"I don't think we're in Kansas anymore"Dorothy in the Wizard of Oz(c) MGM 1935 The election o f Barack Obama to president of the United States is going to have a diverse impact on markets, real estate and ultimately the status of the recovery package authored by the U.S. Treasury department, under Henry Paulson. Not since the administration of Herbert Hoover (what a fun president he was) has a newly elected president faced the myriad of complexities we are now facing as a nation. There are a lot of promises contained in the campaign messages that now ring hollow, it…

It’s no secret that green building is becoming more popular. And, as a result, green building training and certification programs are becoming more fashionable, too. With good reason: As green building gains popularity in the multifamily sector–and in the overall building industry–there is an increased need for information about what green building entails and how to actually do it. The industry is responding by offering grants, training and more information. •    New grants mean new training funding: Consider, for example, the upcoming green building program at the Technical College of the Lowcountry in South Carolina. Funded by an $86,000 grant…

Up until recently, the kitchen was designed as a functional laboratory for a single participant, the woman of the house, the little lady, mom.  It was laid out with assembly line efficiency with a window centered on the sink so she could watch the little ones in the back yard. The evolution of the Modern Kitchen has grown far from its primary function of food preparation, to that of “the social center of the home”.  A place where the family, both nuclear as well as tribal, still gather to share, rejuvenate and commune together. Today the Modern Kitchen is still…

Homeownership is a hot button issue politically. Recently, the four horsemen of HUD, secretaries Alphonso Jackson, Henry Cisneros, Jack Kemp and Moon Landrieu were together for a session at the Fall ULI Conference in Miami. As the discussion turned to housing needs and the concept of the suitability of homeownership for anyone so inclined, the secretaries, in one form or another claimed that the issues now facing the housing markets were politically motivated, corrupt practices in the mortgage industry, uninformed buyers or others that preyed on unsuspecting borrowers. They also suggested in some fashion that HUD was an essential tool…

Green design has become a popular way to market new homes. Now, it’s catching on in a new segment of the housing market: Affordable and low-income housing building renovations. With benefits that include savings and a better overall residential experience, it’s a trend that’s likely to continue. Increasing Energy Efficiency and Savings LINC Housing Corp. is currently renovating the Terracina Apartments in San Jacinto, Calif., for general maintenance improvements. To offer residents energy savings, LINC also is making several green upgrades and renovations to the property, Hunter L. Johnson, LINC Housing president and CEO, tells MHN. The alterations–which should offer…

By Teresa O’Dea Hein, Managing Editor Being scared is socially acceptable this week, with Halloween creeping up fast. But with job losses and fewer households being formed and tighter credit, even multi-housing executives are wise to be nervous. FDR’s famous phrase about “the only thing to fear is feat itself” has taken on new life, to the point where one of the New York daily newspapers printed it on its cover a few weeks ago after one of the stock market’s big declines. Plus, we should remember that many aspects of property management are controllable. For example, addressing maintenance/service needs…

"Why, its getting so a man can't earn a dishonest living no more!" Yosemite Sam, (c) Looney Tunes 1949 In a rare misstep in an otherwise brilliant career, former Fed Chairman Alan Greenspan, who probably thought he was still on his book tour for the newly released "Geez, I had no idea and if I did, I wasn't aware of it," appeared before a Congressional Committee and gave his version of the subprime events showdown. In what was performance art, reminiscent of Yosemite Sam and Bugs Bunny, Greenspan maintained his composure in front of the moron squad, headed by Henry…

It’s clear California supports green building. Starting Nov. 1, all new San Francisco buildings will be required to meet the city’s new green building standards, which were developed by the Green Building Task Force. Two weeks ago, San Jose, Calif., adopted mandatory green building standards for all new construction. The state of California also has general green building standards designed to increase energy and water efficiency, material conservation and air quality. The currently voluntary building code alterations—which Governor Arnold Schwarzenegger called a move “to ensure that when we break ground on all new buildings … we are promoting green building…

Start Spreading the News, They’re Leaving Today… I have been engaged in conversations with a variety of people very familiar with the New York metropolitan real estate market and they’re worried. Rightfully so, it seems as New York and the surrounding employment corridors are about to make history again, this time for job loss. Our estimates for the Manhattan-Northern New Jersey-Connecticut region show a loss of over 155,000 jobs, and for the first time, a very probable spike in apartment vacancies. The unemployment rate will probably vacillate between 5.8% and 6.8% (you know I think the household survey is inaccurate,…

I Love the Smell of Cactus in the Morning In what can only be described as an economic calamity meets public policy overload, today we travel to sunny Phoenix, where the cactus is in bloom, the temperature is a very modest 86 degrees and lots of apartments are empty. If you listen closely, you can hear the sounds of cars leaving Phoenix and not coming back. Phoenix, once the dominant poster child for institutional investment has achieved some level of notoriety lately since the city government, in their infinite wisdom passed a law suggesting that it was unlawful to hire…