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October 9, 2014

Essex Data Breach Underscores Threats to Multifamily

Essex Property Trust Inc.’s recent disclosure that its computer networks were hacked in a cybersecurity attack marks the first wide-scale data breach at a major apartment operator.But more than just adding the multifamily REIT to the growing list of companies targeted by cyber attackers—JPMorgan, Target and Home Depot, to name a few—the breach called attention to the vast amounts of highly sensitive, personal data collected and stored at multifamily firms across the country and the risks associated with an increasing reliance on web-based technology to operate their communities.

NMHC urges members to review the number of resources available on our website to help members better navigate the issue.

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FAIR HOUSING

Supreme Court Agrees to Hear Challenge to Disparate Impact in Housing

The U.S. Supreme Court announced that it will hear a case that answers the question of whether a person can be held liable for nonintentional discriminatory acts–otherwise known as “disparate impacts”–under the Fair Housing Act. The Court’s decision will likely have profound effect on owners, investors and residents of multifamily housing properties. More takes on the news from Housing Wire and ProPublica.

RESOURCES

Update to Industry Campaign Website

During initial work to update and expand the data available on www.WeAreApartments.org, the study’s author, Dr. Stephen S. Fuller, Ph.D., of George Mason University’s Center for Regional Analysis, recently discovered flaws in three categories of jobs data in the original data set. We have temporarily removed the inaccurate data and will be posting the corrected data as soon as it is available. We apologize for the inconvenience and look forward to the release of new data for 40 metropolitan areas in March.

STUDENT HOUSING

Top Takeaways from the 2014 NMHC Student Housing Conference & Exposition

With another leasing season behind them, leading student housing execs came together last week in Chicago for a pulse check on the health of the industry. In addition to exploring new products and services, attendees also gained critical insight on pressing topics such as capital and investment shifts, public-private partnerships, new development activity and online marketing trends.

RESIDENT SAFETY

Fears of Ebola Spread Prompt Apartment Firms to Review Best Health Practices

In the wake of the hospitalization and subsequent death of Thomas Eric Duncan from the Ebola virus in Dallas, government and health officials are limiting the spread of the disease, including isolating those with whom he had contact and was sharing an apartment. NMHC encourages concerned members to review the Centers for Disease Control and Prevention’s resources for information on transmission, prevention, communication and more.

In Case You Missed It
A hand-selected collection of noteworthy articles on a wide variety of issues of interest to apartment executives.
DRA Advisors and Bell Partners Sell 64 Apartment Communities to Lone Star

Walker & Dunlop to Acquire Johnson Capital

More Women at the Top, Higher Returns

CalPERS Plans to Increase Its Real Estate Investments

Small Apartments Get Bigger in Seattle

Apartment Operators Drill for Dollars in North Dakota

A Look at Three AMLI Energy Savings Strategies

The Fading Distinction Between City and Suburb

Condo Conversions Return, to Cities and for Investors

Village Green CEO: Ann Arbor Needs More Market Rent Apartments

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About Apartment Wire
A must-read for top apartment industry professionals, Apartment Wire is a timely review of emerging trends in apartment finance, development, management and technology and more, featuring both exclusive content from NMHC's staff of experts and provocative articles from across the web.
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Multifamily Market Dashboard

Population Growth Has Tempered, But Net Growth Continues to Boost Housing Demand

In his latest Research Notes, NMHC Senior Vice President of Research and Chief Economist Mark Obrinsky looks how population trends could affect housing demand. Although the rate of population growth has edged down a bit, the overall increase in population is still quite high, driving housing demand. Moreover, the number of young people in the prime renter age groups has increased as well. Both these trends continue to underpin the favorable outlook for the apartment industry in the coming years.


 

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