Apartment Industry News
The senior housing market is facing a period of probable change and expansion in the near future as the U.S. population ages. Former Secretary of Housing and Urban Development Henry Cisneros, who recently co-authored a book addressing seniors' housing, recently told Multi-Housing News that several changes in the housing market are likely to manifest. About… Read more >>
The Chicago Housing Authority is revising its goals and methods for its Plan for Transformation for public housing development, 12 years after the city's program went into effect. The CHA's public housing redevelopment efforts have achieved a degree of success in using funding from the U.S. Department of Housing and Urban Development to support partnerships… Read more >>
Renewed health in the residential market is anticipated by The Demand Institute, which in a report stated growth in the rental segment of the housing sector should create substantial home price growth in the years ahead. The institute notes in its report, "The Shifting Nature of U.S. Housing Demand," that high rental demand should pave… Read more >>
Multifamily industry members are likely to see considerable revenues during the remainder of 2012, a report from a commercial real estate services firm notes. According to the Spring 2012 U.S. Multifamily Report by Cassidy Turley, with job creation growing nationwide and more than half of U.S. states finishing 2011 with vacancy rates below 5 percent,… Read more >>
Multifamily and commercial real estate investment trusts (REIT) are finding several paths to profit in the current market, according to recent data and earnings reports. Higher turnover rates during the first quarter were an acceptable price for pushing rents, one REIT told Multifamily Executive. Despite seeing resident turnover grow to 56.4 percent, with 12 percent… Read more >>
Household formation remains slow despite some strides toward recovery in the past year, Census Bureau data indicates. The rate lags behind historical norms, which experts say may be both cause a cause and an effect of the slow economy, according to the Washington Post. High unemployment and other factors discourage Americans from striking out on… Read more >>
Apartment rents in the Denver metro area surged 4.5 percent year-over-year in the first quarter of 2012, the largest increase posted in any quarter for a decade. The figures come from the Apartment Association of Metro Denver and the Colorado Division of Housing, which report average rents jumped from $911 to $952. The last time… Read more >>
One major factor in the difficulties the real estate industry has experienced in recent years is a tendency toward excessive prices, some experts say. These were based, in many cases, on overly generous appraisals. Data on thousands of housing transactions shows that appraisal values and sale prices differed a great deal in many cases, according… Read more >>
The perception of the American Dream is shifting as fewer citizens equate success with homeownership, a change in thought patterns that could favor the apartment industry. Renting allows for a more flexible and efficient lifestyle, according to the Wall Street Journal. With shelter comprising the largest expense for many households and the typical consumer spending… Read more >>
A new law in California will require all multifamily housing communities in the state to include access to on-site recycling, presenting a few alternatives. Failure to comply with basic recycling requirements will potentially result in fines and liens, to be determined and issued locally. California Assembly Member Bob Blumenfield claimed that fewer than 40 percent… Read more >>