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Liz Ann Sonders, industry influencer, points out that current economic conditions are not as dire as they were during 2009.
She emphasizes that in 2009, unemployment was more than twice as high as it is today, suggesting that while consumers may not feel optimistic, the economic environment has been significantly worse in the past.
Recent data has shown a slower start to the spring leasing season, according to Radix apartment figures reported by Jay Parsons. Separately, the U.S. housing supply has faced constraints amid a significant slowdown in build-to-rent construction. Both factors have added to pressures in the housing and rental markets.