CREF Policy Update: July 13, 2023
Commercial and multifamily developments and activities from MBA important to your business and our industry.
Construction Spending Increases for Fifth Consecutive Month
The Census Bureau reported construction spending increased in May to a seasonally adjusted annual rate of $1,925 billion, 0.9 percent above the bureau’s revised April estimate.
RCLCO: Sentiment Improves, but Still Points to Recession Worries
RCLCO, Washington, D.C., said its mid-year Sentiment Survey found an uptick in its Current Real Estate Market Sentiment Index to 19 from a low of 8.3 at the end of 2022. However, survey respondents still believe a recession is likely, even as many measures slowly begin to improve.
Low-Cost Rentals Have Decreased in Every State, Harvard Finds
The supply of low-cost rental apartments fell by 3.9 million units over the last decade and in every state, the Harvard Joint Center for Housing studies reported.
Dealmaker: Gantry Secures $12M to Refinance Affordable Multifamily Property Near Seattle
Gantry, San Francisco, secured a $12.1 million permanent loan to refinance an apartment property in Auburn, Wash., in the Seattle suburbs.
New Date, July 24: MBA Education Webinar Office Doldrums: Challenges, Opportunities and Nuances
Office markets and performance are on the minds of market participants as technology layoffs and space reduction announcements drive the year’s news cycles along with rising interest rates. Join MBA Education and industry practitioners as they explore opportunities and challenges in the office sector.
