Construction materials prices trend lower in May
The May producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices fell 0.1 percent month-over-month, seasonally adjusted. The index of components and materials for construction was...
Multifamily CMBS delinquencies edge lower in May
Trepp reported that both delinquency rates and special servicing rates for multifamily CMBS loans declined slightly in May. Delinquency rates and special servicing rates for the overall CMBS market rose driven by problems with...
Rent growth picks up in May
Yardi Matrix reported national average apartment rent growth of $7 in May, bringing rents to $1,716 per month. The increase is up by $2 from last month’s reported value. Year-over-year rent growth rates down again The...
Housing affordability posts solid gain but still much lower from a year ago
Solid nominal wage gains (unadjusted for inflation) combined with lower mortgage rates and home prices helped to boost housing affordability at the start of 2023, but ongoing building material supply chain issues and expected...
More than 700 residential construction workers discuss housing issues in hill visits
More than 700 builders, remodelers and associates engaged in all facets of residential construction marched on Capitol Hill to call on Congress to take steps to ease the nation’s housing affordability crisis and make...
Single-family construction slowdown less pronounced in lower density markets
While single-family home building has slowed significantly from pandemic-fueled highs because of higher interest rates and construction costs, the slowdown is less pronounced in lower density markets. Meanwhile, multifamily market growth remained strong throughout much...
Rent control renaissance
Failed attempts to implement rent control remind us there is really only one way to lower housing prices when there is a shortage: build more housing. If one needed any more proof that rent control...
Making it to morning
“Tell us about the American miracle,” someone yelled breaking the crowd’s silence. It was 1981. The event was an international economic summit in Canada, and America was firing on all cylinders. The country was entering...
Infographic: Breaking buildings
Breaking buildings Commercial real estate CLOs (collateralized loan obligations) are mortgages that are packaged into bonds and sold to investors. CLOs are widely used to finance apartments. But the same things that make CLOs...
Infographic: Happy. Happy. Happy.
Happy. Happy. Happy. Job satisfaction hit a 36-year high in 2022. This is great news having moved through a wave of quiet quitting. There’s just one caveat. Worker productivity contemporaneously fell at the fastest...
Infographic: The path less sustainable
In May Environmental Protection Agency (EPA) Administrator Michael S. Regan released a 681-page Emissions Program for comment. If implemented, the plan will significantly increase costs for 62 percent of the U.S. electrical supply at...
Hope and uncertainty
Better times might be just around the corner for apartment investors stressed by the highest interest rates in years. Or interest rates could easily keep rising as federal officials try to smother price inflation. The uncertainty...
The great setting of expectations
Good customer service begins with onboarding. Studies have shown that residents who are satisfied at move-in tend to remain satisfied through renewal and those who are unsatisfied tend not to renew. But resident onboarding is...
The road to $1T
American credit card debt remains at record-breaking heights according to fresh government data as consumers turn to plastic amid stubbornly high prices on everyday items and housing. U.S. credit card debt was $986 billion in...
Summer of blackouts
Two-thirds of North America could face power shortages this summer during periods of extreme electricity demand and spiking temperatures, the nation’s grid reliability monitor warned in May. The North American Electric Reliability Corp. (NERC) found...
