Odd Lots
The 'Big Shift' That's Finally Causing Rents to Fall
Could the apartment sector see a hard landing?
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Rent inflation went wild in 2021 and 2022, turning it into one of the most substantial drivers of overall inflation. But good news: it seems pretty clear that rents are now finally falling. Private sector measures, from companies like Apartment List and Zillow are starting to show a clear decline. So what's changed? How hard could rents drop? And could a renter in a place like New York City actually get a rent cut? On this episode of Odd Lots, we speak with Chris Salviati, the top housing economist at Apartment List, to discuss what's changed and what 2023 has in store.