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October 22, 2014

Cord Cutters Redefine Telecom Services

About 400,000 households per year cut the cord from their pay-TV services, such as cable or satellite, in favor of watching on-demand content over the Internet, according to findings by research firm MoffettNathanson.

Cord cutters (and “cord-nevers”) recently got a boost with HBO’s announcement that it will offer a streaming subscription service in 2015. One day later, CBS became the first traditional network to announce that it, too, will offer a streaming subscription service.  Consequently, the continually shifting landscape is forcing many apartment firms to look closely at their current community offerings.

“The line between video and cable is fading,” says Greg McDonald, director of telecommunications for Greystar Real Estate Partners. “[Apartment firms] need to be able to provide enough bandwidth to satisfy the property’s needs, today and later.”

Leading multifamily executives will tackle this topic in more detail at the panel discussion, “Conscious Unbundling: How Cord Cutters are Impacting Apartments,” on Tuesday, Nov. 18 at 4:30 p.m. during the 2014 NHMC OpTech Conference & Exposition. The annual event will be held Nov. 17-19, 2014, at the Hilton Orlando Bonnet Creek Hotel in Orlando, Fla.

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EMERGENCY PREPAREDNESS

Ebola Scare Prompts Apartment Firms to Evaluate Emergency Protocols

As the media coverage around Ebola escalates, NMHC members want to know how to protect their residents and respond in the event of an issue at one of their communities. Unfortunately, because this situation is quickly evolving, there is little apartment-specific guidance available. NMHC remains in contact with authorities and has collected a list of federal resources available online. NMHC also encourages members to review resources for emergency preparedness.

FINANCE

Banks Take Big Bet on Red-Hot Apartments

Banks may not be lending much to single-family home builders or even home buyers, but they are doling out big money to apartment developers. Lenders provided a total of $172.5 billion in new mortgages for apartment buildings in 2013, up 18 percent from 2012, according to a new report from the Mortgage Bankers Association.

MARKETS

Multifamily Benefits from 'Perfect Storm'

Panelists at the Real Share Apartments 2014 event discussed the multifamily market’s strong fundamentals, pointing to low interest rates, good access to capital and growing rental demand as positive factors. NMHC Senior Vice President of Public Affairs and Industry Initiatives Kim Duty also participated in the panel discussion.

DEVELOPMENT TRENDS

Home Is Where the Mall Is

Retail giant Simon Property Group Inc. and local developer Stuart Co. opened the doors to a 232-unit luxury-apartment community built on the site of a former parking lot at the corner of a mall’s property. The project aims to appeal to the millennial generation by remaking aging shopping malls as town centers with homes, parks and offices all in walking distance of shopping and restaurants. (paywall)

MEETINGS

Make the Fourth Annual Walk for Our Troops Part of Your Annual Meeting Experience

Tradition continues in 2015 with the Fourth Annual Walk for Our Troops at the upcoming 2015 NMHC Annual Meeting at the La Quinta Resort & Club in Palm Springs, Calif. Join NMHC for the fundraising 3K walk/5K run on Thursday, Jan. 22 from 6:30am–7:15am. The event  benefits the Semper Fi Fund, a 501 (c)(3) nonprofit that provides financial assistance and lifetime support for wounded, critically ill and injured members of the U.S. Armed Forces and their families.

In Case You Missed It
A hand-selected collection of noteworthy articles on a wide variety of issues of interest to apartment executives.
Renters by Choice Fuel the Multifamily Marketplace

Renting the Empty Nest

Private Market Multifamily Financing Activity Steps Up in First Half of 2014

How Online Shopping Is Transforming the Apartment Industry

ULI/E&Y October Real Estate Forecast Shows Continued Improvement in Commercial Real Estate Fundamentals

Single Americans Will Change the Face of Housing

Architects Dish on Designing Rentals for Baby Boomers

Los Angeles: Rent Crisis Capital of the U.S.

Universities Invest in Luxury Dorms to Attract Students, Keep More Living on Campus

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NEXT MONTH

2014 NMHC NMHC Emerging Leaders Speaker Series- Atlanta
November 12, 2014
Whiskey Blue in Atlanta, GA

2014 NMHC Optech Conference & Exposition
November 17 - 19, 2014
Hilton Orlando Bonnet Creek in Orlando, FL

2014 NMHC Human Resources Forum
November 19, 2014
Hilton Orlando Bonnet Creek in Orlando, FL

2014 NMHC Risk Management Forum
November 19, 2014
Hilton Orlando Bonnet Creek in Orlando, FL

Multifamily Market Dashboard

Doubled Up for Dollars

New research from Zillow digs into the doubling-up trend, where at least two working-age, unmarried or un-partnered adults live together. (Roommates, if you will.) Currently, almost a third (32 percent) of working-age adults (aged 23 to 65) live in a doubled-up household, which is up from 25 percent in 2000.

Zillow’s analysis suggests that rental housing costs may be a significant factor in the higher doubling-up rates. Looking also at rent as a share of income, Zillow found a strong relationship between rental affordability and percentage of doubled-up households. The takeaway: Doubling up may be as much about rising rents as personal preference.

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