Are Multi-Family Housing Starts near a peak?

I'm wondering if multi-family housing starts are near a peak. The architecture billings index for multi-family residential market was negative for the fourth consecutive month, and that suggests a slowdown for new apartment construction later this year. That doesn't mean apartment construction will slow sharply, especially since demographics are still favorable for apartments (as discussed below).   But multi-family construction might move sideways. However the NMHC Market Tightness Inde x was still favorable for apartments in Q1, but not as favorable as a few years ago. Note: Parts......(read more)

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