Wednesday, December 18, 2024

apartment occupancy

Economics and the hidden order

Economics and the hidden order

The “real world” is calling. But the real world is a real mess. So how do we clean up the mess? That’s a massive task: too big for any one person. This looks like...
Why Johnny can’t build

Why Johnny can’t build

We were once a nation of builders—from the toll roads and canals of the early nineteenth century and the railroads of the second half of that busy century, to the construction of power, energy,...
The U.S. Supreme Court justices return to the bench the second week of June to issue opinions in argued cases. The court has somewhere around 28 decisions left to release before it begins its summer recess.

Major U.S. Supreme Court decisions coming down the track MAJOR UPDATE

June 28, 2024 Update: The Supreme Court in an unprecedented victory for multifamily and other businesses, has today reversed its 40-year-old decision in Chevron v. Natural Resource Defense Council. This law governed how courts...
Gables 12 Twenty One in the Rosslyn submarket of Arlington, Virginia

Bozzuto acquires Gables property

Over the last decade and a half, it has made much more sense for Bozzuto to build rather than buy apartments. However, as it has become harder to pencil out new projects, the Greenbelt,...
The $10 billion fund from Starwood Capital Group has been trying to preserve its available cash and credit by limiting investor redemptions. In the first quarter, the fund was hit with $1.3 billion in withdrawal requests but satisfied less than $500 million of them, according to regulatory filings.

The incredible disappearing Starwood CRE investor

The $10 billion fund from Starwood Capital Group has been trying to preserve its available cash and credit by limiting investor redemptions. In the first quarter, the fund was hit with $1.3 billion in...
High interest rates have stranded the owners of overleveraged apartment properties worth billions of dollars.

Investors circle overleveraged apartments

Rescue capital is available for apartment borrowers that need it, but relatively few owners of over-leveraged apartment properties are willing to pay the price—so far. High interest rates have stranded the owners of over-leveraged apartment...
A 2024 decision by the New Jersey Supreme Court in Players Place II Condominium Association, Inc. v. K.P. applied federal and state law and provides important guidance for an HOA to avoid a housing discrimination claim.

How to assess a resident’s request for an emotional support animal

Multifamily housing providers are faced with increasing requests from residents with disabilities for emotional support animals (ESA). Requests for ESAs are generating more enforcement actions. In 2020, the U.S. Department of Housing and Urban Development...
Present day Rockford Watch Company opened near the Rock River in Rockford, Illinois. the factory’s vivid history includes a number of contrasts: years of great prosperity followed by market competition and insolvency in 1896, followed by successful reorganization headed by Jacob Franks and Max C. Eppenstein in 1901. a fire in July, 1903, followed by a lightning strike in September, 1903, destroying the chimney, boiler house and large part of the machine room. Some months later lay-offs were announced. After producing nearly a million pocket watches, the factory closed in 1915.

Deal watch

Oliver Emerson Development, a father-son duo, wants to turn the former Rockford Watch Co. factory in Rockford, Illinois, into affordable housing. “To be able to do it with my father and be able to contribute...
Rent control still the wrong solution to housing woes

Rent control still the wrong solution to housing woes

Restricting the price of housing kills incentives to supply places to live. Rent control is having something of a moment: In Los Angeles, tenants are invoking a law that imposes limits on apartments built on...
Plaintiffs argue that the Department of Energy has no legal authority to impose its own water use limits on energy-consuming home appliances.

Rules that make dishwashers, wash machines perform worse also illegal

Plaintiffs argue that the Department of Energy has no legal authority to impose its own water use limits on energy-consuming home appliances. The federal regulations that make dishwashers and washing machines worse are also illegal....
Interest rates slow apartment development

INFOGRAPHIC: Interest rates slow apartment development

Rising interest rates, tighter lending and flattening rents in parts of the country have left property companies from California to Florida waiting for financing that may not come soon. +500 days (up 45% from 2019)...

INFOGRAPHIC: Appliance payoff models explode

^58 percent increase in requested quotes to thousands of appliance repair businesses y/y (2022-2023) ^43 percent increase in appliance spend in 2023 compared to 2013—rising from $390 to $558 over the decade Why? 1987. Home appliances...
In February, multifamily distress hit its highest level in 18 months, increasing by 80 basis points over the previous month, according to CRED iQ, which tracks and analyzes data and valuations of more than $2 trillion in commercial real estate (CRE).

2024 could be the year of the distressed deal

Investors are finally starting to take advantage of distress in the multifamily sector, even though the huge wave of distress pundits predicted last year failed to materialize. In February, multifamily distress hit its highest level...
With the property technology market bursting at the seams, how can operators determine which software best suits their needs? And from there what does the process for vetting potential vendors and solutions look like?

What to consider when buying property management software

Operating an apartment community is nearly impossible without the help of property management software. Choosing the right property management software is essential. With the property technology market bursting at the seams, how can operators determine...
One study of Rotterdam, Netherlands, found that the port city’s residents, even with little-to-no space in front of their densely built, urban homes, nonetheless embellished their sidewalks with seats, planters and knickknacks to express themselves.

Happier, more connected neighborhoods

A salve for America’s loneliness epidemic could exist right in front of its homes. Front yards are a staple of many American neighborhoods. Lush plantings, porches or trinkets can capture the attention of passersby and...
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