Thursday, October 17, 2024

Apartment watch

vote to overturn Costa Hawkins and allow rent control
Apartment watch

Poll shows Californians evenly divided on rent control

In November, Californians will go to the polls for the third time in 6 years to decide whether to repeal the Costa Hawkins Act,...
lumber leads rise in construction materials prices
Apartment watch

Construction materials prices inch higher

The producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices were up 0.1 percent month-over-month in...
Apartment construction

Buy multifamily – market conditions favor investment

Now is the time to buy multifamily, said Peter Standley, director of Marcus & Millichap's multifamily division, while discussing the state of...
NYC leads in apartment rent growth
Apartment watch

Rent growth makes seasonal downturn in September

Yardi Matrix reported that the national average asking apartment rent was down $3 in September compared to the revised level of the month before...
CMBS special servicing can lead to loan losses

Multifamily CMBS special servicing rate rises again in September

Austin leads in market rate competitiveness with affordable housing

Where can market rate substitute for affordable housing?

employment growth

Strong employment growth reported by BLS

Rents fall in autumn

Who’s to blame for the affordability crisis?

Who’s afraid of the BPS?

Deal boom

Lessen360™
Deal boom

Lessen Unveils Lessen360™,  the Next-Generation Solution for Centralized Multifamily Maintenance

From inspections and make-readies to preventative maintenance and asset lifecycle planning, Lessen's Lessen360™ helps multifamily real-estate owners, operators, and managers lower costs while increasing...
Bees Ferry Road
Deal boom

Madison Capital Group Closes $16MM Preferred Equity Raise for Bees Ferry...

Madison Capital Group has successfully closed Madison Bees Ferry Road Pref, LLC, a $16 million preferred equity raise to fund a premier build-for-rent townhome...
The Axel

Alpaca Real Estate and Hope Street Recapitalize Trophy Residential Asset The...

573 Meeting Street

The Michaels Organization, Spandrel Development, and One80 Place to Transform Vacant...

Casa Estílo

Grand Opening of Casa Estílo Senior Living Apartments

Southdown Aldea

Southtown Oxbow Site Priming for Development of Southdown Aldea

Movers and shakers

Brewster Hague
Midwest-North region

Greenstone Partners’ Brewster Hague Promoted to Partner

Greenstone Partners, a leading commercial real estate brokerage firm, announces Brewster Hague as Partner, a promotion from Senior Director. “Elevating Brewster as Partner is an...
Connor MacLennan
Mountain region

WellQuest Living Appoints Connor MacLennan as CIO

WellQuest Living, a prominent senior housing owner, operator, and developer, is thrilled to announce the appointment of Connor MacLennan as its new Chief Investment...
Jason Cromer

LandSouth Construction’s New President Jason Cromer Begins Tenure

Kellie Sambrano

FirstService Residential Promotes Kellie Sambrano to Senior Vice President of Developer...

MadisonInternational Realty

Madison International Realty Appoints Michael Siefert and Evan Abrams as Co-Heads...

Mike May

Primestone Partners Appoints Mike May to Technology Advisory Board

Latest issue

In President Biden’s press conference on July 11, he mentioned his plan to impose rent control with a 5 percent rent increase cap on corporate landlords as part of his second term agenda if reelected.
Article

Biden calls for rent control

President Biden formally announced his national rent control plan at a campaign event in Nevada July 16. The president intends to limit rent increases to...
PRO Reflections

The price of disorder

I was once pitched a deal in the heart of the Amazon—Manaus, Brazil. What was I buying? Firstly, a commercial asset. But I couldn’t...
High-income millennials and Gen Zers are choosing Class A apartments over home ownership. Is it a lifestyle choice or the economy?

INFOGRAPHIC: A luxury vibe

Job openings at small businesses fire on all cylinders—despite Federal interest rate increases

INFOGRAPHIC: Small businesses keep labor market flying

INFOGRAPHIC: Have CRE foreclosures hit bottom? Probably not.

INFOGRAPHIC: Battle of will

Often considered the slowest growing region in the U.S., the Midwest has recently shown surprising improvements, both in the performance of its multifamily markets and in the resilience of the region’s economy. The outperformance comes amid a volatile economic backdrop—the Midwest’s relative stability is one of the region’s defining features and highlights its importance in any multifamily portfolio.

