Good morning, readers.
Apartment demand has rebounded relative to the declines seen in 2022, but ongoing projects bringing new units to the market still outweigh demand growth. That dynamic is likely to force landlords to offer concessions in much the same way builders have had to appease buyers in order to fill units.
Meanwhile, the hotel sector may have the opposite problem. Some regions, like south Florida, are seeing leisure demand rebounding from pandemic lows, but headwinds in the construction…
