You can’t root for lower housing prices AND be anti-developer

Fed holds rates steady. Maintained inflation forecast of 2.4% by year-end CBRE expects that the central bank will make the first quarter-point rate cut in June

For the first time in CBRE survey history Multifamily was voted the most preferred sector in all three main global markets Industrial and logistics was second

Happy Friday!

2024 AMI’s are out. Some highlights in SoCal: -The Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area experienced 17.6% growth in 2024 which was in excess of HUD’s 10% cap. The remaining 7.6% can be carried forward into 2025 as embedded growth. -The San Diego-Carlsbad, CA

Likelihood of fed rate cut by June went from nearly 100% to 18% Reminder to not play macroeconomist

Hearing the idea tossed around about a central database to help stop non-payment of rent. As cash for keys continues to be easier for owners, it perpetuates the cycle as residences move and continue nonpayment. I think the idea of a central database could gain a lot of traction

LIHTC rent growth has outperformed B/C Market rents and are cumulatively 10% higher since the GFC

Great hearing about this project this morning from Justin Stewart at BisNow LA Affordable Housing Conference Building this type of product for this cost is extremely difficult in this environment. Special project in the city where I’m from. Well done

I’m running the LA Marathon on Sunday, March 16th with Team United Way LA. As someone who has spent their career in affordable housing, I’m passionate about their mission to break cycles of homelessness, and aid wildfire recovery. Anything helps! lnkd.in/gbMjX3_A

The rumor that the city of Los Angeles has an endless amount of Section 8 Vouchers is untrue. According to HACLA, there is 200 unhoused voucher holders in the entire city of LA.