Freddie Mac Multifamily

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Small properties are a critical source of affordable multifamily rentals. In this episode, Steve and Corey talk with Andrew Jakabovics, vice president for policy development at Enterprise Community Partners – a national nonprofit that focuses on housing affordability. Together they discuss challenges to preserving small multifamily units, their on-going affordability, market trends and research into this segment of the market.

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10,000. That’s the number of total listens to the Freddie Mac Multifamily podcast since we released our first episode in April 2019. We’re really grateful that so many of you have tuned into the show and for all the fantastic guests this past year. And as a way of saying “thank you,” we want to share some of our fun moments that didn’t make the cut.

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Times of distress, like we’re in now, highlight the importance of housing and community security. In this episode, Steve and Corey chat with Bobby Turner, founder of Turner Impact Capital – one of the nation’s leading voices in social impact investing. Together they discuss housing innovations and take a deep dive into the important topics of education and health care and their impact on housing affordability.

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Live from the Freddie Mac Multifamily Optigo 2019 conference! In this episode, Steve and Corey sit down with Brad Andrus, founding partner of Bridge Investment Group, and take an in-depth look at workforce housing beyond the financing. Bridge has been innovative in finding ways to preserve affordability without public subsidies in markets where preservation is needed most. Factors like social services, child care, on-site amenities and safe communities are also key considerations in their work.

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Since the Great Recession, renter income has grown at a faster pace than owner income and these higher-income households are driving rental demand. In this episode, Steve and Corey dig into the finer details of the rental housing market with Whitney Airgood-Obrycki, research associate at Harvard’s Joint Center for Housing Studies and lead author of the new report “America’s Rental Housing 2020.” Together they discuss rising cost burdens, suburban growth and many other rental trends.

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Housing contributes to about one-sixth of the U.S. economy through labor, construction, goods to furnish new units, as well as other indirect factors. Real estate is also a huge influencer of inflation, with the change in home prices accounting for about a third of U.S. inflation. Ultimately, the real estate market really impacts the average renter or homeowner, whether they know it or not. In this episode, Steve and Corey go macro and discuss the economy and how it ties in to the housing market with Sam Khater, chief economist at Freddie Mac.

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$364 billion – that’s the Mortgage Bankers Association’s (MBA) estimation of the size of the multifamily market in 2019. This projection is up 6% from 2018’s record $339 billion in volume. In this episode, Steve and Corey sit down with Jamie Woodwell, vice president in the Research and Economics Group at the MBA. Together, they look back on 2019, ahead to 2020 and speculate as to where a smaller business – such as Josiah Carberry’s shop – might seek capital in the current low interest rate environment.

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The millennial generation recently became the largest population cohort, surpassing the baby boomers. And the baby boomers now make up the largest seniors population cohort in US history. These two demographic changes have broad implications for both the housing market and the economy overall. In this podcast, Corey and Steve discuss these trends – as well as where the homeownership gap is most prevalent – with Jung Choi, research associate at the Urban Institute.

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Is housing affordability a supply problem or an income distribution problem? And how do housing trends vary by income level? In this podcast, Corey and Steve discuss the affordability crisis with Chris Herbert, managing director at the Joint Center for Housing Studies at Harvard University. Chris shares his extensive knowledge of the rental market and market trends, and together, the group covers a wide range of topics – supply, incomes, urban revitalization, suburban trends, generational changes and how the market is being driven by boomers and millennials.

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We’ve extensively covered affordable housing challenges in our podcast series by looking at the data and talking with researchers, lenders, local experts and government entities, but there is one critical behind-the-scenes resource that brings all of this together: the lawyer. In this episode, Steve and Corey are joined by Toger Swanson, partner at Kutak Rock LLP, a real estate and public finance law firm. Together they discuss challenges and recent initiatives to address affordability issues, all from a legal perspective.