Apartment owners, Darby Development v. United States
The Darby Development Company, Inc. v. United States lawsuit is a landmark case for apartment owners, whose rights and livelihoods were profoundly impacted by the COVID eviction moratorium. Through their perseverance and legal advocacy,...
Banks raise holdings of multifamily mortgage debt in Q1
The Mortgage Bankers Association (MBA) reported that multifamily mortgage debt outstanding rose by $19.88 billion in Q1 from the revised level of the quarter before. Total multifamily debt reached a level of $2.159 trillion....
Be smart about heating and cooling
I once counted how many thermostats there were in the common areas of a three-building midrise property to see if there were ways we could optimize our energy usage. It turned out that that...
Consumer delinquencies are rising, but context matters
Consumer delinquencies are rising, but context matters, especially in a market still normalizing after pandemic-era disruptions. As the multifamily sector seeks clarity amid macroeconomic crosscurrents, one trend is beginning to raise flags:...
Construction materials prices continue steady climb
The producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices rose 0.2 percent month-over-month in May on a seasonally adjusted basis. The index of components and...
Multifamily CMBS special servicing rate lower in May
Trepp reported that the special servicing rate for multifamily commercial mortgage-backed securities (CMBS) loans fell in May. It is now back to its level in January. However, the overall CMBS special servicing rate on...
Speak now …
I always thought that the line in a wedding ceremony “If anyone feels these two should not be married, speak now or forever hold your peace” was weird. Who would procrastinate until the very...
HBGI shows multifamily shifting to smaller metros
The National Association of Home Builders (NAHB) recently released its Home Builders Geography Index (HBGI) report for Q1 2025. It showed a shift in multifamily permit activity from more densely populated areas to less...
Soft month for multifamily employment despite overall rise
The Employment Situation Report from the Bureau of Labor Statistics (BLS) stated that the economy continued to add jobs in May. However, the employment levels for 3 of the 4 multifamily-related job categories we...
Renter stereotypes don’t match reality, says analyst Jay Parsons
Yesterday, real estate market analyst Jay Parsons challenged a common myth about American renters in a LinkedIn post that drew on fresh data from some of the nation’s largest publicly traded apartment...
Rent growth continues positive in May
Yardi Matrix reported that the national average asking apartment rent was up $6 in May from the revised level of the month before at $1,761 per month. The national average year-over-year asking apartment rent...
Listen to this!
My husband likes to work on vintage cars. Turning a wrench is his yoga and he likes giant engine bays which are like giant crocodile mouths that he must lean into. Often, I find...
Job openings and hiring up in April
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of total non-farm job openings in April ticked up to 7.39 million. Construction job openings...
CoStar: multifamily property prices lower
CoStar reported that its value-weighted index of multifamily property prices fell 1.34 percent month-over-month in April, an acceleration of last month’s reported decline. However, this index was up 4.0 percent year-over-year.
By contrast, MSCI Real...
Multifamily CMBS delinquency rate lower in May
Trepp reported that the delinquency rate for multifamily commercial mortgage-backed securities (CMBS) loans decreased in May after two months of sharp gains. However, the overall CMBS delinquency rate rose slightly, gaining 5 basis points...
