In Case You Missed It — Week Ending December 2
Tax reforms and the multifamily market; signs point to a strong apartment development pipeline in 2017; a look at top rent growth markets; and more in this edition of our multifamily news round up.
What Would Tax Reform Mean for Multifamily?
National Multifamily Housing Council – December 1, 2016
“Tax reform is expected to take center stage in the next Congress based on signals from President-elect Donald Trump and congressional Republicans. NMHC/NAA have made tax reform a top priority as well given that changes to the tax code have the potential to seriously impact the apartment industry’s ability to meet the nation’s housing needs.”
Apartment and Condominium Market Posts Positive Gains in the Third Quarter According to NAHB Report
MultifamilyBiz – November 29, 2016
“The Multifamily Production Index (MPI), released by the National Association of Home Builders (NAHB), posted a gain of three points to 53 in the third quarter. The MPI has been at 50 or above since the beginning of 2012.”
Top Markets for Expected Rent Growth in 2017
Multifamily Executive – November 28, 2016
“California once again dominates the list of rent-growth leaders for the coming year, with more than half of the top markets, but it may come as a slight surprise to some.”
Low-Income Housing: Why Not in My Neighborhood?
The New York Times – November 25, 2016
“Trulia looked at 3,083 low-income housing projects completed between 1996 and 2006 in the country’s 20 least-affordable markets to see whether such construction affected the values of neighboring homes. With a few exceptions, the presence of low-income housing seems to have had no impact.”
The ‘Ownership Society’ Came and Went — A Long Time Ago
MarketWatch – November 21, 2016
“St. Louis Federal Reserve economist William Emmons demonstrated that homeownership has been losing ground for decades. What’s more, Emmons showed that higher ownership rates were likely coaxed along by government policies and national priorities appropriate for a certain moment in history and unsustainable beyond that.”