Multifamily mortgage originations rise and return to seasonal pattern
A report from the Mortgage Bankers’ Association (MBA) says that multifamily mortgage originations were up 56 percent year-over-year in Q3. Originations of all commercial mortgages as a single asset class rose 59 percent year-over-year. Commercial...
Rent growth continues seasonal downturn in October
Yardi Matrix reported that the national average asking apartment rent was down $3 in October compared to the revised level of the month before at $1,748 per month. The national average year-over-year asking apartment rent...
Multifamily CMBS delinquency rate declines in October
Trepp reported that delinquency rate for multifamily commercial mortgage-backed securities (CMBS) loans fell in October, breaking a string of 5 consecutive monthly increases. However, the overall CMBS delinquency rate continued to rise, climbing 28...
Multifamily scores ballot winners and losers
The USA is preparing to swear in President-elect Donald J. Trump as its 47th president, or what some housing experts call the return of the nation’s builder-in-chief. Housing was a major focus...
New multifamily research project launches: EVENT HORIZON
AI is changing the world right before our eyes. Already in wide use by federal agencies, banks and insurance providers, AI is adding value to industries across the board. Need an example? When was the...
Multifamily developer sentiment subdued despite positive occupancy
Confidence in the market for new multifamily housing showed mixed results year-over-year in the third quarter, according to results from the Multifamily Market Survey (MMS) released November 7 by the National Association of Home...
Rent control fails (again) in California
Proposition 33, the latest attempt to open the door to rent control in California, went down to defeat Tuesday. It was supported by only 38.4 percent of the voters compared to the 61.6 percent...
Winter is coming
It is that time of year again! I know that some individuals are focusing on politics this week. This is understandable, but it is important for us to also focus on a critical aspect...
Multifamily construction spending continues to fall
The Census Bureau’s report on construction spending said that the value of multifamily residential construction put in place in September was down 0.10 percent from the revised level of the month before. Spending on...
Employment growth disappoints in October
The Employment Situation Report from the Bureau of Labor Statistics stated that overall employment growth collapsed in October. In addition, last month’s employment level was revised lower in this month’s report, so total employment...
Redfin survey suggests a majority of Americans favor rent control
A recent survey commissioned by Redfin exposes a stark misconception among Americans about rent control. Although economists are in almost total agreement that rent control drives up rent rates over time and...
CoStar: multifamily property prices rise in September
CoStar reported that its value-weighted index of multifamily property prices rose 1.3 percent month-over-month in September, reversing last month’s reported decline. This index was down 7.9 percent year-over-year. Note that CoStar's report indicates that prices...
Keep them with stitches
I grew up in unincorporated Fresno, California (that is the part of Fresno, that Fresno does not want.) There were not a lot of extracurricular activities that were of interest to me, so I...
Number of renter households continues rapid growth in Q3
The Census Bureau’s quarterly report on home ownership and occupancy for Q3 2024 stated that the rental housing vacancy rate was 6.9 percent. This was up 0.3 percentage points since last quarter’s report despite...
Job openings down sharply in September
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in September was 7.44 million. This was reported to be down 418,000...
