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July 21, 2017
YIMBYism Gains Momentum
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“It’s like Woodstock for housing activists.” That’s how NYT writer Mike McPhate describes the kick-off to YIMBYtown 2017, the three-day conference that brought together roughly 200 pro-housing activists in Oakland, Calif., last weekend.

The conference is another sign of momentum for the YIMBY—yes in my backyard—movement, a counterculture response to the growth in restrictive land-use policies associated with NIMBYism (not in my back yard). YIMBYs argue that anti-development policies are at the root of rising housing costs in many areas, especially California. 

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Top News

DEMOGRAPHICS

There Are More Renters Than at Any Time Since 1965

A new report from Pew Research Center shows that more people are renting today than at any point in the past 50 years. In 2016 alone, renter households grew nearly 10 percent to 43.3 million. 

RESEARCH

Can We Meet Apartment Demand for the Next 15 Years?

During this replay of a recent event at the Urban Institute, four housing and development experts discuss the takeaways from a new study commissioned by NMHC/NAA that says we will need 4.6 million new apartments by 2030.

OPINION

Bibby Blog: To Meet Future Demand, We Need Partners in Production

Growing production in step with estimated future demand for apartments will be a giant challenge. There will be jurisdictions that will accommodate the needed growth and development and others that won’t. NMHC’s Doug Bibby weighs in on how local, state and federal governments can be our partners in meeting the need.  

INVESTMENT

Multifamily Assets in Smaller Markets Can Deliver Big Yields

Tertiary markets can be fragile. But strong market fundamentals, a lack of competition and better pricing can also result in superior yields. Cap rates for garden apartments in tertiary markets were 1.7 percentage points greater than those in the top six metro areas. 

TRENDS

Renters Without Cars: 16% of Your Rent Pays for Parking You Don't Need

A whole generation of young workers are being priced out of renting in major cities. Parking deserves part of the blame, suggests a recent study. 

DEVELOPMENT

The Quest to Make Vertical Living Family-Friendly

Toronto is providing a test case for how to make downtowns more than just playgrounds for the young and single. They city recently adopted a set of development guidelines that aim to make dense urban districts more family friendly by adjusting unit mix, adding storage, improving laundry areas and incorporating more mixed use.

ADVOCACY

Trade Groups Rally for Private Flood Insurance Legislation

A coalition of housing and financial services trade associations, including NMHC, is calling on Congress to support legislation to redefine the role that private flood insurance policies play in regards to the National Flood Insurance Program (NFIP).

PLANNING

The West Is On Fire. Blame The Housing Crisis

Welcome to wildfire season. With wildfires typically occurring at what’s called the “wildland-urban interface”—where 39 percent of all houses are located—many ecologists are blaming sprawl. Build more places for people to live in cities and the number of fires goes down, they say. 

TECHNOLOGY

How Artificial Intelligence Could Impact Multifamily

While AI may appear to threaten some livelihoods, it ultimately could help improve property management performance. For example, it could free on-site staff to spend more time with applicants and have a better understanding of their needs at the time of the call.
 

Continue the conversation on the future of AI in multifamily at the 2017 OPTECH Conference & Exposition in Las Vegas, October 25-27


In Case You Missed It
A hand-selected collection of noteworthy articles on a wide variety of issues of interest to apartment executives.
Apartment Markets Decline Slightly in the July NMHC Quarterly Survey

Renters Find It Pays To Stay Put

Startups Help Landlords Turn Apartments into Hotel Rooms

Apartment Construction at its Highest Level in 20 Years

The Rise of Aging-in-Place Amenities in Multifamily

Multifamily Apartment Growth Surges in SoCal

Venice Beach Is a Hot Place to Live, So Why Is Its Housing Supply Shrinking?

D.C.’s Latest Twist on Upscale Urban Living: A Dorm for Grown-Ups in a Historic Mansion

New App Helps Millennials Move in with Someone Other than Their Parents

The 10 Worst Multifamily Markets for Investors

Q&A: How to Attack the Affordability Crisis

Building a Lifestyle Brand

Study Shows Affordable Housing Can Lead to Greater Racial, Income Integration
Multifamily Market Dashboard

Land-Use Restrictions' Effect on Economic Growth

Onerous zoning codes and land-use restrictions are estimated to reduce the nation’s GDP by roughly 9 percent, or $1.6 trillion, a year, according to a study released last year. Now the study’s authors have recently provided an update that takes a deeper dive into the so-called “spatial misallocation” of labor and productivity that occurs in the wake of land-use restrictions.

Their model incorporates data from 220 metro areas, finding that these constraints lowered aggregate U.S. growth by more than 50 percent from 1964 to 2009.

However, that drag on economic growth is felt more acutely in some areas than others. Similarly, removing land-use restrictions would yield significantly different results by geography. (See Figure 1.) For example, the model suggests that, in the absence of restrictions, major urban centers like New York and San Francisco would have seen big bumps in employment growth while other markets, especially in the Rust Belt, would have suffered, raising the question of whether the barriers ultimately buoyed those areas.


Upcoming Meetings
2017 NMHC Leadership Forum: The Bottom Line Imperative of Diversity & Inclusion

September 12-14, 2017 at the Fairmont Hotel, Washington, DC

2017 NMHC Fall Board of Directors and Advisory Committee Meeting

September 12-14, 2017 at The Fairmont Hotel, Washington, DC

September 25 - 27, 2017 at the Tampa Marriott Waterside Hotel & Marina, Tampa, FL

2017 NMHC OPTECH Conference & Exposition

October 25-27, 2017 at the Mandalay Bay Resort and Casino, Las Vegas, NV

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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