I have learned from my mistakes. I am pretty sure I can repeat them...
In 2016, I was so very excited and honored to arrange and moderate a panel discussion at NMHC’s OPTECH called “Net Zero: Coming Soon to a Code Near You”. I wanted to help my...
Census reports improving multifamily construction figures for December
The Census Bureau’s new residential construction report for December showed a rebounding multifamily housing construction business, with multifamily construction permits, starts and completions numbers all rising from the levels reported last month. The number of...
CBRE 2024 economic outlook foresees lower rent growth
CBRE recently released its economic outlook for 2024. It predicts that the high level of new deliveries in 2024 will cause rent growth to be lower than what we have seen recently. What’s ahead for...
Builder confidence rises in new year
The National Association of Home Builders (NAHB) reported that mortgage rates well under 7% over the past month have led to a sharp increase in builder confidence to begin the new year. Builder confidence in...
Construction materials prices up again in December
The producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices were up 0.3 percent month-over-month in December on a seasonally adjusted basis. The index of components...
Yardi Matrix reports rents continue to fall at year end
Yardi Matrix reported that national average apartment rents fell $4 in December, compared to the level of the month before. The average rent fell to $1,709 per month. The national average year-over-year apartment asking rent...
Class B is the place to be, say analysts
Class B apartment properties outperformed their luxury siblings in 2023, and most analysts expect they will continue outperforming in 2024. Berkadia concluded that data published in a December 2023 report entitled, “Is...
Sustainability issues to watch in 2024
On Wednesday, January 10, ULI hosted their webcast “ULI Global Sustainability Outlook 2024” where they discussed, not emerging trends, but what key things would be focused on in 2024. The panel discussion reviewed five...
CMBS delinquency and special servicing rates fall slightly
Trepp reported that delinquency rate for multifamily commercial mortgage-backed securities (CMBS) loans declined slightly in December, falling 7 basis points. Trepp also reported that the multifamily CMBS special servicing rate edged downward, falling 8...
Rent growth remains negative in December
The latest rent report from Apartment List shows that the national median monthly rent growth in December was -0.8 percent. Year-over-year rent growth was -1.0 percent. Apartment List reported the national median apartment rent to...
Multifamily employment reported to rise in December
The Employment Situation Report from the Bureau of Labor Statistics stated that December employment levels in 3 of the 4 multifamily-related job categories we track rose from the revised levels of the previous month. Overall...
High-income households drive renter growth
Data from several sources suggests high-income renters drive renter growth.What does it mean that the number of renters with incomes above $100K grew by 61 percent over the past five years? RealPage...
In 2024, resolve to reduce energy loss
We all start the year with resolutions or goals. Some of these goals may be carried over from the prior year. Some are new. “I am going to save money.” “I am going to...
Multifamily construction spending remains steady
The Census Bureau’s report on construction spending said that the value of multifamily residential construction put in place in November was up 0.1 percent from the revised level of the month before. Spending on...
Hiring down despite steady job openings in November
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in November was 8.79 million. This was reported to be down 62,000...
