In Case You Missed It: Week of October 31
Renters flock from costal markets to more affordable metros; construction can’t keep pace with surging jobs in Seattle; solar trends in apartments; how trash is an economic indication; and more in this week’s apartment news roundup.
Freddie Mac Apartment Investment Market Index Shows Multifamily Markets Continue to Grow
MultifamilyBiz – November 3, 2016
“Freddie Mac announced multifamily investing fundamentals grew stronger in the second quarter, both nationally and in all 13 major metro markets tracked by the Freddie Mac Multifamily Apartment Investment Market Index (AIMI).”
Q3 Commercial, Multifamily Mortgage Originations Up 2 Percent Annually in U.S.
World Property Journal – November 3, 2016
“Third quarter 2016 commercial and multifamily mortgage loan originations were 5 percent higher than the third quarter of 2015 and seven percent higher than the second quarter of 2016.”
Influx of foreign dollars continues to power commercial real estate
REJournals.com – November 2, 2016
“The odds are high that investors from overseas purchased these key office towers, retail centers or apartment projects. And the importance of foreign capital to the U.S. commercial real estate market is only increasing.”
More Americans Leave Expensive Metro Areas for Affordable Ones
The Wall Street Journal – November 2, 2016
“Americans are leaving the costliest metro areas for more affordable parts of the country at a faster rate than they are being replaced, according to an analysis of census data, reflecting the impact of housing costs on domestic migration patterns.”
The garbage indicator: What trash is telling us about the economy now
CNBC – November 1, 2016
“It is said that one man’s trash is another man’s treasure. It also happens that all of our trash could collectively make for a great economic indicator.”
Residential building can’t keep pace with Seattle’s surging job market
MarketWatch – October 31, 2016
“Seattle was recently cited as the top U.S. city for construction cranes, with twice as many in action as New York or San Francisco. Viscerally, it feels like a building boom that could outstrip demand. The problem is that, by and large, the city isn’t building housing. Of the 16 new high-rise towers being built in Seattle, just two of them are condominiums.”