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Showing posts from February, 2018

Column: Michigan’s Aomeback Accelerating

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Column: Michigan’s Comeback AcceleratingSource: The Detroit News
Timothy Nash, Keith Pretty, Rich Studley and Bob Thomas 
Published 10:40 p.m. ET Nov. 25, 2017

The 2017 Michigan Economic Competitiveness Study was recently released by the Michigan Chamber of Commerce Foundation and Northwood University. The sixth annual study confirms that Michigan is making great progress at the state level since the Great Recession ended in 2009.

The first decade of the 21st century has been referred to as “Michigan’s Lost Decade,” in which Michigan’s economy was ranked at or near the bottom in key economic categories ranging from gross domestic product and wage growth to tax policy and job growth.

In fact, Michigan’s economy was the only one to have actual population loss from 2000-10 according to the U.S. Census Bureau.

Michigan’s population declined 0.6 percent, losing a net 54,804 people while the United States population increased 9.7 percent with the other 49 states adding more than 26 million …

Rewriting The Narrative On Apartment Demand And Oversupply

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Rewriting The Narrative On Apartment Demand And OversupplySource: Globe Street Article
June 13, 2017 | 
By Erika Morphy

WASHINGTON, DC–We can scrap the talk of the apartment market becoming over-saturated — at least in the long term. A new report has determined that the US will need to build more than 4.6 million new apartment homes across a range of price points by 2030. This is according to research from Hoyt Advisory Services, which was commissioned by the National Multifamily Housing Council and theNational Apartment Association.

As for the market becoming over-saturated in the immediate term, we can nix talk about that as well, per the report. It has found that currently nearly 39 million people live in apartments, and the apartment industry is quickly exceeding capacity. In fact we can rewrite the entire narrative that the multifamily sector is in danger of being overbuilt. The research has found that it will take building an average of at least 325,000 new apartment homes every y…

Investors Pile Into Suburban Rental Housing

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Investors Pile Into Suburban Rental Housing Source: Wall Street Journal
By Keiko Morris 
Dec. 26, 2017 7:00 a.m. ET

Institutional investors such as pension funds and insurance companies are on the hunt for higher yields in the suburbs. Now that the urban luxury-apartment boom is winding down, some big investors are fanning out to the suburbs. As institutional investors such as pension funds and insurance companies hunt for higher yields, they have been scouring the older and less glamorous suburban rental buildings that ring metropolitan central business districts, real-estate executives and analysts said. Part of the reason: Swelling supplies of new luxury apartments in urban areas are driving rents lower for high-end city apartments. “About two years ago was the inflection point where we began to see the impact of having a lot of new product in the urban areas, and we also began to see the beginning of some softness,” said Jeanette Rice, Americas head of multifamily research …