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December 7, 2016
Construction Lending Pulls Back
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In many cities across the country, cranes sprung up along the skyline and city blocks were cleared as apartment developers geared up their production efforts in the wake of the recession. This high level of construction activity foretold a spate of new deliveries that continue to hit the market.

Demand for these new units remains strong. However, shifts in the construction-financing environment, may slow the industry’s progress going forward. Whether these changes will lead to a temporary pause in the flow of deliveries or a fundamental market change remains to be seen. For commercial mortgage brokers serving borrowers in the multifamily sector, the direction of future trends merits close attention.

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Top News


What Ben Carson at HUD Means for Housing

Retired neurosurgeon and former presidential candidate Ben Carson is tapped to lead the nation’s housing department, leaving many industry watchers questioning his credentials and speculating over changing priorities and the fate of a number of key policies. For those still questioning the nomination, Housing Wire offers up this silver lining. Read the NMHC/NAA statement here.


Survey of Top Apartment Firms Now Live, New Syndicators List Added

NMHC 50 survey questionnaires were sent out earlier this week. This year, in addition to list of the top owners, managers, developers and builder/contractors, we are also publishing a top syndicators list. If you have not received the survey or do not know who your firm’s contact is, please contact NMHC’s Director of Research Caitlin Walter at cwalter@nmhc.org. Responses are due January 13.


Innovation, Collaboration and the Sharing Economy Dominate OPTECH

This year’s OPTECH was a one-stop shop for nearly 1,600 apartment executives with more than 50 sessions, 133 speakers and more than 100 exhibitors. Click to catch up the highlights, including profiles of our Launch Pad start-up competition finalists, tips for better compliance, new marketing strategies, advancements in sustainability and more.   

Also check out MHN’s coverage of the event, including a short product showcase from the exhibit hall.


Developers Ditch Parking Spaces to Make Room for Uber

As urban real estate becomes ever-more expensive and harder to come by, some property developers are shrinking or killing their parking spaces and offering ride-sharing subsidies and other incentives instead.


New Analysis Shows Multifamily Is More Energy Efficient than Single Family

In this new paper published in the Journal of Sustainable Real Estate, NMHC researchers examine how energy consumption differs among different residential housing types. The findings challenge previous analyses, arguing that not only do apartments perform more efficiently on a per unit basis but that renters do not inherently use more energy than owners. 


How Looming Tax Reforms Might Affect the CRE Industry

With the possibility of the first substantive tax reform since 1986 on the horizon, NREI offers a solid round-up of the major areas of debate with implications for commercial real estate. Additional apartment-specific information related to tax reform is available here
In Case You Missed It
A hand-selected collection of noteworthy articles on a wide variety of issues of interest to apartment executives.
Jump in Online Shopping Foretells a Record-Breaking Season for Parcel Deliveries

Multifamily Market Dashboard

More Renters Concerned With Rising Utility Costs than Rent Costs

According to a new Freddie Mac report, concerns over rising utility bills outpace those over rising rents. Seventy percent of renters surveyed said they are moderately to greatly concerned about higher utility bills. By contrast, just 63 percent shared the same levels of concern about potential rent increases.

Moreover, nearly half of the renters surveyed (47 percent) said they would be willing to pay more for rentals with cost-saving water and energy features.

The Department of Energy estimates that utility costs can tally up to as much as 10 percent to 15 percent of rent. In an effort to educate renters about the total costs of occupancy (rent + utilities) and demonstrate the value of ENERGY STAR products and properties, the DOE developed two new marketing resources—one infographic for prospective renters and a brochure to help leasing agents at Energy Star-certified properties better communicate the advantages to prospects.  

Upcoming Meetings
2017 NMHC Annual Meeting

January 24 - 26, 2017 at the Manchester Grand Hyatt in San Diego, CA

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.
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