HFO Multifamily Marketwatch for Oregon and SW Washington

In this episode of the HFO Multifamily Marketwatch, HFO Investment Real Estate's Senior Research Analyst Mike Pierce analyzes Portland's rental market, discussing the slowdown in construction, the shift towards luxury inventory, and the resurgence of concessions. Delve into the pandemic's impact on renter preferences, Oregon's rent increase cap, and the structural shift in the market, as well as Portland's forecasted growth in employment, housing demand, and construction. HFO’s podcasts are sponsored by: Pacific Exteriors NW, apartment siding contractors specializing in multifamily, apartments, condos, residential, hotels, resorts, and commercial buildings, and Gantry Inc., the country’s largest independent mortgage banking firm focused exclusively on commercial real estate.

In this episode of the HFO Multifamily Marketwatch, HFO Investment Real Estate's Senior Research Analyst Mike Pierce discusses the housing shortage in Oregon and the potential of office-to-apartment conversions as a solution. Mike delves into the impact of the COVID-19 pandemic on the commercial real estate market, with a significant increase in remote work leading to a high rate of office vacancies, and specific efforts in Portland to support office-to-rental conversions. 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.

On this week's episode of Multifamily Marketwatch, Senior Research Analyst Mike Pierce dives into the innovative approach nonprofits and religious organizations are taking in addressing the housing crisis. Inspired by California's initiatives, these groups are converting their properties into low-income housing, bypassing expensive local permitting and environmental review processes. 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's topics include: 55 million vacant homes in the US; Governor Jay Inslee's eviction moratorium being upheld by the state Supreme Court, and Economist Matthew Gardner's predictions for Washington.

On this week's episode of Multifamily Marketwatch, Senior Research Analyst Mike Pierce delves into the intricacies of the state's housing shortage to help understand the ripple effects this crisis has on renters and the rising tide of homelessness. But with challenges come opportunities. We dig into and share our expert insights on potential solutions, drawing from our extensive experience in the multifamily investment sector. Whether you're an established investor or exploring the multifamily realm, equip yourself with the knowledge and foresight to thrive in Oregon's evolving real estate 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.

HFO founding partner Greg Frick welcomes Brad Kraus, a landlord-tenant lawyer, to discuss the state of Washington's landlord-tenant laws. Brad discusses eviction actions, security deposit obligations, and the impact of the CARES Act issue on Washington eviction notification.

This week, Mike Pierce, the Senior Research Analyst at HFO, provides an overview of the apartment market in Portland and Vancouver, including the widening gap between urban and suburban rental markets during the pandemic. 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.

HFO Director of Client Services Aaron Kirk Douglas welcomes Carl Whitaker, director of research and analysis at RealPage, Inc., to discuss the market Washington state multifamily market. Aaron and Carl delve into the impact of tech sector employment and AI hires on Seattle's rental market, the strong performance of suburban submarkets, increasing occupancy--despite slowed rent growth-- and the strength of the Spokane market.

In this episode, HFO Senior Research Analyst Mike Pierce discusses the challenges faced by downtown office building owners and landlords due to higher vacancies. The episode explores the idea of converting these vacant spaces into residential or mixed-use properties, and the value in keeping downtown office spaces as-is and encouraging professional services and businesses to lease them while repurposing older suburban office buildings for housing. We also explore the different investment behaviors of institutional and private investors in the real estate market, as well as the impact of pandemic-related migration on Multnomah County's income and tax revenue. 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 the latest HFO-TV episode, Aaron Kirk Douglas interviews market analyst Carl Whitaker from RealPage Inc. Whitaker shares insights into Portland's real estate market, noting a less pronounced seasonal rent swing and lower retention rates than other West Coast cities. Looking forward to 2023 and 2024, he predicts a slowing rent growth and potential challenges in the tech-driven economy, particularly in chip manufacturing. The episode also touches on the performance of smaller markets, such as Salem, Eugene, and Corvallis, highlighting their steady growth influenced by state-funded schools. 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 episode, Greg Frick, partner at HFO Investment Real Estate, welcomes Quinn Posner, founder and lawyer at Northwest Landlord Solutions, to discuss legislative changes in landlord-tenant law in Clark County and Washington. They cover the impact of COVID-19 on the industry, changes in eviction processes, rental assistance programs, the lack of state preemption leading to different rules in different areas, and the need for landlords to stay updated on the constant changes in landlord-tenant laws to avoid legal troubles.

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: 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.