Why Building Luxury Apartments Isn't Solving The Housing Crisis

You've probably heard it: "housing shortage this, housing shortage that." But here's the truth no one's telling you: we're not facing a housing shortage.

We're facing an affordable housing shortage.

Yet, all around us, we see more luxury apartments and high-end developments sprouting like weeds.

If the real demand is for affordable housing, why are developers relentlessly churning out luxury units that most people can't afford?

Prices keep soaring, wages aren't keeping up, and the average family can't find a place to live. The middle class is being squeezed out, and younger generations are locked out of homeownership entirely.

So, why do developers keep building luxury instead of affordable? Is it because luxury units bring higher returns, even if they sit empty?

In this episode, I dive into the reality of the housing crisis, what it means, and what fuelled it all.

Things You'll Learn In This Episode

-3% differential

A 3% gap exists between the national vacancy rate and that of luxury properties. What factors contribute to the higher vacancy rate in luxury real estate?

-The revenge summer

After the pandemic, many people increased their savings and reduced their debt. How did the rise in savings and drop in debt influence consumer behavior after the pandemic?

-The rise of institutional landlords

How will the rise of institutional landlords impact renters and housing affordability?

About Your Host

From pro-snowboarder to money mogul, Chris Naugle has dedicated his life to being America's #1 Money Mentor. With a core belief that success is built not by the resources you have, but by how resourceful you can be. Chris has built and owned 19 companies, with his businesses being featured in Forbes, ABC, House Hunters, and his very own HGTV pilot in 2018. He is currently founder of The Money School™, and Money Mentor for The Money Multiplier.

His success also includes managing tens of millions of dollars in assets in the financial services and advisory industry and in real estate transactions. As an innovator and visionary in wealth-building and real estate, he empowers entrepreneurs, business owners, and real estate investors with the knowledge of how money works.

Chris is also a nationally recognized speaker, author, and podcast host. He has spoken to and taught over ten thousand Americans delivering the financial knowledge that fuels lasting freedom.

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