NAA Five, for the Week Ending March 3rd, 2023

Posted By: Denise Hanzlik Industry, SDMHA Resources,
The Big Picture: This week, the media largely focused on rent trends - continued declines as new supply comes online - and rent control, which had notable developments this week in Boston and Prince George's County, Md (a suburb of Washington, D.C.). 
What We're Advocating

Advocate: Final preparations are underway for Advocate, NAA’s annual advocacy conference, Mar. 28-29 in Washington, D.C. 

What We're Saying

Rent Control: Speaking on the Multifamily Matters radio show, NAA President and CEO Bob Pinnegar noted that “rent control continues to be something that’s popping up again and again… we’ve been watching what’s going on in Boston and Connecticut. There are communities in Maryland that are looking at rent control or having discussions around it, and we’re working with our state and local affiliates to make sure that we’re successful in bringing other options to the table.” Listen to the episode.  

What We're Doing

Industry Operations: Join NAA’s next webinar, “Clean the Air with Smoke-free Apartments,” Mar. 7 at 2 p.m. ET. Learn more and register

What We're Hearing

Rent Trends: “According to housing economists, if apartment demand doesn't pick up, or if the U.S. economy slides into a recession, the rent that landlords ask for new leases could fall nationwide on an annual basis for the first time since the global financial crisis. And renters in some overheated markets with a lot of new supply popping up could see rents drop significantly, even if the economy steers clear of a significant downturn.” (Business Insider