In this episode of The Brinkman Report, Kevin Brinkman interviews John Chang, National Director of Research and Advisory Services at Marcus & Millichap, about the multifamily real estate market. They explore how interest rates and economic conditions are shaping supply, demand, and transaction dynamics. Chang notes a slowdown in new construction, particularly in secondary and tertiary markets, due to rising costs and high interest rates, which may lead to upward pressure on rents. While transaction activity has dipped since the 2021-2022 peak, significant capital remains poised for a resurgence if interest rates stabilize. Discussing potential recession risks, Chang expresses cautious optimism, citing strong consumer fundamentals and housing demand as key supports for the sector.

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