Saturday, November 23, 2024

Rents

Often considered the slowest growing region in the U.S., the Midwest has recently shown surprising improvements, both in the performance of its multifamily markets and in the resilience of the region’s economy. The outperformance comes amid a volatile economic backdrop—the Midwest’s relative stability is one of the region’s defining features and highlights its importance in any multifamily portfolio.

New metrics make Midwest investment attractive

  Recently, the Midwest has shown surprising growth and economic resilience, making this region an attractive candidate for multifamily development, investment and general interest. Often considered the slowest growing region in the U.S., the Midwest has...
According to a 2021 study by the University of California, Los Angeles and U.C. Berkeley, over one-third of public school employees are “rent-burdened,” meaning housing costs consume more than 30 percent of their income. The issue is particularly severe for food service workers, more than half of whom are affected.

California to turn unused school land into millions of housing units

In an effort to address a lack of housing that officials say has contributed to a shrinking teaching workforce, the California Department of Education is planning on converting undeveloped school lots into affordable housing. State...
Would a YIMBY building boom rejuvenate urban family life or produce sterile, megacity hellscapes?

The housing theory of childless cat ladies

Would a YIMBY building boom rejuvenate urban family life or produce sterile, megacity hellscapes? Housing Boom = Baby Bust? America’s low birth rate is in the news again, thanks largely to Vice Presidential candidate Sen. J.D....
Avenue South Residences—56-story residential towers located on the western edge of Singapore’s urban core—will be the tallest buildings created with prefabricated prefinished volumetric construction (PPVC). The 988-unit multifamily housing towers will include 2,984 modules (ADDP Architects).

Mod, mod world

Some of the busiest apartment developers in the U.S. are still trying to use three-dimensional “modules” created in factories to reduce the cost of construction. For more than a decade, modular construction companies promised they...

Who’s to blame for the affordability crisis?

Who's to blame for the affordability crisis? Jay Parsons, multifamily housing analyst and head of investment strategy and research for Madera Residential, suggests that the media is pointing fingers in the wrong...

Multifamily oversupply conditions are improving

Multifamily oversupply conditions are improving, but not out of the woods yet. The good news is that some relief is expected by 2025, but Sunbelt markets may take 12 to 18 months...
CDC eviction moratorium

RealPage breaks silence in response to allegations of price fixing

RealPage breaks silence in response to allegations of price fixing levied by renters' groups and the U.S. Department of Justice, releasing a statement that tells "the real story." The statement is a response...
“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...
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)...
High-income millennials and Gen Zers are choosing Class A apartments over home ownership. Is it a lifestyle choice or the economy?

INFOGRAPHIC: A luxury vibe

High-income millennials and Gen Zers are choosing Class A apartments over home ownership. Is it a lifestyle choice or the economy? National Class A rents average $660 to $2,000 below the average monthly mortgage Hospitality-focused apartments Class...

The price of disorder

I was once pitched a deal in the heart of the Amazon—Manaus, Brazil. What was I buying? Firstly, a commercial asset. But I couldn’t shake my concern around governance. The sanctity of a contract...

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...
supply outpaces demand

Completions outpace new starts by widest levels in decades

Multifamily analysts predict supply will continue to exceed demand this year, keeping vacancy elevated and putting downward pressure on rents. So far in 2024, U.S. multifamily completions are outpacing new starts at...

Increasing apartment supply is slowing new lease-up velocity

Increasing apartment supply is slowing new lease-up velocity, said Madera Residential head of investment strategy and research Jay Parsons. Leasing velocity for newly built apartments is at its slowest pace in recent...
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