Last month, everyone’s attention was focused on the $1.9 trillion stimulus bill, hammered out over nearly two months and ultimately passed on March 11. The multifamily industry quickly reacted, with the National Apartment Association and the National Multifamily Housing Council releasing a joint statement lauding the plan. What’s more, the more than $46 billion in emergency aid approved by Congress last December is finally beginning to flow from some states and jurisdictions.
Uncertainty still lingers in the industry, with many unknowns about what the future holds. In a podcast episode, National Apartment Association’s Paula Munger talked about how the pandemic changed the industry and multifamily trends for 2021. Jason Weissman of Boston Realty Advisors explained what’s at stake for urban multifamily real estate as residents increasingly relocate to suburban areas.
As the unemployment rate remains relatively high, with millions of Americans still without a job and facing the prospect of being evicted, affordability is top of mind for industry players. The bulk of the country’s affordable housing property owners have reported missed rent due to the coronavirus pandemic, according to a Stewards of Affordable Housing for the Future for the NHP Foundation survey. A new research report from the Mortgage Bankers Association’s Research Institute for Housing America stressed that almost all of the 50 largest metro areas have become less affordable for renters and first-time homebuyers since 2001. In an interview, Salim Furth, senior research fellow at Mercatus Center at George Mason University, highlighted some easy-to-implement solutions to alleviate housing affordability issues. And JLL’s affordable housing team detailed the dynamics currently shaping this asset class, as well as its unsung upside.
Now more than ever, marketing plays a significantly important role in the multifamily industry, especially for harder-hit sectors. Thrive Senior Living’s Nicole Moberg discussed creative strategies senior housing operators can use to market their communities in these challenging times. To help multifamily investors understand how important choosing the right name for a property is, we compiled a list of five tips for successfully renaming apartment communities. And, because digital content is at the heart of many companies’ business strategy, we detailed four ways to select the right keywords for apartment marketing.
Here are MHN’s must-reads for last month: