The Walker Webcast Aaron Appel, Senior Managing Director, Capital Markets; Kris Mikkelsen, Executive Vice President, Investment Sales; and Ivy Zelman, Executive Vice President, Research and Securities
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Apr 3, 2025 
Aaron Appel, a Senior Managing Director specializing in Capital Markets, joins Kris Mikkelsen, an Executive VP in Investment Sales, and Ivy Zelman, an EVP focusing on Research and Securities. They dive into the complexities of the commercial and housing markets, discussing the impact of tariffs and the interplay between demand and supply. They emphasize a cautious optimism in the market's recovery, the resilience of luxury real estate in Florida, and changing cap rates in multifamily investments. They also explore the benefits of recent regulatory changes for landlords.
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Impact of Consumer Confidence
- Falling consumer confidence is impacting the single-family market.
- This is a major headwind as consumer confidence drives housing decisions.
Tariffs and Single-Family Housing
- Tariffs will likely slow new single-family home production.
- Builders are unsure if they can pass increased costs to consumers.
Multifamily Supply and Demand
- Strong multifamily absorption in 2024, but supply is decreasing.
- Reduced supply could lead to future housing shortages.