The president presented his proposals to Congress last evening highlighting both the opportunity to make changes in job growth and the potential derision by the republicans. Despite a lot of wrangling over who is to blame or what sort of spending or stimulus would be effective, the president is offering a plan that is very similar to his previous shovel ready proposition, suggesting that the country can build its way out of this economic morass. The plan fundamentally offers support to manufacturing, construction and municipal spending, all areas important in the apartment industry. While it may be too early to know if this will in fact pass, the mood…

There are a number of reasons why I’m neither surprised nor particularly concerned about the jobs report. At the risk of sounding either bullish or bearish, I like to point out to people the rational difference between managing apartments based on news headlines and the long-term trends that matter in multifamily. Frequently I’m called upon to help decipher the different news releases and help to bring some semblance of order to the different reports on producer price indices, the consumer price index and gross domestic product, not to mention the ever popular monthly jobs report, also known as the establishment survey among the data congnoscenti. Those of us…

I have to admit, despite years of trying to quit, I am an addict. I have been unable to stop being a Fed Watcher ever since those heady days when Alan “they call me Mr. Glib” Greenspan had the job. Now in the latest development, one participant of a group of three that didn’t want to keep the Fed funds rate close to zero has announced he won’t oppose it again, essentially since the decision is now firmly established Fed policy. Now to be honest, as multifamily industry veterans, this is probably better news than you’d think. While some compare…

Nouriel Roubini, “Dr. Doom” who predicted the 2008 crash, is reported to have now tweeted that the next dip will be “uglier than ugly … off the scale bad.” Would the apartment sector, which just saw a strong turnaround in occupancies beginning last year, have to say goodbye to its good fortunes? So soon? Someone commented in a blog that investors know economics, and hence it was not surprising that the stock market plunged, not rose, immediately after President Obama signed the bill that would cut federal spending by $2.4 trillion. There seems to be the notion that the federal…

The Mortgage Bankers Association (MBA) has called upon policymakers to “act swiftly and find a workable solution” in the current debt ceiling negotiations.   “The likely impact to the financial markets, interest rates, and to every family in America will be costly if the ceiling is not raised,” says David H. Stevens, president and CEO of the MBA, in a statement issued this week. Some have argued a solution has always existed that will eliminate the necessity for Republicans/Democrats to negotiate to drastically cut federal spending or Social Security (which does not contribute to the federal deficit), Medicare and Medicaid: the…