True Stories: Hybrid, eNote and RON Implementation

Join expert panelists that will discuss the status of federal legislation, trends in digital adoption and how best to prepare your organization for the next generation of lending processes.

Logan Mohtashami talks jobs report, mortgage forbearance

Lead Analyst Logan Mohtashami discusses his recent article on the latest jobs report and the most likely impact on the housing market and mortgage forbearance.

UWM has a plan to win a war of mortgage attrition

UWM's margins will fall all the way down to 75 to 110 bps. Mat Ishbia says it's the perfect environment to prove that his mortgage firm is truly elite.

Lunch & Learn about underserved markets and affordable housing

Experts in this discussion will focus on how the mortgage industry is working to right previous wrongs and champion a housing market that serves all.

Real Estate

RealPage: These cities have the most Opportunity Zones

The most are located in New York

Opportunity Zones have been the talk of the real estate investor community for the better part of the last year, but given that the program is still so new, there's still lot of unknown about Opportunity Zones.

Created by the Tax Cut and Jobs Act of 2017, Opportunity Zones seek to spark economic development in distressed areas by encouraging long-term investments through significant tax breaks.

The image below highlights the top markets with the most opportunity zones: 

apartment market OZ'S

(Image courtesy of RealPage; click to enlarge)

Unsurprisingly, a new report from RealPage shows that the markets with the most Opportunity Zones are large cities.

New York has the most Opportunity Zones, according to RealPage's study, with a whopping 403 Opportunity Zones. Of those, 124 are in Brooklyn alone. 

The Manhattan borough has the lowest concentration of Opportunity Zones, RealPage said, but there is no shortage of them in the Bronx or Queens, either. All five boroughs, Brooklyn, Bronx, Queens, Manhattan and Staten Island, have the most Opportunity Zones in the state. 

New York’s neighbor, Newark, New Jersey, ranked No. 7.

Phoenix, ranked No. 10, recently began building much needed three multi-family Opportunity Zones in its downtown area.

On the opposite coast, No. 2 Los Angeles has 274 Opportunity Zones, and No. 3 Chicago is next with 226 Opportunity Zones. 

In Los Angeles, South Los Angeles is the home of the most Opportunity Zones. Mid-Wilshire, Hollywood, and Downtown Los Angeles have a combined 58 Opportunity Zones alone. 

Los Angeles’ urban core is in the middle of an apartment boom. Since 2015, the urban core has made up for an average of 55% of the market’s total apartment construction volume, RealPage said. From 2011 to 2015, urban construction accounted for 42% of the market total.

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