Aiming at Wealthy Renters, Developers Build More Luxury Apartments Than They Have in Decades
In some of the largest metropolitan areas, including Los Angeles, the number of new rentals in 2020 will more than double last year’s figures for new supply. Photo: frederic j. brown/Agence France-Presse/Getty Images By Will Parker Will Parker The Wall Street Journal Biography @_willparker_ will.parker@wsj.com Jan. 15, 2020 5:30 am ET Builders are on track…
Read MoreA Tale Of Land Development In Two Texas Cities
From Texas Standard: Texas cities often make it onto those “Best Places to Live” lists. But with that popularity comes population growth, and no two cities handle it the same way. That’s especially true when it comes to Austin and Houston. Mike Morris is a city hall reporter for the Houston Chronicle, and Audrey McGlinchy…
Read MoreStudy finds it's cheaper to rent than to buy in Houston
Mynd Property Management manages single-family rental properties such as this house in the Cypress area northwest of Houston on behalf of investors. NEXT: The most extravagant and luxurious apartment rentals in Houston less Mynd Property Management manages single-family rental properties such as this house in the Cypress area northwest of Houston on behalf of investors….
Read MoreRents for affordable Houston apartments set to rise
Houston rents will begin rising more quickly in 2020, especially for affordable housing stock, according to a forecast from multifamily consulting and research firm ApartmentData.com. The rent growth would follow years of post-Harvey market corrections. Rents spiked after Hurricane Harvey displaced many Houstonians, with the rate of increase slowing as families moved back into their…
Read MoreHow Whole Communities Benefit From Affordable Housing
photo: Getty In the pantheon of misconceptions about affordable housing (and there are many — that it attracts less desirable residents, is inherently built of lesser quality and will drag down a neighborhood), there is the myth that a community with affordable housing couldn’t possibly be good for business. I am here to tell you…
Read MoreDevelopment in Austin Keeps Going Onward and Upward (and Upward)
Featured Illustration: Google will completely occupy the Block 185 tower, one of several skyscrapers changing Austin’s skyline. Image: Pelli Clarke Pelli Architects Posted: 1-3-20 By Edmond Ortiz Austin (Travis County)–The capital of the Lone Star State is in the middle of a construction boom. Austin is No. 2 in the United States for overall office…
Read MoreEconomic Indicators for South Texas Show Steady Growth for 2020
Feature Photo (above): View of the new harbor bridge under construction in Corpus Christi (Spring 2019), as seen from North Beach looking south. Image: Google Streets. Posted: 1-2-2020 by Adolfo Pesquera South Texas can expect steady growth in its largest markets–Greater San Antonio and the Lower Rio Grande Valley–but there are a few problem areas…
Read MoreD-FW apartment leasing slowed to a crawl in fourth quarter
North Texas apartment renters took a holiday during the final months of 2019. Net leasing slowed to a crawl, with only 168 additional apartment units occupied during the fourth quarter. That’s a plunge in rental activity from the more than 16,500 Dallas-Fort Worth apartments leased during the second and third quarters, according to RealPage. Apartment…
Read MoreYes, in My Backyard: The Key to Affordable Housing Is More Housing
Across the United States, we hear we’re facing an affordable housing crisis. Little children, like three-year-old Ethan Wood, are living in tent cities with their parents, some of whom are seeking a fresh start after extensive battles with drug abuse. Then there are others, such as Emilee Broll, who has a full-time job with the…
Read MoreHere's where rent prices surged – and where they didn't – in 2019
As 2019 saw historically low vacancy rates among multifamily housing, it also led to a rising cost of rent, too. According to realtor.com, a report from Abodo said rental prices went up in 38 states, including Washington, D.C., in 2019. In the other 12 states, the cost of rent actually fell, but only slightly. Nationally,…
Read MoreTake this quick quiz and see how much you know about the new Texas property tax law
The most significant state law passed last year is now going into effect. Test your knowledge about the new Texas property tax law here. If you follow The Watchdog, you should score high. Answers at the bottom. 1. The new property tax bill will lower your 2020 tax bill by: a) $1,500 on average, b)…
Read MoreDallas Builds More Apartments Than Any Other U.S. Metro
An industry study says Dallas is at the top of the list of 20 U.S. cities that have built the most apartments over the past ten years. RENTCafe, a website for apartment hunters, says the renter population grew at twice the rate of the homeowner population during that period. Dallas has built 149,000 units in the past…
Read MoreHere's what renters want more of in 2020
Multifamily housing has seen a lot of change and adaptation this decade. The 2020 Apartment Resident Preferences Report released by the National Multifamily Housing Council and Kingsley Associates collected input from renters all across the U.S. The report found many differences in the way we live now. From smart home technology to pet amenities and…
Read MoreHere’s what will happen in multifamily real estate in 2020
tight supply in the moderately-priced apartment market. YardiMatrix recently revealed that 320,000 multifamily units…
Read MoreAustin Is Nation’s 3rd Most Changed City This Decade: Report
of Millennial singles charmed by the quirky sector have prompted a development boom — luxury apartments, upscale…
Read MoreRecovery or Hurtling Toward Relapse? The Decade’s Biggest Real Estate Stories
hurricanes, tornadoes, and flooding have wreaked havoc reflect the pain. Renters are displaced, and homeowners are forced to…
Read MoreMajority of Generation Z Expect to Own a Home by Age 30: Study
In a survey conducted by Apartment List, nearly one in five millennial renters said they expect to rent indefinitely….
Read MoreMillennials want a single-family house, even if it means a long commute
homes over multifamily housing. “While some cities and states like Minneapolis and Oregon are aiming to create more affordable…
Read MoreReport: Austin ranks second in country for multifamily housing permits
the “places” chart means a higher portion of its permits are for multifamily units to be built with in city limits rather than in suburbs—
Read MoreStudy: Younger renters prefer short leases, pet care and tech
Those are the findings of the 2020 Apartment Resident Preferences Report released Tuesday by the National Multifamily Housing Council (NMHC)
Read MoreHarvard University report: Vibrant housing market ahead, provided construction ramps up
by Kerrie Kennedy November 7, 2019 While homeownership in the U.S. is on the rebound – up to 64.4 percent in 2018 – lack of housing inventory across the country is eroding affordability and in turn, holding the market back from making a full recovery, according to a new report out by the Joint Center…
Read MoreAustin Had 5th Fastest Year-To-Year Rent Growth In U.S.
AUSTIN, TX — A new report confirms what beleaguered renters already know: The rent is too darn high. So high, in fact, that Austin ranked 5th in fastest year-over-year rent growth when compared to other major metros. For their November report, Apartment List researchers tracked rent growth, median prices and market trends. The upshot: Rents…
Read MoreHigh Austin Land Prices Pose A Challenge To Habitat For Humanity
A new Harvard University study on the state of the nation’s housing found that rapidly escalating land prices make construction of low-cost housing a challenge for cities. Central Texas has seen a rapid escalation in land prices in recent years, making it difficult for nonprofit organizations to provide affordable housing to low-income families. Phyllis Snodgrass…
Read MoreMultifamily vacancies haven’t been this low since 2000
It’s getting harder and harder to find an available unit in multifamily real estate. In the third quarter of this year, multifamily vacancy fell to 3.6%, down 40 basis points from 2018, to the lowest level since 2000, according to a report from CBRE. On average, rent rose 2.9% year over year, slightly higher than…
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