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July 27, 2016
Study Shows Support for Renter Tax Credit
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Results from the MacArthur Foundation’s 2016 How Housing Matters Survey show that the American psyche has yet to shake the fallout from the last housing crisis. Eighty-one percent believe that housing affordability is a problem in America today, with six in ten characterizing it as a serious problem—and one that continues to hold the economy back.

To address these challenges, respondents said they supported a variety of policies that local, state and federal governments could use to close the housing affordability gap. Arguably most interesting for the apartment industry is that 70 percent of survey participants said they would support giving renters a federal tax break similar to the mortgage interest deduction.

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Top News

MARKET

Rent Growth Moderation Likely to Prolong Fed's Wait to Hit Inflation Goal

Growth in the number of apartment buildings under construction points to a surge in supply that could moderate the cost of shelter. Any cooling in the most pronounced driver of inflation means the Fed will have to wait even longer to reach its 2 percent price target—a prerequisite for some policymakers to raising interest rates.

POLICY

NMHC's Valach Details Multifamily Challenges at RNC

As part of an effort to put critical multifamily challenges on the national agenda this election season, NMHC Secretary Ken Valach, CEO of Trammell Crow Residential, joined an expert panel last week at the Republican National Convention in Cleveland to detail and pinpoint key barriers for our industry in providing affordable housing.

TRENDS

Why You Should Care About the Pokémon Go Craze

Just after one week of hitting the app store, the augmented reality game Pokémon Go totaled a record whopping 21 million subscribers. Capitalizing on the latest trends can be pivotal to attracting new residents and stimulating their community engagement. Student housing providers are already thinking about throwing a “catch-’em-all” party or even using game lures to literally lure prospects and tenants.

DEMOGRAPHICS

Are Millennials or Baby Boomers Our New Renters?

Today’s political system isn’t the only thing that’s become two-faced. The apartment industry may feel just as bipolar with the renter population growing at opposite ends of the generational spectrum. NMHC’s Rick Haughey digs into Millennial and Boomer preferences. 

RESOURCES

Multifamily and Cybersecurity Webinar Replay Now Available

Cybersecurity is a growing threat to the multifamily industry. Everyone from third-party service providers to residents are susceptible to cyber attacks that could leave apartment firms exposed. NMHC/NAA held a webinar on July 21 to review the findings of a new white paper on cybersecurity and discuss industry best practices to reduce them. 

TECHNOLOGY

Coming to Market: An Apartment in a Box That Morphs at the Press of a Button

Space is a luxury, and apartments don’t seem to be getting bigger (sigh). Ori, a startup born from an MIT Media Lab project, thinks that we don't necessarily need to think bigger, just smarter about what we've got. The solution is robotic furniture that morphs into a bedroom, office and living room all at the press of a single button. 

ZONING

San Francisco Moves to Expand Housing Options

In response to a housing shortage that has sent rents soaring, city officials are expected to pass legislation allowing for property owners to carve new, rentable units out of underutilized space in existing buildings. “When we see a municipality showing some flexibility to get more units that are affordable to people, we’re intrigued,” says NMHC’s Doug Bibby. (paywall)
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

Multifamily Construction Timelines Grow Longer

As construction activity across the country has ramped up, the average amount of time to complete construction of an apartment building, from permit to completion, increased to 14 months in 2015, roughly one month longer than the previous year. However, the data, from the Census Bureau’s Survey of Construction, also showed the timeline varied with the number of units in the building as well as by region, with construction in the Northeast taking the longest.

On a related note, a new Washington Post article also looked at how building permit delays can influence housing elasticity on a metro level, ultimately undermining affordability in expensive cities.


Upcoming Meetings
2016 NMHC Emerging Leaders Speaker Series Newport Beach

 August 3, 2016 Newport Beach, CA

2016 NMHC Student Housing Conference & Exposition

September 28-30, 2016 New Orleans Marriot in New Orleans, LA
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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