In the most recent monthly MHN poll, readers were asked to name the top challenge that their companies will face in 2023, particularly in light of an increasingly cloudy economic horizon.
Nearly three quarters of respondents see interest rates and capital availability as the year’s No. 1 issue, in no small part due to volatility in real estate debt markets caused by a series of interest rate hikes that began in March of last year.
While other issues have been making headlines for months, they seem less impactful by comparison. Only 12 percent of respondents cited slowing rent growth as the top issue. An even smaller share named inflationary pressures, even though that trend has impacted everything from development and investment sales to rent control. And supply chain issues accounted for only 2 percent of responses, suggesting that this much-discussed problem is now of far less concern to the multifamily industry than today’s economic headwinds.
Suraj Shrestha is an associate at Harborside Partners. He has been taking the lead role on research projects; to develop and implement online marketing strategies for search engine optimization and social media marketing. He is one of the core parts for helping to grow business revenue and the company’s online presence.