Multi-Housing News - January 2009 - (Page 7)

market pulse Launching in March 2009 Commentary and Data Supplied by Dean Crist, Senior Economist, National Association of Home Builders A NEW FREE DIGITAL RESOURCE FOR THE GREEN BUILDING AND DESIGN INDUSTRY Multifamily Starts 400,000 350,000 300,000 Units 287,000 250,000 200,000 166,000 (preliminary) www.greenanddesign.com Jan. ’08 Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. 150,000 CPI vs. Rent 6.0% Percentage Change from January ’08 5.0% CPI 4.4% CPI 3.6% (preliminary) As green and sustainability move into the mainstream of today’s business thinking, we are proud to launch Green & Design, a new monthly digital magazine and web portal that draws on the editorial resources of our leading real estate and design brands. Whether you are a designer, building owner or service provider, Green & Design will equip you with the news, insight and tools you need to successfully and proﬁtably incorporate sustainable design into your projects. 4.0% Rent 3.9% 3.0% 2.0% Rent 1.0% (preliminary) Sign up today for your FREE digital subscription. Jan. ’08 Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. 1.0% Multifamily Starts: You have to go back to January 1994 to find 5+ multifamily starts numbers that are lower than those for November 2008. So the near-15-year boom cycle is clearly slamming to a halt—helped along by banks that are either refusing to make construction loans, calling loans on work in progress, or refusing to lend to consumers who want to buy condos…or all three. The problem with this scenario is that the pipeline for 5+ multifamily construction is quite long, and the industry may find itself with sharply restricted supply in three years. CPI vs. Rent: Preliminary numbers show that the overall Consumer Price Index is still dropping fairly significantly, at 3.6 percent. But rents are dropping much more slowly—just 1 percent. That would suggest that the current economic situation is less onerous for owners and managers of rentals—for the moment, at least. And if starts stay low in the near term, as it seems they will, buildings should remain fairly full, and rents should stay stable. To comment, contact Keat Foong at keat.foong@nielsen.com. SUBSCRIBE TODAY! www.greenanddesign.com/subscribe For more information and for advertising opportunities please contact your Nielsen Sales Executive or Patrick Brennan at patrick.brennan@nielsen.com MHN ONLINE For full series of charts and commentary, Condo Prices, Interest Rates and Building Materials Prices, go to www.multi-housingnews.com/marketdata www.multi-housingnews.com | January 2009 7 http://www.greenanddesign.com http://www.greenanddesign.com/subscribe http://www.multi-housingnews.com/marketdata http://www.multi-housingnews.com

Table of Contents for the Digital Edition of Multi-Housing News - January 2009

Multi-Housing News - January 2009
Contents
From the Editor
Market Pulse
Executive Insight
Economic Forecast 2009: The Year Ahead
Apartment Market Outlook
Development & Design: Walkable Neighborhoods
Property Management: Handling Risk in a New Age
Directory: Top Brokers
Kitchen & Bath: Rehabs
Products: Noise Control
Technology: Property Management Software
Property Showcase: St. Regis, Bal Harbour

Multi-Housing News - January 2009