Thursday, September 19, 2024

National

Articles with a National focus

Why Johnny can’t build

Why Johnny can’t build

We were once a nation of builders—from the toll roads and canals of the early nineteenth century and the railroads of the second half of that busy century, to the construction of power, energy,...
The U.S. Supreme Court justices return to the bench the second week of June to issue opinions in argued cases. The court has somewhere around 28 decisions left to release before it begins its summer recess.

Major U.S. Supreme Court decisions coming down the track MAJOR UPDATE

June 28, 2024 Update: The Supreme Court in an unprecedented victory for multifamily and other businesses, has today reversed its 40-year-old decision in Chevron v. Natural Resource Defense Council. This law governed how courts...
One of the pivotal court decisions behind the expansion of the administrative state was the 1984 ruling in Chevron v. Natural Resources Defense Council.

Lawyers take big government to the Supreme Court

“We all get to vote, but the ability to make legislation is no longer in the hands of the people we elect,” Columbia law professor Philip Hamburger said. As the administrative state implements more regulations...
The $10 billion fund from Starwood Capital Group has been trying to preserve its available cash and credit by limiting investor redemptions. In the first quarter, the fund was hit with $1.3 billion in withdrawal requests but satisfied less than $500 million of them, according to regulatory filings.

The incredible disappearing Starwood CRE investor

The $10 billion fund from Starwood Capital Group has been trying to preserve its available cash and credit by limiting investor redemptions. In the first quarter, the fund was hit with $1.3 billion in...
High interest rates have stranded the owners of overleveraged apartment properties worth billions of dollars.

Investors circle overleveraged apartments

Rescue capital is available for apartment borrowers that need it, but relatively few owners of over-leveraged apartment properties are willing to pay the price—so far. High interest rates have stranded the owners of over-leveraged apartment...
A 2024 decision by the New Jersey Supreme Court in Players Place II Condominium Association, Inc. v. K.P. applied federal and state law and provides important guidance for an HOA to avoid a housing discrimination claim.

How to assess a resident’s request for an emotional support animal

Multifamily housing providers are faced with increasing requests from residents with disabilities for emotional support animals (ESA). Requests for ESAs are generating more enforcement actions. In 2020, the U.S. Department of Housing and Urban Development...
Present day Rockford Watch Company opened near the Rock River in Rockford, Illinois. the factory’s vivid history includes a number of contrasts: years of great prosperity followed by market competition and insolvency in 1896, followed by successful reorganization headed by Jacob Franks and Max C. Eppenstein in 1901. a fire in July, 1903, followed by a lightning strike in September, 1903, destroying the chimney, boiler house and large part of the machine room. Some months later lay-offs were announced. After producing nearly a million pocket watches, the factory closed in 1915.

Deal watch

Oliver Emerson Development, a father-son duo, wants to turn the former Rockford Watch Co. factory in Rockford, Illinois, into affordable housing. “To be able to do it with my father and be able to contribute...
Rent control still the wrong solution to housing woes

Rent control still the wrong solution to housing woes

Restricting the price of housing kills incentives to supply places to live. Rent control is having something of a moment: In Los Angeles, tenants are invoking a law that imposes limits on apartments built on...
Plaintiffs argue that the Department of Energy has no legal authority to impose its own water use limits on energy-consuming home appliances.

Rules that make dishwashers, wash machines perform worse also illegal

Plaintiffs argue that the Department of Energy has no legal authority to impose its own water use limits on energy-consuming home appliances. The federal regulations that make dishwashers and washing machines worse are also illegal....
Interest rates slow apartment development

INFOGRAPHIC: Interest rates slow apartment development

Rising interest rates, tighter lending and flattening rents in parts of the country have left property companies from California to Florida waiting for financing that may not come soon. +500 days (up 45% from 2019)...

INFOGRAPHIC: Appliance payoff models explode

^58 percent increase in requested quotes to thousands of appliance repair businesses y/y (2022-2023) ^43 percent increase in appliance spend in 2023 compared to 2013—rising from $390 to $558 over the decade Why? 1987. Home appliances...
Disparate impact of high interest rates

INFOGRAPHIC: Disparate impact of high interest rates

Disparate impact of high interest rates has adversely impacted millions of low- and middle-income families—and housing providers. More often high interest rates depress stock and housing prices, and other asset values— impacting all income...
PRO IN THE KNOW Runaway federal debt destabilizes resident incomes, interferes with housing production and depresses apartment rents

INFOGRAPHIC: Demoralization in 1 easy step

spend like there’s no tomorrow Runaway federal debt destabilizes resident incomes, interferes with housing production and depresses apartment rents (PRO IN THE KNOW) $35 trillion debtor Unrepentant, compulsive, unsustainable, untethered U.S. interest payment scenarios U.S. payments and rate projections...
National rent control didn’t pan out, so in order to crack down on “big landlords who break antitrust laws by price-fixing and driving up rents,” the Biden administration’s latest scheme is to enlist the U.S. Department of Justice and Federal Trade Commission as antitrust enforcers. Such irony would be funny if this didn’t undermine the homes that the nation so desperately needs.

Monopolies, elections and power, oh my

Technology is engineered toward empowering individuals, not government. Therein lies the problem. From the Gutenberg press to automobiles to a networked world enabling people to work remotely, history’s greatest innovations—in some way great or small—liberate...
“What you don’t have, and what’s required for collusion, is a horizontal agreement among competing property operators to all use that software and to delegate their rent setting authority to a third party. “From what I’ve seen, and from what we’ve been able to discern from the industry, there’s nothing like that happening,” said David Cross, a partner at San Francisco-based Morrison & Foerster’s antitrust litigation practice.

Multifamily faces antitrust litigation

With national elections around the corner, some of the nation’s largest apartment companies are facing antitrust litigation over usage of a product that has become increasingly important to the industry since the first multifamily...
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