The New York housing market was once considered the epitome of stability. But with HSTPA and the plans for a comprehensive rent freeze, the picture is changing: Values are collapsing, loans are faltering, investors are pulling out. “Concrete gold” is turning into a lesson in political intervention – with consequences for owners, banks and tenants.
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Absorption, units under construction and new jobs determine stability and cash flow in the US multifamily market. We show how this trio precisely explains demand, supply and leasing – and how investors can derive reliable underwritings and realistic yield paths from them.
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17% IRR on paper – but how much reality is behind it? Our review of a US multifamily deal shows why even small assumptions about the exit cap rate, rents or reserves can shift millions in earnings. A reality check that protects investors from expensive illusions.
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