Midfield InvestmentsMidfield InvestmentsMidfield Investments
North York, Ontario M3J 3E5
(647) 895-0939
Midfield InvestmentsMidfield InvestmentsMidfield Investments


Rental Housing Shortage

Limited new construction supports pricing power for existing assets as well as future acquisitions

Higher material and labor costs: Cost to build rental housing is generally 30-50% more expensive to build. 

Higher financing costs and less availability: high interest rate environment and treasuries at 20-year highs combined with muted deal activity (52% year-over) make development even less feasible, bank lending historically supported roughly 30% of their financing programs via construction loans.

Structural demand drivers outpace elevated near-term supply:

  • Rental housing undersupply of 4 million homes since
    the Global Financial Crisis; with greatest concentration
    in the southeast, which has experienced 8x growth vs. the greater U.S.
  • Homeownership Affordability: owning a home is at its greatest premium, on history and ownership is even more
    out of reach to a cohort of a population that more closely aligns with renting as a lifestyle preference

Rental Housing

95% US occupancy levels
U.S. Multifamily Starts, Decline from ’22 Peak
Units, Trailing 3-Month Average, Annualized

Affordability Index

Goldman barometer reaches record lows
Premium/ discount to buy a U.S. home vs. renting. 51% decline 2022 to 2023.

Affordability Crisis

Opportune Timing

Even when net operating income remains constant, higher cap rates erode property values.  Based on a disjointed equity and debt market,
an opportunity lies herein to reposition at a below “market” basis, with a strategic capital stack.

$626B of the loans maturing 2025 and before are “potentially troubled”.  In a scarcer credit environment, debt originations are down 52% in
1H 2023, compared to the prior year and 31% compared to before
the pandemic.

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Our head office address:

37 Kodiac crescent unit 11 north York Ontario M3J 3E5

Call for help:

(647) 895-0939

Mail us for information



    We understand the importance of approaching each work integrally and believe in the power of simple.

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