• Making hay while the sun shines

    • 2013-06-12
    • PEGGY SHAW

    "The economy appears to be on a path of sustainable growth. U.S. businesses have healthy balance sheets and plenty of liquidity-consumer debt has declined to levels not seen since the early 90s," said AvalonBay Communities, Inc., CEO Tim Naughton at the beginning of May.

    In addition, he said, the single-family housing market recovery continue


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  • MHP Reflections

    • 2013-06-12
    • Linda Hoffman, Publisher

    "In just about any situation, you find what you're looking for. If you look for opportunity when you walk in a room, you can spot it. If you're looking for nobody to like you, nobody is going to like you because your body language is going to reflect your thinking. In a world that has become overly obsessed with feelings, I am here today to tell yo


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  • Apartment mortgages late but improving

    • 2013-06-12
    • National Mortgage Professional

    The delinquency rate for mortgage loans on residential properties increased to a seasonally adjusted rate of 7.25 percent in 2013 Q1, an increase of 16 basis points from the previous quarter, but down 15 basis points from a year ago, according to the Mortgage Bankers Association's (MBA) National Delinquency Survey.

    "We remain in a period of s


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  • Big deal in the Big Apple

    • 2013-06-12
    • Kaya Laterman, wsj.com

    The city has taken its first step toward what may be a wave of new development on Halletts Point peninsula, a long-neglected area south of Astoria Park in Queens. Members of Community Board 1 unanimously approved the plan by New Jersey-based Lincoln Equities Group LLC in May, which would allow the developers to build 11 buildings ranging in height


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  • Hitting the brakes

    • 2013-06-12
    • Brad Doremus and Victor Calanog, nuwireinvestor.com

    Hundreds of thousands of units are on the verge of being complete, prices in the housing market are improving and the economy is doing better than it once was, and some believe those factors will act to create a migration from the multifamily sector.

    Vacancy rates continue to drop for now, but analysts warn that the next few quarters could re


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  • Buffet pivots

    • 2013-06-12
    • Margaret Collins & Oshrat Carmiel, bloomberg.com

    The commercial mortgage originator and servicer plans to expand its financing of offices, retail properties and hotels, said Hugh Frater, Berkadia's CEO. The bulk of the Horsham, Penn.-based company's business is currently tied to originating apartment loans backed by Fannie Mae, Freddie Mac and the Federal Housing Administration.

    Berkadia Co


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  • When something's just not right

    • 2013-06-12
    • Don S. Rodgers

    The problem these developers face is another type of shortage; finding qualified manpower. Like many of those in the trades, construction managers and designers entering into the industry lack training and experience to prevent construction defects.

    In the mid 1980s, to meet demand, the Bay Area experienced a boom in multifamily housing. Th


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  • Alliance fires it up

    • 2013-06-12
    • WENDY BROFFMAN

    The company's fee management business is keeping pace with its development growth, closing out 2012 at 58,000 units.

    "Today we are at 68,000 units, so we already have seen an ongoing movement and our target for 2014 is somewhere in the 80,000-unit range. We have a very aggressive business plan to continue to grow the management company, as we


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  • Service and comfort animals-must landlords accommodate?

    • 2013-06-12
    • Josh Kahane, businesslawperiod.com

    A no pet policy prohibits tenants from keeping pets of any kind in their apartments. However, owners and management companies have certain legal obligations to make accommodations to allow certain specific types of animals to reside with a tenant in an apartment, even when those apartments are in communities with no pet policies.

    The law vie


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  • Industry leaders discuss the path to housing recovery

    • 2013-06-13
    • knowledge@wharton.edu

    However, for a sustained recovery, housing supply must increase with both new construction and regulatory reforms that could bring to market homes that are "under water," or those whose market prices are lower than their outstanding loans. Those were the main highlights from a panel discussion on real estate industry trends at the Wharton Economic


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  • A smaller, gentler HUD

    • 2013-06-13

    The changes, which include consolidating multifamily hubs nationwide and closing 16 smaller offices, affect approximately 900 of the Departments' 9,000 employees.

    While implementation will begin this fall, completion of the entire restructuring process is expected to take approximately two-and-a-half-years. Throughout implementation, HUD lead


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  • Consumer credit growth decelerates in March

    • 2013-06-13
    • Brent Nyitray, analyst, marketrealist.com

    The consumer credit reading includes most short and intermediate-term credit extended to individuals. It does not include loans secured by real estate, so mortgages and home equity lines of credit are excluded.

