Aug 11, 2026 · 34 min · 10 segments
Bob Hart built TruAmerica into a major multifamily owner and operator by betting big on workforce housing. He explains why patience is especially important amid today's high interest rates and…
Bob HartGuest.jpg?rev=e39e7f25c6dd4e6a8c9d23ae8e7fc8e6)
Spencer LevyHost.jpg?rev=e39e7f25c6dd4e6a8c9d23ae8e7fc8e6)
So it's a academic way of saying the market has changed, not necessarily for the better, in the last five or six years.
It was a phenomena created by the onset of COVID, with the US Treasury pumping a lot of money into the system.
And this created a larger than life demand for apartments and for suburban apartments throughout the United States.
And- As a result, it created very, very high rent growth coupled with extremely low interest rates that we hadn't seen at least in my time in real estate, and we were, we were sort of all in Disneyland.
This isn't gonna continue." And what we're living with now is the, the reality, the, the, the smoothing out of that big, big curve that was stimulated by cheap money and excess demand for apartments.
Although we have household formation in the United States, I think this may be the first year of neutral or declining household formulation.
And I think the growth is flat in most markets, although there are green shoots emerging again, but we're not talking about the COVID growth of, you know, double digit.
Any markets in particular you find to be most attractive? Would love to hear your answer.
So it's a academic way of saying the market has changed, not necessarily for the better, in the last five or six years.
It was a phenomena created by the onset of COVID, with the US Treasury pumping a lot of money into the system.
And this created a larger than life demand for apartments and for suburban apartments throughout the United States.
And- As a result, it created very, very high rent growth coupled with extremely low interest rates that we hadn't seen at least in my time in real estate, and we were, we were sort of all in Disneyland.
This isn't gonna continue." And what we're living with now is the, the reality, the, the, the smoothing out of that big, big curve that was stimulated by cheap money and excess demand for apartments.
Although we have household formation in the United States, I think this may be the first year of neutral or declining household formulation.
And I think the growth is flat in most markets, although there are green shoots emerging again, but we're not talking about the COVID growth of, you know, double digit.
Any markets in particular you find to be most attractive? Would love to hear your answer.
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