Articles Archives

Public Offerings

6 min read

Private placements may make up to three quarters of the affordable multifamily housing bond market, but that doesn’t mean that publicly offered bonds are a weak sister. In fact, growth in tax-exempt bond public offerings may be even larger than the increase in private placements in 2021.

Innovative Construction

6 min read

In recent years, the rising cost of traditional construction—we’re looking at you, lumber—has pushed some affordable housing producers to explore modular options.

Housing USA: The Economic Growth that Drives Texas LIHTC

6 min read

Affordable housing production is needed in markets with high job growth, in order to accommodate the increased demand from inbound workers.

New Developments: How I Learned to Stop Worrying and Love Asset Management

4 min read

In 2012, NH&RA began work on one of the most fulfilling projects of my professional career – the Preservation Through Energy Efficiency (PTEE) Initiative. When we first got the initiative rolling, oil prices had inched back up to near all-time highs, in excess of $120 per barrel and rising utility costs threatened the performance of many multifamily investments.

Private Placements Continue to Work for Affordable Multifamily

8 min read

Private placements, with their higher loan proceeds, additional flexibility and with less complexity than many other affordable housing executions, now make up more than 70 percent of the tax-exempt bond market and volumes are set to grow again this year.

You Never Know What You’ll Find

8 min read

Low-income housing property managers are plowing through a backlog of maintenance work and resuming unit inspections to prepare for the return of in-person inspections by The Real Estate Assessment Center, or REAC, at the Department of Housing and Urban Development in June.

Housing USA: Texas’ Affordable Housing Ruling, Five Years Later

6 min read

Texas is well-known for its fast growth, yet ability to stay affordable. The state has a mostly elastic housing market (of the 50 largest U.S. metros, four of the top 12 in permitting rates are in Texas).

Buy or Sell?

7 min read

Odd as it sounds given the events, the U.S. property market had a banner year in 2020, and its upward streak continues. The Case-Shiller National Home Price Index, which measures single-family home prices, is up 12 percent since February 2020.

New Developments: The Long Road to Recovery

5 min read

It has been a momentous few months for the affordable housing community. After a bumpy presidential transition, there has been a flurry of positive activity from the Biden administration and 117th Congress. The enactment of American Rescue Plan of 2021 provides much-needed financial support for affordable housing renters at a critical moment. Our champions in Congress have reintroduced the Affordable Housing Credit Improvement Act and Historic Tax Credit Growth and Opportunity Act with expanded scopes that would dramatically enhance and expand the Low Income Housing Tax Credit and the Historic Rehabilitation Tax Credit if enacted.

Rising Costs of Construction Materials

7 min read

A troubling spike in lumber prices may not break until later this year, as a badly out-of-whack supply and demand equation continues to roil the construction industry.

NCHMA Conference Report

3 min read

While COVID-19 may be accelerating design and construction changes in multifamily housing in the near term, larger market forces are at work and will influence how homes are built over the longer term, speakers at the National Council of Housing Market Analysts (NCHMA) said at the NCHMA Spring Meeting last month.

Housing USA: The Environmental, Speed and Cost Promise of Wood-Frame High Rises

6 min read

Wood-frame high-rise construction may soon become commonplace in the United States. The International Code Council (ICC), which develops a model building code, recently approved mass timber construction of up to 18 floors.

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