Tag Archives: Apartment Market

Demand is Outstripping Supply in Multifamily Housing

Let’s go with the bottom line first: Supply is not keeping up with demand for housing in almost all parts of the country. In the 12 months ending May 2014, the U.S. issued building permits (both single and multifamily) for 940,031 total dwelling units. These consisted of 566,983 singe family units, 23,924 dwelling units in …Read more

Residential Apartment Rents Up 14.7 Percent Since 1990 – Yet Income Flat in Past 15 Years, Inflation Adjusted

The resurging housing market is making an imprint on many people’s pocket books, checking accounts and balance sheets. For homeowners today, that is a positive imprint and for renters, a negative one. The median existing home price was $96,400 in 1990 according to the National Association of Realtors® while the latest 12-month average of median …Read more

Portland, Oregon — An Award Winning Rose of an Economy

This week I had the opportunity to speak to the Oregon Mortgage Bankers Association in Portland, Oregon. It was a fun trip to catch up with colleagues, friends, customers and for the first time, see a new granddaughter as my daughter, son-in-law and children live there. The Portland-Vancouver-Hillsboro Metropolitan Statistical Area (MSA) created 28,900 net …Read more

Commercial Real Estate Cycles for Q1 2014

Just released are the Q1 2014 results of Dr. Glenn Mueller’s Commercial Real Estate Cycles. Dr. Mueller is a professor for the Burns School of Real Estate and Construction Management at Denver University. He is also the real estate investment strategist at Dividend Capital Group, where he provides real estate market-cycle research and investment strategy …Read more

Residential Building Permits — Single Family is Flat But Multifamily is Growing, Systematically Under Building

As housing continues to recover, the laggard in the sector is new housing sales. New home sales were essentially flat in the first quarter of this year when to the same period of 2013 – 107,000 in 2014 versus 109,000 in 2013 http://blog.stewart.com/stewart/2014/04/25/new-home-sales-misleading-metrics-downturn-not-as-severe-as-thought-year-over-year-q1-sales-almost-identical/ The same is true for single family residential building permits. Single family …Read more

Another Top-10 List — Largest Multifamily Lenders in 2013

Real estate works well as an investment given the leverage benefits on owner returns that lending can offer (as long as it is positive leverage). The average total property return on apartments reported by the National Council of Real Estate Investment Fiduciaries (NCREIF) in 2013 was 8.78 percent. The typical 2013 multifamily loan interest rate …Read more

Are You Using Twitter?

Since January 2, 2014, I have been Tweeting under the DrTCJ account. To view my homepage click: https://twitter.com/DrTCJ While many of you do not have Twitter accounts, or perhaps you do not follow me, please take a look at the Tweets from the first half of April 2014 in the bullets below. DrTCJ April 2014 …Read more

Another Top-10 List — Apartment Boomtowns

One of my megatrends this and last year in real estate is the continued strong growth in residential rental markets compared to owner-occupied housing. There is going to be at least a decade of people that will be renters, which just a few years ago, would have been homeowners. Consider the trifecta of impacts on …Read more

Commercial Real Estate Cycles for Q4 2013 — 50 MSAs

Real estate follows repetitive cycles. A noted specialist in the field of commercial real estate cycles is Dividend Capital’s Dr. Glenn Mueller. Each quarter Dr. Mueller analyzes apartments, hotels, industrial, office and retail properties in more than 50 Metropolitan Statistical Areas (MSAs) across the U.S. He defines four distinct phases. First is Recovery (declining vacancy, …Read more