CHICAGO — Data Shows City’s Labor Market Stabilizing - Federal Reserve Bank of Chicago President Austan Goolsbee said the latest jobs report suggests the labor market is stabilizing at full employment and is not a sign of an...more
With the New Year under way, we wanted to provide updates on legislative activity and other developments affecting multifamily properties in the region and across the country, including Maryland Building Energy Performance...more
With another interest rate cut, the capital markets appear to be more promising for real estate transactions; time will tell how this month’s elections will impact the real estate industry. ...more
With Election Day fast approaching, market indicators appear more promising, notwithstanding regulatory hurdles. As a follow-up to our most recent Alert, below are some updates on recent multifamily legislative and legal...more
On the multifamily front, transactions are picking up. The benefits of the interest rate cut by the Fed are offset somewhat by the increasingly complex legal and regulatory environment impacting multifamily properties,...more
This fall, California voters will decide whether the state should continue prohibiting cities and counties from enacting or expanding rent control. If they vote “yes” in November, San Francisco could be ready to extend the...more
As summer 2024 winds down, the implementation of new rent control laws has attracted much attention. Providing some respite from the summer’s rent control heat is a recent win for the multifamily industry coming from the...more
The City of Rockville and Montgomery County are addressing affordable housing with differing approaches. Both jurisdictions took action on rent control this summer, with plans for future legislation or applicable regulations...more
Our country continues to experience economic conditions triggered by a worldwide pandemic and subsequent inflation. These conditions have mostly been outside of anyone’s control. Yet, when government officials see their...more
Rent control continues to be headline news, with local legislation being enacted and national legislation being proposed. The rent control law in Prince George’s County was enacted yesterday and it appears that the rent...more
On July 16, President Biden called on Congress to enact legislation to temporarily cap annual residential rent increases. Under the proposal, rental property owners with over 50 residential units in their portfolio would not...more
Rent control laws continue to evolve in Montgomery and Prince George’s Counties. The rent control law enacted last year in Montgomery County will become effective once regulations are adopted. Our recent Alert discussed these...more
On Friday, June 14, 2024, the Montgomery County Department of Housing and Community Affairs (DHCA) delivered proposed regulations to the Montgomery County Council (Council) for review and consideration. The proposed...more
The Connecticut General Assembly recently passed a bill requiring municipalities to assess properties used solely for low and moderate-income housing based on the capitalized value of their net rental income....more
Our prior Alert discussed the Prince George’s County temporary extension of rent control, Montgomery County rent control updates and the much-anticipated rent control regulations, rental license fee increases, new housing...more
We continue to track important legislative and regulatory proposals and changes in the region. Our most recent prior Alert discussed rent control efforts in Maryland, changes to the Low Income Housing Tax Credit program,...more
In 2023, Providence had the largest year over year residential rent increase compared to every other major U.S. city. Rising rental rates are not isolated to the Ocean State. Median residential rent prices increased in cities...more
There have been a number of new regulatory developments since our prior Alert, including updates on Prince George’s County rent control, Montgomery County tenant protections, Montgomery County Right of First Refusal (ROFR)...more
On February 20, the US Supreme Court declined to hear challenges brought by rental unit owners to recent changes made to New York City’s Rent Stabilization Laws. Since these changes went into effect in 2019, news outlets have...more
Our recent Alert focused on the D.C. Housing in Downtown program, the Montgomery County Right of First Refusal legislation, rent control in Montgomery and Prince George’s Counties, the SCOTUS rent control challenge denial,...more
Senate Bill (SB) 1227, introduced by Senator Scott Wiener on February 15, 2024, would help speed the recovery of downtown San Francisco by creating a new CEQA exemption for qualifying commercial, institutional, student...more
Our recent Alert included details and updates on new Montgomery County rent control regulations, an expanded right of first refusal (ROFR) process, and our related advocacy efforts....more
The Florida Legislature continues to modify the proposed changes to the Live Local Act (Act) through the latest version of Senate Bill 328 (SB 328), passed on February 7, 2024. For background on the original Act, see “Live...more
As noted in our prior Alert, the Montgomery County Department of Housing and Community Affairs (DHCA) published draft regulations on February 1 to implement the County’s new rent control law. By its terms, the rent control...more
If you have been following our recent Alerts, you are aware that the multifamily industry has been subject to a series of chilling legislative actions and proposals. Today’s Alert focuses on two very recent high-profile...more