Multifamily industry excluded in FTC’s final rule on junk fees
The multifamily industry was excluded in the Federal Trade Commission's (FTC) final "junk fees" rule that targets bait-and-switch pricing tactics that result in unfair competition. The FTC published its final rule on...
Multifamily starts reported sharply lower
The Census Bureau’s new residential construction report stated that multifamily permits jumped higher in November but both starts and completions were sharply lower month-over-month. Multifamily permits rebound The number of permits issued for buildings with...
Rent growth follows seasonal pattern
Yardi Matrix reported that the national average asking apartment rent was down $5 in November compared to the revised level of the month before at $1,744 per month. The national average year-over-year asking apartment rent...
Construction materials prices up again in November
The producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices rose 0.3 percent month-over-month in November on a seasonally adjusted basis. In addition, the change in...
Shower the people …
There is no question that winter is here, which makes hot showers even more glorious. I must really watch my timer to ensure that my shower time is reasonable and not indulgent. Maybe my...
Yardi Matrix: expenses and income grow in tandem in affordable housing
On December 3, Yardi Matrix released its first-ever report on expense and income growth in the affordable housing sector. The report concludes that expenses and income have grown in tandem at above-level...
Positive employment growth seen in November
The Employment Situation Report from the Bureau of Labor Statistics stated that overall employment growth bounced back in November after last month’s collapse. In addition, last month’s employment level was revised higher in this...
Rent growth remains in autumn lull
The latest rent report from Apartment List shows that the national median monthly rent growth in November was -0.82 percent. Year-over-year rent growth was -0.62 percent. Rents have fallen on a year-over-year basis since...
Multifamily CMBS special servicing rate jumps in November
Trepp reported that special servicing rate for multifamily commercial mortgage-backed securities (CMBS) loans moved higher for the fourth month in a row in November, jumping 116 basis points. The overall CMBS special servicing rate...
Criminal investigation of RealPage dropped
RealPage announced Friday, December 6 that the U.S. Department of Justice (DOJ) notified them that the DOJ was dropping its criminal investigation of RealPage for its multifamily rental housing pricing practices. The civil suits...
GRESB is where the action is
One of my favorite Elvis Presly songs, “A little less conversation” starts with the lyric, “A little less conversation a little more action, please”, which speaks to my soul. I like practicing sustainability and reporting...
Multifamily CMBS delinquency rate jumps in November
Trepp reported that delinquency rate for multifamily commercial mortgage-backed securities (CMBS) loans rose sharply in November, more than reversing last month’s decline. The overall CMBS delinquency rate also rose, climbing another 42 basis points...
Job openings higher in October
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in October was 7.74 million. This was reported to be up 372,000...
Multifamily construction spending slide continues
The Census Bureau’s report on construction spending said that the value of multifamily residential construction put in place in October was up 0.16 percent from the revised level of the month before. Spending on...
CoStar: multifamily property prices higher in October
CoStar reported that its value-weighted index of multifamily property prices rose 1.4 percent month-over-month in October. This index was down 7.1 percent year-over-year. Note that the month-over-month price movement reported by CoStar varies significantly from...
