Despite concerns over overbuilding within the US property market, real estate economist Peter Boockvar has denied that the country is currently experiencing a housing bubble and maintains that the demand for housing will rise as the millennial generation begins to settle down. The construction of "multi family" apartment buildings is at a record high in one quarter of the US"s largest metropolitan areas and is four times higher than average in New York; however, national single-family home construction has slowed and is currently operating at half its average pace.
Despite concerns over overbuilding within the US property market, real estate economist Selma Hepp has denied that the country is currently experiencing a housing bubble and maintains that the demand for housing will rise as the millennial generation begins to settle down. The construction of "multi family" apartment buildings is at a record high in one quarter of the US"s largest metropolitan areas and is four times higher than average in New York; however, national single-family home construction has slowed and is currently operating at half its average pace.