New metrics make Midwest investment attractive

Avenue South Residences—56-story residential towers located on the western edge of Singapore’s urban core—will be the tallest buildings created with prefabricated prefinished volumetric construction (PPVC). The 988-unit multifamily housing towers will include 2,984 modules (ADDP Architects).

Mod, mod world

Texas-based property management software provider RealPage and California-based Yardi Systems and the clients who use their RM software are named as defendants in class-action lawsuits. The companies have drawn the additional scrutiny of the U.S. Department of Justice and the Federal Trade Commission, both of which are investigating for alleged price fixing in violation of antitrust laws.

Revenue management’s data dilemma

Despite broader economic inflation cooling significantly from pandemic peaks, the shelter inflation index has remained elevated, largely due to how the BLS calculates housing costs.

Why housing costs remain a major hurdle for lowering inflation

Apartmentalize roundup: Maintenance as cost saver, operations help close deals

Apartmentalize roundup: Maintenance as cost saver, operations help close deals

Persistently high interest rates are restricting the ability of businesses to borrow money to invest in real estate construction.

Building permits for apartments declined nearly 30 percent since pandemic

The simple answer is that the labor market is rather anemic, and people are being honest about their feelings about the economy.

Labor Department quietly cuts employment growth in half

The median household net worth of older millennials, born in the 1980s, rose to $130,000 in 2022 from $60,000 in 2019, according to inflation-adjusted data from the Federal Reserve Bank of St. Louis. Median wealth more than quadrupled to $41,000 for Americans born in the 1990s, which includes the generation’s youngest members, born in 1996.

Millennials rising

Despite inflation cooling to the lowest level in more than three years in July, there’s no way around the fact that consumer prices in the United States have risen sharply over the past three years, as several factors came together to form a perfect storm of inflationary pressures.

Categories hit hardest by inflation

bootstrap: Pulling oneself up by the bootstraps is the idea that a person can succeed “without help from others and as a result of one’s own hard work.” Ironically, this metaphor is widely used to represent the American dream of social and economic mobility through self-reliance. When first coined it described an absurd, impossible feat. How did bootstrap-pulling go from a ridiculous idea to an American ideal? Bootstraps are a loop attached to the back of a boot to help the wearer pull it on. The idiom dates back to 1834 when Mr. Murphee satirically described being “enabled to hand himself over a barn yard fence by the straps of his boots.” It appears throughout the 19th century, often in the company of other metaphors for ludicrous impossibilities such as “sitting in a wheelbarrow and trying to wheel yourself” and “getting rich by taking money from one pocket and putting it in another.”

Has capitalism come at the expense of the poor?

The council just approved a ban on websites that offer data about local rental markets and help landlords set their rents. The council blames these tools for exploding housing costs.

San Francisco city council targets free speech to cover up its...

If this debate eventually does come to a boil, the Supreme Court may need to further clarify its position on Skidmore jurisprudence. But for now, appellate litigators would be wise to steer clear of deference-based argumentation.

New game post-Chevron

According to a 2021 study by the University of California, Los Angeles and U.C. Berkeley, over one-third of public school employees are “rent-burdened,” meaning housing costs consume more than 30 percent of their income. The issue is particularly severe for food service workers, more than half of whom are affected.

California to turn unused school land into millions of housing units

Absorption rates have notably risen from 118,000 units in the first quarter to 166,000 in the second, fostering optimism among industry experts about a potential shift from decelerating fundamentals to a growth phase.

Market set for recovery

Would a YIMBY building boom rejuvenate urban family life or produce sterile, megacity hellscapes?

The housing theory of childless cat ladies

Insider fraud in this game could negatively affect investment funds, pension accounts, 401Ks, employee livelihoods, access to capital and even personal safety for residents.

Insider fraud in multifamily leasing: Is it happening under your nose?

Stricter land-use regulations force builders to spread their efforts over a large number of relatively small projects, limiting the number of homes they’re able to build. This, in turn, limits their ability to invest in better homebuilding technology or otherwise take advantage of economies of scale.

Is land-use regulation holding back construction productivity?

“Sitting empty:” Vast expanse of federal land eyed for new housing

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