Seattle Multifamily Market Overview

June 27th, 2019 by John Mullen

Seattle possesses a strong multifamily housing market that has shown excellent growth in almost every conceivable category in terms of both long- and short-term lenses. As of Q1 2019, the city’s number of inventory units sits at 150,728 – an increase of approximately 7,800 since Q1 2018 and 29,500 since Q1 2015. In addition, rents have also seen growth, posting a modest 1.5% increase since Q1 2018, as well as a staggering 18.9% increase since Q1 2015. The city’s rents are expected to jump in the near future, too, with CoStar projecting the Q1 2020 market asking rent to be at $1,903, a 7.5…

New York Rent Reform Package of 2019

June 17th, 2019 by Keeley Byer

On June 11, 2019, New York State Assembly Speaker Carl Heastie and Senate Majority Leader Andrea Stewart-Cousins reached an agreement on a comprehensive rent reform package that will limit or eliminate many previous laws and regulations, which includes the elimination of High-Income and High-Rent deregulation as well as limits to the Major Capital Improvement (MCI) and Individual Apartment Improvement (IAI) programs. However, the Rent Reform package did not include a universal rent control measure, which would have allowed the creation of new rent stabilized units, nor did…

Greysteel Donates to Feed My Starving Children Organization

June 10th, 2019 by Rebecca Wiley

Greysteel's Phoenix team members and their families joined forces with Feed My Starving Children (FMSC) on June 6th to pack enough food to pack 41,904 meals, enough to feed 114 children in Thailand for a year!

Greysteel Capital Markets Update | June 2019

June 4th, 2019 by Keeley Byer

As trade war fears rose and economic data disappointed, Treasury yields declined in May. The 10-year Treasury rate decreased to 2.14% at the end of May, down 37 basis points from the previous month. The stock market fared no better, either, as the S&P 500 lost 6.6% in May. These decreases, paired with the Trump administration’s recent move to impose punitive tariffs on Mexico, have investors anticipating a potential near-term economic downturn with a second front in the global trade fight. However, in early June, Fed Chairman Powell suggested trade tensions could lead the central bank…

Investing In Opportunity Zones

May 24th, 2019 by Keeley Byer

OPPORTUNITY ZONES: April 2019 Proposed Regulations

The Investing in Opportunity Act, a special provision in the 2017 Tax Cuts and Jobs Act, is an innovative economic development tool designed to spur long-term private sector investments in designated Qualified Opportunity Zones (QOZs), located in 8,762 low-income urban and rural census tracts, throughout the U.S. With an estimated $6.1 trillion of unrealized capital gains eligible for…

Greysteel Capital Markets Update | May 2019

May 3rd, 2019 by Keeley Byer

On May 1, the Federal Reserve voted to hold interest rates steady, between 2.25% and 2.50%, meeting market expectations. The decision follows a much stronger-than-anticipated growth over the first three months of the year. Bureau of Economic Analysis data showed U.S. real gross domestic product (GDP) increased 3.2% in the first quarter of 2019, beating analyst expectations. While consumer spending surged to its highest level in over nine years in March, rising 0.9% overall (0.7% when adjusted for inflation), driven mainly by a jump in health care and motor vehicle expenditures. The 10-year…