U.S. Market Review: Demand Remains Healthy; Occupancy lower

[John Underwood]

They are saying that demand is still strong but all the additional STR's is cutting into the occupancy numbers.

https://www.airdna.co/blog/airdna-market-review-us-november-2022?utm_campaign=Newsletter&utm_medium=email&_hsmi=238553757&_hsenc=p2ANqtz-8sRN0l8RokQHjU_SLgKuUfCBeeYBiPMuKSzabpll4I6DWFLKu3cWJQ_5IJt_CFx4tctQDLkWq83p8HEQ2gsOuUyCV0yQ&utm_content=238553757&utm_source=hs_email

[Erik Stenbakken]

We will see how the forecast plays out. 

Meanwhile in my real world, one of our prime properties sits vacant over Christmas despite 50% off normal rate. First major holiday vacancy ever there (been at this 7 yrs). 

We will survive, as we underwrite cautiously. But those predictions have very real, real-world implications.