HFO Multifamily Marketwatch for Oregon and SW Washington

In this episode: Washington State rent growth trends, the question of whether Seattle's new energy codes are leading to a drop in permit applications, and renters rights groups rattling city councils in Seattle and Tacoma.

This Week:

• Housing production slows in West Coast cities; What's happening in PDX? • Bend vacancy rate may be on the rise • Update on the Q2 Multifamily Market

HFO's podcasts are sponsored J.R. Johnson, specialists in multifamily restoration and repair, and by Gantry Inc., the country's largest independent mortgage banking firm focused exclusively on commercial real estate.

In this podcast episode, we cover significant developments affecting the multifamily housing sector in Washington State: (1) The Federal Housing Administration's raising the threshold for large multifamily loans, potentially expanding property eligibility for standard underwriting. (2) Despite concerns about a hard landing, demand for apartments remained strong, and the state is making a historic investment in affordable housing projects. (3) Although still alive, Seattle's proposed rent control bill faces challenges. PLUS! We also cover the affluent renter demographic in Seattle and slowing apartment production.

Stay tuned next month for expert insights on state eviction processes and security deposits.

This Week:

• Oregon Senate Bill 611: New restrictions on rent increases
• Multifamily forecast for the rest of 2023
• Portland apartment construction surges, but the rebound may be brief

HFO's podcasts are sponsored J.R. Johnson, specialists in multifamily restoration and repair, and by Gantry Inc., the country's largest independent mortgage banking firm focused exclusively on commercial real estate.

This week: Eviction moratoria continue expiring, relieving distraught landlords; national rental rates remain flat, and The Urbanist asks: How many new homes could be created with denser housing limits near transit? The answer may surprise you.

This week: The Runaway Cost of Portland's Affordable Housing, Multi-Family insurance costs rising, and Should you allow Airbnb rentals at your property?

Among this week's stories: Seattle City Council member Alex Pederson proposes adding $5-8k per unit in housing impact fees, estimating the fees will raise $200-$760 million in the next 10 years for infrastructure.

Reports on CMBS loan delinquencies, rising national insurance rates, and the latest land sale demonstrating that developers are bullish on Bellevue.

This week:

• Discussing Multifamily housing occupancy in Portland
• $1 trillion-plus of multifamily debt will mature by 2027
• Multifamily sales drop 74% YOY

HFO's podcasts are sponsored J.R. Johnson, specialists in multifamily restoration and repair, and by Gantry Inc, the country's largest independent mortgage banking firm focused exclusively on commercial real estate.

Seattle is #1 in the US for population growth, and tech jobs are growing as well, focusing on A.I. and Blockchain; the state building code council delays new rules banning natural gas for heat in new commercial and residential construction.