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April 27, 2016
Recession Fears Surface
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Billionaire investor Sam Zell rattled commercial real estate investors recently with his prediction that turmoil in the global markets will spin the U.S. economy’s slow but steady recovery around, sending it into a recession in 2017.

But even a kinder, gentler economic slowdown relative to the last recession, as Zell expects, would have significant implications for the commercial property market, including multifamily. With some apartment growth metrics moderating of late, some industry watchers already are wondering whether the apartment market has hit an inflection point.

Find out more about what’s driving Zell’s forecast and subsequent investment strategy on May 19 at the 2016 NMHC Spring Board of Directors Meeting. Zell joins a speaker lineup that includes former Treasury Secretary Henry Paulson, Jr.; tech researcher and writer Vivek Wadhwa; and political analyst and former Obama campaign strategist David Axelrod. 

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Top News

INVESTMENT

Adding Value to Multifamily as Financing Pulls Back

As financing for real estate development tightens, institutional equity investors are becoming more selective in their funding and developers are exploring new market segments such as the over-70 sector, said industry execs at a recent ULI meeting. 

LAND USE

More Cities Turn to Inclusionary Zoning to Address Affordability

As developers rush to build new, market-rate apartments in cities big and small, some local officials consider inclusionary zoning for the first time, while others seek to add teeth to existing programs. However, opponents argue such policies only making housing less affordable.

NMHC 50

The 2016 Game Changers

MFE magazine provides some additional narrative on the biggest movers and shakers on this year’s rankings of top apartment ownersmanagersdevelopers and general contractors. Plus, sister pub AHF releases its rankings of top affordable housing developers and owners.

COMMENTARY

There's Unmet Demand for Larger Rental Units

Former NMHC Chairman Daryl Carter makes the case that the greatest demand for affordable rental housing comes from families, which need and want more space per unit than the industry is building. 

RESOURCES

The Impact of Technology on Payments and Resident Experience

NMHC’s Rick Haughey joins a panel of experts from KeyBank on this webinar to discuss generational preferences for rent payments and the pros and con of the various options. Note: All web browsers do not support the replay. (registration required)

STUDENT HOUSING

Final Reminder: 2016 Income & Expense Survey

Final reminder to participate in NMHC's 2016 Student Housing Income and Expense Benchmarking Survey. Participation is easy and secure as possible through this NMHC web portal. Complete the survey by April 30 to receive an advanced copy of the results for free plus an additional free copy if attending the fall conference.
In Case You Missed It
A hand-selected collection of noteworthy articles on a wide variety of issues of interest to apartment executives.
Multifamily Market Dashboard

Expiring Funding Threatens Existing Affordable Stock

Local governments, community groups and apartment industry stakeholders cannot underestimate the importance of preservation as a critical strategy in addressing the shortfall of affordable housing.

Existing affordable units are typically supported by either a federal housing program or tax subsidy, such as the Low-Income Housing Tax Credit (LIHTC). As such, these properties are required to remain affordable, as defined by HUD, for a designated period of time. And that time is coming to an end for a growing number of units, according to MPF Research analysis.

This year, roughly 518,000 affordable units will expire; by 2025, that number will eclipse 2.6 million affordable units, with more than half coming out of LIHTC. Without a policy solution that will preserve these units as affordable, the inventory of affordable rental housing will decrease, exacerbating current affordability challenges.  


Upcoming Meetings
2016 NMHC Emerging Leaders Speaker Series Chicago

 May 18, 2016 1871 Tech Incubator Chicago, IL

2016 NMHC Spring Board of Directors Meeting

May 18-20, 2016 The Four Seasons in 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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