    They break down credit into two categories: revolving (credit cards) and nonrevolving (typically car loans and student loans). While


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  • 7 fun facts about corporate taxes

    • 2013-06-13
    • Justin Fox is of The Myth of the Rational Market.

    On the assumption that, while this story will wax and wane over the coming months, it's not going away, here's some context (for you headline purists, the final two items are admittedly at least as much opinion as fact):

    Corporate profits are taxed twice. When a corporation makes a profit, it's subject to corporate income tax. When it then di


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  • The 11,250 NYC apartments we love to hate

    • 2013-06-13
    • Erin Durkin, New York Daily News

    Many Stuy Town tenants are getting hit with big rent increases in the middle of their leases. Even after years of litigation, shell-shocked tenants will have to pay as much as $1,100 more per month-with as little as two weeks notice.

    "I'm horrified," said Kristen Farver, 38, who was among about 1,290 tenants who had rent increase notices slip


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  • Is infill tapped out?

    • 2013-06-13
    • Amy Wolff Sorter

    The coming-of-age of Echo Boomers, combined with disillusionment with home ownership, caused a good chunk of the population to flee to rentals. Added to the issue was constrained supply from lack of construction. The result was a commercial real estate sector at which investors eagerly threw money and bid against one another for ownership rights.


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  • Involuntary part-time jobs growing

    • 2013-06-13
    • Diane Stafford, The Kansas City Star

    And there are signs the Affordable Care Act-Obamacare-is swelling those ranks as employers prepare to reduce their health insurance coverage responsibility for full time employees.

    When the economic collapse began in late 2007, an estimated 24.7 million Americans worked part time. That number now is 27.5 million, about one-fifth of the labor


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  • Little data makes big data more powerful

    • 2013-06-13
    • Mark Bonchek, Chief Catalyst of Orbit & Co.

    Big Data is what organizations know about people-be they customers, citizens, employees, or voters. Data is aggregated from a large number of sources, assembled into a massive data store, and analyzed for patterns. The results are more accurate predictions, more targeted communications, and more personalized services.

    Big Data is what enables


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  • Natural gas. Natural choice?

    • 2013-06-13
    • N.V., economist.com

    Increasing use of this cheap, clean gas means power stations across the country have reduced their carbon dioxide emissions to levels not seen since 1992-despite serving a population that has grown by almost a quarter since then. On a per capita basis, carbon dioxide emissions from power stations are now at their lowest since President Eisenhower l


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  • Fannie Mae to market $2.2 billion legacy CMBS

    • 2013-06-13
    • Erika Morphy, globest.com

    The holdings are significant-some $2.2 billion-making it not only the largest transfer of risk in a year, but as Deutsche Bank noted in a client note, also the first widely distributed list to include multifamily bonds.

    Fannie Mae is taking this step for a simple reason, Kimberly Johnson, Fannie Mae SVP of multifamily capital markets, says it


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  • How to lead when you're not in charge

    • 2013-06-13
    • Gary Hamel, visiting professor, London Business School

    For all of the books (thousands) written on leadership, individuals (millions) who have participated in leadership seminars and dollars (billions) invested in leadership development, too many leadership experts still fail to distinguish between the practice of leadership and the exercise of bureaucratic power.

    To gain a true leadership advan


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  • Turn-key ROI

    • 2013-06-13
    • Andrew Stephens

    For four decades, Cleveland, Ohio-based MRI Software has been a familiar player in the multifamily property management software arena. Ebbing in and out of ownerships and partnerships, including a few years with publically-traded Intuit, the company has been around the block, gathering process and property management guidance along the way.

    W


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  • Cut from the same fabric

    • 2013-06-13
    • C. J. Hughes, New York Times

    The Loray Mill, which for decades produced fabric for car tires, in April began a $40 million conversion project that will create 190 apartments in its six stories, as well as several floors of shops and restaurants. The mill, which was the site of an famous labor strike in the 1920s, is in the city of Gastonia, a former industrial hub outside of C


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  • The Closer

    • 2013-06-13
    • Washington Examiner

    Imagine the outcry if the nation woke up this morning to headlines reporting that in order to settle a lawsuit against Charles and David Koch, officials with the Environmental Protection Agency had met behind closed doors with them to iron out a deal that effectively allowed the brothers to rewrite regulations as they pleased.

    Imagine, also,


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