We start off this week’s collection of top multifamily news items with a look at the growing demand for Class B apartments as investors begin to realize the shortage of workforce housing. Next, we explore where the workforce is growing with a look at 10 booming cities from CNBC.
Turning to tax reform, Urban Institute examines how the new policy will make renting more attractive than owning a home. Multifamily Executive then walks us through the finer points of the relationship between property tax assessments and acquisition price. This week’s round up closes with a look at some often-overlooked cities experiencing revivals.
CoStar – Jan. 8
“Apartment investors will be hunting for Class B properties this year – not as the value-added proposition they’ve been seen as recently, but as a way to address the shortage of workforce housing.”
CNBC – Jan. 9
“While job creation has actually slowed by 6 percent in 2017, some cities are still experiencing tremendous employment growth.”
Urban Institute – Jan. 9
“The increased standard deduction means fewer taxpayers will itemize. The reduction in tax rates also suggests less of a benefit for those who do itemize.”
Multifamily Executive – Jan. 10
“Many jurisdictions have specific assessment statutes that result in taxable values well below the property’s purchase price or the value indicated under the income approach.”
Bloomberg – Jan. 8
“The current recovery brings a chance for places like Fort Wayne, Indiana, and Riverside, California, to reinvent themselves.”