“Rents have flattened because a boom in apartment building in recent years has flooded the market with supply, but they haven’t yet posted a substantial decline because there’s still demand for rentals—especially as high mortgage rates keep many would-be homebuyers and sellers on the sidelines.”
–Redfin Economics Research Lead Chen Zhao.
“The growing trend around [office to multifamily] conversions may help to revitalize downtown areas that have been affected by changing workstyles that result in less need for office space.”
–Mike Watts, CBRE President of Investor Leasing.
“Rest assured, we will continue to voice our members’ concerns to key policymakers and staff–in both the Congress and the Biden administration–regarding the detrimental effects of a shutdown of any length.”
–Mortgage Bankers Association President & CEO Robert D. Broeksmit, CMB
“Commercial and multifamily mortgage debt outstanding rose again in the second quarter, driven by increases in the mortgage holdings of life companies, the GSEs, banks, and other depositories.”
–Jamie Woodwell, MBA’s Head of Commercial Real Estate Research
“Property insurance is the first line of financial defense for homeowners, commercial owner/operators, and lenders in the event a property is damaged. The availability and affordability of property insurance impacts these groups directly, but also has downstream impacts on the broader real estate market, including lending, construction, and the availability of affordable housing – for both renters and homeowners.”
–MBA Senior Vice President of Legislative and Political Affairs Bill Killmer, in a letter to the Senate Committee on Banking, Housing and Urban Affairs regarding challenges in the property insurance market.
“Housing choice vouchers are some of the strongest tools we have to help families find stable and affordable housing.”
–HUD Secretary Marcia L. Fudge
“Housing choice vouchers are some of the strongest tools we have to help families find stable and affordable housing.”
–HUD Secretary Marcia L. Fudge
“Annual single-family rent growth has returned to its long-term, pre-pandemic rate, but increases for attached properties were one-and-a half-times that of detached properties in June; this is historically not the case, as both housing types tend to rise at the same pace.”
–Molly Boesel, Principal Economist for CoreLogic
“The rise in interest rates combined with available investment returns in other fixed-income investment opportunities continue to be the primary drivers for the upward pressure on cap rates.”
–Boulder Group President Randy Blankstein
“Governments at all levels, working with the private sector, have many tools for adding to housing stock and making rental housing more affordable, but rent control is not part of the solution. In fact, it will make the affordable housing crisis worse.”
–MBA President & CEO Bob Broeksmit, CMB
