Research desk
Apartment supply, deliveries, lease-ups and operating costs for multifamily owners and the managers running the buildings. The desk publishes an original briefing every morning, and every one that carries this tag collects here.
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Freddie Mac's weekly survey put the 30-year at 6.95% for the week ending September 17. Daily and live trackers ran near 7.2%. The gap is a survey lag, and underwriting off the headline understates your debt service by about 30 basis points.
Read the briefingConcessions now run on 43.5% of listings across the 50 largest metros, up 3.1 points in a year, with 18 markets above half. The advertised rent is no longer the price — and Census says the rental vacancy rate's latest annual move is not statistically significant.
Read the briefingAugust Census data shows apartment completions down 35.7% year over year, a statistically significant drop, while permits for 5+ unit buildings rose 9.4%. The widely reported 22.5% plunge in starts carries a margin of error of plus or minus 24.9 points.
Read the briefingThe Fed raised rates a quarter point to 3.75%-4%, and 16 of 18 officials project a higher rate by year-end. Floating-rate debt feels it first; refinancing and values follow a 10-year Treasury that crossed 5% this week. What to do with loans, renewals and budgets this week.
Read the briefingSelf-represented plaintiffs rose from about 11% to roughly 17% of federal civil cases after generative AI arrived, and docket activity per case is up 38%. Two studies find AI-drafted complaints do not win more often. For landlords the exposure is procedural cost.
Read the briefingHUD withdrew its 2016 criminal-records guidance and is proposing to delete its disparate-impact rule, but the statute, the screening regulations and the FCRA adverse-action notice all still apply. What that means for your written criteria.
Read the briefingPublished estimates put a turn at roughly $4,000. Divide the annual dollars an increase earns by that number and you get the move-out risk it can afford to add — the one calculation that should settle most renewal offers in a flat market.
Read the briefingCalifornia gives you 21 days, New York 14, Arizona 14 business days, and most of the rest 30 — but the clock starts at a different moment in almost every state, and a late itemization is often a total forfeiture.
Read the briefingJBG Smith ($8.1M) and MAA ($1.2M) agreed to settle Washington, D.C.'s RealPage antitrust suit. The consent orders go beyond a data ban: for eight to 10 years, neither may use D.C. pricing tools that reward accepting prices, auto-accept without user limits, or make batch rejection materially harder.
Read the briefingPinnacle agreed to a proposed DOJ consent decree filed Sept. 4; Camden Property Trust is the only one of the six landlords Multifamily Dive lists that has not settled. The decrees bar pricing on competitors' nonpublic data; here is what pricing-software users should check this week.
Read the briefingRealPage shows rents up 0.9% year over year and Yardi Matrix logs its first positive August in years, but 1.2 million units still in lease-up cap growth. Renewal pricing this fall depends on your submarket's lease-up share and concession rate, not the national line.
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