Industry News | Wk of August 6
HOT & RELEVANT TOPICS
Top Technologies Impacting The Real Estate Market Today
Technology continues to have an increasingly pronounced effect on the decisions of renters and homebuyers. Members of Forbes Real Estate Council rated the 10 tech-related concepts having the biggest effect on real estate and discussed why. Purpose-built data management systems rated No. 1, as the industry continues to move away from paper spreadsheets in favor of all-encompassing software. CamScanner apps, which allow remote execution of documents to enhance quicker transactions, rated second. Marketing automation tools and resident communication portals also made the list. Read the full Top 10 by Forbes Real Estate Council.
Cities’ Offers for Amazon Base are Secrets Even to Many City Leaders
Secrecy has surrounded the search for Amazon’s HQ2, as many civic leaders across the country are unaware of the precise tax credits and additional perks that have been promised to the tech giant. There is a growing legal push to find out, because taxpayers could get burdened with a sizable bill and have no chance to stop it. In many cases, the information blackout is due to bids made by local private groups not required to make their negotiations public. That includes private Chamber of Commerce affiliates or economic development groups. Read Julie Creswell’s article in the New York Times.
Combating Social Isolation With Design
Social isolation and loneliness can lower life expectancy similar to smoking 15 cigarettes a day according to a recent Harvard Business Review article. While communing with smartphones often occurs more often than with other humans in a digital world, new thinking shows that thoughtful community design can positively influence social interaction, health and overall well being. Multifamily Executive has developed a Concept Community program featuring several owner/operators that aims to connect residents to each other through the design of the building and reduce social isolation. Read Jennifer Castensen’s article in Multifamily Executive.
IN THE NEWS
How Kale Smoothies Are Affecting Rental Housing
With younger generations more health conscious than ever, apartment operators must provide living experiences that cater to health-focused ideals. Diane Bataveh, CEO of Village Green, explores five ways the rental industry can meet the fitness-related cravings of millennials and Gen Zers. Those include meeting fitness ambitions, allocating space for common areas (and co-working spaces), creating soundproof spaces and quiet zones, ensuring environmentally friendly surroundings, and optimizing for modern, urban living goals. Read Batayeh’s article in units magazine.
Clear Skies For Multifamily Investors – For Now
Unemployment is at a 50-year low, and the rate figures to hover around 3 percent by the end of the year – a figure previously believed impossible. The robust economy clearly signals positivity for multifamily investors, but they should take a few things into account before spending too freely. First, the strengthening fundamentals have caused the Fed to raise its fed fund rate for the second time this year, and two more hikes are expected by the end of 2018. In addition, by April 2019, the full weight of the new tax plan, higher interest rates and increased tariffs will be evident. Read Mark Ventre’s ViewPoint in Multi-Housing News.
The Best and Worst Places
to Rent in America
Apparently Arizona – particularly the Phoenix area – is the place to be for apartment renters. WalletHub recently released a study rating 182 markets from best to worst based on market, affordability and quality of life. Four Arizona-based markets topped the list based on 22 metrics – Scottsdale, Peoria, Chandler and Gilbert. Detroit was rated the worst place to rent, followed by Memphis and Cleveland. In the Rocky Mountain Region, Colorado Springs checked in at 51, Denver at 86 and Salt Lake City at 119. Read Symone Garvett’s article in Multifamily Executive.