This week’s selection of news provides an assessment of the multifamily market. It includes information about the strength of the asset class as well as updates on the ongoing coronavirus-related challenges. The first article from Arbor’s Chatter blog, reports on the heightened activity in refinancings and how would-be buyers are remaining renters, supporting the multifamily market. In a Forbes article, Chandan Economics analyzes how tenants have used governmental aid to pay rent and how continued federal assistance remains essential for market stability. The National Multifamily Housing Council (NMHC) offers resources, recommendations, talking points and signage to help property owners and managers communicate with tenants. Freddie Mac provides a mid-year look at its multifamily originations, anticipating that it will continue to provide liquidity to the market. Finally, a National Real Estate Investor opinion piece sets forth reasons why now is the time to aggressively invest in suburban garden-style apartments.
Arbor Chatter – July 30
“Refinances accounted for 73% of apartment loans through June. This was the highest level of first-half refinance activity on record.”
Forbes – July 25
“Not every payment delinquency will result in an eviction, a losing strategy for both tenants and landlords in an environment of weakened apartment demand. In fact, eviction may be the exceptional outcome.”
NMHC – July 29
“During these unprecedented times, it is more important than ever for housing providers and apartment residents to communicate with each other. To facilitate those conversations, NMHC has created several resources and templates.”
Freddie Mac – July 31
“The industry entered the current recession on solid footing and is well-positioned to absorb the impacts of the recession due to substantial growth over the past several years.”
NREI – July 29
“With their exterior access and outdoor common areas, garden-style apartments hold greater appeal for virus-wary renters.