Leaders in New York’s State Senate are set to propose sweeping legislation to counter the growing housing crisis in the state of New York. The proposed legislation by leaders in New York’s State Senate aims to address the housing crisis through several key points:

​

• Creation of a new public benefit corporation to finance housing construction on state-owned land, inspired by the Mitchell-Lama program.
• Introduction of a new developer tax break with stronger affordability protections than the previous 421a program.
• Inclusion of "good cause eviction" legislation to restrict landlords' ability to evict tenants and justify rent hikes.
• Push for more construction of larger residential buildings in Manhattan and legalization of basement units.
• Requirement for condos and rentals built through the program to be affordable to middle-income households.

​

The proposal will be released as part of the One House budget bill, to incentivize significant new development while supporting landlords and tenants. However, its success hinges on gaining support from both houses of the Legislature and the governor, with details such as financial viability and inclusiveness of tenant protections remaining crucial factors.

​

Photo by Jan Folwarczny on Unsplash

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Veterans Affairs (VA) announced the allocation of over $14.5 million to public housing agencies (PHAs) nationwide to address veteran homelessness. An estimated distribution of more than 1,400 HUD-Veterans Affairs Supportive Housing (HUD-VASH) vouchers will be carried out nationwide. Some of the highest concentration of vouchers will go to Tucson, Arizona; Philadelphia; and Spokane, Washington. These vouchers combine rental assistance from HUD with support services, like case management and clinical services provided by VA. The vouchers have contributed to a 4% decrease in veteran homelessness since 2020 and has housed over 46,000 homeless veterans in 2023 alone.

​

Photo by Benjamin Faust on Unsplash

Homeownership among Black Americans has consistently trailed behind all others in the country, including by 28% compared to white homeowners. However, according to a new report by the National Association of Realtors (NAR), Black homeownership is expected rise in the future. 

​

How? As more Millennials and Gen Z enter into the home buying market, there will be a rise in minority owners. This is because on average, this demographic is more racially and ethnically diverse. 

​

Future predictions - 1.5 million Black households will turn the median homebuying age over the next 5 years. Female and millennial buyers have been driving growth in Black homeownership and will continue to do so. Besides Black households, 775,000 Asian households and 2.2 million Hispanic households will also turn the median homebuying age in the next 5 years.

​

Challenges remain - Barriers such as rental affordability, student debt, and mortgage denial rates persist, hindering Black Americans' ability to purchase homes and achieve equitable homeownership rates. Addressing these challenges will be crucial to fostering greater inclusivity in the housing market.

​

Photo by Tierra Mallorca on Unsplash

The United States is grappling with a housing crisis characterized by a shortage of millions of units and soaring housing costs for renters and buyers alike. To address this, cities are revising zoning rules to allow for more housing development, focusing on measures such as permitting multifamily homes in diverse neighborhoods and streamlining construction processes.

Minneapolis is leading the way with its progressive zoning reforms, adding 12% to its housing stock in just a five-year period. The city has taken measures such as ending single-family zoning and promoting midsize apartment buildings with 20 or more units. In Houston, minimum lot sizes were reduced from 5,000 square feet to 1,400, allowing for more units to be constructed. Milwaukee, New York City and Columbus, Ohio, are other examples of cities undertaking reform of their codes.

​

Photo by Nick Night on Unsplash

In 2024, the rental market is poised for transformation with two key factors: the growing impact of artificial intelligence (AI) tools and heightened competition among the multifamily rental market. A survey by AppFolio indicates that nearly half of property management professionals either use AI or plan to adopt it. Property managers face the challenge of maintaining high occupancy rates amidst a competitive market, with delinquencies identified as a top threat. To thrive in this changing landscape, property managers are leveraging AI to enhance operational efficiency, streamline tasks, and improve employee satisfaction, while also focusing on understanding resident expectations and offering digital services to attract and retain modern renters. A strategic technology approach is crucial for success in 2024 and beyond.

Photo by Towfiqu barbhuiya on Unsplash

In 2021 and 2022, the commercial real estate sector experienced a surge in proptech adoption, leading to increased investment. However, a recent report from the Center for Real Estate Technology and Innovation highlights a slowdown in momentum during 2023, attributed to factors such as inflation and geopolitical uncertainty. Venture capital investment in proptech witnessed a significant decline of 42% in 2023, amounting to $11.38 billion, compared to the previous year's total of $19.75 billion and the peak of $32 billion in 2021. Notably, the multifamily segment is being hailed as resilient, owing to continued robust activity in technologies targeting this space. What remains popular are technologies that help solve consumer problems, like reducing fraud.

