No Broad-Based Economic
Decline Despite GDP Performance
Yes, inflation is high at 9.10% but it is driven primarily by food and energy costs which have been partially impacted by the war in Ukraine. Without food and energy, inflation stands at 5.90%. Yes, not the 2.0% to 3.0% the Fed strives for but well below 9.10%. Many believe we have peaked relative to inflation with prices beginning to have stabilize as supply chain and other factors impacting pricing are recalibrating.
Nationally, multifamily vacancy stands at 3.20%. But this comes on the heels of 1Q2022 when it was 2.20%…the lowest ever historic vacancy rate.
Chang argues convincingly that one needs to look past GDP performance over the past two quarters and focus on the realities occurring across the broad-based economy.
Svikhart & Associates, a Salt Lake City-based real estate services company, focuses on the entire market, economic, financial and real property, and its overall impact on multifamily housing. The firm’s primary focus is on multifamily properties comprised of 10 to 60 units and working with those owners to make an impactful difference in improving the performance of their property along with working to increase asset value.