At every turn, there is another story about shortages in affordable housing.  Part of that is a story about inflation, but part of it is a story about bad policy.  Like any rational investor, we have looked into affordable housing because we generally love exploiting mismatches in supply and demand. Read More

2022 ended with a giant thud for rent growth.  As can be seen in the charts below, vacancy rates were up and rent growth was negative by more than it has been in a long time.  As 2023 began, the picture appeared slightly rosier for the asset class.  Vacancy rates continue to head higher, but...Read More