​

(Photo by Luis Villasmil on Unsplash)

Leaders in New York’s State Senate are set to propose sweeping legislation to counter the growing housing crisis in the state of New York. The proposed legislation by leaders in New York’s State Senate aims to address the housing crisis through several key points:

​

• Creation of a new public benefit corporation to finance housing construction on state-owned land, inspired by the Mitchell-Lama program.
• Introduction of a new developer tax break with stronger affordability protections than the previous 421a program.
• Inclusion of "good cause eviction" legislation to restrict landlords' ability to evict tenants and justify rent hikes.
• Push for more construction of larger residential buildings in Manhattan and legalization of basement units.
• Requirement for condos and rentals built through the program to be affordable to middle-income households.

​

The proposal will be released as part of the One House budget bill, to incentivize significant new development while supporting landlords and tenants. However, its success hinges on gaining support from both houses of the Legislature and the governor, with details such as financial viability and inclusiveness of tenant protections remaining crucial factors.

​

Photo by Jan Folwarczny on Unsplash

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Veterans Affairs (VA) announced the allocation of over $14.5 million to public housing agencies (PHAs) nationwide to address veteran homelessness. An estimated distribution of more than 1,400 HUD-Veterans Affairs Supportive Housing (HUD-VASH) vouchers will be carried out nationwide. Some of the highest concentration of vouchers will go to Tucson, Arizona; Philadelphia; and Spokane, Washington. These vouchers combine rental assistance from HUD with support services, like case management and clinical services provided by VA. The vouchers have contributed to a 4% decrease in veteran homelessness since 2020 and has housed over 46,000 homeless veterans in 2023 alone.

​

Photo by Benjamin Faust on Unsplash

Homeownership among Black Americans has consistently trailed behind all others in the country, including by 28% compared to white homeowners. However, according to a new report by the National Association of Realtors (NAR), Black homeownership is expected rise in the future. 

​

How? As more Millennials and Gen Z enter into the home buying market, there will be a rise in minority owners. This is because on average, this demographic is more racially and ethnically diverse. 

​

Future predictions - 1.5 million Black households will turn the median homebuying age over the next 5 years. Female and millennial buyers have been driving growth in Black homeownership and will continue to do so. Besides Black households, 775,000 Asian households and 2.2 million Hispanic households will also turn the median homebuying age in the next 5 years.

​

Challenges remain - Barriers such as rental affordability, student debt, and mortgage denial rates persist, hindering Black Americans' ability to purchase homes and achieve equitable homeownership rates. Addressing these challenges will be crucial to fostering greater inclusivity in the housing market.

​

Photo by Tierra Mallorca on Unsplash

The United States is grappling with a housing crisis characterized by a shortage of millions of units and soaring housing costs for renters and buyers alike. To address this, cities are revising zoning rules to allow for more housing development, focusing on measures such as permitting multifamily homes in diverse neighborhoods and streamlining construction processes.

Minneapolis is leading the way with its progressive zoning reforms, adding 12% to its housing stock in just a five-year period. The city has taken measures such as ending single-family zoning and promoting midsize apartment buildings with 20 or more units. In Houston, minimum lot sizes were reduced from 5,000 square feet to 1,400, allowing for more units to be constructed. Milwaukee, New York City and Columbus, Ohio, are other examples of cities undertaking reform of their codes.

​

Photo by Nick Night on Unsplash

In 2024, the rental market is poised for transformation with two key factors: the growing impact of artificial intelligence (AI) tools and heightened competition among the multifamily rental market. A survey by AppFolio indicates that nearly half of property management professionals either use AI or plan to adopt it. Property managers face the challenge of maintaining high occupancy rates amidst a competitive market, with delinquencies identified as a top threat. To thrive in this changing landscape, property managers are leveraging AI to enhance operational efficiency, streamline tasks, and improve employee satisfaction, while also focusing on understanding resident expectations and offering digital services to attract and retain modern renters. A strategic technology approach is crucial for success in 2024 and beyond.

Photo by Towfiqu barbhuiya on Unsplash

In 2021 and 2022, the commercial real estate sector experienced a surge in proptech adoption, leading to increased investment. However, a recent report from the Center for Real Estate Technology and Innovation highlights a slowdown in momentum during 2023, attributed to factors such as inflation and geopolitical uncertainty. Venture capital investment in proptech witnessed a significant decline of 42% in 2023, amounting to $11.38 billion, compared to the previous year's total of $19.75 billion and the peak of $32 billion in 2021. Notably, the multifamily segment is being hailed as resilient, owing to continued robust activity in technologies targeting this space. What remains popular are technologies that help solve consumer problems, like reducing fraud.

