Who’s Slamming on the Real Estate Brakes in Texas?

Texas multifamily developers may have overshot their goal. They have pumped so much new product into the market, that many have slammed on the brakes for new builds as they finish up current projects.    According to a detailed report in The Real Deal, Texas apartment developers have produced more apartments than almost any other group of US developers over the last three years. In Dallas, they put more than 20,000 apartments on the market last year. That’s about twice the number of new apartments that opened up in New York with a much larger population. In Austin, the story is even more dramatic, with  more than 17,000 new apartments on the market in 2023. Compared to Dallas with 1.3 million people, Austin only has 1 million....   ...You’ll find a link to the full article in the show notes at newsforinvestors.com. If you’d like more information on the single-family rental business, be sure you’ve signed up for a free RealWealth membership. We help new and experienced investors find cash-flowing rental properties in markets with strong job and population growth. You can also connect with our network of real estate professionals and other single-family investors. And please remember to subscribe to this podcast, if you haven’t already.   Thanks for listening! Kathy Fettke   Links:   1 - https://therealdeal.com/magazine/march-2024/texas-multifamily-developers-slam-on-the-brakes/   2 - https://www.multifamilyexecutive.com/design-development/construction/texas-apartment-construction-starts-plunge-across-major-metros_o