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When Washington bureaucrats hold the reins of power

The Biden administration was in a box in late July. They desperately wanted to extend the Centers for Disease Control and Prevention’s controversial eviction moratorium. But the judicial writing was on the wall. They...

Absolute zero

Decades of underinvestment and underbuilding continue to deepen a national housing shortage decoupled from demand since the 1980s. This was recently underscored by a report released in June by the National Association of Realtors...

Only dead fish swim with the current

It’s a glorious day in the rental business. I would say apartments, but the industry has been transitioning—again—to include single-family rentals (Demand drives pricing and Blackstone buys SFR portfolio). Moving with the market is our...

Consider the alternative

The pandemic has made large cash deposits a financial burden for some residents seeking to relocate. Providing alternatives to security deposits makes move-in more accessible and reduces long-term risk across multifamily portfolios. Some state and...

Rent relief for some

California Governor Gavin Newsom, along with leaders of the California state Assembly and Senate, reached agreement on Assembly Bill 832. This will increase the portion of unpaid rent owed by the state’s renters which...

Demand drives pricing

The U.S. multifamily sector remains an attractive option for real estate investors looking for a safe haven. Beyond the pool of traditional buyers who are actively acquiring apartment properties, the sector has become a...

The value of a road

A growing movement of local governments and communities across the United States is beginning to grapple with an unfortunate realization: The highway boom of the 1950s and ‘60s produced a massive amount of infrastructure...

CDC extends eviction moratorium—again

Dr. Rochelle Walensky, the Director of the Centers for Disease Control (CDC), has extended the agency’s eviction moratorium for renters until July 31, 2021. The agency says that this extension is intended to be...

How many will work remotely post-pandemic?

For all we know about our current housing market, the sources of demand, the supply headwinds and the changing financing landscape, one key variable has been unclear to us since the pandemic began: just...

Property rights versus labor unions in the Supreme Court

As the Supreme Court’s recent Obamacare case illustrates, the justices no longer enforce most of the Constitution’s limits on the federal government. But a new property rights decision demonstrates how they are super-enforcing the...

Fighting the CDC eviction ban

In the midst of the COVID pandemic, the Centers for Disease Control (CDC) took the unprecedented step of banning evictions nation-wide, characterizing the action as a public health measure. The action spawned lawsuits across the...
Bullewijk Apartments

Facts don’t care

I was raised in a multi-generational family business. There I learned classic principles of market economics long before I learned what it was called. It was a great Midwestern foundation because certain universal principles...

How Californians have weaponized environmental law

By any reasonable metric, the empty lot on the corner of First and Lorena Street in the Boyle Heights neighborhood of Los Angeles is a natural place to build housing. With a bus stop...
Builders gonna build

Builders gonna build

The global pandemic didn’t stop developers from planning new apartments projects—often in smaller, quickly growing metro areas. The boom in apartment construction that began around 2015 barely slowed down in 2020, despite a global...

Biden reinstitutes Obama policies

Long before coronavirus and lockdowns, millions of U.S. households suffered from a shortage of housing that pushed rents higher and outpaced wage growth. Now the U.S. is beginning to recover from the pandemic and ensuing...
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