Given the never-ending stream of bleak economic news of late, the stock market’s one-day surge on Tuesday was taken as a welcome sign. The major indices all saw their highest single-day gains of the year thus far, but whether the rally can be sustained for even a few days is, of course, another matter entirely. Meanwhile, the $410 billion spending bill just passed by the Senate will be enough to fund the government’s operations for the remainder of the fiscal year. Despite clearing the Senate by a vote of 62-35, critics assailed what they claimed were nearly $8 billion in…

If we all expect the development paradigm is actually going to shift, there are many cases in which we must actually be out there pushing it. I’m coming up to a situation in my own back yard. This means, I may actually have the opportunity to “put my money where my mouth is” and come out in support of something which I find positive for my community. It revolves around a senior housing development planned for a site within a mile of my home. This community came to my attention through a tiny neighborhood newspaper I receive in the mail….

“If economists could manage to get themselves thought of as humble, competent people on a level with dentists, that would be splendid.”—John Maynard Keynes (British economist and writer, 1883-1946) There are certain professions where the level of expertise and necessary practice are best left undiscovered. Example include professional fishing, working at a water treatment plant and attending Zamboni Driving School. (Question, does anyone actually flunk out of Zamboni Driving School?) Another profession, equally steeped in mystery, surrounded by tons of charts, tables, miscellaneous facts and doyennes of desire (think Erin Burnett) is economics. With almost a secret alchemy, economists have…

“I get no respect. The way my luck is running, if I was a politician I would be honest.”–Rodney Dangerfield In the ever-present sport of President watching in Washington, D.C., it’s easy to become immune to the foibles of policy debates, Sunday morning talk shows and ratcheting spending. I’ve had occasion recently to speak with friends, colleagues and readers of this column about their views on Washington and how the political message is playing out. What they’ve shared with me is, in a word, surprising. Apparently the euphoria of the new President is wearing off as fast as they’ll tire…

This week I’d like to take a break from the non-stop downer of the news cycle and talk about something else that’s near and dear to my heart: fresh thinking. I’m not even especially concerned about it being “outside the box.” You may have heard me say before that as a designer working in the multifamily industry, our really big moves happen when we think of something a bit new INSIDE the box. My neighbor Matt is in residential property management. Yesterday he mentioned to me that he had been very busy since October—re-painting apartments as people moved out. “Where…

A whirlwind of actions under the new Obama Administration. In quick succession, in the space of a little more than seven days, we have seen the following developments: (1.) Feb. 10: The announcement by Treasury Secretary Timothy F. Geithner of the White House’s financial rescue effort, the Financial Stability Plan, that will involve using the remaining $350 billion from TARP, and the employment of as much as $2.5 trillion in total; (2.) Feb. 17: the signing by President Obama of the $787 billion economic stimulus bill, The American Recovery and Reinvestment Act; (3.) Feb. 18: President Obama’s announcement of the…

“I’ve learned more in my lifetime, than you’ll probably ever know, because, wait, what were we talking about?”–My Grandfather, 1964 There is a lot of interest in multi-housing for all of the sectors, but lately there have been some great questions on continuing care retirement communities and nursing facilities. The biggest difference, as the claim goes, between market-rate and seniors housing is that teenagers are easier to handle than seniors. A friend of mine, an investor in businesses that serve the multi-housing industry, helped put a movie deal together not too long ago and now, if you happen to live…

For those of you who have never been stuck in a vehicle, whether in mud or, more likely in snow, this concept may be a little hard to grasp. However, anyone who has been through this experience will recognize that astonishingly satisfying moment when your wheels finally grip something with a bit more bite than whatever mush you’ve been digging through, and do the expected job of propelling you forward. I had an indelible traction moment this week, and it has to do with one of my pet interests: the “greening” of multifamily residential projects. This is the same week…

“And now, of course this is another thing I didn’t count on, that now as the Governor of the state of California, I am selling California worldwide. You see that? Selling.” Governor Arnold Schwarzenegger, State of California With little fanfare and a huge amount of criticism, the state of California is suffering in an unprecedented way. With budget shortfalls estimated as high as $42 billion dollars, the state announced recently that approximately 20,000 employees could be furloughed and countless other projects in process, including the construction of bridges and roads, will be stopped completely. The unavoidable conclusion from all of…

Because of my friendship with the director of the ULI Los Angeles Chapter, I was invited to the presentation of the executive summary of the ULI National Advisory Panel’s charrette on the Jordan Downs community and greater surrounding area of Watts. Those of you non-Angelenos may recall this storied community as the flashpoint of the 1965 riots in Los Angeles. It is also, incidentally, the birth place of the infamous LA gang known as the “Crips.” In what was ultimately a wonderfully optimistic program, a couple of things struck me. Among the recommendations of the Advisory Panel, which consisted of…