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The delta between cap rates for older and newer multifamily assets narrowed so much investors see few reasons to buy older buildings

"Bohater Powstania Warszawskiego, architekt Banku Światowego, wykładowca akademicki i niekwestionowany autorytet kilku pokoleń Polaków" - tak zmarłego prof. Juliana Eugeniusza Kulskiego wspomina Fundacja Kulskich.

Investors Have Backed Away from “Walkability” in Making Multifamily Plays Prices have fallen for assets with higher "walkability" scores while they've been rising for assets in more spread out, car-centric communities. It’s been good year for anyone tired of hearing about the high value of “walkable” apartment properties. Walkability has become a buzzy concept in residential circles in recent years, propelled in part by “walk scores” metrics developed by Redfin and other competitors. These numbers are meant to gauge how many key amenities are within easy walking distance ...

Among the ten greatest books ever written in economics is  University Economics. First published in 1972, this textbook that is co-authored by Armen A. Alchian and William R. Allen is a marvel. If you read it and grasp even no more than one-third of its lessons you will gain keener insights into economic forces at work than are had by some Nobel laureates in economics. If you grasp most of the lessons of this book, you will possess economic insight that is rivaled by very few people indeed. Alchian (1914-1913) died almost eight years ago. I learned just this evening, from Jerry Jordan, th...

Thousands of apartments stood empty in August 2020 that had been occupied only a few months before in urban cores across the country, including in previously white-hot markets like San Francisco and New York. Desperate owners have been dropping rents and offering eye-popping concessions and optimizing on-site amenities in attempts to lure tenants. But it’s not nearly been enough to offset the trend of residents relocating to more spacious and less expensive markets as well others, including many young renters, who have lost jobs and moved back home to live with their parents. In addition, a...