Updates on the housing conferences we attended this fall: OFN, NCSHA, SCANPH, and AHFLive 2022
We've been busy attending multiple housing conferences this fall. Were you not able to attend these? Don't worry, take a look at this brief update on our main takeaways from these conferences.
Builders Patch • November 3, 2022
In Dublin, It’s Elon Musk Versus the Housing Market
At Twitter’s European headquarters, surviving employees have one big problem with Elon Musk’s demand that everyone must return to the office: finding somewhere to live. Dublin, the Irish capital where the tech firm has an office that had about 500 employees, is in the midst of a housing crisis driven by chronic undersupply of new homes and a mass exodus of private landlords. Prices recently topped the peak they reached in 2007, shortly before an economic crash that almost bankrupted the nation.
Bloomberg • November 20, 2022
$2 Billion Development in Queens to Be Approved Amid Housing Crisis
The New York City Council approved another major housing development this past Tuesday. The project, a massive $2 billion development known as Innovation Queens, will span five city blocks and add more than 3,000 homes in Astoria. It is yet another sign that elected officials are increasingly willing to work with the real estate industry to address the city’s urgent housing crisis.
The New York Times • November 22, 2022
NAHB: Multifamily Confidence Significantly Declines in Q3
“Multifamily developers are becoming cautious, as supply constraints have caused a large backlog of projects started but not yet completed to accumulate in the pipeline,” said NAHB chief economist Rob Dietz. The potential for continued high levels of multifamily development and high occupancy rates declined in the third quarter, according to the National Association of Home Builders’ (NAHB’s) Multifamily Market Survey.
Multifamily Executive • November 18, 2022