Industry News

National Apartment Rent Growth Remains Strong

CoStar, June 5, 2018. “Orlando, Las Vegas and Jacksonville led the nation in rent growth over the past year. All three markets topped 5.5 percent annual rent growth between May of 2017 and May of 2018, with Orlando posting an eye-popping 6.3 percent growth. Other top markets for rent growth include Sacramento, Phoenix and Tampa.”

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More Renters Give Up on Buying a Home

WSJ, April 3, 2018. “A growing percentage of apartment renters aren’t interested in buying a home as affordability challenges take a bigger toll on American aspirations of homeownership.'”

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The Next Housing Crisis: A Historic Shortage of New Homes

WSJ, March 18, 2018. “Fewer new houses are being built in America than at almost any time before. ‘We didn’t get in this situation overnight, and it could take years to get out.'”

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Congress Passes Tax Reform

NMHC, December 20, 2017. “Although every piece of complex legislation includes positive and negative provisions, NMHC/NAA believe the Tax Cuts and Jobs Act largely reflects the industry’s priorities and keeps intact the critical elements of the multifamily business model.”

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Baby boomers, like millennials, are flocking to rentals offering a ‘hands-free’ lifestyle.

CNBC, November 25, 2017. “Like millennials, many boomers want amenity-rich apartments in good neighborhoods as they downsize from bigger houses. “.

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Long-Term Outlook for Rental Apartments Remains Positive

NREI, August 24, 2017. “Strong demand will continue over the next decade, according to a NMHC/NAA report.”.

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Elevated Demand for Apts. Expected to Remain Due to Household Formation and Lack of Affordable Housing Options

CoStar, June 22,2017. “Separate studies issued this week share the same conclusion that demand for rental apartments and other housing options will stay at elevated levels”.

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Multifamily: It’s All About the Fundamentals

Freddie Mac, May 09,2017. Despite recent reports about softness in a few very high-cost markets, multifamily continues to be robust, as indicated by steadily rising rents in most markets.

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Jed B. Millburn named a finalist in the 2017 Entrepreneur Of The Year® program!

Jed B. Millburn, Founding Principal and CEO of Millburn & Company, was recently announced as a finalist in the Entrepreneur Of The Year 2017 Utah Region Awards program.

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2017 Forecast: Rent Growth to Match Long-Term Average Performance will Strengthen in 2018 and 2019

Axiometrics, April 7, 2017. The latest forecast estimates average rent growth of 2.3% this year, equaling the average rate from 1995-2016 and actually 10 basis points (bps) higher than the previous forecast’s estimate. .

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