Ten Days of Buzz: November 2-13, 2012

“It is common knowledge that a healthy construction industry is a component of a healthy economy. What is not well-known is the role of affordable housing construction in the industry and the role it has played in keeping people employed and small businesses solvent while the rest of the housing market crashed.”

Rachel Iskow, CEO of Mutual Housing California. Green Construction and Retrofitting Creates More Jobs, EP Online, 11.2.12.

“The U.S. population age 65 and above offers huge potential for housing and other real estate efforts, according to report author John McIlwain, ULI senior resident fellow for housing. …The age group will grow by 120.1 percent between now and 2050, a much greater rate of growth than any other age group.”

Suzann D. Silverman, Commercial Property Executive. ULI Special Report: The New Seniors—Not So Senior Anymore, MultihousingNews.com, 11.3.12.

“The economic data indicates that current rental markets are very strong with low vacancy rates, rising rents and solid demographic trends. What this research demonstrates is that these conditions are likely to remain in place for several years to come.”

David Brickman, senior vice president of Freddie Mac Multifamily. Multifamily Market To Remain Strong Through 2015 With 1.7 Million New Renters, PR Newswire, 11.5.12.

“I’m getting them a town car and rolling around the city with them as if I am their best friend who knows the area. I understand if you like the symphony or if your little boy loves art classes and how to cater to that.”

Wendy Willbanks, founder of She Moves You. The Rental Concierge Springs up in San Francisco, Bloomberg Businessweek, 11.6.12.

 “These transactions would drop their leverage into the mid-50 percent range, still higher than any other apartment REIT.”

Andrew McCulloch, Green Street Advisors Inc. Archstone Sees $1.77 Billion of Asset Sales by 2014, Bloomberg Business Week, 11.7.12.

“The dynamic that began in 2010 remains in place: the increase in prospective apartment residents continues to outpace the pickup in new apartments completed. While development activity has picked up considerably since the trough, financing for both acquisition and construction remains constrained, flowing mainly to the best properties in the top markets.” 

Mark Obrinsky, NMHC Chief Economist. Apartment Dynamics Look Strong for the Next Two Years, CoStarGroup.com, 11.8.12.

 “We’ve been going crazy. Any time a rental comes on the market, within hours it has multiple offers on it, for the obvious reasons. We’re doing everything we can to help these people. We’re all in the same boat down here.”

Ken Parker, Agent with Century 21 in New Jersey. Victims Scramble for Rental Homes, TimesLeader.com, 11.11.12.

“The “bubble” now shows up in 2014, but if economic growth ramps up by then (Moody’s Economy.com is projecting GDP growth of over 4 percent in 2014, up significantly from 2.0 percent in 2012 and 2.9 percent in 2013), the additional supply will most likely be absorbed relatively painlessly.”

Victor Calanog, NREI Contributor. Multifamily Fundamentals Do Not Face a Cliff, National Real Estate Investor, 11.13.12.

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