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Investors are on pace to build many more new build-to-rent (BTR) houses in 2020 than they did the year before—spurred by a demand that’s a byproduct of the upheaval caused by the COVID-19 pandemic.
To serve these renters, developers are on track to reach 55,000 to 60,000 new rental housing construction starts in 2020, according to the National Rental Home Council (NRHC), based in Washington D.C.
That would be a big increase from about 40,000 in 2019, according to the tally kept by the National Association of Home Builders.
Just a few years ago, developers typically built just 15,000 to 20,000 rental houses a year.
And “the housing market is under-supplied by one to two million homes,” says Howard.
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