Chairman of the Board of Trust Managers & Chief Executive Officer, Camden Property
Search every verified Richard Campo interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. In a May 2024 interview, Richard Campo, CEO of Camden Property Trust, said that the rental market is "strong" and that rents are "coming down across the country." He attributed this to supply being at a "40-year high" and noted that rent growth has slowed from 13% in 2022 to an expected 1% to 1.5% in 2024. Campo stated that it is "60% cheaper to rent than buy a home" and that rent currently accounts for 19% of tenants' income, which he described as "very low." Campo also discussed a decline in new construction, saying development starts fell 53% from a year ago due to higher capital costs. He predicted that annual construction would drop from 500,000 units to below 200,000 units the following year. Campo stated that this would lead to rent stabilization in the near term but could result in "outsized rent growth" in 2026 through 2028 if the economy experiences a soft landing.
“There is, absolutely. When you think about single-family and multi-family rentals, it is a strong market, no question about it — rents are coming down across the country.”
“The real story is supply. Supply is at a 40-year high right now.”
“Good news for our company and other multi-family companies is the market hasn't collapsed. It has slowed.”
“Rents were up 13% in 2022. They're up 3% in 2023. Now we're seeing 1% or 1.5% growth in 2024.”
Richard Campo, CEO of Camden Properties Trust, discusses housing and rent inflation.
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