General 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 >>
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 >>
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 >>
Senior associate director for housing and regulatory policy Meg Burns of the Federal Housing Finance Agency recently testified before lawmakers to clarify the purpose and intent of the REO-to-Rental Initiative. Currently in pilot stages, this program is intended to facilitate the bulk sale of properties held by Fannie Mae to private investors for conversion into… Read more >>
With the apartment vacancy rate down more than 2 percentage points from its 2009 peak to 8.8 percent in the first quarter, industry experts say the sector's momentum should carry it forward strongly for the immediate future. The number of occupied apartments surged 8 percent higher during the beginning of this year, according to Calvin… Read more >>
The multifamily industry may see more competition from investors holding single-family rentals as more distressed properties are rehabilitated and prepared for tenants. About 16.1 percent of multiple listing service entries are rentals, according to Real Estate Economy Watch, more than twice the proportion in 2006. The single-family rental business is worth about $3 trillion and… Read more >>