Vol. 48, May 1, 2024
MULTI-HOUSING NEWS
Top NYC Multifamily Building Sales—March 2024
The metro’s top deals for the sector, rounded up by PropertyShark.
YAHOO! FINANCE
Buyouts Of Delinquent Commercial Real Estate CLO Loans Jump 210% As Multifamily Landlords Struggle
As delinquencies on multifamily mortgages pile up, lenders who had bundled those borrowings into securitizations known as commercial real estate collateralized loan obligations are racing to stave off trouble.
GLOBEST
Multifamily’s Tough Times Will Be A Boon For Bargain Buyers
The problems right now are cyclical, not a foundational change like that of office.
YIELD PRO
Multifamily Property Prices Down Again In March
CoStar?reported that its value-weighted index of multifamily property prices fell 1.0 percent month-over-month in March, the seventh decline in a row. This index was down 11.0 percent year-over-year.
YIELD PRO
Renter Households Are On The Rise
The?Census Bureau?released its quarterly report on home ownership and occupancy for Q1 2024. It stated that the rental housing vacancy rate was 6.6 percent, unchanged?from its level in the last two quarterly reports.
GLOBEST
These Households Are Disproportionately Affected By Rent Costs
It is worst in New Orleans, Buffalo, Cincinnati, Pittsburgh, Cleveland, and Birmingham, Ala.
MULTI-HOUSING NEWS
Navigating High Insurance Costs
NMHC’s Kevin Donnelly and Caitlin Sugrue Walter dive into the current insurance landscape and how multifamily navigating it.
US GLASS
Total Constructions Starts Dip In March
Nonresidential building starts fell 9% in March, contributing to a 1% drop in total construction starts.
GLOBEST
Difference Between SFR And Multifamily Renters
They largely end up in different places with different demographics.
MULTI-HOUSING NEWS
How Sustainable Design Is Elevating Multifamily Living Spaces
Architects and developers are enhancing resident well-being and paving the way for a greener future in housing.
INMAN
How Multifamily Can Appeal To The Baby Boom Rental Market
Many baby boomers are interested in rental markets close to home, multifamily expert Michael Zaransky writes, especially when they offer features that enhance their lifestyles and options.
GLOBEST
Apartment Starts Plunge In March
The drop gives some insight into when the excess supply might start to taper.
MULTI-HOUSING NEWS
2024 Multifamily CMBS Delinquency Rates
The latest monthly update from Trepp.
FINANCE & COMMERCE
Single Family Housing Starts Up; Multifamily Down In April
Momentum continues to build for single-family housing starts in the Twin Cities as April brought another big jump in local building activity. But the slump for apartment construction continues.
FINANCE & INCOME
Multifamily Market Showing Signs Of Recovering
There are indications that the multifamily market is beginning to recover from a choppy 2023 because of the interest rate plateau, according to a report on the first quarter of 2024 by Michel Commercial Real Estate.
NATIONAL ASSOCIATION OF HOME BUILDERS
How Rising Cost Affect Home Affordability
NAHB recently updated its 2024 priced out?estimates, showing how higher prices and interest rates affect housing affordability.
YIELD PRO
Studying Commercial To Residential Conversions
The Multifamily Economic and Market Commentary for April from?Fannie Mae?focused on the conversion of commercial property to residential uses.
MULTIFAMILY INSIDERS
Empowering Affordable Housing Organizations Through Technology And Operations
Managing affordable housing properties presents a unique set of challenges. Ensuring compliance with complex regulations like NSPIRE, controlling maintenance costs, and effectively managing a network of suppliers across a portfolio of properties can be a constant struggle.
REALPAGE
Multifamily Starts Plunge In March
After jumping in February, multifamily starts dropped to the lowest level.
COMMERCIAL OBSERVER
California Multifamily Construction At 10-Year Low
Demand for housing in California is higher than ever, yet tenants there likely won’t see enough new supply anytime soon.?
GLOBEST
Will 485-x Tac Break Spur More Affordable Housing In NYC
Incentive requires higher construction wages for the largest projects.
GLOBEST
Jamie Dimon Thinks Stagflation Is Possible
What worries him is the national debt-to-GDP ratio.
GLOBEST
Gateway Markets Are Losing Population Despite Immigration Influx
Multifamily seeing resident boosts in California, Texas, and Florida from legal immigration.
MULTIFAMILY DIVE
April 2024 Round Up: New Multifamily Products
Offerings this month range from an AI-powered maintenance management platform to vacuum-insulated window glass.
GLOBEST
Reviving Retail: Shopoffs Vision For Converting Distressed Spaces Into Residential Hubs
GlobeSt.com recently caught up with Bill Shopoff, the founder and CEO of Shopoff Realty Investments based in Irvine, CA, about his approach to tackling the housing shortage through the redevelopment of retail properties.
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