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The pandemic upended historical rent growth patterns, but recent data suggests we are settling into more familiar territory.
The self storage development pipeline continues to exhibit signs of a slowdown. Construction starts declined in Q4 2023, while growth in both planned and prospective development moderated. The number of deferred and abandoned self storage projects has been increasing. These circumstances are consistent with the previous quarter’s forecast expectations.
Heavy supply continues to weigh down asking rents in pandemic boomtowns. But many midsize markets in the Midwest, Northeast and South are still experiencing strong growth.
Student Housing National Outlook
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