Units - March 2012 - (Page 10)
New-Car Sales Measure Economy’s Performance— Not Jobs Report
THE MONTHLY NEW-CAR SALES report can be more indicative of the nation’s economic standing than the employment number, according to Equity Residential’s Vice President, Market Research, Jay Lybik, speaking recently at NMHC’s Apartment Strategies Conference. Auto sales data is typically released directly by each manufacturer on the first or second day of the month. Auto sales are included in the government’s retail sales reports, but data from each manufacturer is more valuable because it provides details about which cars are selling the best, Lybik says. A summary of this data can be found at www.autonews.com. “When data show that there’s an uptick in new-car sales, that is a much better indicator that peoples’ financial standing is improving,” he says. “It reflects greater consumer confidence and that the consumer was able to secure the credit he or she needed to make a big purchase. The fact that they were willing to buy a new car means that they have much better feelings about which direction the economy and their individual economic situation is headed.”— NAA’s Paul R. Bergeron III
Rental Screening Data Shows National Hike In Security Deposits
THE AVERAGE SECURITY DEPOSIT rose $15 nationally to $284 in Q4 2011 compared to Q4 2010, according to TransUnion’s proprietary rental screening database, based on the review of 200,000 rental applications. The data shows that the average national rental prices fell slightly in the same period, declining $11 to $820. The survey, released in February, noted that there were regional differences with average rental payments, as some markets increased more than 10 percent in the past year. It also says, on average, property managers tightened their acceptance criteria for potential applications that are accepted without any conditions such as higher deposit amounts. Based on proprietary decision algorithms where property managers may determine the weight of certain selection variables, TransUnion’s analysis found that those property managers who made changes to these measures increased their acceptance criteria by more than two percentage points.
Fannie and Freddie Start Strong in 2012 For Multifamily Loans
FANNIE MAE AND FREDDIE MAC originated nearly 60 percent of all multifamily loans in 2011, totaling $32 billion. Despite the ramped-up competition they are seeing from the life insurance industry, the two governmentsponsored enterprises (GSEs) will likely exceed that record this year as originations are expected to top $75 billion. Freddie Mac, for instance, expects to close between $21 billion and $24 billion in originations this year. Its Managing Director Tom Hamill told an audience at the recent RealShare Apartments East in February in Washington, D.C., “We have already funded $1.9 billion so far in January.” However, both GSEs are facing headwinds in the form of increased competition from other providers. In addition, the U.S. Treasury Department recently made a reference to winding down Fannie and Freddie. —NAA’s Industry Insider 10 UNITS
March 2012 w w w. n a a h q . o r g
Table of Contents for the Digital Edition of Units - March 2012
Units - March 2012
Table of Contents
Movers and Shakers
Do You Still Like Facebook?
You Got the Job!
Customers as Kings
Getting a Foot in the Door
Renovations Made Easier
Understanding Tax Deductions for Energy Efficiency
University RPM Programs Produce Poised Employees for Industry
NSC Directory: Products and Services
End Points: 10 Things I Would Do on the Perfect Day Off
Units - March 2012