In Case You Missed It: Week Ending Jan. 20

U.S. economy expands; foreign money looks to apartments outside of gateway markets; rent growth shows the strongest year-over-year gain since 2007; and more in this week’s ALEX Chatter multifamily news roundup.

Federal Reserve: Economy Expands While CRE Remains Stable

Mortgage Bankers Association – Jan. 19
“The U.S. economy expanded “modestly” between mid-November and early January, while commercial real estate activity remained stable, the Federal Reserve Beige Book reported yesterday.”

Rent in December Soars to Highest Growth Since Start of Recession

MarketWatch – Jan. 18
“Rents rose 4% compared to a year ago in December, the Labor Department said Wednesday. That’s the strongest yearly gain since December 2007, the month the Great Recession began.”

Foreign Money Looks Beyond Gateway Cities for Apartment Assets

National Real Estate Investor – Jan. 17
“Foreigners looking for U.S. assets once invested overwhelmingly in trophy properties like office towers in gateway cities. In recent years, however, the apartment sector became more favored.”

Strong but Cautious Growth to Prevail in 2017 Amid New Uncertainties
Commercial Property Executive – Jan. 17
“Despite the jitters, the U.S. economy and real estate market continued to grow and strengthen, as they have since coming out of the Great Recession, and that will likely be the case again in 2017. But with the U.S. entering its eighth year of this recovery, how much longer can the good times roll?”

Yardi Predicts Strong Fundamentals, Uncertain Policy for 2017
Multifamily Executive – Jan. 17
“The strong growth trends in multifamily rents and property values in the past few years point to continuing positive fundamentals in 2017 for most metros, according to the winter 2017 edition of the Yardi Matrix U.S. Multifamily Outlook.”