The U.S. economy passed another hurdle last week, as the final Q4 2022 estimate of GDP showed 2.9% annualized growth.
Los Angeles voters approved Measure ULA in November of last year, a proposition that will create a new tax on real estate sold for $5 million or more. According to the proposition, the tax proceeds will be used to fund new affordable housing projects and homelessness initiatives.
Thus far, the U.S. economy is handling the recent banking crisis and last week’s interest rate hike well. Capital markets
After a turbulent week in the economy last week, all eyes will shift to the Federal Open Market Committee meeting,
Another strong employment report was overshadowed by the collapse of two regional banks last week and over the weekend. Silicon Valley Bank was taken over by federal regulators and Signature Bank was closed by state regulators after concerns over the safety and availability of deposits led to a run on both banks.
After a quiet week on the economic front last week, all eyes will be on Capitol Hill, as Fed Chair Jerome Powell will begin a two-day testimony to Congress on Tuesday. Congress will likely grill Powell on the Fed’s next interest rate hike and the path forward for interest rates through the balance of this year.
Given the strong economy and continued in-migration from the northeast and surrounding areas, Atlanta’s apartment demand remains elevated. Traffic and leasing across the metro are above the national average. However, significant new supply continues to dampen key multifamily fundamentals, including rent and occupancy.
Multifamily professionals continuously seek opportunities to maximize the performance of their assets. A strategic approach to achieving this involves analyzing their positioning within the comp landscape using direct comparisons. However, generating direct comparisons can be challenging, especially when comparing properties with substantial differences; this is where Radix’s Perspectives tool comes in.
In this edition of Radix’s Multifamily Insights, Chris Nebenzahl discusses the importance of focusing on traffic and leases as leading indicators for the multi-family industry. As we approach the prime rental season, which typically begins in March, it is essential to understand how traffic and leases can indicate how the rest of the year will go for the industry.