"Renters across the U.S. may require $7 billion to $12 billion each month in temporary assistance over the next three to six months as the coronavirus puts a deep freeze on the economy," according to a new report by data and analytics firm Amherst Capital Management.
Apartment demand is expected at 240,000 units in 2020 as a result of slower economic growth, around 20 percent less than the forecast 300,000 units in 2019. Millennials will continue to migrate into homeownership due to affordability concerns but at a slower rate. Nonetheless, multi-family demand will remain adequate in over-supplied markets to absorb much of the new products and lower concessions.
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