Will 2024 Change Everything? My Top 5 Multifamily Real Estate Predictions

In this episode of the Heartland Multifamily Show, Trot and I give our predictions for 2024.
Our discussion is tailored for investors and property owners, focusing on key trends and predictions that are essential for informed decision-making in this sector. We explore the rise in distressed multifamily properties, the impact of the 2024 election on real estate investments, and the anticipated increase in property values despite market challenges. Additionally, we discuss the politicization of affordable housing and the evolving role of buyer brokers in the multifamily space.

Watch this video to gain a concise yet comprehensive understanding of the current multifamily market dynamics. Our conversation is particularly beneficial for those looking to grasp the complexities of the market, offering insights into potential opportunities and challenges. This episode is an invaluable resource for anyone involved in multifamily real estate, aiming to navigate the market effectively in 2024.

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1:05 Predictions for 2024
3:15 1: We are going to see a number of multifamily properties heading toward foreclosure
5:08 Rates have come down recently, but are still high, and expenses keep going up
6:22 There’s more to come
7:05 2: The 2024 Presidential election
7:15 This may be the most important election ever
8:02 What kind of conversations are we having?
8:30 What could happen in the future?
9:00 Investors are going in one extreme direction or the other based on their own predictions
9:45 Whatever they believe, they’re in 100%
10:32 There’s nobody in between
11:08 This level of extremeness is unprecedented
11:55 Will values go up or down?
12:07 3: Well-run, well-maintained properties with good occupancy will remain profitable
12:40 The Fed has announced they will lower interest rates
13:40 Shrewd investors see opportunities
14:00 How much have we heard about how unaffordable single-family homes have become?
14:24 Single-family homes are too expensive to afford
14:45 It may be impossible for the average person to own a home
16:13 Renting has become 52% cheaper than buying a house
16:35 It’s very expensive to own and maintain a house
18:06 Multifamily owners/landlords are going to be seen as villains
18:20 Should price restrictions be imposed on landlords?
19:10 If renters are irresponsible, they should face consequences
20:00 Do we have to make it easier to afford housing?
20:50 Who is responsible for a social safety net?
22:20 This last prediction is not good news
22:50 5: Buyer brokers will disappear
23:30 Buyer brokers will have to get creative
27:30 Recap:
1: We are going to see a number of multifamily properties heading toward foreclosure
2: Elections are pushing investors to the extremes, they are either buying or selling more depending on their own predictions about the future
3: Property values will rise
4: Housing will become more politicized
5: Buyer brokers representing multifamily buyers are disappearing

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