5StatMonday

Get the quick weekly read from the 5Stat Monday team, with five (or so) interesting multifamily and capital market updates we discovered over the week.

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We must first win the war on COVID-19 before moving on to fix the economy.
Check out the entire article and subscribe at https://t.co/UMgUfP823D #5StatMonday #multifamily #realestate #business #finance #CRE #market #COVID19

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THE WAR ON COVID...

I’ve been thinking about the new normal with the coronavirus, and how our country has yet to slow the first wave of this virus.

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But there isn’t one single preventative action that can lower the risk enough to prevent transmission. It would be like fighting a war and only sending planes, but no troops, ships, support, intelligence, etc.

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The report also has a chart showing average rents as a ratio of the average tech salary, as well as a chart showing the top ten cities with the highest density of millennials.

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TECH TALENT REPORT…
Every year, CBRE releases a report called “Scoring Tech Talent”, which is a labor market report that helps you better understand what the trends are in tech talent, where they're located, where they're going to school.

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They represent a very small portion of the overall U.S. workforce (3.5%), but they're an extremely innovative and well-paid group that drives a lot of what's going on in our country. Many of them work across all industries

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De Beers said sales of rough diamonds were down by more than 95%. Yet their production only fell by 42% and 54%, respectively, which means there could be a glut of diamonds on the market…

Read more at https://t.co/UMgUfP823D #5StatMonday #realestate #multifamily #diamond

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LOVE (AND DIAMONDS) WILL HAVE TO WAIT…

We’ve all heard those anecdotal stories of couples (often posting on Instagram) and their delayed weddings. As it turns out, there are a lot of engagements on hold…

Check the entire article at https://t.co/UMgUfP823D #5StatMonday

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Alrosa said that sales of rough and polished diamonds plummeted by 89% compared with a year earlier…

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The data is collected by Zumper from over 1 million active listings, including from Multiple Listings Service (MLS), in the 100 largest markets…

Check the entire article at https://t.co/UMgUfP823D #5StatMonday #realestate #multifamily #business #finance #rent #SF #NY

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RENTS RESPONDING QUICKLY TO COVID…

Data on asking rents shows that the most expensive cities, cities with large oil/gas concentrations, and college-focused cities are booking sharp year-over-year rent declines…

Check the entire article at https://t.co/UMgUfP823D #5StatMonday

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These rents are for apartments in apartment buildings, including new construction, but do not include rents of single-family houses, condos-for-rent, rooms, efficiency apartments, and apartments with three or more bedrooms…

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Interest rates are now lower than they were a year ago, and data has yet to show any marked changes in property incomes or values…

Check the entire article at https://t.co/UMgUfP823D #5StatMonday #realestate #multifamily #business
#mortgage #coronavirus #housing

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2019 LENDING STATS (FINALLY) RELEASED…

Mortgage originations of multifamily properties hit a record high in 2019, driven by a combination of strong fundamentals, rising property values, and low interest rates…

Check the entire article at https://t.co/UMgUfP823D #5StatMonday

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Prior to the coronavirus outbreak, MBA forecasted multifamily originations would jump 9% to $395 billion in 2020, beating 2019's record. The pandemic is likely to change that…