Commercial property owner sues L.A. County over eviction ban
The owner of a commercial building filed a lawsuit challenging Los Angeles County’s moratorium on commercial evictions. The lawsuit is the first to challenge a commercial eviction moratorium. Howard Iten is a retired auto mechanic who leases his garage...
Construction materials prices edge higher as lumber rebounds
The Bureau of Labor Statistics (BLS) released its producer price index report for December 2020. It showed that the BLS price index of materials and components for construction was up 0.8 percent from November,...
RealPage presents 2021 market outlook
RealPage recently presented a webinar forecasting the likely trends for the multifamily housing market over the next two years. Presenters were Greg Willett, Chief Economist, and Adam Couch, Market Analyst. The webinar spent significant time...
Rents fall in December
The latest rent reports from Yardi Matrix and Apartment List continue to show declining rents for the country as-a-whole. However, they both also show wide variations in results between different metro areas. Rent slide continues...
Jobs market stalls at year-end
Two recent reports from the Bureau of Labor Statistics (BLS) describe the current labor situation. They are the Employment Situation Report for December and the Job Openings and Labor Turnover (JOLT) report for November....
Ginnie Mae closes 2020 with December MBS volume at record $81.7 billion
In December, Ginnie Mae mortgage-backed securities (MBS) issuance surged to above $81.7 billion, financing housing for more than 289,000 households. December was the sixth consecutive month that MBS issuance exceeded $70 billion. A record 57...
Rent Payment Tracker: payments up slightly from last month
The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 76.6 percent of apartment households made a full or partial rent payment by January 6 in its survey of almost 11.3 million units of...
Single-family rentals continue to capture investor interest amid the pandemic
Single-family rental (SFR) housing, comprising 16 million housing units in the United States, continues to drive institutional investor interest, and JLL Capital Markets has capitalized on the trend by creating a new team to...
Rent delinquencies grow
The latest version of the Census Bureau’s Pulse Survey shows that a large and increasing portion of renters are behind on their rent payments. Taking our pulse The Pulse Survey is an experimental program that the...
Residential construction spending up in November
The Census Bureau’s report on residential construction spending for November shows a 2.7 percent increase from October’s level. Overall construction spending was up 0.9 percent for the month and was 3.8 percent higher than...
Amazon launches $2 billion Housing Equity Fund to preserve and create over 20,000 affordable...
Amazon announced the Housing Equity Fund, a more than $2 billion commitment to preserve and create over 20,000 affordable housing units in Washington State’s Puget Sound region; Arlington, Virginia; and Nashville, Tennessee—three communities where...
Freddie Mac Multifamily to extend COVID-19 forbearance program
Freddie Mac has extended to March 31, 2021 the deadline for requesting a new or supplemental COVID-19 forbearance agreement for its Multifamily loans. The program was previously set to terminate at the end of 2020....
Fannie Mae updates 2021 and 2022 forecasts
Fannie Mae recently revised its economic outlook for 2021. The new forecast predicts significantly higher growth over the next two years than their last forecast from only one month ago. The economists at Fannie...
Multifamily industry responds to passage of COVID relief package
Congress passed a $900 billion pandemic relief package that would finally deliver long-sought cash to businesses and individuals and resources to vaccinate a nation confronting a frightening surge in COVID-19 cases and deaths. Lawmakers tacked...
RealPage to be acquired by Thoma Bravo
RealPage, Inc., a leading global provider of software and data analytics to the real estate industry, announced it has entered into a definitive agreement to be acquired by Thoma Bravo, a leading private equity...
