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February 19, 2016
The NIMBY Narrative
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Hardly an apartment developer has never encountered some degree of opposition to a project from neighborhood groups. Traffic, schools, crime, parking—these top the long list of community concerns.

But at what point does genuine concern transform into anti-development local obstructionism? And what makes some communities more susceptible to such Not in My Backyard (NIMBY) influence than others?

CityLab draws attention to the complicated nature of NIMBYism, spotlighting the new blog, Club NIMBY, by Austin-based, land-use regulations lawyer Chris Bradford. Bradford traces NIMBY growth to zoning policies that effectively capitalize the value of neighborhood amenities into home prices. He also serves up a few policy fixes to further fuel the discussion.

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Top News

RESEARCH

Apartment Returns Exceeded Historical Averages

Analysis included in this week’s Market Trends showed strong property market fundamentals pushed apartment returns to 12.0 percent, the highest in four years and well above the 20-year average.

POLICY

What’s in the President’s Budget for Multifamily

President Obama released his final budget proposal for FY 2017, laying out the Administration’s priorities in the coming year. While the budget is unlikely to be enacted in its entirety, some individual provisions may make their way into other legislation proposals. Here’s what matters for multifamily. 

OPTECH

How Tech Can Fix the Package Delivery Problem

Multifamily housing leaders look to automated and digitally-enabled package systems to help their communities manage the hundreds of daily packages they receive during peak periods throughout the year. 

FINANCE

Wall Street Girds for Real Estate Debt It Must Invest In

A provision of the 2010 Dodd-Frank law that takes effect in December forces banks to keep a stake in the commercial-property loans they package into securities and sell off to investors.

AFFORDABILITY

New Supply, Regardless of Price Point, Improves Affordability

New research from California shows that neighborhoods with more new housing construction witnessed about half the displacement of similar neighborhoods that haven’t added much new housing.

In Case You Missed It
A hand-selected collection of noteworthy articles on a wide variety of issues of interest to apartment executives.
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NMHC’s Rick Haughey on Navigating the Empowered Consumer

Renters Eye Suburbs; Investors Follow Them (registration required)

The Rise of Renting in the U.S.

Multifamily Is Awash in Capital

Apartment Rents Expected to Continue Rising in 2016

Companies Where More Women Lead Are More Profitable, New Report Says

Freddie Mac Reveals Cautiously Optimistic 2016 Outlook for Multifamily

More Than 20% of Young Adults Still Live With Parents

Crescent Communities to Launch Home-Building Business

18-Hour Cities Reinforce Their Hold on Investors’ and Developers’ Attention
Multifamily Market Dashboard

Student Housing Leasing Velocity Outpaces Previous Years

According to Axiometrics, the student housing sector continued its forward momentum in the early part of the leasing season. In fact, the Fall 2016 season is on track to shatter last year’s record. Purpose-built, privately owned beds were 36.6 percent leased as of January 2016, some 443 basis points (bps) ahead of one year earlier. 


Upcoming Meetings

2016 NMHC Research Forum

April 6-7, 2016 The Omni Hotel Chicago, IL

2016 NMHC Spring Board of Directors Meeting    

May 18-20, 2016 Four Seasons Hotel Chicago, IL

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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