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March 17, 2017
Hill Talks Focus on Tax Reform
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Key NMHC members and officers braved a snow storm and bitter temperatures in Washington, D.C., this week for a series of important meetings with policymakers.

Robert DeWitt, Sue Ansel, David Schwartz, Ken Valach, Jim Schloemer, Alan Pollack and Tom Moran met with HUD Secretary Ben Carson, as well as House Majority Leader Kevin McCarthy (R-Calif.), Senator Ron Wyden (D-Ore.) and Representative Kevin Brady (R-Texas) to discuss the importance of tax reform.

For the first time in 30 years, comprehensive tax reform is a real possibility. An overhaul of the tax code is hugely significant to the multifamily industry, presenting opportunities as well as serious risks.

To further stress this point, NMHC Doug Bibby wrote an op-ed for The Hill that outlined the industry’s key priorities when it comes to tax reform. DeWitt and Schwarz further spread the message with interviews with CNBC. 

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Top News

POLICY

Trump Budget Targets $6 Billion in HUD Cutbacks

The Trump administration’s proposed budget looks to reduce HUD funding by more than 13 percent, cutting more than $6 billion and eliminating community development grants. The administration also seeks deep cuts to the EPA, getting rid of dozens of programs like Energy Star and WaterSense

TECHNOLOGY

San Francisco Wiring Access Law Comes Under Fire

The Multifamily Broadband Council has asked the FCC to overturn a San Francisco ordinance that intends to provide apartment dwellers with more Internet options by forcing multifamily companies to give all Internet providers access to the wiring in their buildings. 

TAX

Low-Income Housing Financing Takes Hit from Tax Cut Promise

Pledges to cut the corporate tax rate are reducing investor demand for low-income housing tax credits and negatively affecting pricing, leaving developers scrambling to fill unexpected funding gaps.

TRENDS

Ride Sharing Reshapes Parking Needs

Parking is still a hot amenity—Google Maps' new parking feature underscores the demand for spaces in urban cores, but on-demand car- and ride-sharing are challenging the need to have a car (and parking space). 

MARKET

In the Lap of Luxury

NMHC’s Chief Economist Mark Obrinsky examines whether there is enough demand for the amount of high-end apartments being built. The question appears to be less about whether upscale renters can afford the rents and more about whether they see enough value to choose to pay the higher rents. 

TRENDS

The Seduction of Wellness Real Estate

While the science is still a little squishy, health and architecture are beginning to come together in promising ways. Plus, a new bill in Hawaii looks to allow physicians to write prescriptions for housing as a “cure” for homelessness.

FINANCE

EB-5's Fighting Chance

The federal program is at a crossroads again. But Washington insiders believe President Trump’s focus on job creation could bode well for the controversial program. 

MEETINGS

Meet Us in New York (May 16-18) for the Spring Board Meeting

Don’t miss this exclusive event that brings together senior apartment executives from the industry’s leading firms. Open to NMHC Executive Committee and Board members, this meeting provides an invaluable opportunity to candidly share information and insight on issues of common interest.
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

Young Adults and Apartment Demand

Many housing and multifamily observers cite the millennial generation as a main contributor to the healthy state of the apartment industry today. But the sheer size of the millennial generation can also muddle its real effects on the housing market. 

To better gauge the significance of some of these shifts, NMHC’s research team examined some of the factors commonly believed to be driving the millennial generation’s preference for renting through an alternative lens: their age bracket. This focus on the 18- to 34-years-old age cohort over time revealed some important trends not only related to the millennial generation but young adults in general.

For example, while the rentership rates for young adults have been increasing over the past decade, the share of younger young adult apartment householders has declined. Put another way, the youngest millennials are making up a smaller share of apartment households than previous generations at that same age. 


For more data dives like this, join us April 5-6 at the Hilton Dallas/Plano Granite Park in Plano, Texas, for the 2017 NMHC Research Forum.

Upcoming Meetings
2017 NMHC Research Forum
April 5-6, 2017 at the Hilton Dallas/Plano Granite Park in Plano, TX

2017 NMHC Spring Board of Directors Meeting
May 16-18, 2017 at the Conrad New York, NY
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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