Vol. 61, July 31, 2024
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AP NEWS
First Interest Rate Cut In Four Years Likely On The Horizon As The Federal Reserve Meets
With the end of their two-year fight against inflation?in sight, Federal Reserve officials are likely Wednesday to set the stage for the first cut to their key interest rate in four years, a major shift in policy that could eventually lower borrowing costs for U.S. consumers and businesses.
GLOBEST
Is A Wave Of Distressed Deals Every Going To Come
Multifamily distress has tripled, but context matters.
NAHB - EYE ON HOUSING
Downshift For Construction Job Openings
Due to slowing home construction and elevated interest rates, the count of open construction sector jobs shifted lower in June, per the Bureau of Labor Statistics’?Job Openings and Labor Turnover Survey (JOLTS).
NAHB - EYE ON HOUSING
Home Price Gains Moderate For Third Straight Month
Home prices experienced a third year-over-year deceleration in May, according to the?S&P CoreLogic Case-Shiller U.S. National Home Price Index.?
PROPMODO
Skyrocketing Property Insurance Rates Are Leading To Creative Solutions
The high-cost environment in commercial real estate has primarily been driven by the Federal Reserve’s current tightening cycle.
GLOBEST
Multifamily Nears Inflection Point
The apartment sector's fundamentals could tighten more quickly than our current base case if the strong trends continue.
MULTI-HOUSING NEWS
Top 5 NYC Multifamily Buildings Sales June 2024
Property Shark’s list of the biggest deals recorded in the city last month.
GLOBEST
The Renewed Face Of Housing Is Tenant Evictions
After the end of pandemic aid and eviction moratoriums, things are either up to pre-pandemic norms or far over.
YAHOO! FINANCE
What’s Next For Multifamily Real Estate
So far, in 2024, a confluence of factors has challenged the multifamily real estate market.
?YIELDPRO
MSCI Multifamily Property Prices Continue To Fall In June
The latest commercial property price report from?MSCI?Real Capital Analytics said that multifamily property prices fell 0.5 percent from their level of the month before in June.
MULTIFAMILY INSIDERS
Elevating Multifamily Living Hospitality Influence
Validation which includes being seen, heard and taken care of is important for Gen Z, but in my opinion I think that statement really is what every human wants, not just a specific generation.
ZILLOW
Mortgage Rates Fall As Slowing Economy And Fed Rate Cuts Weigh On The Mind Of Investors And Fed Officials
Home shoppers are getting some slight relief as mortgage rates are now comfortably below the 7% mark.They could stay below that threshold if next week’s inflation data continues to move in the right direction.
NAHB - EYE ON HOUSING
US Economic Growth Accelerated In Second Quarter
In the second quarter of 2024, the U.S. economy grew twice as fast as it did in the first quarter, supported by consumer spending and private inventory investment.
YIELDPRO
Building Permits For Apartments Declines Nearly 30 Percent Since Pandemic
Persistently high interest rates are restricting the ability of businesses to borrow money to invest in?real estate construction.
MULTIFAMILY EXECUTIVE
Realtor.com Names Top 10 Markets For Renters
With affordable rental options, economic opportunity, and shorter commutes, Austin, Texas; Oklahoma City; and Birmingham, Alabama, take the top three spots.
GLOBEST
What Will $1,500 Fetch For Apartment Renters?
In large coastal hubs, $1,500 is enough to rent a small studio apartment.
GLOBEST
The Factors Weighing Down Multifamily Rents And Profit Margins
Operating costs and more of a supply and demand imbalance leave landlords with almost zero rent growth.
MULTIFAMILY DIVE
Apartment Sales Volume Finally Turns Positive As AIR-Blackstone Deal Closes
Investment activity jumped 20% in the second quarter after seven consecutive quarters of high double-digit declines, according to MSCI.
MULTI-HOUSING NEWS
2024 Rent Growth
Yardi Matrix’s latest report on this key market indicator.
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