If you have trouble reading this email, please go to the online version.
November 9, 2016
Housing's Election Battles Go Local
Sponsored by

It was a nail biter of an election night, but Republican candidate Donald Trump clinched the presidency with 276 electoral votes to Hillary Clinton’s 218. Republicans also held on to the majority in the Senate and are set to do the same in the House. While the results are still sinking in, the question of what it all means for housing remains.

Housing was largely absent from any political discussion during the run-up to the election, leaving some to speculate on how housing in general would fare under each candidate. However, in the absence of a national spotlight on housing’s hurdles—namely affordability—the battles went local.

Top ballet decisions in a number of jurisdictions, especially in the West where rent growth has been perennially strong, had to do with affordable housing mandates. Rent control, inclusionary zoning and dedicated financing bonds were on ballots all over California. Voters in San Francisco, for example, had 17 affordable housing measures on the ballot. But similar measures were on the ballots in jurisdictions in Hawaii, North Carolina, and Oregon as well.

While the Republican sweep could potentially open up new debate over regulatory environment, tax and housing finance, the issue of high housing costs is likely to continue to have significant policy ramifications for housing going forward. 

NMHC worked hard over this election cycle to be sure our industry would be well positioned no matter how the results shook out and will continue to work with policymakers on many of these key issues going forward.

SHARE: Twitter Facebook LinkedIn Email
Top News

FINANCE

Problem Loans Create a Drag on CMBS Refinancing

The mountain of CMBS loan maturities hanging over the commercial real estate market has shrunk. But there’s still a heavy load of high-leverage loans searching for refinancing capital at a time with the CMBS market is battling its own liquidity crunch.

POLICY

Crunching the Numbers on a $76B Renter Tax Credit

As the housing affordability crisis worsens, particularly for a growing renter population, higher-income homeowners still get a better deal. A new paper from the Terner Center for Housing Innovation at UC Berkeley considers using the tax code to ease renters’ burden. 

MARKETS

Next Big Bet for Apartment Rentals: Mexico City

Greystar and others plan to build thousands of units, targeting a growing middle class in urban areas. Plus, Greystar’s Bob Faith discusses the company’s other recent overseas move into Asia-Pacific. 

TECHNOLOGY

Why Light Bulbs May Be the Next Hacker Target

Researchers report in a new paper that they have uncovered a flaw in a wireless technology that is often included in smart home devices like lights, switches, locks, thermostats and many of the components of the much-ballyhooed “smart home” of the future.

AFFORDABLE HOUSING

There Are 5.6 Million Cheap Apartments in America. Not for Long

Largely ignored, older housing stock is a major source of naturally-occurring affordable housing. But are value-add opportunities putting this stock at risk? 

OPERATIONS

New Report Outlines Strategies for Unlocking Energy Savings in Multifamily

Recognizing that energy efficiency could save $3.4 billion annually for multifamily owners and managers, a new report from the Institute for Market Transformation explores how government leaders could help stakeholders better analyze building performance data to achieve the savings. 
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

Urban vs. Suburban Parking Preferences

A new analysis of data from the 2015 NMHC/Kingsley Associates Resident Preferences Survey shows suburban versus urban location affects resident preferences on parking and transportation.

Figure 1 shows that resident interest in parking (left axis) wanes while interest in car and bike shares (right axis) climbs in the highest density areas.

However, the trend is even more pronounced in the seriously urbanized areas, or those with at least 10,000 households per square mile (think places like Cambridge, Mass., or Jersey City, N.J.), shown at the far right side of the chart.

Still, interest for parking is much greater overall than that for shared transportation services.


The analysis uses a methodology similar to the one used by Jed Kolko, former chief economist for Trulia, to classify areas as urban, suburban or rural using household density. Results of the Trulia analysis were covered in the article, “How Suburban Are Big American Cities?

Upcoming Meetings
2016 NMHC OPTECH Conference & Exposition

November 14-16, 2016 at the Hilton Anatole, Dallas, TX 

2017 NMHC Apartment Strategies Outlook Conference

January 27, 2017 at the Manchester Grand Hyatt in San Diego, CA
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.
Tools
Print-Friendly Version RSS Search Back Issues
Contact Us
1775 Eye Street, N.W., Suite 1100,
Washington, D.C. 20006
202 974 2300 Office
news@nmhc.org
Connect
Facebook
Twitter
LinkedIn
Manage My Email / Unsubscribe
Please add ‘news@nmhc.org’ to your email address book or Safe Sender List. If you are still having problems receiving our communications, see our White List page for more details.