Blog
Foong on Finance: Initial Look at Financial Regulatory Reform
Last week, President Obama put forward his proposals to make changes to the regulatory oversight of the financial system. Among the proposals, the “ Financial Regulatory Reform Plan” would give the Federal Reserve and the Federal Deposit Insurance Corp. additional controls over financial institutions. It would require hedge funds and private equity funds to be registered with the Securities and Exchange Commission. And it would consolidate the agencies that oversee consumer debt banking into a regulator called the Consumer Financial Protection Agency. Where our industry is concerned, the plan would more tightly control banks that issue mortgage-backed securities. And it…
Guest Blog: The Power of Your Website
We are all familiar with the web and have heard all the stories about young entrepreneurs becoming fabulously rich by building amazing sites and selling products through them. Some examples include Amazon, Zappos, and today’s social media darling Facebook. Every property is a business and just like any other business you need to promote it. The best and most efficient source to advertise your business is through the Internet. Unlike traditional print advertising, your website need not cost a lot to advertise through. Essentially, your website is a tool to take and use as your advertising vehicle in various sources…
‘Who’s Leading the Green Movement?’ Guest Blog with Matt Voorhees
Individual homeowners are going green in record numbers, but they are not the ones who will be the leaders in the green movement because they are going green slowly. As much as they might want for circumstances to be otherwise, most are not in a position to run out and buy, for instance, a high efficiency clothes washer when the old one is still running just fine. It’s a big expense, and while they will ultimately recoup all of the money from the savings on their water bill, the immediate savings does not justify the price of such a big-ticket…
‘Gimme Shelter’ with Daniel Gehman: Cars
“Here is my car, I feel safest of all; I can lock all my doors, it’s the only way to live, In cars.” Perhaps you have the good fortune to remember this ‘top ten’ song from 1980 sung by Gary Numan. I suppose this piece could be the un-official theme number of the City of Angels, where I do most of my work. Over the last two weeks, I have experienced both ends of the spectrum of love/hate for the projectile ICE (Internal combustion engine, for those of you new to the discussion) personal transport system. First, I had the…
‘Guest Blog’ with Scott Yahraus: Stimulus Package for your Complex
In this month’s issue of Multi-Housing News, Christy Freeland, CEO of Riverstone Residential said, “We know that people like to be social, so we’re offering things like movie and game nights, or bringing in guest speakers on topics like physical fitness. We’re not having to spend a lot of money on those things, but it’s the idea of providing a sense of community that will keep residents around longer.” (MHN, June 2009, pg. 13) I could not agree more with Freeland. Your residents are your customers, so it is wise that you treat them well. To me, this means going…
‘Gimme Shelter’ with Daniel Gehman: Aggressive Passive
At least out here in California, “building carbon neutrality” is the new black. In this curious epoch, while we are all waiting to see who will build what next, I have heard it speculated that the “green” movement will fade to a mellow chartreuse until it is clear where the money will come from for new developments. Mmmmm . . . maybe not so much. Most of what I’ve been hearing suggests that the high performance/resource sensitive sensibilities (some folks still say “sustainable,” but I find the word inaccurate and highly charged, so try not to use it) are actually…
Foong on Finance with Keat Foong: Worse Is Yet to Come
If you have been reassured by President Obama’s calm demeanor and are feeling more relaxed these days, there is an opinion article in a recent issue of The New York Times entitled “The Economy is Still at the Brink.” In case you miss the point, an illustration accompanying the article says, in big, black, artistic, letters, “The Storm Is Not Over, Not By A Long Shot.” In the multifamily sector specifically, if the number of outfits being created that are specializing in turnarounds is any indication, players may be expecting the trickle of distressed assets and property owners to…
‘Guest Column’ with Scott Yahraus: Using Facebook at Your Properties
It is not a question any more, rather a certainty. Facebook is here to stay. It has become a part of our everyday lives. Once thought to be used only by Generation “Y”, social media has transformed our lives. The largest growing demographic happens to be females 40 years old and above. If the first phase of the Internet was to get everyone connected, then this second phase of the Internet is about getting the human network connected to each other. I recently heard on NPR (National Public Radio) that the epidemic of workers checking their Facebook pages was the…
‘Guest Blog’ with Scott Yahraus: The Green Fever! But What About the Cost?
It is everywhere and all around us! Being “Green”! It is hard to go through the day without seeing some advertisement for a product promoting itself as green. I see this for banks, retailers, and of course car companies. At the footnotes of emails that I receive there is often a message reminding me to “Think of the environment before you print this email.” If you are anything like me, you subscribe to several trade publications on the apartments industry, as well as the commercial real estate sector in general. This month, a leading apartment magazine ran a cover story…
‘Gimme Shelter’ with Daniel Gehman: Here Comes The Sun
Here in California, there’s a buzz brewing in the construction industry that’s going to have quite a future. As you may know, our state has imposed upon itself a noble goal to reduce greenhouse gas emissions drastically over the next forty years or so. You may also be aware that buildings—their construction and operation–typically account for about forty percent of the GHG produced in the United States. Therefore, those of us who plan and design new buildings and communities are intently interested in figuring out how it will ever be possible to meet the stated goal. The quick answer, of…