Most millennials rent but lack renters insurance via CNBC.com

Millennials are more likely to rent than to own their homes. But nearly six in 10 don't have renter's insurance, according to a new survey.

The Insurancequotes.com survey, conducted by Princeton Survey Research Associates, found 60 percent of 18- to 29-year-olds are renters—compared with just 36 percent of all Americans. But the majority of them lack coverage.

"I think that millennials just don't take the time to get renter's insurance," said Dick Power, a certified financial planner and founder of the Walpole, Mass.-based investment advisory firm Power Plans. "They don't have a concept of risk."

Read more...Most millennials rent but lack renters insurance

MPF: San Antonio multifamily trends 4Q 2014 via Real Estate Center at Texas A&M

Like other major metros in Texas, San Antonio’s apartment sector showed strong growth coming out of the recession. However, unlike those other metros, San Antonio already appears to be reverting to a slow growth pattern that is more consistent with its own historical performances, according to MPF Research.

Structurally, the San Antonio metro is a more moderate-growth metro — heavy on government-related jobs, but not on large private employers.

Read more...MPF: San Antonio multifamily trends 4Q 2014 via Real Estate Center at Texas A&M

Competition to Finance Multifamily Will be Keener than Ever in ’15 via Multi-Housing News Online

Multifamily lending is the still dominated by Fannie Mae and Freddie Mac, but other lenders are increasingly important in the space, according to a recent report by JLL. The GSEs posted a slightly smaller market share in 2014 compared with the previous year, according to Faron Thompson, leader of JLL’s multifamily debt financing platform. “Other lenders are becoming competitive, but the agencies will maintain their edge with the introduction of new products including a small balance loan initiative, manufactured housing program, tax-exempt loans and value-add products,” he said.

All together there was about $55 billion in lending for multifamily projects and acquisitions in 2014, and JLL expects this year’s total to be at least that much, if not more. According to the company’s latest research, the investment community remains enamored with the sector, leading lenders to duke it out to secure debt yields.

Read more...Competition to Finance Multifamily Will be Keener than Ever in ’15 | Multi-Housing News Online

D-FW has one of the country’s lowest homeownership rates via Dallas Morning News

Dallas-Fort Worth is on its way to becoming a city of renters.

The D-FW area is among the major U.S. cities with the lowest percentage of homeowners, according to a new report by the Department of Commerce’s Census Bureau.

Only 56.3 percent of D-FW residents were homeowners in the fourth quarter of 2014. That compares with a nationwide homeownership rate of 64 percent.

Read more...D-FW has one of the country’s lowest homeownership rates | Dallas Morning News

Texas Manufacturing Activity Remains Flat in February, Says Dallas Fed Survey via Dallas Fed

Texas factory activity posted a second month of no growth in February, according to the Federal Reserve Bank of Dallas’ Texas Manufacturing Outlook Survey.

Texas produces more than 11 percent of total manufactured goods in the United States, ranking second behind California in factory production.

The production index—a key measure of state manufacturing conditions—remained near zero (0.7), indicating output was essentially unchanged from January levels.

Read more...Texas Manufacturing Activity Remains Flat in February, Says Dallas Fed Survey - Dallas Fed

Apartment Construction Boom Could Extend Well Into 2016 via CoStar Group

One of the most popular topics of discussion at commercial real estate conferences over the last few months is when will the current rush of U.S. apartment construction slow down -- and recent government numbers and commentary from CoStar economists suggest that the answer may not be any time soon.

Although the number of new single-family homes starting construction dropped in January 2015, construction starts on multifamily structures with five or more units increased to 372,000, up more than 12% from December 2014, and 24.5% higher than 12 months ago, even as rental vacancies remained at their lowest level in more than two decades.

Read more...Apartment Construction Boom Could Extend Well Into 2016 - CoStar Group

Affordable Multifamily Supply is Squeezed by Development in the Conventional Market via Property Management Insider

As fundamentals remain strong in the U.S. apartment market, developers continue to ramp up construction of conventional properties. But his building spree could be having an inadvertent effect on the affordable housing sector – and not in a way that results in additional affordable units. Instead, the historically high levels of conventional apartment construction have driven up development costs. And that could further squeeze affordable development, as funding for affordable apartments is not rising to offset the higher price tag to build. All the while, demand for affordable supply continues to be high, as wage growth is limited and the number of renting households grows.

Read more...Affordable Multifamily Supply is Squeezed by Development in the Conventional Market | Property Management Insider

D-FW apartment residents are paying more than ever for rent via Dallas Morning News

Dallas-Fort Worth apartment renters just can’t catch a break.

In January average rents in the area jumped by more than 5 percent from a year ago, according to a new report from Axiometrics Inc.

The rent hikes in the Fort Worth area were even larger – up 6.4 percent on an annualized basis.

“What’s amazing about these figures is that they’re occurring with a continued stream of new supply,” Stephanie McCleskey, Axiometrics vice president of research, said in a new report. “These numbers speak to the continued strong job growth throughout the Dallas-Fort Worth metro.”

Read more...D-FW apartment residents are paying more than ever for rent | Dallas Morning News

Apt. Gains Continue into 2015 via GlobeSt.com

January’s numbers for the apartment market nationally were the strongest for the month since the recession ended, Axiometrics said Tuesday. The month yielded annual effective rent growth of 4.9% and occupancy of 94.6%. By comparison, last January’s annual effective rent growth for multifamily was 202 basis points lower at 2.9%.

“We expected rent growth to moderate in 2015 after the spectacular growth of 2014,” says Stephanie McCleskey, VP of research at Dallas-based Axiometrics. Yet January’s results speak to “an apartment market that is continuing the strength” of the past 12 months.

Read more...Apt. Gains Continue into 2015 - Daily News Article - GlobeSt.com

O'Connor: Houston apartment overview Feb. 2015 via Real Estate Center at Texas A&M

O'Connor and Associates submarket apartment data for February 2015 are available. Below is a chart of the eight submarkets with the highest number of units in the region.

Read more...O'Connor: Houston apartment overview Feb. 2015 via Real Estate Center at Texas A&M