This week’s news covers how multifamily continues to demonstrate value as a solid investment, heading into autumn. On Bloomberg’s Odd Lots podcast, I engage in a deep-dive conversation with co-hosts Joe Weisenthal and Tracy Alloway about the state of multifamily and its future, in light of COVID-19. Next, Adam Kaufman, the co-founder and COO of ArborCrowd, shares his thoughts with Multifamily Executive on what’s critical to understanding investments in today’s rental housing market. Freddie Mac reports low income renters are facing a severe shortage of affordable housing. GlobeSt points out that the demand for multifamily is still on the rise. Rental units accounted for 96% of multifamily construction starts during the second quarter. Finally, RealPage provides data for second quarter apartment absorption rates, showing Dallas and Washington, D.C. leading the nation in demand.
The CEO of a $1.4 Billion REIT Explains Housing (Podcast)
Bloomberg – August 21
“We speak with Ivan Kaufman, the CEO of Arbor Realty Trust, a $1.4 billion player in the real estate finance market, about what’s going on, and how the industry has weathered the storm.”
ArborCrowd Executive Urges Investors to Proceed With Caution
Multifamily Executive – August 20
“The good thing right now is multifamily occupancy is pretty high, and there’s not a lot of forbearance. As long as people can pay their rent, they’re not looking to leave their homes.”
Freddie Mac: New Research Shows Affordable Housing Shortage Persists
Freddie Mac – August 26
“Every year since 2010, fewer than 10% of all rental units are affordable to households making 50% or less of MRI. That’s more than four times lower than when using the most common income measure: median family income.”
Rental Apartments Starts Gobbling More Market Share From Condos
GlobeSt – August 28
“Pricing of multifamily has not so far been affected much by COVID-19, according to brokers at James Capital Advisors.”
D.C. Among Nation’s Leaders for Apartment Demand in 2Q
RealPage – August 25
“While below the market’s normal pace, Washington, D.C.’s 2nd quarter 2020 performance is one of the best seen nationwide. Only Dallas performed better.”
