According to the National Multifamily Housing Council and the National Apartment Association, underbuilding during the 2008 financial crisis, an increase in immigration, the loss of affordable units and the most recent pandemic have all contributed to the housing deficit.
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The Need for Multifamily Construction Continues to Surge
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The U.S. needs to build 4.3 million new apartment units by 2035 to address demand, supply deficit and affordability issues, according to a report Wednesday from the National Multifamily Housing Council and the National Apartment Association.
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