Naqa Capital Management
Shopping Basket
Your Basket is Empty
Quantity:
Subtotal
Taxes
Delivery
Total
There was an error with PayPalClick here to try again

Capital Formation and Capital Placement
Capital Formation and Capital Placement
My Blog
Blog
Can Apt. Supply Meet the Coming Demand?
Posted on 3 April, 2016 at 2:49 |
CAMBRIDGE,
MA—Harvard’s latest study of rental housing underpinned an open letter
from Lloyd Jones Capital’s Chris Finlay, while Clyde Holland testified
before Congress last week. All cited the growing gap between affordable
supply and renter demand. CAMBRIDGE,
MA—Harvard University’s annual study of rental housing was on the
industry’s radar again this past week, as Lloyd Jones Capital CEO Chris
Finlay sent out an open letter via email, summarizing his impressions of
the study. Originally published this past December, the study from
Harvard’s Joint Center for Housing Studies notes that renter households
now number nearly 43 million out of 116 million US households.“Renters
now represent 37% of all households, the highest number since the
mid-1960s,” Finlay writes. “That’s a lot of renters, and they need
decent housing.”Whether the supply of decent housing will be
there to meet the demand is another matter. “Rising demand has put
upward pressure on rents and reduced vacancies; meanwhile, new additions
to the rental market have primarily added units with above-median
rents,” according to the Harvard study. “While the supply of rental
housing has increased, primarily through conversion of formerly
owner-occupied units and, to a lesser extent, new construction, rental
demand has increased even faster.”In testimony before the House
Committee on Financial Services Housing and Insurance Subcommittee,
Clyde Holland, chairman and CEO of Holland Partner Group, outlined some
reasons for what he called the growing affordability problem in rental
housing. “First, while the cost to develop and operate rental housing
increases every year, the median renter household income today is
virtually unchanged since 1981, on an inflation-adjusted basis,” said
Holland, testifying on behalf of the National Multifamily Housing
Council and the National Apartment Association.Secondly, Holland
pointed to the gap between the supply of rental apartments and the
demand. “Almost 75 million young adults are entering the housing market,
primarily as renters. At the same time, Baby Boomers and empty nesters
are trading single-family houses for rental apartments,” he testified.
“This combination of factors is forecast to lead to four million new
renter households over the next decade.”Just to keep pace with
the new demand, Holland told Congress, “Between 300,000 and 400,000
apartments must be constructed annually…Yet, on average, just 208,000
apartments were delivered in the four-year period from 2011 to 2015,”
although MPF Research reported last week that the 12-month tally for
last year was slightly higher at 226,790 completed units.And
finally, Holland noted that the development of new apartment homes is
exceptionally difficult, especially in those markets where apartment
needs are strongest. “Even in communities that want and desperately need
new multifamily development, there are numerous hurdles that must be
overcome, including entitlement expenditures, zoning rules,
environmental site assessments, impact fees, mandates like inclusionary
zoning or rent control, labor expenses and building code requirements,”
he said.Holland said that policymakers must recognize that
addressing local workforce housing needs requires a partnership between
government and the private sector. He proposed that local governments
defer taxes and other fees for a set period of time, along with
leveraging their tangible assets like buildings, raw land and entitled
parcels.In his open letter, Finlay offered further thoughts on
addressing the supply-demand imbalance. He noted that the Low Income
Housing Tax Credit program has added or preserved more than 2.2 million
units since it began in 1986, although bureaucracy has inflated the
costs of development to the point where they can exceed those of market
rate properties.“There are a lot of programs for the very poor,”
wrote Finlay. “But what about the American workforce that also struggles
to find affordable housing? These households don’t have all the
assistance that is available to the very low-income households. If you
took all the money poured into various programs, including LIHTC, and
applied it directly to vouchers, I suspect households would be moving
out of bad neighborhoods and into safer communities.” Paul Bubny › Paul Bubny is managing editor of Real
Estate Forum and GlobeSt.com. He has been reporting on business since
1988 and on commercial real estate since 2007. He is based at ALM Real
Estate Media Group's offices in New York City. |
Categories: Help Articles
Post a Comment
Oops!
The words you entered did not match the given text. Please try again.
910 Comments
Loading...

