Ten Days of Buzz: September 16-26, 2012

Welcome back to Ten Days of Buzz! This week, we’ve got multifamily development trends, decreasing household debt, rents set by algorithms, and more…enjoy.

“There is room for further improvement before apartment and condo production return to normal, sustainable levels.”

NAHB chief economist David Crowe. Multifamily Still Trending High in Development, Dividends, GlobeSt.com, 9/16/12.

“The thing everybody grapples with is, ‘How much (debt) is normal?’ ” Rogoff said. “There will be a long memory of this crisis. It may be the biggest question mark in terms of trying to time this recovery.”

Harvard economist Kenneth Rogoff. Shrinking household debt is good sign for 2013 economy, USA Today Money, 9/17/12.

“We are seeing some of the rental buildings doing airline-type pricing but more often there is nothing available…I would advise renters to check pricing and the day of their (apartment) appointment to make sure it hasn’t changed. Another option would be to look at condo rentals. Pricing is a little more stable in the condo market.”

Maurice Ortiz, marketing director for the Apartment People. Lease rate too high? Check back later, the Chicago Tribune, 9/18/12.

“If Dallas can have a zero-waste plan, any city can. It can really be a huge opportunity to move toward a more sustainable Texas.”

Zac Trahan, Texas Campaign for the Environment. Dallas Looking at Ways to Reduce its Trash, The New York Times, 9/20/12.

“Hurn told consumers that he would provide lists of rental properties that specifically matched their needs and use his supposed expertise to find rental properties for people with eviction or criminal histories; instead, he gave consumers lists of properties that were unavailable, uninhabitable, or unsuitable.”

Jennifer Steele, Washington State Assistant Attorney General. Attorney Generals office shutters rental-referral business, Office of the Attorney General, 9/21/12.

“The NAHB Multifamily Production Index improved for the eighth consecutive quarter with an index of 54, the highest reading since the second quarter of 2005. The MPI, which measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100, rose from 51 in the first quarter to 54 in the second quarter.”

Eye on the Economy: NAHB Survey Points to Growing Optimism, RIS Media, 9/22/12.

“Gabriel Stempinski is the consummate renter. When he and his fiance Shiva Goudarzi decided to move to Portland, Ore., this spring after she got pregnant, Stempinski didn’t even consider purchasing a home; instead they found an upscale three-bedroom townhouse just outside the city center where they could live a ‘nonpermanent lifestyle’ and ‘be world citizens.'”

Roya Wolverson, writer for Time Business. Renter Nation, Time.com, 9/24/12.

“It’s hard to imagine the trend reversing itself. Every time we are a little concerned, we are pleasantly surprised by the rates at which we lease new buildings as soon as they’re open.”

Carl J. Goldberg, managing partner of Roseland Property Co. Multifamily Construction Still Moving at a Solid Clip, NJBiz.com, 9/25/12.

“This deal is the next step toward our goal of offering the broadest array of financing options to our borrowers and the investor community…We’ve settled 31 deals totaling more than $36 billion in collateral since the program’s inception in 2009.” 

Mitch Resnick, VP of Multifamily Capital at Freddie Mac. MBA: Multifamily and commercial originations jump 25% in 2Q, HousingWire, 9/26/12.


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