National
Data Shows Americans Moving Less; What This Means for Multifamily
Americans are on the move, though not as much as in recent years. According to the U.S. Census Bureau, 35.9 million U.S. residents (or 11.7 percent) moved between 2012 and 2013. This shows a decline from the 12 percent of Americans who moved in 2012.
Economy Watch: Majority of States See Unemployment Rate Drops
The Bureau of Labor Statistics reported that 28 states had unemployment rate decreases in October compared with September, while 11 states and the District of Columbia saw increases and 11 states experienced no change.
Economy Watch: Negative Equity Nose Dives
Zillow reported that one of the persistent hangovers of the housing bubble and the recession that followed, namely negative residential equity, dropped in the third quarter of 2012 to 21 percent of all homeowners with a mortgage.
Economy Watch: Fed Mulls Tapering in the Near Future
The Federal Open Market Committee released the minutes from its Oct. 29-30 meeting, and one of the more closely watched subjects taken up in was tapering.
Economy Watch: Bernanke Defends Fed Stimulus
Probably with an eye toward his legacy, Fed Chairman Ben Bernanke spoke at the National Economists Club Annual Dinner in Washington, defending his actions as chairman and offering some reasons for the continued bond-buying program.
TODAY’S DEALS: Advenir Acquires 400 Units in North Miami
Advenir completes a $44.5 million acquisition; NorthMarq arranges $89.1 million to refinance a California portfolio; and Centerline provides a $19.5 million Fannie Mae refinance and obtains waivers for a Baltimore property in less than 60 days.
Economy Watch: Homebuilders Still Confident
Builder confidence in the market for newly built, single-family homes was unchanged in November from a downwardly revised level of 54 in October, according to the National Association of Home Builders.
TODAY’S DEALS: Avalon Bay Sells 588-Unit Apartment Asset for $210 Million
The DSF Group buys a property from AvalonBay in New Rochelle, N.Y.; Berkeley Point Capital provides $20.7 million for an Illinois apartment acquisition; and Edgewood Capital funds a $3.75 million bridge loan.
Builder Confidence Holds Steady in November, According to NAHB
Builder confidence in the market for newly built, single-family homes was unchanged in November from a downwardly revised level of 54 on the National Association of Home Builders/Wells Fargo Housing Market Index.
Economy Watch: Housing Slump’s Impact Unequal
The Census Bureau reported that the recession hit home values in more populous U.S. counties harder than smaller counties.