Seattle’s Fair Chance Housing Ordinance largely upheld
A three-judge panel of the 9th Circuit Court of Appeals has struck down one provision of Seattle’s Fair Chance Housing Ordinance while leaving key parts of the law intact. The law was passed by...
Multifamily mortgage originations leap higher in Q4
A report from the Mortgage Bankers’ Association (MBA) says that there was a sharp rise in multifamily mortgage originations in Q4 both on a quarter-over-quarter and on a year-over-year basis.
Tracking multifamily mortgage originations
The first...
In a critical victory for the multifamily industry, California voters defeat Prop 10
Statement from National Multifamily Housing Council (NMHC) CEO Doug Bibby on California Ballot Initiative Proposition 10:
“California voters sent a resounding message yesterday that rent control is not the answer to solving the housing affordability...
Industry associations respond to Supreme Court WOTUS ruling
In Sackett v. EPA, the Supreme Court ruled 9-0 that the Clean Water Act only applies to wetlands that have a continuous surface connection to bodies that are waters of the United States (WOTUS)....
CDC extends eviction moratorium
Dr. Rochelle Walensky, the Director of the Centers for Disease Control (CDC), has extended the agency’s eviction moratorium until July 31, 2021. The agency says that this extension is intended to be the last.
The...
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...
Fannie Mae forecasts higher near-term growth
Fannie Mae recently issued its May forecasts for the economy and for housing. They show slightly higher growth in 2021 and much higher multifamily housing starts than did the February forecast.
GDP forecast higher for...
NAA seeks monetary damages from unlawful eviction moratorium
The National Apartment Association (NAA) filed a lawsuit in the U.S. Court of Federal Claims to recover damages on behalf of rental housing providers who have suffered severe economic losses under the U.S. Centers...
Construction materials prices resume rise in September
The producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices were up 0.2 percent month-over-month in September on a seasonally adjusted basis. In addition, last month’s...
Job openings rebound 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 9.61 million, up 690,000 openings month-over-month. In addition, last...
Multifamily property prices rise at near-record pace
A new report from Real Capital Analytics (RCA) said that multifamily property prices rose 23.0 percent year-over-year in April and that they rose 1.3 percent from the month before. The annual rate of increase is...
