The U.S. multifamily market’s consistent performance over the past several years should continue into 2020, according to a new market analysis from Yardi Matrix. That outcome assumes the absence of major shocks to the macro economy or the capital markets such as trade war escalations or slowing growth in Asia and Europe. But for now, prospects remain bright, thanks to steady economic growth in most markets, a healthy job market, low interest rates and an oil glut that has suppressed inflation. “Even if employment were to cool and the economy to face a mild recession, we expect the housing market, and multifamily specifically, to ride through the downturn with relatively little impact,” the report says. Other concerns loom over the market. For example, despite the decade-long economic expansion, homebuilders haven’t kept up with demand, producing a significant housing shortage in many metros. That imbalance and steady rent growth prompted rent control measures in high-cost California, New York and Oregon in 2019. Industry watchers are wary of additional state and municipal legislation intended to promote affordability that could end up dampening development and driving investment to markets with higher growth potential. Yardi Matrix is ready to share insight into factors shaping the U.S. multifamily market including potential military conflicts in the Middle East; the growth of technology and manufacturing in places like Phoenix, Atlanta, Denver, Seattle and Austin, Texas; millennials’ and boomers’ lifestyle preferences; construction labor shortages; the Fed’s actions; and more. Download the new market analysis for winter...