I pushed back my chair after demolishing a plate of turkey, stuffing and cranberry sauce, and thought about … what a cliché it’s become to consider what we’re thankful for on Thanksgiving. And yet, when else do you take the time to stop and really think about it?
So this year, I thought about what I was thankful for. And then I let my thoughts stray a little further and ruminated on what we all have to be thankful for as an industry. This is by no means a complete list, nor is it in any particular order. And sometimes it depends on your perspective. But here goes:
Capital: There’s plenty of financing available for multifamily transactions, with the government-sponsored enterprises continuing a steady rise in originations this year (up 40 percent year-over-year and 37 percent quarter-over-quarter in the third quarter, according to the Mortgage Bankers Association). Other lender types are also increasing their activity, with the exception of life companies. Meanwhile, of course, there’s been no shortage of equity sitting on the sidelines. More on that in a moment.
Deal Availability: The deceleration in construction and a growing acceptance among owners that interest rates will only drop so far has led to increased property availability. That’s encouraging the sidelines sitters to get into the game, where thanks (or no thanks) to the post-2022 value correction they’re able to buy multifamily properties at below replacement cost, as Marcus & Millichap’s Hessam Nadji pointed out to writer Joe Gose for our trend story “Multifamily Investors Returning as Values Stabilize.”
Demand: A number of niches are greatly underserved, and although many require specialized skills, those willing and able to pursue them have plenty of opportunity. It goes without saying at this point that the Baby Boomer demand for senior housing continues to grow. Meanwhile, although this year’s college freshmen represented the apex of the student population, the housing shortage isn’t going to disappear even after they graduate in three or four years. Students are living in repurposed hotels, apartments and other nontraditional alternatives. And then there’s the drastic need for affordable housing—and even middle-market housing, as rent growth slows but continues to climb.
Technology: Artificial intelligence has been a big focus this year, and although we’re still a long way from reaping all its benefits (and continue to grapple with the challenges, including how much energy it devours), it’s increasingly being put to good use in multifamily. For teams, that means a reduction in tedious tasks, time savings and career growth. It’s also contributed to IoT advancements, improving building performance and cutting costs.
Those are just a few of the upsides as we race toward the new year. What’s on your list?
Read the December 2025 issue of MHN.
The post Reflections for 2026: What Would You Add? appeared first on Multi-Housing News.
Gillian Executive Search is a leader in Affordable Housing Development, Financing, Design and Construction recruiting. www.gessearch.com