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I don't think there's much, if any, of an over supply of apartments. The people I've seen who try to teach vacancies show that new buildings get to nearly full

I don't think there's much, if any, of an over supply of apartments. The people I've seen who try to teach vacancies show that new buildings get to nearly full occupancy within a year or so. That's pretty reasonable if you need to rent a few hundred units at once. If anything, there's a massive under-supply of 3+br apartments large enough for families, due to double-loaded corridor designs that are almost required to meet fire codes. The only good spot for 3brs is in the corners, so you get at most 4 per floor.

dwallin 3y ago
The undersupply of 3 bedrooms is real, in many neighborhoods in my city you just can't find them. Anecdotally, the lack of 3-4 bedroom apartments has been the major driver of couples I know, who were aiming to start families and who would otherwise love to stay in my city, leaving the city for the suburbs. 3-4 bedroom units are also popular with younger folk, who are often happy to have roommates, and share amenities in exchange for lower rent.
- hinkley 3y ago
  You can skate by for a few years on a 2BR, or even a 1 BR with a bonus room, but not all bonus rooms have windows and raising a baby in a cell is probably not conducive to success as an adult. Once your second child hits grade school they should have a proper bedroom. But in “you damn kids don’t know how good you got it” news, I’m of an age where I knew people who had to share a room with a sibling. And there was lots of talk about how that used to be more common. Those boomer kids with five siblings weren’t living in 7 bedroom mansions. They were doubled up in a four bedroom house.
hinkley 3y ago
If you build a U shaped building you get a courtyard in the middle and you might be able to manage 6 per floor. Maybe eight with the inside corners? But the last building I lived in shaped like that had a pair of 1 BRs at the corners, scalloped to get windows on 2 sides. When I think of 3 bedroom apartments I think of college towns.
tempsy 3y ago
I’m not sure if you’re talking about a specific metro or just generally but there is an ongoing financial crisis among multifamily developers. The idea that every new apartment complex is filled in a certain time is a very broad and incorrect statement.

dwallin 3y ago

The undersupply of 3 bedrooms is real, in many neighborhoods in my city you just can't find them. Anecdotally, the lack of 3-4 bedroom apartments has been the major driver of couples I know, who were aiming to start families and who would otherwise love to stay in my city, leaving the city for the suburbs. 3-4 bedroom units are also popular with younger folk, who are often happy to have roommates, and share amenities in exchange for lower rent.

hinkley 3y ago
You can skate by for a few years on a 2BR, or even a 1 BR with a bonus room, but not all bonus rooms have windows and raising a baby in a cell is probably not conducive to success as an adult. Once your second child hits grade school they should have a proper bedroom. But in “you damn kids don’t know how good you got it” news, I’m of an age where I knew people who had to share a room with a sibling. And there was lots of talk about how that used to be more common. Those boomer kids with five siblings weren’t living in 7 bedroom mansions. They were doubled up in a four bedroom house.

hinkley 3y ago

If you build a U shaped building you get a courtyard in the middle and you might be able to manage 6 per floor. Maybe eight with the inside corners? But the last building I lived in shaped like that had a pair of 1 BRs at the corners, scalloped to get windows on 2 sides. When I think of 3 bedroom apartments I think of college towns.

tempsy 3y ago

I’m not sure if you’re talking about a specific metro or just generally but there is an ongoing financial crisis among multifamily developers. The idea that every new apartment complex is filled in a certain time is a very broad and incorrect statement.