Reply
essay writing services
8:45 on 14 November, 2017
The supply as well as by the meeting of the following thing that may involve by the time. There are some of the better things by the time as well as it also may involve by the concern as well as make the thing more over the time better.

Reply
uk
4:58 on 19 January, 2018
Till now, we are not straightforwardly into the advancement of windows telephone applications however we have given our administrations to the outsourced ventures identified with windows telephones.

Reply
https://app.simplenote.com/publish/gjjWXH
19:25 on 21 June, 2018
Excellent website you have here: so much cool information!..

Reply
write my paper for me
8:34 on 2 July, 2018
There are some financing companies which are providing loan to setup financial situations. We can get mortgage debt also from financing companies and can deal with real estate transactions with companies. We can take debt with reasonable rate of interest.

Reply
storspelare
10:50 on 9 July, 2018
very interesting post.this is my first time visit here.i found so mmany interesting stuff in your blog especially its discussion..thanks for the post!

Reply
https://tonneau.page.tl/
7:31 on 17 July, 2018
This is very educational content and written well for a change. It's nice to see that some people still understand how to write a quality post!

Reply
Nightclubs London
14:43 on 27 July, 2018
I read a article under the same title some time ago, but this articles quality is much, much better. How you do this..

Reply
vancha
1:33 on 19 November, 2018
Your blog is really a good platform to get informative posts. It is really a helpful platform.
barbie game babysitter
barbie game babysitter

Reply
davidjackson
11:36 on 3 December, 2018
So glad to visit this website. Very interesting information you share in this post about the capital management. All the discussion you share in this is very informative and useful. I surely visit this website again to read other blogs. Keep it up and keep sharing.
gym mats
gym mats

Reply
Jack
11:49 on 3 December, 2018
Can apt supply meet the coming demand for the everyone visitor. Some people visited to here in the blog review is very good. now best playground tiles sale online in UK

Reply
Dinado
1:45 on 8 December, 2018
That's reall an amazing post. Thanks for letting us know about it.
funny games app
funny games app

Reply
Heather Garrick
12:33 on 24 December, 2018
kumpulbagi free download tunngle latest version supersu for android

Reply
2 player basketball games
10:23 on 10 January, 2019
Your blog is really a good platform to get informative posts. It is really a helpful platform.

Reply
I Need Help With My Home Work
12:29 on 15 February, 2019
[]
[/]
You know I was looking forward to read this type of points as mentioned above. I guess that they having fun to read this post,they shall take a good site to make a information thanks for sharing it to me. You all do an incredible blog, and have some extraordinary substance. Keep doing awesome.
[/]
You know I was looking forward to read this type of points as mentioned above. I guess that they having fun to read this post,they shall take a good site to make a information thanks for sharing it to me. You all do an incredible blog, and have some extraordinary substance. Keep doing awesome.

Reply
Jhon Smith
9:21 on 28 March, 2019
Very effective article here. I read this article in detail all the other article of this blog is very appreciatable. Thanks. Now get long lasting heavy duty shelving

Reply
David john
11:42 on 28 March, 2019
Your blog is really cool and great.its really cool and great.your blog is really cool and amazing.thanks for sharing the nice and cool blog.
click here
click here

Reply
Darren Bravo
12:20 on 28 March, 2019
Thankful such an awesome sum for sharing this glorious information! I am envisioning see more posts by you. I like visiting you site since I always come across interesting articles like this one. Great Job, I greatly appreciate that. Do keep sharing! shop roofing rubber online

Reply
John david
5:48 on 29 March, 2019
I really appreciate your blog its really cool and great.your blog is really great and cool .your blog is awesome. your blog is great.thanks for sharing the nice and cool post.
Playground tiles available in uk
Playground tiles available in uk

Reply
Ben Stoke
6:57 on 29 March, 2019
All the posts of this blog is fantastic. I really like it. I would like to bookmark your blog for next updates. Thank you very much for sharing this type of stuff. buy playground tiles from here
/
Oops!
Oops, you forgot something.