@stanveuger Nice article. Delinquency issues not limited to lihtc properties in DC. Have seen plenty of <10yo market rate class a/b buildings with sub 70% economic occupancy. Toured a building a few weeks ago where 2/3 of tenants are delinquent
@RealAssetsValue In a place like sf yeah sure, bunch of people are getting rich. Some other markets also dynamic. But in more stagnant markets what’s gonna generate the wage and job growth that acts as a tailwind to rent growth? Gotta pick your spots and assets wisely these days
@RealAssetsValue I’m also skeptical in broad based super charged growth. Consumers were broadly beat up during the gfc and there were a whole lot of people experiencing income growth coming out of it. The consumer is not as beat up now and outlook for broad wage gains etc not super bright imo
@gkamstra Apparently I had just gone to the wrong in-town gas station when on a site tour. By my house in Baltimore we are $4.25-50 for regular and pushing 5 on 93
Old firm did a student housing deal with Harrison street where they bought something on the literal wrong side of the tracks and built a bridge over said train tracks to add value (by shortening distance to campus) $study