In Case You Missed It: Week of Oct. 10
Hockey arenas give multifamily a boost; the immigrant homeownership rate increases; Zillow forecasts strong rent growth in West Coast Markets; and more in this week’s multifamily news roundup.
CMBS Lending Becomes More Conservative
Trepp – October 13, 2016
“Prices that investors are paying for properties are now more than 100% greater than they were during the market’s trough, and debt and equity capital remain plentiful and at competitive rates. Despite this, lenders – particularly those who rely on securitization for funding – haven’t thrown caution out the window.”
Growth of NHL hockey nationwide boosts apartment markets
MarketWatch – October 13, 2016
“That’s the analysis from RENTCafe and MarketWatch, which looked at more than a dozen NHL-primary arenas in the U.S., and showed that some of the newest arenas, those less than 20 years old, have been the biggest drivers of higher rental prices.”
Immigration Nation: Homeownership and Foreign-Born Residents
Trulia – October 13, 2016
“The homeownership rate for immigrants (foreign-born U.S. residents) is slowly gaining ground against that of domestic-born residents. Separately, states where immigrants have resided in the United States for longer periods of time boast higher rates of immigrant homeownership.”
Manhattan Apartment Rents Decline After 35% Surge in Listings
Bloomberg – October 13, 2016
“Manhattan apartment rents fell last month as landlords’ pricing power was hurt by a wave of new listings and tenants who shopped around for better deals.”
Commercial Real Estate Plays It Safe
Bloomberg Gadfly – October 11, 2016
“U.S. commercial real estate prices have reached new highs, but the sector is a much safer place today than it was before the 2008 financial crisis.”
Zillow Forecasts High Rent Appreciation in West Coast Metros
Multifamily Executive – October 11, 2016
“Zillow’s Rent Forecast for August 2016 to August 2017 predicts rent-appreciation rates far above the national average for many West Coast metro markets, most notably the country’s tech centers.”