​

(Photo by Luis Villasmil on Unsplash)

Leaders in New York’s State Senate are set to propose sweeping legislation to counter the growing housing crisis in the state of New York. The proposed legislation by leaders in New York’s State Senate aims to address the housing crisis through several key points:

​

• Creation of a new public benefit corporation to finance housing construction on state-owned land, inspired by the Mitchell-Lama program.
• Introduction of a new developer tax break with stronger affordability protections than the previous 421a program.
• Inclusion of "good cause eviction" legislation to restrict landlords' ability to evict tenants and justify rent hikes.
• Push for more construction of larger residential buildings in Manhattan and legalization of basement units.
• Requirement for condos and rentals built through the program to be affordable to middle-income households.

​

The proposal will be released as part of the One House budget bill, to incentivize significant new development while supporting landlords and tenants. However, its success hinges on gaining support from both houses of the Legislature and the governor, with details such as financial viability and inclusiveness of tenant protections remaining crucial factors.

​

Photo by Jan Folwarczny on Unsplash

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Veterans Affairs (VA) announced the allocation of over $14.5 million to public housing agencies (PHAs) nationwide to address veteran homelessness. An estimated distribution of more than 1,400 HUD-Veterans Affairs Supportive Housing (HUD-VASH) vouchers will be carried out nationwide. Some of the highest concentration of vouchers will go to Tucson, Arizona; Philadelphia; and Spokane, Washington. These vouchers combine rental assistance from HUD with support services, like case management and clinical services provided by VA. The vouchers have contributed to a 4% decrease in veteran homelessness since 2020 and has housed over 46,000 homeless veterans in 2023 alone.

​

Photo by Benjamin Faust on Unsplash

Homeownership among Black Americans has consistently trailed behind all others in the country, including by 28% compared to white homeowners. However, according to a new report by the National Association of Realtors (NAR), Black homeownership is expected rise in the future. 

​

How? As more Millennials and Gen Z enter into the home buying market, there will be a rise in minority owners. This is because on average, this demographic is more racially and ethnically diverse. 

​

Future predictions - 1.5 million Black households will turn the median homebuying age over the next 5 years. Female and millennial buyers have been driving growth in Black homeownership and will continue to do so. Besides Black households, 775,000 Asian households and 2.2 million Hispanic households will also turn the median homebuying age in the next 5 years.

​

Challenges remain - Barriers such as rental affordability, student debt, and mortgage denial rates persist, hindering Black Americans' ability to purchase homes and achieve equitable homeownership rates. Addressing these challenges will be crucial to fostering greater inclusivity in the housing market.

​

Photo by Tierra Mallorca on Unsplash

The United States is grappling with a housing crisis characterized by a shortage of millions of units and soaring housing costs for renters and buyers alike. To address this, cities are revising zoning rules to allow for more housing development, focusing on measures such as permitting multifamily homes in diverse neighborhoods and streamlining construction processes.

Minneapolis is leading the way with its progressive zoning reforms, adding 12% to its housing stock in just a five-year period. The city has taken measures such as ending single-family zoning and promoting midsize apartment buildings with 20 or more units. In Houston, minimum lot sizes were reduced from 5,000 square feet to 1,400, allowing for more units to be constructed. Milwaukee, New York City and Columbus, Ohio, are other examples of cities undertaking reform of their codes.

​

Photo by Nick Night on Unsplash

In 2024, the rental market is poised for transformation with two key factors: the growing impact of artificial intelligence (AI) tools and heightened competition among the multifamily rental market. A survey by AppFolio indicates that nearly half of property management professionals either use AI or plan to adopt it. Property managers face the challenge of maintaining high occupancy rates amidst a competitive market, with delinquencies identified as a top threat. To thrive in this changing landscape, property managers are leveraging AI to enhance operational efficiency, streamline tasks, and improve employee satisfaction, while also focusing on understanding resident expectations and offering digital services to attract and retain modern renters. A strategic technology approach is crucial for success in 2024 and beyond.

Photo by Towfiqu barbhuiya on Unsplash

In 2021 and 2022, the commercial real estate sector experienced a surge in proptech adoption, leading to increased investment. However, a recent report from the Center for Real Estate Technology and Innovation highlights a slowdown in momentum during 2023, attributed to factors such as inflation and geopolitical uncertainty. Venture capital investment in proptech witnessed a significant decline of 42% in 2023, amounting to $11.38 billion, compared to the previous year's total of $19.75 billion and the peak of $32 billion in 2021. Notably, the multifamily segment is being hailed as resilient, owing to continued robust activity in technologies targeting this space. What remains popular are technologies that help solve consumer problems, like reducing fraud.

