From the 2009 bottom of the market, single-family housing starts are up slightly more than 100%. Multi-unit buildings, on the other hand, are up a whopping 466%. Although those numbers feel out of whack at first glance, it likely makes sense in this post recovery period. In 2005, home ownership had grown to over 69%, which is arguably too high. Since the crash, there’s a growing need for rental properties. That, combined with the movement into the cities from suburbia, starts to make these numbers make sense.
