Resources
Rent Hikes Loom, Posing Threat to Inflation Fight
Source – The Wall Street Journal: “Rent Hikes Loom, Posing Threat to Inflation Fight” This review of the rent growth situation is more interesting than I expected. On the one hand, it might be easy to dismiss it as another article on elevated rent growth that ignores the disconnect between CPI-measured rent growth and the…
GO >What will the pullback in multifamily construction permitting mean for the rental market?
Source – Apartment List: “What will the pullback in multifamily construction permitting mean for the rental market?” “Following a period of record-setting rent growth, the national median rent has since dipped slightly from its late 2022 peak.” This Apartment List article gets at the apartment supply trends that are the specific cause of the dramatic…
GO >Gray Capital Acquires 444-Unit River Club Apartments
24 April 2024, Indianapolis, IN: Gray Capital is pleased to announce the acquisition of Regency Club Apartments, a 444-unit class B apartment community located in Evansville, IN. The property was built in two stages in the 1980s with additional townhomes built in 2006. Gray Capital’s strategy with the property involves an immediate rebrand as River…
GO >Made in the Midwest
Source – CBRE: “Made in the Midwest” Summary The “onshoring” or “reshoring” movement is more closely linked to industrial real estate than apartment real estate, but these plans to bring more manufacturing and production within the country can really transform a market or sub-market. I’m not sure what the effect could be across the country…
GO >CRE Overview: Stable Multifamily, Improving Economy
Source – Moody’s Analytics: “Q1 2024 Preliminary Trend Announcement”Source – The Conference Board: “U.S. Leading Economic Indicators”Source – The Wall Street Journal: “What’s Wrong with the Economy? It’s You, Not the Data” Summary Economy: This isn’t explicitly stated in the Moody’s report, but alongside the GDP revised upward is recent data from the Conference Board…
GO >Biden Administration Takes on Algorithmic “Rent Gouging”
Source – CNBC: “Biden targets ‘rent gouging’ landlords as high housing costs factor into 2024 race” Right up front here, my take on this is that the Biden campaign is lumping rents in with a more generalized critique of corporations raising prices excessively and contributing to inflation. Getting a little deeper—and if we’re talking about…
GO >This Time is Different: Millennials’ Shift from Urban Centers Challenges Back-to-the-City Narrative
Source – Moody’s Analytics: “This Time is Different: A Counter to the Urban Doom Loop Narrative” Mixed-use buildings, “child rearing continues to be delayed into later life,” and “the number of creative professionals, which tend to have a greater proclivity and/or need for urban living, has increased in recent decades” I need to know how…
GO >February 2024 Rental Report: Renting a starter home is more affordable than buying one in all 50 metros
Source – Realtor.com: “February 2024 Rental Report: Renting a starter home is more affordable than buying one in all 50 metros” In every single one of the metros that Realtor.com tracks—every single one—the cost of home ownership is higher than renting. There’s a little bit of strangeness in the title here… “Renting a starter home”?…
GO >Assessing Investor Sentiment: A Window Of Opportunity
Source – CBRE: “Assessing Investor Sentiment: A Window Of Opportunity” I believe that CBRE has felt the winds changing. This is more of a follow-up on their recent investor sentiment survey a few weeks ago, but there are some juicy takeaways here. Some solid analysis, and the first sentence of their summary here is 100%…
GO >Multifamily Crash in 2024? Probably Not.
Source – BiggerPockets: Multifamily Is at High Risk of Continuing Its Historic Crash in 2024—Here’s Why I do appreciate that the topic of this guy’s article last year was the same as it is this year, tracking the same subject, so to speak, and it’s worth digging into each of these points. And the author,…
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