DCN-JOC News ServicesMISSISSAUGA, ONT. — Morguard has released a new report that points to the rental sector in the United States strongly rebounding from a pandemic-induced slowdown while other factors put the brakes on the wider economy.
“Economic growth began to slow down in the first half of 2022, following a period of robust expansion and recovery from the unprecedented pandemic influenced retreat of 2020. Multi-suite residential rental demand had surged during 2021 and early 2022 fuelling record-high rent growth, cycle-low vacancy, and a sharp increase in construction activity in many of the country’s largest metros,” the report said.
The report also cautioned higher interest rates, inflation, supply chain problems and geopolitical events will continue to slow economic growth for the rest of the year and into 2023.
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