“When the U.S. housing bubble burst more than a decade ago, it brought the global economy to its knees. It turned out that the multiyear housing boom through the early 2000s was hiding skeletons. Homebuyers, driven by a fear of missing out on home price gains, were stretching themselves well beyond their financial means. And […]
“The US multifamily sector saw average asking rents rise by $15 in April to hit an all-time high of $1,659, leading analysts at Yardi Matrix to say the asset class is in a “can’t stop, won’t stop” phase of historic growth. The firm’s latest multifamily data shows that year-over-year rent growth moderated by 50 basis […]
“Cambridge, MA– Urban Spaces, a Cambridge-based commercial real estate development company, recently completed construction of Flats on First, a mixed-use multi-family complex comprised of 136 residential units, 15,800 square feet of ground floor retail, and a two-level 142-space underground parking garage. Upon completion, the property was sold for $103 million to an affiliate of Barings, […]
“The country’s booming housing demand is impacting the single-family and multifamily markets and their investors like never before. In such a highly competitive environment, multifamily investors are turning to new markets, investment strategies, and financing solutions to meet return requirements. Geri Borger Urgo, head of production at NewPoint Real Estate Capital, shares her perspectives on […]
“New data from Cortland Chief Economist Brad Dillman suggests rents have already peaked for 2022, predicting prices in 700 U.S. markets will slow down through the rest of this year and into 2023, settling into an annual increase that will average only slightly higher than previous years. In an interview with Multifamily Dive, Dillman said […]
“Six months after Boston enacted a sweeping new law that will require building owners to drastically reduce their carbon emissions levels in the coming years, the commercial real estate industry is still struggling to wrap its head around the regulations. The BERDO 2.0 law — an update to the city’s Buildings Emissions Reduction and Disclosure […]
“Unprecedented rent growth since the start of 2021 and historic levels of liquidity in the capital markets have pushed valuations in the multifamily market to dizzying — and to some, worrying — heights. As both retail and office suffered the worst of the pandemic, investors of all stripes flooded into multifamily. The resultant increase in […]
Mortgage rates rose again this week, inching closer to 5%. The 30-year fixed-rate mortgage averaged 4.72% in the week ending April 7, up from 4.67% the week before, according to Freddie Mac. That’s the highest since December 2018. Rates have jumped this year at a pace not seen in decades.“Mortgage rates have increased 1.5% points […]
Multifamily rent growth continues to buck the seasonal norms, with the average U.S. asking rent increasing $10 in February to a record-high $1,628, reported Yardi Matrix. Year-over-year rent growth increased 15.4% last month, a new peak and up a full percentage point from January. Of the top 30 metros tracked by Yardi Matrix, 90% saw […]
Plan to buy a house in 2022? The good news is that conditions won’t rapidly get out of control the way they did last year. The bad news is that supply remains tight and prices are still on an upswing — and the likelihood of higher mortgage rates looms on the horizon. Real estate pros […]
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