2023 GSE multifamily loan purchase caps set
The Federal Housing Finance Agency (FHFA) announced that the 2023 multifamily loan purchase caps for Fannie Mae and Freddie Mac (the Enterprises) will be $75 billion for each Enterprise, for a combined total of...
Rent growth resumes in October
Yardi Matrix reported that national average apartment rent growth turned positive in October with rents increasing $3 from September’s revised level to $1,727 per month. YoY rent growth rate slide continues The national average asking apartment...
Housing affordability falls to more than 10-year low as rising interest rates take a...
Housing affordability fell to its lowest level since the National Association of Home Builders (NAHB) began tracking it on a consistent basis in 2012 as rising mortgage rates, ongoing building material supply chain disruptions,...
Multifamily mortgage originations underperform in Q3
A report from the Mortgage Bankers’ Association (MBA) says that originations of multifamily mortgages in Q3 were down 16 percent on a year-over-year basis. Originations of all commercial mortgages as a single asset class...
ESG hits U.S. legal speedbumps
ESG (environmental, social, governance) is now a significant part of the U.S. rental landscape in the form of lending programs, energy efficiency certifications and a growing number of diversity, equity and inclusion (DEI) departments...
The long senior moment
It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, began Charles Dickens in A Tale of Two Cities. This...
Trepp looks at the state of CMBS loans in Q3
A new report from Trepp takes a look at the state of commercial mortgage-backed securities (CMBS) lending in Q3 2022. While the report covers lending for all commercial property types, this article focuses on...
Rising employment reported for apartment operations
The October Employment Situation Report from the Bureau of Labor Statistics stated that employment in apartment operations jobs rose while employment in residential construction jobs was nearly unchanged. Economy continues to produce jobs The Bureau of...
Rental vacancy rates rise in Q3
The Census Bureau released its quarterly report on home ownership and occupancy for Q3 2022. It showed that the rental housing vacancy rate was 6.0 percent, up from a level of 5.6 percent in...
Rent delinquencies tick higher in Pulse Survey
The “Week 50” edition of the Census Bureau’s Pulse Survey shows that the portion of renters with rent delinquencies rose to 14.0 percent, up from the survey low of 12.3 percent reported in the...
Residential construction spending shifts to improvements
The Census Bureau’s report on construction spending shows that the value of multifamily residential construction put in place in September was up 0.3 percent month-over-month. Spending on single-family fell, with spending on improvements rising...
Job openings rebound in September
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings rose in September from last month’s level. In addition, last month’s job...
Apartment market conditions soften amidst rising interest rates
Rising interest rates caused by the Federal Reserve’s ongoing efforts to combat inflation continue to impact the multifamily business. However, it is worth noting that the overall apartment market has begun to revert to...
Rents fall again in October
The latest rent report from Apartment List shows that the national average rent growth in October remained negative for the second consecutive month. Rents fell 0.8 percent month-over-month, although year-over-year rent growth remained positive,...
ULI releases Emerging Trends in Real Estate 2023
The Urban Land Institute (ULI) released the latest edition of its Emerging Trends series. The 2023 edition takes a broad look at emerging influences on the commercial real estate market and also takes a...
