Multifamily
HUD Secretary Carson Updates NAHB Members on COVID-19 Housing Response
In an exclusive webinar for NAHB members, U.S. Housing and Urban Development Secretary Ben Carson and Federal Housing Commissioner Brian Montgomery today outlined specific measures the agency has implemented to battle the COVID-19 pandemic and lauded the efforts of NAHB during this outbreak.
Multifamily: Coronavirus Affecting Rent Collection, Plan Reviews
An online survey conducted by NAHB between April 3 and April 9 reveals that 90% of multifamily developers said the coronavirus has had an adverse effect on how long it takes to obtain a plan review for a typical multifamily building, and 88% said it has had an adverse effect on timely collection of rent payments.
HUD Issues Guidance on Multifamily Mortgage Forbearance Under the CARES Act
HUD has released two letters to provide guidance to borrowers and lenders during the COVID-19 pandemic. The first letter provides guidance for implementing the CARES Act multifamily mortgage forbearance provisions for FHA-insured multifamily loans. The second letter is a separate guidance to mitigate risks for FHA insured Section 223(f) refinancing loans.
Further Relief Needed from COVID-19 for Renters and Housing Providers
In a letter addressed to leaders of Congress, NAHB and other real estate partners urged Congress to consider additional economic relief for housing providers, their employees and their residents.
Building 1,000 Homes Packs an Economic Punch
A new study from NAHB shows that housing stands poised to lead the economic rebound once social distancing and other virus mitigation efforts show success in containing the coronavirus pandemic.
DHS Designates Residential Construction as ‘Essential Infrastructure Business’
In a critical win for NAHB and the residential construction sector, the Department of Homeland Security (DHS) today designated construction of single-family and multifamily housing as an “Essential Infrastructure Business.”
Congress Approves $2.2 Trillion Economic Stimulus Package
Congress has approved a $2.2 trillion economic stimulus package in response to the coronavirus pandemic that has wreaked havoc on the U.S. economy. The CARES Act includes several provisions to help small businesses and those engaged in the residential construction sector.
4 Factors You Should Know When Marketing to Gen Z
Described as the “selfie generation,” Generation Z currently comprises 26% of the U.S. population. By 2020, Gen Zers will command nearly 40% of all consumer shopping and are primary drivers of their parents’ purchasing decisions. Here’s what you need to know to capture their attention.
Multifamily Owners, Renters to Receive FHFA Support
The Federal Housing Finance Agency announced today that Fannie Mae and Freddie Mac will offer multifamily property owners mortgage forbearance with the condition that they suspend all evictions for renters unable to pay rent due to the impact of coronavirus.
Learn About Income Limits and Utility Allowance Changes in LIHTC Housing
There have been significant changes to the way the income of tenants is calculated for units using Low-Income Housing Tax Credits (LIHTC). In addition, formulas for utility allowances have changed. Many multifamily developers and managers need to be aware of these important changes.
