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“Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it, if it keeps moving, regulate it, and if it stops moving, subsidize it.” Ronald Reagan, 40th U.S. President, 1981 to 1989   I have become increasingly optimistic about the long term prospects for growth in the economy while at the same time becoming bearish on the newly reformatted democratic party’s view of economic popularism. It seems to me that the lack of accountability on the part of federal officials is beginning to rival the cowboy mentality that made Wall Street so…

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…

“In Russia, we only have two television channels. Channel One is propaganda. Channel Two consists of a KBG officer telling you: Turn back at once to Channel One.” Russian Comedian Yakov Smirnoff Hello Comrades. the next message you see may be from the Commissar’s office thanking you for contributing your information freely to the Motherland. Russian company Digital Sky Technologies just bought into Facebook and while there aren’t a lot of bells going off at the Federal Trade Commission, you can be sure the National Security Agency is working late nights trying to combat this one. If you happen to…

The USGBC recently released its “Top Ten Ways to Use Recovery Funds for Green Buildings.” In its introduction, the report notes that local governments have begun to think “holistically about how to use recovery dollars to advance sustainability in the built environment,” rather than basing change on a “project-by-project” basis. This is pretty evident in the ever-increasing news about city and state efforts to mandate building standards and/or provide incentives to buildings that include a certain green checklist, if you will. While most, if not all, of the USGBC’s Top Ten can be incorporated into multifamily, I find No. 2:…

Construction financing is still attainable, if you know where to look. Learn about obtaining and nenegotia ting for debt financing—including construction, acquisition and refinancing—in today’s difficult environment at the upcoming Multi-Housing World Leadership Summit 2009. The conference, which is produced in conjunction with Multi-Housing News magazine by Nielsen Business Media as part of the Nielsen Co., will be held from Sept. 29-Oct. 1 in San Diego. One panel in the Finance and Investment Track is called “Show Me the Money: How to Find, Negotiate and Secure Construction, Acquisition, Rehab and Permanent Financing.” The panel will be led by David Hendrickson,…

As CAP rates rise, property managers and owners are looking to adjust to their current realities. The economic and financial crisis has forced owners to change course and look to plans B and C. In many cases, the proposed cash out year of 2009 has been pushed back to at least sometime in 2010 at the earliest, based on a new owner’s ability to obtain financing. So what does plan B and C look like? For many, this concept was never thought of upon acquisition. But that is okay. It is never too late to change direction and tact for…

Spotlight on Operations Track A recent assessment by the Wharton School shows a dramatic surge in economic losses from natural catastrophes worldwide, up from just over $50 billion in the 1950s to almost $800 billion in the 1990s. William Gray, a forecaster and the head of the Tropical Meteorology Project at Colorado State University, warns that the probability of a major hurricane striking the U.S. Coast is estimated at 74 percent, compared with the average of 52 percent over the past century. Recently MHN talked to Michael Payton, senior vice president of CAS Partners Insurance Services, the parent company of…

In announcing the proposed Department of Housing and Urban Development (HUD) budget this week, HUD Secretary Donovan seemed to affirm a shift in direction from the Bush years—towards a renewed emphasis on rental housing. Speaking in a teleconference to reporters, he said that the focus has been missing for “too long” from rental housing. He commented that we have had “accelerated disinvestment in key housing and community efforts” in the country in the past few years. And that we have had “a housing policy focused almost exclusively on homeownership at the expense and/or neglect of rental housing as a part…

The state of mind to which I am referring when I mention “conviction” in this blog space is that “of being convinced,” according to my World Book dictionary. To take a position on something that may seem edgy, counter-cultural, annoying, or whatever the counter-intuitive flavor of the week happens to be, requires more than a casual commitment. To stand in the face of opposition, baby, you gotta’ believe!   Last week I regaled you with my story of finding a way to take the office kitchen wastes home on the train. Hopefully that struck as many of you as being…