DAILY READS: Jan. 9, 2020

Millennials Are Migrating North

“According to the study, the older end of the Millennial generation bought more homes in San Francisco, San Jose and Los Angeles. The average age in these metros was 31.6-years-old, which is about a year older than the national average of 30.8-years-old. The average age of Millennial homebuyers in Buffalo, Detroit and Minneapolis is on the younger end of the generation, at 30.2-years-old.”
—Housing Wire

Dallas-Fort Worth’s Retail Real Estate Market Chipped Away at Its Overbuilt State Last Year

“’We’ve seen our market self-regulate,’” (Weitzman Executive Managing Director Bob) Young said, “‘which is evident when the last two decades are compared.'”
—Dallas Morning News

Opinion: Unintended Consequences: How ‘Green’ Regulations Exacerbate the Housing Crisis

“Back in 2008, Schwarzenegger was dealing with entirely different circumstances. America’s housing market was in collapse, forcing a reexamination from tip to tail. The Republican governor chose to think big by making the greenest housing stock in the country — supercharging any previous policy on how to make that happen.”
—MarketWatch

Newmark Eyes European Retail With Latest Brit Buy

“Founded in 1993, HDH offers tenant-focused real estate advisory services for an collection of clients including Belstaff, Five Guys Burgers & Fries, J. Crew, Louis Vuitton, Samsung, Skechers, Tiffany & Co. and West Elm.”
—Real Estate Weekly

What The Real Estate Industry Can Learn From How Co-Living Succeeds

“Co-living is a notable exception, featuring design teams and philosophies more in line with consumer product companies. And the end result has been notable: Co-living brands have built track records of strong demand, high occupancy rates and above-market yields. But what if this wasn’t a result of co-living’s inherent strengths, but rather its champions’ unique focus on customer experience?”
—Forbes

Opportunity Zones ‘Full Steam Ahead’ After Final Rules Debut

“I think you’re going to start to see more capital come in,” (Avanath Capital CEO and founder Daryl) Carter said. “A lot of investors we’ve spoken with wanted to make sure the final regs were consistent. Clarity is so important.”
—Bisnow

CBRE Ranks the Hottest Multifamily Markets for 2020

“The 2020 U.S. Real Estate Market Outlook notes that permits and starts are likely to dip this year due to lower demand — 240,000 units this year versus 300,000 last year — and that there are so many properties under construction that completions are on target to come in at 280,000 new units, just 1,000 less than in 2019.”
—Construction Dive

The Shortage of Homes for Sale Is Getting Much Worse, Even in Luxury

“The supply of homes for sale was 12 percent lower compared with December 2018, according to realtor.com. The decline was much steeper than the 9.5% annual drop in November. Buyer demand is so strong, that whatever is on the market is going quickly.”
—CNBC