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Homebuilding and the Housing Shortage from the Multifamily Perspective
Source – RealPage: “Some Perspective on the 50-Year Peak in Apartment Supply Volumes” A look at apartment supply for the year starting in Q3 2023 till Q3 2024. A view from the top, as it were, before apartment supply falls in the months to come. The numbers from the census bureau have YoY new supply…
GO >Home Price Growth Update
Home prices have increased far more than apartment rents in the past five years, but home price growth is not without some limits. Source – CoreLogic: “U.S. Home Price Growth Reaches Lowest Level in a Year in August” After talking up the price growth in the single family home market and how it’s such a…
GO >Fed Rate Cut Aftermath
Many, many takes on the decision from the Federal Reserve Open Market Committee to cut the federal funds rate by half a percentage point. We’ve had a week to digest the news, so what are people saying? Source – CBRE: “Fed Makes First of Several Expected Rate Cuts” A brief, straightforward report from CBRE that…
GO >Apartment Demand and Middle-Income Housing Affordability
Source – Cushman & Wakefield: “Unpacking Multifamily Supply Risks and Demand Booms” This report from Cushman & Wakefield has a direct connection to a recent report from Apartment List, citing that very same low homeownership rate of Millennials as a demand driver for the multifamily market. The graph that they have breaks down homeownership rates…
GO >Gray Capital Acquires $112M of Multifamily Assets in 2024 with the Acquisition of Solana at the Crossing
3 September 2024, Indianapolis, IN: Gray Capital is pleased to announce the acquisition of Solana at the Crossing, a 384-unit class A apartment community built in 2014 and located on the north side of Indianapolis, IN. Solana is Gray Capital’s eleventh apartment asset in the Indianapolis area. With three full-cycle multifamily investment projects completed in…
GO >Housing Proposals from the Harris Campaign
The White House: “Remarks by Vice President Harris at a Campaign Event in Raleigh, NC” [focusing on the economy and touching on housing and rents] – https://www.whitehouse.gov/briefing-room/speeches-remarks/2024/08/16/remarks-by-vice-president-harris-at-a-campaign-event-in-raleigh-nc/ I marshaled a short list of materials to provide a more detailed account of housing policy discussions connected to the Kamala Harris campaign. Amplified by Kamala’s recent remarks…
GO >Lower Interest Rates “Paving Way for Invigorated CRE Investment”
Institutional Property Advisors: “Interest Rates Trend Lower, Paving Way for Invigorated Commercial Property Investment” This research brief roughly summarizes a lot of what’s being expected and projected in the CRE market: Expecting: A rate cut. Projecting: Lower borrowing costs. Etc. Could it be a 25 basis point or 50 basis point rate cut? Will Ten-Year…
GO >Unlocking single-family rental (SFR) trends early and accurately
Source – John Burns Research and Consulting: “Unlocking single-family rental (SFR) trends early and accurately” A month ago, we covered a brief post from John Burns Research and Consulting about birth rate, population trends, and different life stages as a factor in housing trends, specifically looking at how these might impact a decision to move…
GO >President Biden Announces Major New Actions to Lower Housing Costs by Limiting Rent Increases and Building More Homes
Source – The White House: “President Biden Announces Major New Actions to Lower Housing Costs by Limiting Rent Increases and Building More Homes” I did not anticipate getting news of a Biden-administration rent cap proposal when we were discussing the topic of rent control this week. Spencer mentioned how Biden brought up the idea during…
GO >The State of the Nation’s Housing 2024
Source – Harvard Joint Center for Housing Studies: “The State of the Nation’s Housing 2024” This is a big one, and we’ll likely be digging into this and discussing it in future episodes of the Gray Report, but we’ve got an overview of the main points to discuss today, and we kindly direct our audience…
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