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2024 Multifamily Housing Market: A Year of Cautious Optimism and Stabilization

By HFO Investment Real Estate Research Following partner meetings with dozens of institutional multifamily owner groups at the National Multifamily Housing Conference in San Diego last month, it appears the multifamily housing sector is entering a period of cautious optimism in 2024. For the most part, institutional owners, whose multifamily...

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Sold! 52 Units in Tigard, OR

We're thrilled to announce the successful sale of Tigard York, a 52-unit garden-court apartment community in the heart of Tigard, a vibrant westside suburb of Portland. Kudos to Greg Frick, Rob Marton, and Tyler Johnson for navigating this complex transaction and helping a 1031-exchange buyer secure funding, showcasing HFO's ability to secure a...

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Citizens’ Initiative 2023-01: How Your Vote Could Impact Tacoma's Rental Landscape

On August 30th, a significant decision was made regarding Tacoma's rental housing landscape. A judge ruled against including the already-passed Measure No. 2, which expanded renter protections, on the November ballot as an alternative to the proposed "Citizens’ Initiative 2023-01." The Tacoma City Council had voted to include Measure No. 2 on the...

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Analysis Finds Owning a Home 70% More Costly Than Renting

Recent analysis by the real-estate technology platform Cadre reveals that for many Americans, renting might be the more economical choice given the skyrocketing costs of homeownership. With mortgage rates surpassing 7% and home prices at an all-time high, combined with fierce competition due to limited home listings, potential buyers are finding...

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Yardi Matrix Trends Report: Transactions, Pipeline, Rents, Occupancy, and Operating Expenses

Yardi Matrix is out with a new report on multifamily housing. Here are the highlights: Construction Pipeline Falling Construction financing is in short supply, likely significantly reducing deliveries between 2025-2027. This coincides with a similar report from RealPage. Regulatory costs account for 40% of multifamily development costs with...

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Portland City Council Greenlights Tax Incentive to Boost Downtown Business

The Portland City Council has unanimously approved a tax incentive aimed at retaining businesses in the city's downtown, Old Town, and Lloyd and Lower Albina districts. This credit, designed to reduce business license taxes, is available to companies with a minimum of 15 employees that sign or extend a lease for at least four years in the...

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The Future of Housing? Greystar Modular Home Factory Puts Out

Greystar, a leading multifamily developer and the largest operator of multifamily housing in the U.S., has begun work on its first U.S. modular housing project named Ltd. Spring Run in Coraopolis, Pennsylvania. This 312-unit property, constructed entirely from modules produced at Greystar's Modern Living Solutions factory in Knox, Pennsylvania...

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New Eugene Rental Housing Laws Now in Effect

On July 24, 2023, the Eugene City Council passed Ordinance Number 20694, amending various sections of the Eugene Code related to rental housing, effective August 25, 2023. Click here to read and download a copy of the complete ordinance. Key Highlights: Security Deposits: Landlords can't ask for more than two months' rent as a security deposit...

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Report: CPI Likely to Continue to Falling as Flat and Declining Rents Impact Future Reports

ApartmentList.com is well known for its meticulous and transparent analysis of U.S. rental market trends. Their recent studies highlight the relationship between U.S. inflation trends and changes in the apartment market. Impact of Rent on Inflation: In 2021 and 2022, post-pandemic rent increases significantly influenced the rise in overall...

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Portland's Downtown Is Doing Much Better Than You've Been Told

City Observatory blogs this week about a recent story in Portland's Street Roots newspaper by Mary King, professor emerita of economics at Portland State University, which exposes serious flaws in cell phone data used to measure downtown's recovery. The local and national press have flogged downtown Portland's supposedly tepid recovery from the...

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Washington State's Eviction Process, Simplified - with Brad Kraus

HFO founding partner Greg Frick welcomes Brad Kraus, a landlord-tenant lawyer, to discuss the state of Washington's landlord-tenant laws. Brad discusses eviction actions, security deposit obligations, and the impact of the CARES Act issue on Washington eviction notification. Watch this video and hundreds more of our exclusive interviews on our...

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HFO-TV: How Will Recent Legislative Changes Impact Housing? Marcel Gesmundo Explains New Oregon Laws

HFO Founding Partner Greg Frick is joined by Marcel Gesmundo, Partner at Andor Law Firm, to discuss changing regulations, the pros and cons of localized rental housing rules, and how property owners can stay informed and advocate for themselves and their residents. Watch this video and hundreds more of our exclusive interviews on our website at...

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Proptech: Michael Gratteri of Swiftlane on the Use of Facial Recognition for Apartment Security

Michael Gratteri of Swiftlane specializes in smart building technology, particularly in facial recognition access and video intercom for multi-family security. Swiftlane's facial recognition technology allows tenants to access their units without physical keys or phones, enhancing security and convenience. Benefits of this technology include lower...

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Manning & Lake Oswego Top the List of Highest-Earning Zip Codes in the Portland, Oregon Metro Area

Originally published on Stacker The 2020 median household income in the U.S. was $67,521, a decrease of 2.9% from the 2019 median of $69,560, according to the U.S. Census's annual analysis of income and poverty in the U.S. COVID-19 in 2020 drastically altered income and poverty levels, along with consumer habits and job opportunities — the fallout...

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Rents Fell in Cities Post-Pandemic, but In the Burbs, Not so Much

ApartmentList has a new interactive chart available demonstrating rent trends for metro areas throughout the United States. While rents soared in early 2021, rents dropped by January of 2022 and increased again in September 2022. Since November of 2022, rates have generally flattened, with current rent growth for Portland and Seattle reported as...

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RentCafe: America’s Apartment Boom: 1 Million Units Built in 3 Years, Another Million to Be Added By 2025

RentCafe reports that apartment construction is having some of its biggest boom years ever. The construction cycle is expected to slow significantly after 2025 due to construction loan rates, currently averaging 8%. Read more. HFO Investment Real Estate specializes in multifamily brokerage sales and advisory services for commercial real estate...

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Washington Multifamily Housing Association Endorses Candidate for Governor

The Washington Multifamily Housing Association Board of Directors has endorsed Senator Mark Mullet (D-Issaquah) for the next governor of the State of Washington. The association plans to actively support his campaign through public outreach, member engagement, and industry education efforts. In a prepared statement, the association provided the...

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The Hidden Truth of Oregon's HB 3042: How It Redefines Oregon’s Subsidized Housing Market

One bill that passed the last legislative session in Oregon that has not received wide media attention is HB 3042. About HB 3042: According to attorney John A. DiLorenzo, Jr., under the previous system: those with a tax credit deal would sign a rent regulatory agreement with the state, lasting for an initial 15-year period. After this period...

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Senate Bill 35: California’s Secret Weapon Against the Housing Crisis?

California's Senate Bill 35 has sparked significant growth in affordable housing construction by reducing local opposition. With 156 projects approved or under review, resulting in 18,000 new units – 62% of which are reserved for those earning below 80% of the median income – it's proven effective. The Terner Center's recent study highlights its...

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Lawsuit Ahead? Oregon House Does The Two-Step on Low-Income Housing Tax Credit

In this HFO TV episode, partner Greg Frick and attorney John A. DiLorenzo, Jr. of Davis Wright Tremaine discuss lesser-known HB 3042, its implications for Low-Income Housing Tax Credit (LITEC) subsidized units, and the likely legal challenges. They delve into the extended use period, rent increases, and the need for rental increase permission from...

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