With Apartments Going Up All Over Phoenix, Are We Overbuilding Multifamily Housing?
If you drive around the Phoenix area right now, it may feel like there’s an apartment boom happening. It seems like there’s a new apartment building going up on every other corner — especially in the central city.
This has led many in the development world to ask the question: Are we headed for another bubble in multifamily housing that will inevitably pop just like it did in the Great Recession?
For now, at least, their answer is no, according to a panel of experts in the multifamily housing industry who participated in a round-table for the Phoenix Business Journal recently.
They say, as long as demand stays strong, the multifamily housing market isn’t in danger of overbuilding again. For more on why, The Show spoke with Angela Gonzales, senior reporter for the Phoenix Business Journal.