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, which limits the ability of local governments to impose rent...
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 September on a seasonally adjusted basis. However, the change in...
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 industry on October 7. He discussed the impact of new...
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 at $1,750 per month. The national average year-over-year asking apartment rent...
Multifamily CMBS special servicing rate rises again in September
Trepp reported that special servicing rate for multifamily commercial mortgage-backed securities (CMBS) loans continued to move higher in September, rising another 36 basis points. The overall CMBS special servicing rate on commercial property also...
Where can market rate substitute for affordable housing?
Yardi Matrix recently announced focused coverage of the affordable housing market. As part of that coverage, they released a study showing wide variation in how affordable housing rents compare to market rate rents in...
Strong employment growth reported by BLS
The Employment Situation Report from the Bureau of Labor Statistics stated that overall employment growth rose in September from the gain initially reported for last month. In addition, last month’s employment level was revised...
Rents fall in autumn
The latest rent report from Apartment List shows that the national median monthly rent growth in September was -0.48 percent, a larger decline than last month’s 0.13 percent drop. Year-over-year rent growth was -0.71...
Who’s to blame for the affordability crisis?
Who's to blame for the affordability crisis? Jay Parsons, multifamily housing analyst and head of investment strategy and research for Madera Residential, suggests that the media is pointing fingers in the wrong...
Who’s afraid of the BPS?
I love that my neighborhood leans into Halloween. The witches, ghosts, and skeletons are filling the yards down our block. Some are animatronic/motion activated with limbs stiffly gesturing, saying phrases like, “I will be...
Multifamily construction spending lower in August
The Census Bureau’s report on construction spending said that the value of multifamily residential construction put in place in August was down 0.35 percent from the revised level of the month before. Spending on...
Construction job openings up sharply in August
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in August was 8.04 million. This was reported to be up 329,000...
Multifamily CMBS delinquency rate edges higher
Trepp reported that delinquency rate for multifamily commercial mortgage-backed securities (CMBS) loans rose again in September, but only by 3 basis points basis points. This comes after four months where multifamily delinquencies increased by...
CoStar: multifamily property prices down in August
CoStar reported that its value-weighted index of multifamily property prices fell 1.3 percent month-over-month in August, doubling last month’s reported decline. This index was down 9.8 percent year-over-year. The value-weighted index of non-multifamily commercial property...
Student housing demand normalizing
Student housing demand appears to be normalizing to a more sustainable trend after record occupancy rates in Fall 2022 and 2023. This is one of the take-aways from the student housing market...
