One of the key things is we’re expecting, or looking forward to, is when there is an inflection point of Class A properties, or that top 40 percent that we don’t play in, can restabilize and go back the other way. It feels like it’s been three years in a row of 20,000 units coming online per year, which has softened that part of the market. It will be nice to see when new supply starts to taper down. Are we at that inflection point now? It could be that we’re starting to see some signs of that, but hopefully we’ll see that over the next two or three quarters.
The other thing on the radar is people have talked about a soft landing recession or slow down this year or next year. We had an economist speak at an event last week and he was saying there might be one quarter of the slow down predicted in 2020, so we’re paying attention to that and seeing how that might impact the local Dallas economy and how it might impact multifamily.
Last but not least, I think New York recently passed some sort of rent control procedures. We don’t really believe rent control is the answer to affordability, and that it actually makes it worse when you do that to a certain segment of the housing population. It’s interesting to see how some of those housing trends might unfold over the coming quarters and years ahead.