Multifamily investment market is getting tougher still

Freddie Mac's Apartment Investment Index took a tumble thanks to rising property prices, interest rates
The Freddie Mac Apartment Investment Market Index fell 3.4% year-over-year in the first quarter, despite strong fundamentals. The index tracks 13 markets across the nation, aggregating employment data, permitting data net, operating income data and property price data to come up with a score that captures the investment climate in the multifamily market.
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From obsolete to absolutely: Old office buildings get new lease on life as multifamily buildings

According to Newmark Knight Frank, 8% of the office inventory is obsolete; adaptive-reuse could be the answer to declining ROI
Property owners of old or obsolete office buildings are turning their obsolescence blues into multifamily gold. According to a study by Newmark Knight Frank, 8% of the nation’s office inventory is obsolete, meaning building owners need to find new ways to make money off of their spaces.
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Zillow expanding direct homebuyer program to Atlanta

Home sellers in Atlanta will soon be able to sell directly to Zillow
Homeowners in Atlanta will soon have a new outlet when it comes time to sell their house – Zillow. Beginning in the fall of this year, Atlanta homeowners will be able to sell their home directly to Zillow, if they so choose. The move into Atlanta is an expansion of Zillow’s direct buying program, Zillow Offers, which the company launched earlier this year.
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Roofstock acquires single-family rental management platform

Roofstock buys Streetlane Homes to increase its property management capabilities
Roofstock is moving to expand its market share in the single-family rental realm. The company just acquired SFR management company Streetlane Homes with the goal of expanding into new markets with the acquisition and accessing more institutional investor clients.
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House passes massive bipartisan economic growth bill

Hensarling, Waters put forth bill made up of 32 pieces of legislation
The House of Representatives just passed a massive piece of bipartisan legislation that some are calling the “cherry on top” of President Donald Trump’s Dodd-Frank rollback. The bill, called the JOBS Act 3.0, is a massive bipartisan effort made up of 32 pieces of individual legislation, and passed the House with a margin of 406-4.
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WhyHotel adds Cathy Ross to board, expands in D.C.

The young multifamily hospitality pop-up is in full growth mode, adding locations and leaders to its roster
Symbiotic alternative lodging service WhyHotel added Exclusive Resorts CEO Cathy Ross to its board and is launching a new, 95-unit pilot site in the NoMa area of Washington, D.C. Recently, the young company received $3.94 million in seed funding which has allowed the company to set up new locations and build out its leadership team.
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Court of Appeals declares FHFA structure unconstitutional

Majority opinion finds GSE regulator violates separation of powers
For the third time in recent memory, a government agency borne out of the housing crisis has been declared unconstitutional by a federal court. The first two times it was the Consumer Financial Protection Bureau. But now, it’s the Federal Housing Finance Agency that has been found to be operating in violation of the Constitution.
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Growing number of Americans say now is a bad time to buy a home

Suggests lingering memories of the housing crash may slow home price growth
There’s been a distinct uptick over the past year in the number of Americans who say now is a bad time to buy a home, and a sizable number point to high home prices as the primary reason. But caution might be a good thing, according to one think tank, as it could serve as a necessary weight tempering housing demand.
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