Commercial and multifamily developments and activities from MBA important to your business and our industry.
Category: News and Trends
Commercial and Multifamily People in the News April 6, 2023
Personnel News from JLL, Avison Young and Lument.
CMF Quote of the Week: April 6, 2023
“While the concept is appealing and well-intended, MBA unfortunately believes the impact of the proposed changes will have a significant negative impact on the supply of these affordable units. MBA urges HUD to reconsider this proposal, and to use all tools to preserve existing properties.”
–From an MBA letter replying to HUD’s proposal to transition to a single Section 8 regulation and a single Housing Assistance Payment contract for its Section 8 project-based rental assistance programs.
AFIRE: U.S. Still Preferable to Europe for CRE Investment
AFIRE, Washington, D.C., reported the U.S. remains a preferred destination compared to Europe for real estate investment across property types, despite challenges.
MBA Letter Addresses Risks to Proposed SEC Rule on Securitizations
The Mortgage Bankers Association, in a Mar. 27 letter to the Securities and Exchange Commission, said a proposed rule to curb certain material conflicts of interest in securitizations is flawed and would present risks to that market.
Fed Adds 25 Basis Points to Federal Funds Rate
The Federal Open Market last week raised the federal funds rate by another 25 basis points, a move widely anticipated by analysts and financial markets.
Commercial Property Prices Down 7% From Year Ago
The commercial property pricing decline steepened in February, pulled down by a sharp fall in the apartment sector, reported MSCI, New York.
RealPage: Class A Apartments Command 28% Rent Premium Over Class B
A growing gap between Class A apartment rents and Class B rents is increasing investment activity in middle-market Class B product, reported RealPage, Richardson, Texas.
HUD Updates Guidance for Section 8 Project-Based Rental Assistance Contract Renewals
On Monday HUD’s Office of Multifamily Housing Programs updated its guidance for owners of properties participating in its Section 8 Project-Based Rental Assistance program.
MBA President and CEO Bob Broeksmit, CMB, on Recent Coverage of Uncertainty in Commercial Real Estate Markets
Bob Broeksmit, CMB, President and CEO of the Mortgage Bankers Association, issued the following statement on recent coverage of uncertainty in commercial real estate markets: