Part 5/7:
The discussion touches on recent market behaviors, such as landlords selling their properties rather than investing in upgrades. Altman shares an instance where he sold a four-unit building, questioning whether owners would maintain or improve properties when profitability is limited.
He also emphasizes the importance of reducing bureaucratic costs—citing a statistic that roughly 30% of construction costs are tied up in red tape and regulations. If these costs could be alleviated, developers might pass savings onto tenants, leading to more affordable units and increased investment—akin to Florida's successful model.