Stock Prices

Upfront:WALL STREET WATCH

Despite record oil prices, hurricanes and a slowing housing market, the Apartment Finance Today Index (AFT Index) ended the year with solid gains, and in fact with every company finishing in the black. More

Conduits desperate for deals

New York City – In 2004, investors bought $128 billion in commercial mortgage-backed securities (CMBS), breaking all previous records. At the time it seemed like a lot of money. But by Dec. 2, 2005, CMBS issuance had already broken $208 billion and was re More

Perm financing competition in 2006 to focus onterms

Despite expected hikes in permanent mortgage rates and scant remaining leeway on underwriting standards, the 2006 lending environment is shaping up to be another windfall for proven market-rate apartment owners and buyers. More

Wall Street, offshore banks target constructionlending

Reflecting the continued flood of capital generally targeting income properties, some builders should even expect cold-calls from new lenders entering the construction arena. More

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Pricing Pressure

When demand exceeds supply, prices rise. That's one of the fundamental principles of economics. But it may not apply in the apartment market during the near term. The outlook for rent recovery in much of the nation doesn't look very promising, even after employment growth levels regain momentum and begin to yield apartment demand in excess of completions. More

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2003 Multifamily 50 - Part 2

In 2002, three forces – a national recession, low interest rates for first-time home buyers, and an oversupply of new apartments–came together and created a "perfect storm" that crashed into the multifamily market, negatively impacting operating performance by putting upward pressure on the national vacancy rate. To stem the tide of declining demand, owners re-priced their rental rates through increased concessions and outright rental rate decreases, helping to stabilize the vacancy rate. The decrease demand for apartments is a root cause of the decline in operating fundamentals for the multifamily industry. More

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2003 Multifamily 50 - Part I

While the multifamily market currently shows signs reminiscent of the devastating late 1980s, it looks like the industry is on track to a strong fourth quarter in 2003 and should remain steady for the foreseeable future. Although several areas have seen some of the short-term negative indicators that defined the late 1980s – an increase in vacancies, a rise in concessions, as well as stagnant rents – many states, including California, Texas, and New York, still have a major shortage of units and new development will continue. More

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Swimming Upstream

Gerald Ogier has found that in every business cycle there is a development cycle,... More

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There's No Place Like Home

Home Properties prides itself on its "family feel." This public real estate... More

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Who's Got The Next Round?

The sluggish performance of the stock market and other investment vehicles, combined with historically low interest rates, has fed a real estate frenzy around the country. And, given apartment properties' relatively stable performance over time, the multifamily sector suddenly finds itself hosting a very crowded party of people who want to be part of the scene. More

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