Goldman’s Conversation With Top Execs Reveals What’s Ahead for Single-Family Rentals
9th October 2025
The Single-Family Rental (SFR) space has become the de facto middle-class housing market across America. With elevated 30-year mortgage rates and high home prices, affordability has collapsed, sidelining multiple generations of Americans from homeownership.
Thus making us more like Europe. Whether that’s a good thing or a bad thing is an exercise left for the reader.
For expanded visibility into the SFR market, as well as homeownership affordability, demand fundamentals, supply dynamics, rental growth expectations, and the transaction environment, Goldman analysts hosted a private webinar on Tuesday with executives from several of the largest owners of single-family homes in the U.S, including David Todd (Managing Director in Brookfield’s Real Estate group as well as CEO of Maymont Homes, Brookfield’s SFR business), Chris Avallone (Amherst’s CFO & Head of Merchant Banking), and Dave Feldman (Co-President of Progress Residential).
One of the key takeaways from the webinar is that the SFR market remains resilient, driven by high homeownership costs that continue to fuel strong rental demand, particularly in the Midwest and interior Southeast, while softer conditions persist in Florida, Texas, and Phoenix.