Housing affordability vs. the election and wildfires, CubeSmart makes big buy in Big Apple, Swedish experiment in multigenerational living, and the year that was in multifamily housing.
In Today's News
What Voters are Saying About Housing This Election Season
Because it's time to do this sort of thing, the National Association of Home Builders surveyed registered voters around the country and reports these two takeaways: A larger portion of respondents feels Democrats are more likely to address housing affordability than the GOP and a large majority of respondents are in favor of an additional financial stimulus.
Why it matters: There's more to read here, but the results do point to housing affordability, and the pandemic's effects on the economy has major issues as next Tuesday comes rushing toward us.
Housing Affordability Crisis Deepens in Fire-Prone Parts of California
The Wall Street Journal [subscription required] reports today that insurance companies are retreating from selling home insurance in wildfire-prone parts of California, making it more difficult and expensive for homeowners in those areas to protect their houses.
Why it matters: Lenders won't provide mortgages for uninsurable houses, adding to the human and economic toll that wildfires are taking in those areas as the conflagrations explode in frequency and size.
CubeSmart Strikes $540 Million NYC Self-Storage Deal
CP Executive calls it a blockbuster transaction that will add nearly 800,000 rentable square feet to the big REIT's platform in Queens, Brooklyn, and the Bronx, areas where pandemic-driven moves have driven demand for storage space.
Why it matters: CubeSmart (NYSE: CUBE) is one of a handful of storage real estate investment trusts (REITs) that the public can invest in, and if you think this was a good move, you might jump in.
Today on Millionacres
Why it matters:
Could This Swedish City's Experiment in Multigenerational Living Work Here?
Millionacres' Maurie Backman looks at a small Swedish town's experiment with splitting a former retirement home into apartments evenly divided between elderly folks and young adults.
Why it matters: These are unrelated people, not like the multigenerational living we're used to thinking about. It's interesting to consider how this kind of arrangement could work both to provide affordable housing to both groups and to encourage togetherness that combats loneliness.
Multifamily Investing: A Year in Review
Millionacres' Brad Cartier kicks off our year-in-review series with a look at how a cataclysmic trip around the sun -- one that isn't quite yet done -- has affected this crucial segment of the housing industry.
Why it matters: Brad not only talks about what has happened, he takes a look ahead through the eyes of a real estate investor.