A report from Bloomberg. "Residential starts fell 9.4% to a 1.26 million annualized rate on weakness in the multifamily category after an upwardly revised 1.39 million pace in the prior month, according to government figures released Thursday that missed estimates in Bloomberg’s survey. Permits, a proxy for future construction, dropped 2.7% to a 1.39 million rate that exceeded estimates. Groundbreakings for single-family properties proceeded at the fastest pace since January. That gain was offset by a 28.2% drop in new construction of apartment buildings and condominiums."

From Multi-Housing News on Florida. "Employment and population growth continue to fuel Miami’s multifamily market across all segments. With more than $3 billion in originations in South Florida and 146 loans granted in 2018, Berkadia is one of the region’s largest commercial mortgage lenders. Construction is expected to mark a new cycle high with more than 16,000 units delivered by year’s end, according to Yardi Matrix. How will the new supply impact the Miami market?"

"Charles Foschini senior managing director: Miami is so dense that any area can be successful. The key is finding land at a value where you can hit your return on cost and make a profit."

From Multi-Family Biz on Washington. "A wise man once said that nature abhors a void, but it seems that everyone else does, too—especially those of us in the multifamily housing industry. Up until recently, developers have turned to master lease agreements with short-term rental (STR) providers to help fill empty apartments during the lease-up phase. However, many industry innovators are now attempting a different solution, with AvalonBay Communities, Inc. being one of those very companies."

"Recently, AvalonBay Communities partnered with WhyHotel to create a pop-up hotel solution to address this all-too-common issue. According to leasing experts, it generally takes between 12 and 24 months to completely fill an apartment building the size of AvalonBay’s Seattle property, the 24-story, 275-unit Avalon Belltown Towers, with residents who meet the lease criteria and can pay the rental deposit. Even in a seller’s market, the lease-up period can have developers biting their nails and offering fantastic concessions just to seal the deal."

The Washington Post. "When he and his wife were shown the apartment, William Hart examined the window. There was no doubt. The software developer’s new home would be where his cubicle once was. After spending 10 years working for the IRS in the Oxon Hill, Md., office building, Hart returned in June to live there with his wife."

"In a city overrun with Type A workaholics who spend so much time in their offices they might as well live there, turning cubicles into homes seems logical. But there are sound economic reasons too. Across the region, as law firms downsize and the federal government retrenches, the Washington area is awash in vacant offices."

"There’s plenty of buildings waiting to be transformed. A recent search of Costar's database uncovered dozens of office buildings in the region with 0 percent occupancy."

The Wall Street Journal. "An apartment-hotel company that manages short-term rentals is leasing and managing an entire 26-story Dallas apartment building, the latest sign this budding segment of the lodging market is starting to gain traction. These operators mark the latest threat to the big hotel companies, which are already struggling with supply gluts, rising labor costs and slowing economic growth."

"Now they are taking entire buildings and aiming for more corporate travelers. Residential and commercial property owners are more willing to team up with these startups and develop or revamp entire buildings for these brands."

From Houston Public Media in Texas. "Houston saw the largest month-over-month decrease in rents of any major Texas urban area. The average U.S. rent dropped for the first time in more than two years. Rents were down across Texas, but Houston saw the biggest drop. That’s a bit of a break for renters, but it also indicates fewer people are seeking apartments."

"Doug Ressler, manager of business intelligence for Yardi Systems, said demand is falling across the board, from luxury apartments to more modest units. 'We really see it in terms of…both lifestyle and rents by necessity. Lifestyle’s the luxury stuff. Renters by necessity is the workforce, you know, the things like that,' he said. 'So, we’re seeing a downturn on both of that, and we’ve started to see that downturn beginning in July and August.'"

"Meanwhile, the supply of finished apartments in Houston is rising."

From The Orion in California. "Recent trends in Chico have made luxury housing a hot commodity for students. While these high-end apartments sound amazing, they have their drawbacks. Mainly, having expensive price tags that most students are unable to afford."

"'I would say the average rent in Chico is anywhere from $400 to $800 a month depending on the amenities and proximity to campus and things like that,' said Dan Herbert, director f Off-Campus Student Services. 'It’s interesting, I talk to people in my work throughout the country and the new trend in student housing are these higher-end, fully-furnished apartments. But that doesn’t mean that there aren’t thousands, literally, thousands of beds out there that are still the old fashioned, ‘four guys go to an apartment and they share the rent, and each gets a bedroom and their rent’s $400 a month.’"

"Additional amenities like onsite pools, parking structures, free printing, study rooms and gyms all come as standard with these luxury apartments. Gates and security are also put in place to assure those who lease with them are safe when in their homes."

"'Last year, I had my car’s tires slashed and it was parked in the complex,' said current tenant of Post on Nord, Nicholas Morales. 'Where it is supposed to be guaranteed safe and secure, which it wasn’t, they don’t have cameras in the parking lot so I couldn’t really do anything about it. They just said they’d keep an eye out and they sent an email out. They also raised the rent. For what I’m getting out of it I don’t feel like I’m getting enough in return; I feel like you’re paying more for the look.'"

The Hattiesburg American in Mississippi. "Two companies are putting in luxury renovations at a block of apartments next to Pete Taylor Park— a perfect location for University of Southern Mississippi students. But will the students be able to afford them? 'We're hoping for young families and students (to rent here),' said Bailey Kleban, manager with Kleban Properties. 'Right now it's a brick building that looks like any other complex in the area. We want it to breath luxury — ooze a sense of comfort and be a home that people deserve to have.'"

From KATV in Arkansas. "Tenants at the Spanish Valley Apartments protested alongside Arkansas Renters United on Sept. 22, in hopes to spread the message about AMG's treatment of residents. Don Marshall sold Rosewood and Parkway Crossing apartment complexes to AMG Realty Group one year ago. At the time, he was unaware of how AMG operated."

"'People like Adam Glickman are coming in taking a part what we did,' said Marshall. 'I regret anything that he buys in this state because I've spent a lot of time -- me and my wife -- my ex-wife, buying apartment complexes in southwest Little Rock. We fixed them up. We made them nice places for people to live, low-income people.'"

"Marshall has expressed he'd potentially consider purchasing back the two properties if they went into foreclosure. AMG Realty Group has not responded to requests for comment."