RentCafe, Santa Barbara, Calif., compiled a report on the hottest rental markets for the beginning of 2024, finding Miami takes the top spot, but many markets in the Midwest are also popular.
Category: News and Trends
Economic Outlook: ‘Some Momentum’ Going into 2024–#MBAServicing24
ORLANDO–The U.S. economy was stronger in 2023 than most analysts expected, according to Joel Kan, Vice President and Deputy Chief Economist with the Mortgage Bankers Association.
MBA Chart of the Week: 2024 Commercial Mortgage Maturities Pushed Up by 2023 Extensions
Commercial mortgages tend to be relatively long-lived, spreading maturities out over several years.
CREF Policy Update Feb. 29: Fight for LIHTC! MBA’s National Advocacy Conference on March 19-20
Commercial and multifamily developments and activities from MBA important to your business and our industry.
Dealmaker: Ease Capital Provides $32M in Bridge Financing for Virginia Beach Multifamily
Ease Capital, New York, provided Community Investment Group, Chesapeake, Va., with $32 million for the purchase and renovation of Dove Landing Apartments, a 318-unit garden-style multifamily community in Virginia Beach, Va.
FY2024 Government Funding Update
The first deadline of the current two-tiered Continuing Resolution (CR) is Friday, March 1, 2024.
CMF Quote of the Week: Feb. 22, 2024
“Single-family rent growth should remain in the range of about 2% to 4% for 2024.”
–Molly Boesel, Principal Economist for CoreLogic.
CoreLogic: Single-Family Rental Prices Up 2.8% in December
CoreLogic, Irvine, Calif., found single-family rent growth was consistent with pre-pandemic trends in December, with a 2.8% increase year-over-year.
Bank Multifamily Asset Quality to Deteriorate Amid Higher Refi Rates: Fitch
Fitch Ratings, New York, said it expects banks’ asset-quality metrics to deteriorate for certain U.S. multifamily loans as borrowers will face elevated risks from higher refinancing rates and valuation pressures as loans mature over the next few years.
CBRE Forecasts Hotel RevPAR Growth, Fueled by Higher Rates, Stronger Demand
CBRE Hotels is forecasting hotel revenue per available room will continue to grow steadily this year, driven by improving group business, inbound international travel and traditional transient business demand.