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January 29, 2015

Suburban Opportunities for Apartments Grow

There’s solid demand for apartments in some suburban markets, according to experts like Greg Willett, president of MPF Research, who spoke at last week’s NMHC Strategies Outlook Conference. Apartment investors can find relatively stable, strong properties — at prices far below the cost of properties in core markets.

“We’re actually adding suburban properties much faster than the pace of growth recorded in the nation’s downtown and downtown-adjacent neighborhoods,” said Willett. Eight of the top 10 busiest submarkets for apartment construction in the current cycle are largely suburban submarkets.

Moreover, in 16 out of 20 major metropolitan areas, suburban markets produced better returns than urban markets, according to Jay Parsons, director of research and forecasts for MPF Research.

While growing suburban resistance to new apartment development can make it difficult to build new properties, it can also protect existing apartment properties from competition.

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FINANCE

Unprecedented Flow of Foreign Capital Headed to Apartments

Even more cash from overseas will pour into U.S. real estate in 2015. Last year was already a big year for foreign investment. A slowing world economy, new trouble in Europe and potential changes in U.S. taxes are likely to boost foreign investment even higher. Foreign investors also now have a better understanding of the U.S. apartment business – and view it as a safe haven from volatility in the rest of the world.

MEETINGS

A Record Number of Industry Executives Attend NMHC’s January Meetings

Whether it was to dig into changing market dynamics, network for the next deal or be inspired by business leaders of all stripes, industry executives came to Palm Springs, Calif., en masse last week for NMHC’s January meetings. Hot topics included top regional markets, the demographics of development and addressing workforce housing needs. Click to catch up on the happenings from both the Apartment Strategies Outlook Conference and the Annual Meeting.

TRANSACTIONS

2014 Apartment Property Sales Top 2007

Another giant year for buying and selling apartment properties, according to Real Capital Analytics.

AFFORDABLE HOUSING

LIHTCs and Fair Housing at the Supreme Court

Was the allocation of low-income housing tax credit (LIHTCs) discriminatory in Texas? On January 21, the U.S. Supreme Court began oral arguments in Texas Department of Housing v. Inclusive Communities Project, a  case that may decide the fate of disparate impact liability under the Fair Housing Act.

HOUSING POLICY

Why Obama Ignored Housing in the State of the Union

The U.S. housing market is neither as weak as is was in the crash, or as seemingly strong as it was in the boom. That’s why the President had little to say about housing in his State of the Union. Plus there’s the reform of the government-sponsored entities, Fannie Mae and Freddie Mac, which seems unlikely to be completed soon. Click to read NMHC’s response to the President’s speech.

In Case You Missed It
A hand-selected collection of noteworthy articles on a wide variety of issues of interest to apartment executives.
Cheap Oil Bad for Texas Economy, Rental Markets

Six Major Design Trends Shaping City Life in 2015

Boomers and Millennials at the Same Properties

Regional Rental Markets to Watch

Former Time Warner Chairman Dick Parsons on New Neutrality and Cord Cutting

Street Names Affect Home Prices (They probably also affect rents)

Unexpected Places with Easy Commutes: Movoto Real Estate Blog’s list of top zip codes

NAHB: Multifamily Housing to Stay Strong in 2015

Independent Living Leads the Seniors Housing Sector

REIT Returns Double S&P 500

New Construction: Friend or Foe in 2015?

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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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April 1-2, 2015
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Immigrants Accounted for One Third of Household Growth Over 20 Years

Immigration reform could be a big boost for housing. “Immigrants have historically been an important part of housing markets, especially for the past two decades,” said George Masnick, senior research fellow for the Joint Center for Housing Studies at Harvard University.

People born in foreign countries accounted for nearly all the growth in hoiuseholds under the age of 45 over the last 20 years, according to Masnick. Immigrants also boosted the number of housing over the age of 45 by about the same amount, though the aging of the Baby Boom overshadowed the contribution of these immigrants to the growing number of older households.



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