Bill Hughes of Marcus and Millichap Capital. As Interest Rates Rise, Net Lease May Slow Down, National Real Estate Investor, 7/1/13.
“There are just so many new employees moving to the area, and condos and homes are being taken off the market for lease.”
Ashley Hayes of Seattle Rental Group. New apartments in Seattle area don’t halt rise in rents, Seattle Times, 7/1/13.
“The national level annual effective rent growth slowed to 3.2% in the second quarter of 2013. For comparison, annual effective rent growth in the second quarter of 2012 measured 4.0%.”
Press release from MarketWired. National Rent Growth Slows for Eighth Consecutive Quarter, MarketWatch, 7/2/13.
“Given the low permitting levels in 2008 and 2009, the recent outsized increases in top markets put total permitting in the past five years in line with historical averages.”
From the Joint Center for Housing’s State of the Nation’s Housing 2013. Deep Strength for Apartment Fundamentals, National Real Estate Investor, 7/3/13.
“The recovery in the housing market is a threat, and it receives a lot of attention, but I’d place the top two threats as job growth and multifamily supply. Job growth and apartment rent growth have a very strong correlation over time.”
Dave Bragg of Green Street Advisors. Job Growth, Supply Top Concerns in Apartment Sector, Analyst Says, REIT.com, 7/5/13.
“The philosophy is to take the market information that a good operator would use twice a month to adjust rents and use it on a daily basis. The system is able to move rents quicker to where the market is progressing.”
James Flick of Camden Property Trust. Software plays growing role in calculating apartment rents, Tampa Bay Business Journal, 7/5/13.
“For every generation after World War II until now, population flowed from the city to the suburbs. Today, as the book, The End of the Suburbs: Where the American Dream is Moving demonstrates, the tide that long seemed inexorable has begun to reverse.”
Leigh Gallagher, of Fortune Magazine. The end of the suburbs, CNN Money, 7/8/13.
“My friends think I’m crazy. But if it’s something you’re going to live in for the next three years, you don’t mind spending the money. It’s worth it. It’s about lifestyle,” says Daniel de la Vega
Daniel de la Vega, renter. Investing in Expensive Renovations For Rental Apartments, the Wall Street Journal, 7/10/13.
“Showings on Demand solves a major problem in renting – the time it takes to see an apartment. This matters because …the best apartments rent within hours, and wasting time with the back-and-forth of scheduling a showing can make the difference in landing a can’t-miss apartment.”
Joe Charat, CEO of Naked Apartments. Renters Get Immediate Access to Available Apartment Listings, MarketWatch.com, 7/10/13.