Video: Special Report Fall 2023 Key Takeaways

In this video, Dr. Sam Chandan, Founding Director of the C.H. Chen Institute for Global Real Estate Finance at the NYU Stern School of Business and non-executive chairman of Chandan Economics, details the key takeaways of Arbor’s Special Report Fall 2023, which he co-authored with Ivan Kaufman, Chairman and CEO of Arbor Realty Trust.


FHFA Loan Caps for 2024: What Multifamily Borrowers Need to Know

The Federal Housing Finance Agency (FHFA) announced a $10 billion rollback of Fannie Mae and Freddie Mac’s volume cap for loan purchases for 2023 to $140 billion ($70 billion for each agency). This move aligns with industry expectations, given the anticipation of continued headwinds for the multifamily in 2024. Next year’s cap for the Government-Sponsored Entities (GSEs) is a reduction of approximately 7% from the $150 billion limit set for 2023 and a return to the level it was in 2021.

Current Reports

Affordable Housing Trends Report Fall 2023

With the cost of living climbing, the need for affordable housing has become more urgent. Although demand continues to outpace available supply, multifamily investment in affordable housing is fortified by Low-Income Housing Tax Credits (LIHTC), Project-Based Section 8, and the Housing Choice Voucher (HCV) programs. Arbor’s Affordable Housing Trends Report Fall 2023, developed in partnership with Chandan Economics, examines the supply-driven programs and policies designed to improve supply at a point in time when federal gridlock has stalled many funding increases.

Current Reports

Small Multifamily Investment Trends Report Q4 2023

Arbor’s Small Multifamily Investment Trends Report Q4 2023, developed in partnership with Chandan Economics, is a snapshot of a strong and resilient subsector continuing to navigate ongoing market dislocation. The report shows that distress has remained limited, even with valuations and measures of risk pricing in flux. As conditions start to stabilize, there are signs that deal activity is picking up.


U.S. Multifamily Market Snapshot — Q3 2023

The U.S. multifamily market held steady during the third quarter of 2023, as high mortgage rates and a lack of inventory in the housing market continued to drive rental demand.


Ivan Kaufman on Bloomberg TV’s “What’d You Miss?”: The Housing Market is Booming

Ivan Kaufman on Bloomberg TV

Arbor Realty Trust’s CEO explains why 2021 will be another phenomenal year for the housing market

Despite pandemic-related concerns, the housing industry had an extraordinary year in 2020. While 2021 may not see as robust price appreciation, low supply and pent-up demand will support another strong year for the housing market, noted Ivan Kaufman, the founder, chairman and CEO of Arbor Realty Trust, Inc. (NYSE:ABR), in an interview on Bloomberg TV’s “What’d You Miss?” with Caroline Hyde, Joe Weisenthal and Romaine Bostick.

Even with the recent rise in interest rates, homeowners and consumers have been benefitting from low interest rates while creating “an enormous amount of wealth, almost $4 trillion of savings for homeowners,” Kaufman noted. “The bump up in interest rates has had a nominal effect but rates are still at historic lows.”

Getting into specific sectors of the housing market, Kaufman noted he’s extremely bullish on multifamily, which has “outperformed almost every other sector consistently and even through dislocations and recessions,” and the single-family market due to the rising homeownership rate and home price appreciation.

He noted, however, that the asset class he’s most excited about is the single-family build-for-rent community sector.

“It’s a new asset class, it’s being done very efficiently with a lot of demand and desire. And I think people have a hybrid between renting in a multifamily unit versus buying in a single-family community and that’s the sector I like the most in this investment cycle,” Kaufman said.

In the interview, Kaufman also shared his insights on the returning to cities. He noted that while there was a fear of a mass exodus, people will begin to return to the urban areas, especially younger people who want to live and work where there’s a lot of action.

He added that New York City is already beginning to see a resurgence.

“Over the last 30 days, you’ve had a rent adjustment in New York City. The number of apartments being rents are at record numbers, albeit at lower rates, but people are renting and renting quickly. There’s huge demand and concessions are disappearing.”

Looking at other commercial real estate sectors, Kaufman noted that the retail sector will face the most challenges, given that it was already going through a reconfiguration pre-COVID. On the other hand, he expects hard-hit sectors like restaurants and hospitality to begin to recover due to people’s pent-up desire to travel and dine out once they are vaccinated and places open up more capacity.

Watch the full interview here.