Property Management News
The Federal Housing Finance Agency (FHFA) set its 2024 combined volume cap for Fannie Mae and Freddie Mac loan purchases at $140 billion, about a 7% decrease from 2023. Workforce housing loans will be exempt from its 2024 volume caps. FHFA’s mission-driven lending program will remain a priority to encourage more affordable housing development next year. FHFA Loan Caps for 2024 Contract with Headwinds Expected The Federal Housing Finance Agency (FHFA) announced a $10 billion rollback of Fannie Mae and Freddie Mac’s volume cap for loan purchases for 2023 to $140 billion ($70 billion for each agency). This move aligns with industry expectations, given the anticipation of continued... Read more
Fannie Mae has launched a new financing program to support the creation and preservation of workforce housing for middle-income renters. The agency created the new...
New York’s rent stabilization laws, amended in 2019, are arguably the most stringent in the country. Challenges to New York’s rent regulations are not new, and come...
City council votes to cap rent hikes at 6% The details: The proposal will allow rent hikes of 4% beginning on Feb. 1, 2024, with an additional 2% increase permissible...
Governor Newsom recently approved multiple state housing bills passed by the State Assembly and Senate. The following is a summary of a few of the key bills that are...
New York City has lost more than 100,000 homes since 1950 to conversion projects. Small multifamily homes have historically provided inexpensive housing for renters and buyers, but developers have converted many of them in recent decades into larger, single-family units. This has worsened the affordable housing crisis, say researchers. These buildings, commonly called “triple-deckers, two-flats, or brownstones,” provide historical context and add character to urban neighborhoods along with affordability. Nationwide, low-cost rentals have vanished by more than half a million units per year between 2014 and 2018, according to a report from the Harvard Joint Center for Housing Studies... Read more
Los Angeles County supervisors voted Tuesday to extend — and slightly increase to 4% — a soon-to-expire cap on rent increases, sparing tenants in unincorporated...
The Department of Housing and Urban Development said that fair market rents for fiscal year 2024 will rise about 12 % nationwide and that it has increased funding for...
Renters in California will no longer be asked for a security deposit larger than one month’s rent, under a bill signed into law by Gov. Gavin Newsom. On...
Construction of low-density housing like duplexes hovers near record lows, as states pass zoning reform to tackle the affordable housing crisis. More small multifamily...
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