Composting considerations
Rolling out a composting program on a multifamily property is hard. It smells. It is super confusing. It is also not always delightful to talk about. I am going to make it worse. Let’s...
Builder confidence falls again as interest rates remain high
Mortgage rates that continue to hover in the 7% range along with elevated construction financing costs continue to put a damper on builder confidence. Builder confidence in the market for newly built single-family homes...
Growth in multifamily mortgages outstanding rises in Q1
The Mortgage Bankers Association (MBA) reported that growth in multifamily mortgage debt outstanding in Q1 2024 was up significantly from the revised level reported for Q4 2023. However, the growth in debt outstanding in...
Multifamily property investment environment improves in Q1
Freddie Mac recently released its Apartment Market Investment Index (AIMI) for Q1 2024. The national index was up 8.8 percent in the quarter, indicating improving conditions for multifamily property investment. The improvement was largely due...
LA County extends rent increase cap
The Los Angeles County Board of Supervisors extended their 4 percent cap on rent increases for certain properties for another 6 months. The cap is now expected revert to its former level at the...
Construction material prices flat in May despite jump in copper wire prices
The producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction material prices were unchanged month-over-month in May on a seasonally adjusted basis. However, the change in construction material...
Preleasing up at Yardi 200 schools as rent growth slows
Yardi Matrix released its June 2024 student housing report on the 12th. According to the report, preleasing at Yardi 200 schools continued its upward momentum in May, reaching 80 percent, up from...
Study and prepare to dominate the test
I am different from my family in many ways. To me the most striking difference is in our disparate aptitudes. If you conduct a quick internet search on Buzz Nitschke or Bear Nitschke you...
Yardi Matrix reports on a bifurcated economy
Yardi Matrix recently released their mid-year update on the state of the multifamily housing market. It discusses the state of the economy, the impact of anticipated new supply on rents and the impact of...
Fed foresees only one rate cut in 2024
Federal Open Market Committee (FOMC) met this week and decided to keep interest rates unchanged. The Fed forecast that interest rates will end 2024 higher than they predicted in recent forecasts and will decline more...
DoE defines zero
The U.S. Department of Energy (DoE) has released a document defining what qualifies a building to be called “zero emissions”. The DoE states that they intend their definition to “support the buildings sector moving...
Employment growth accelerates in May
The Employment Situation Report from the Bureau of Labor Statistics (BLS) reported higher than expected overall employment growth in May. However, employment levels in 2 of the 4 of the multifamily-related job categories we...
Apartment occupancy holds steady amid historic supply
Apartment occupancy held steady in May, marking the seventh straight month in which occupancy remained at or above 94.1 percent. Rent change fundamentals also remained steady, solidifying the idea that the nation...
In trash we trust
Continuing last week’s discussion about my trust issues, and battle cry of “Don’t Trust THE GUY.” I would like to examine why we trust our waste haulers implicitly. We really do. For those of...
Rents continue slow growth in May
Yardi Matrix reported that national average apartment rent was up $6 in May compared to the revised level of the month before at $1,733 per month. The national average year-over-year apartment asking rent growth was...
