Market market research tools in actual practice... going into a recession.
Let's say you're still bullish on developing more multifamily or single family rentals, or even building more single family homes....

(Or whatever your product: storage, industrial, etc)

What tools do you use to accurately model demand beyond looking at census data and median incomes?

I just can't understand why people are still throwing up new multifamily projects in South Florida (or whatever overpriced market you are based in) where the rents are going to be $3500/month for a studio. I mean, it's great that the closings are still happening, but I don't understand why they are still closing into what looks like a major recession. 

Who exactly is going to be paying these inflated rents once companies start laying people off and the S&amp;P has cratered even further?  

Is the expectation that Americans are having a cultural adjustment in how much they are willing to pay for housing? We are told in the books and at the GSEs that 30% or so of income can go to housing, yet with rents at over $3000, that is someone making well over six figures. Or if it's true that the share of income towards housing has gone up, what is considered the new normal, 50%??

&amp;#x200B;

Has there been such huge increase in six figure jobs to support all these overpriced units?

&amp;#x200B;

Do developers infer other sources of income beyond what is revealed in the common data sources? 

&amp;#x200B;

I'm just trying to understand where my buyers are coming from.
[{"id": "i97l51s", "text": "Staying in touch with commercial brokers is a good resource, so long as they are being sincere. They can tell you about the volume they are seeing and some of the reasons for change in the market demand, pricing PSF, etc. \n\nConcerning South Florida, WSJ says a bunch of New Yorkers moving to the area have contributed to rent doubling. Devs down there just got a confidence boost.\n\n[https://www.wsj.com/articles/miami-locals-are-steamed-over-relocating-new-yorkers-driving-up-apartment-rents-11652175000](https://www.wsj.com/articles/miami-locals-are-steamed-over-relocating-new-yorkers-driving-up-apartment-rents-11652175000)", "replies": [{"id": "i97oxif", "text": "Good call, go with the guys who surf the volume every day. \n\n&amp;#x200B;\n\nAnd yeah, a confidence boost is putting it mildly!\n\nNow even Tampa and St Pete are pulling down $3000 studio rents. I mean, they are nice towns, but not that nice, unless your main hobby is strip clubs. \n\nI just don't see the jobs to support these rents.", "replies": [], "depth": 2}], "depth": 1}, {"id": "i989sbb", "text": "I think part of it is that development projects take 3-5 years to complete depending on how quickly the local municipality moves. The buildings being finished today started the planning stages that long ago and they have already spent so much money as well as time on it. I see office in my market still being delivered but there is not much demand anymore. The projects were planned pre Covid or so early in Covid no one knew that there would be no demand for it. \n\nDevelopment is the riskiest thing in CRE since the market can drastically shift before your project is finished and you can be stuck with something no one wants.", "replies": [], "depth": 1}]