REM 35: Kim Betancourt

Wait… Inflation is bad, right? 

In his recent speech, Fed Chairman Jerome Powell emphasized his commitment to bringing inflation back down to his 2% goal (we are currently at 8.5%).

However, if you owned multifamily real estate over the last few years, inflation has been your friend as unprecedented rent growth has driven up property values and cash flow. 

The question is:
Will the Fed’s actions to combat inflation cause and other trends cause a reversal in values? 

Thankfully, in today’s episode of Real Estate Milestones, Kim Betancourt, an expert Multifamily Economist at Fannie Mae, unpacks all the metrics we must consider to answer this question. 

With new housing supply being delivered and interest rates likely continuing to rise, understanding how the market dynamics are changing is essential…

So make sure to tune in to hear Kim’s projections on vacancy/concession rates, renter demand, and values over the next 18 months!

Keep Making Milestones, 
Ben Malech

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If you want to learn more about Kim, you can find him at:
Fannie Mae: https://www.fanniemae.com/research-and-insights
Twitter: https://twitter.com/kim_betancourt
LinkedIn: https://www.linkedin.com/in/kimbetancourt/

To learn more about Ben, connect with him through:
Ben’s Website: https://benmalech.com/
Ben’s LinkedIn: https://www.linkedin.com/in/benjamin-malech/h
Ben’s email: [email protected]

Resources Mentioned:
Pet Sematary - Steven King
Perelandra - C.S. Lewis
https://wildsidepress.com/

Shownotes:
2:00 - How did Kim end up in the real estate industry?
5:00 - Kim’s First Milestone
7:15 - Kim’s Outlook on the state of the multifamily market
9:32 - Headwinds that might hurt the investment market
11:10 - What will rent growth be going forward?
12:00 - Why Concessions are an overlooked trend in the industry
17:00 - The data shows the stimulus money is gone
18:30 - Vacancy Rate Trends
21:10 - Why Interest Rates affect Property Values (CAP RATES)
27:15 - Transaction Volume Projections
29:40 - Fannie Mae Initiatives that support Affordable Housing
34:35 - Lightning Round!!!
35:45 - Amazing story about Kim’s favorite book, “Pet Sematary”

You can listen and subscribe to the podcast on all the platforms below:

Spotify: https://open.spotify.com/episode/2JYpzCfCLRtQ0OZCxyNrHW?si=2amvVTT_SUyY6D-EtMiQgQ

Apple: https://podcasts.apple.com/us/podcast/rem35-fannie-mae-economist-on-next-18-months-in-multifamily/id16

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