​

(Photo by Luis Villasmil on Unsplash)

Leaders in New York’s State Senate are set to propose sweeping legislation to counter the growing housing crisis in the state of New York. The proposed legislation by leaders in New York’s State Senate aims to address the housing crisis through several key points:

​

• Creation of a new public benefit corporation to finance housing construction on state-owned land, inspired by the Mitchell-Lama program.
• Introduction of a new developer tax break with stronger affordability protections than the previous 421a program.
• Inclusion of "good cause eviction" legislation to restrict landlords' ability to evict tenants and justify rent hikes.
• Push for more construction of larger residential buildings in Manhattan and legalization of basement units.
• Requirement for condos and rentals built through the program to be affordable to middle-income households.

​

The proposal will be released as part of the One House budget bill, to incentivize significant new development while supporting landlords and tenants. However, its success hinges on gaining support from both houses of the Legislature and the governor, with details such as financial viability and inclusiveness of tenant protections remaining crucial factors.

​

Photo by Jan Folwarczny on Unsplash

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Veterans Affairs (VA) announced the allocation of over $14.5 million to public housing agencies (PHAs) nationwide to address veteran homelessness. An estimated distribution of more than 1,400 HUD-Veterans Affairs Supportive Housing (HUD-VASH) vouchers will be carried out nationwide. Some of the highest concentration of vouchers will go to Tucson, Arizona; Philadelphia; and Spokane, Washington. These vouchers combine rental assistance from HUD with support services, like case management and clinical services provided by VA. The vouchers have contributed to a 4% decrease in veteran homelessness since 2020 and has housed over 46,000 homeless veterans in 2023 alone.

​

Photo by Benjamin Faust on Unsplash

Homeownership among Black Americans has consistently trailed behind all others in the country, including by 28% compared to white homeowners. However, according to a new report by the National Association of Realtors (NAR), Black homeownership is expected rise in the future. 

​

How? As more Millennials and Gen Z enter into the home buying market, there will be a rise in minority owners. This is because on average, this demographic is more racially and ethnically diverse. 

​

Future predictions - 1.5 million Black households will turn the median homebuying age over the next 5 years. Female and millennial buyers have been driving growth in Black homeownership and will continue to do so. Besides Black households, 775,000 Asian households and 2.2 million Hispanic households will also turn the median homebuying age in the next 5 years.

​

Challenges remain - Barriers such as rental affordability, student debt, and mortgage denial rates persist, hindering Black Americans' ability to purchase homes and achieve equitable homeownership rates. Addressing these challenges will be crucial to fostering greater inclusivity in the housing market.

​

Photo by Tierra Mallorca on Unsplash

The United States is grappling with a housing crisis characterized by a shortage of millions of units and soaring housing costs for renters and buyers alike. To address this, cities are revising zoning rules to allow for more housing development, focusing on measures such as permitting multifamily homes in diverse neighborhoods and streamlining construction processes.

Minneapolis is leading the way with its progressive zoning reforms, adding 12% to its housing stock in just a five-year period. The city has taken measures such as ending single-family zoning and promoting midsize apartment buildings with 20 or more units. In Houston, minimum lot sizes were reduced from 5,000 square feet to 1,400, allowing for more units to be constructed. Milwaukee, New York City and Columbus, Ohio, are other examples of cities undertaking reform of their codes.

​

Photo by Nick Night on Unsplash

In 2024, the rental market is poised for transformation with two key factors: the growing impact of artificial intelligence (AI) tools and heightened competition among the multifamily rental market. A survey by AppFolio indicates that nearly half of property management professionals either use AI or plan to adopt it. Property managers face the challenge of maintaining high occupancy rates amidst a competitive market, with delinquencies identified as a top threat. To thrive in this changing landscape, property managers are leveraging AI to enhance operational efficiency, streamline tasks, and improve employee satisfaction, while also focusing on understanding resident expectations and offering digital services to attract and retain modern renters. A strategic technology approach is crucial for success in 2024 and beyond.

Photo by Towfiqu barbhuiya on Unsplash

In 2021 and 2022, the commercial real estate sector experienced a surge in proptech adoption, leading to increased investment. However, a recent report from the Center for Real Estate Technology and Innovation highlights a slowdown in momentum during 2023, attributed to factors such as inflation and geopolitical uncertainty. Venture capital investment in proptech witnessed a significant decline of 42% in 2023, amounting to $11.38 billion, compared to the previous year's total of $19.75 billion and the peak of $32 billion in 2021. Notably, the multifamily segment is being hailed as resilient, owing to continued robust activity in technologies targeting this space. What remains popular are technologies that help solve consumer problems, like reducing fraud.

​

(Photo by Luis Villasmil on Unsplash)