David Adelman, who heads Campus Apartments — one of the biggest apartment companies in the U.S. said renting an apartment is analogous to buying flexibility.
Investor David Adelman warns about the health of the housing market, reveals thoughts on AI: 'Punch in the face'
Low mortgage rates, he explained, allowed "more people than you probably should have had" to buy homes and take houses off the market. But Adelman said he was "hopeful" that at least some of those buyers locked in a long term mortgage, because otherwise they might get a "punch in the face" that they were not expecting.
"I'd certainly like to see more supply," he added. "I'd like to see more affordable housing. I'd like to see a way where the private sector and government can work together to ease that development process, to get more housing into the hands of first time buyers and young professionals." "One of the things that's really important to us and my partners is to make sure that we can help create affordable housing in the adjacent neighborhoods to really solidify those neighborhoods. And so when you take private capital," he explained, add "good government programs for affordability and leverage that capital stack together, you get the ability to build housing.
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