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February 7, 2018
Rent Controls Needs Retirement
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In response to rising rents, calls for new rent-control legislation are growing across the U.S. Lawmakers and advocates in California, Illinois and Washington are pushing to repeal state laws that forbid rent control or place limits on cities’ ability to regulate rent increases.

Industry leaders, including NMHC, are watching these battles closely. We remain especially concerned about the particularly extreme version of the debate happening in California around the proposed November ballot initiative to repeal the 1995 Costa-Hawkins Rental Housing Act, which restricts rent control measures.

We’ve said it before and we’ll say it again: Rent control is a failure. The downsides of such price caps are well documented and the research leads to the same conclusion that they worsen the affordability crisis in the long term

Bloomberg’s Meghan McArdle hit the nail on the head in writing, “Policymakers should remember that a price is just the intersection of supply and demand. If you alter the price, but don’t alter the supply or the demand, the problem doesn’t go away.”

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TRENDS

The Big Shifts That Will Redefine Multifamily in the Future

Disruption is the name of the game these days and there is no reason to think that our industry is exempt from it. To that end, NMHC recently released the 2018 Consumer Housing Insights Survey, alongside an in-depth trends report, Disruption: How Demographics, Psychographics and Technology are Bringing Multifamily to the Brink of a Design Revolution, and a series of  interactive visualizations of what this means for the apartment of the future.

OPERATIONS

What Can Multifamily Operators Do to Help Fight the Flu?

This flu season has been a doozy. This week’s CDC report again showed increased flu-related illness, hospitalizations and, sadly, deaths. And we’re only about halfway through it. Why is this year so bad and what can you do at your business and multifamily properties to defend against its spread? 

INVESTMENT

Where Are Multifamily Developers Going Next?

It’s getting harder and harder for multifamily developers to find deals that will pencil. But here’s a look at five markets where dev deals are still getting done.  

MARKETS

Where Renters Now Outnumber Homeowners

Recent RentCafé analysis of Census data from 2006-2016 shows significant growth in the renter ranks in smaller cities like Gilbert, Ariz., Plano, Texas, and St. Petersburg, Fla. In fact, back in 2006, only 20 of the 100 largest cities were renter dominated; by 2016, that number had risen to 42.

TECHNOLOGY

The Effects of Blockchain on Real Estate

The technology that underpins cryptocurrencies like bitcoin also has enormous potential for real estate. With blockchain, critical property information, transactions, title registrations, encumbrances and the like become part of an indelible, digital property record, trackable and accessible online and through mobile apps.  

MEETINGS

Recap of the 2018 NMHC Strategies Conference and Annual Meeting

The who’s who of multifamily recently gathered in Orlando for the back-to-back 2018 NMHC Apartment Strategies and NMHC Annual Meeting events. Deal-making and networking were top of mind but so, too, was getting a handle on how the best in the business are looking to navigate the year ahead. Check out what everyone was talking about. 

AFFORDABILITY

Where Amazon HQ2 Could Worsen Housing Affordability

Some of the cities dubbed finalists in Amazon’s newest headquarters search are likely to see a greater strain on their housing market, a new Brookings Institution analysis finds.

AMENITIES

Renters Love the Gym—but Only in Theory

Eighty-two percent of renters survey respondents say an on-site fitness center is important in apartment buildings, but 42 percent note they rarely or never use those facilities. (paywall) 
In Case You Missed It
A hand-selected collection of noteworthy articles on a wide variety of issues of interest to apartment executives.
NMHC: Developers Already Planning the Apartments of the Future

Alexa, How Is Smart Home Technology Changing the Real Estate Industry?

Say Goodbye to Garages as Developers Imagine a Driverless Future (paywall)

Downsizing Baby Boomers Face a Key Decision: Is It Better to Rent or to Buy?

Tax Law Erodes Historic-Building Credit, Threatening Some Projects (paywall)

SoftBank Leads $865 Million Investment in Startup Katerra

Best and Worst Cities for Renters

The Case for More Rental Housing Assistance

New Survey of Mayors Shows Most are Concerned about Lack of Affordable Housing

What Land-Use Regulations and Fertility Rates Tell Us About Our Cities

New Smart Home Tech Trends from CES 2018

Thousands of Texans Still in Temporary Housing

The Dishwasher Gets a Redesign for Tiny Apartments
Multifamily Market Dashboard

Green Financing Outlook

Fannie Mae and Freddie Mac’s regulator recently downwardly adjusted the two organizations’ lending caps to $35 billion a piece from $36.5 billion, reflecting some changes in lending priorities.

Excluded from the 2018 caps are affordable housing and green loans, although there were changes made to some of the qualifications. For example, multifamily loans that finance energy or water efficiency improvements must provide a 25 percent energy or water savings, which is a higher performance threshold.

To get a gauge on how these changes might affect green lending, NMHC included a special question on the topic in its most recent Quarterly Survey of Market Conditions


Upcoming Meetings
Keep an eye on our Meeting Calendar for the latest registration details.
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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