talked to Ivy Zelman’s lead analyst on friday and his comment was that renting/buying is pretty agnostic to single family home starts. demographics will drive the demand and a lot of Millennial’s are completely fine with renting a single family home after they get married and start having kids.
Did he mean that producers don’t care about the end product’s use? Because the buy/price point of a homeowner end user v. an investor holding for rental income are different enough that you’d go bankrupt trying to sell a single product to both.