The budget cuts will also hurt renters.
How? The cuts are reducing the demand for homeownership. Many would be buyers are choosing to remain renters, either out of necessity or fear. This will continue to drive rental vacancy rates lower. As the demand for rental housing continues to increase, apartment owners will raise rents due to a relative scarcity of rental housing in the Madison area.
One person’s loss is another person’s gain. In this case the multifamily investor will benefit greatly from the upcoming cuts.