There's no time like now to be a continued student of the markets while investing in commercial real estate, especially in a bear market and with the uncertainty of a recession in the coming years.
Suzy and I constantly review reports from various sources, such as media, such as Yardi and the bureau of labor statistics, as well as other, sources out there that focus on multifamily reports that are available as well as economic reports.
In this episode, we discuss our Multifamily Real Estate Outlook. Stay tuned until the end as we share with you about the greatness of the Tulsa market and how that's combined in all of this. Join us and listen in!
[00:00 - 01:45]
• Welcome to today's show were excited to share our thoughts on the current multifamily market with you.
[01:47 - 03:57]
• Single-family housing market and the multifamily market are cooling off.
•Rent growth in 2021 was an anomaly.
[03:56 - 05:27]
• Why the average mortgage payment is still higher than the average rent?
[05:26 - 09:57]
• Why do we love Oklahoma City and Tulsa?
• The trend of sales volume since 2021 is down in 2022. However, it is still trending higher than in 2018 and 2019, with, 2020 lower because of the pandemic.
[09:59 - 12:24]
• How do we underwrite with the current rent growth in Tulsa?
• What's on our next episode?
Memorable Quotes -
"Employment in Tulsa has grown by 3.6% over the past 12 months, while hourly wages have risen by 7.4% YoY to $28.77 according to the Bureau of Labor Statistics." - Michael
"New lease asking rents are at $939, up 12.3%, from the previous year placing Tulsa at 47th overall in year-over-year rent growth." - Michael
Until next time…
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