Sharon Wilson Géno | President of the National Multifamily Housing Council (NMHC)
May 6, 2024
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Sharon Wilson Géno, President of NMHC, discusses public policy challenges in the apartment industry, emphasizing the importance of multifamily housing, regulatory hurdles, and addressing housing shortages. The conversation delves into the dynamics of housing development, community representation, property upgrades for sustainability, rent setting processes, taxation impacts, and the warmth of the apartment industry in shaping vibrant communities.
Increased public and legislative support needed to address housing shortage in the multifamily industry.
Importance of private capital and public-private partnerships for affordable housing development.
Adoption of innovative housing trends like single-family rentals to cater to changing consumer demands.
Deep dives
Challenges in Multifamily Housing Industry
The podcast episode delves into the challenges facing the multifamily housing industry, highlighting the systemic housing shortage in the country. The speaker emphasizes the need for increased public and legislative support to address this issue. Discussions center on changing public perception of the industry and tackling legislation at federal, state, and local levels to alleviate housing challenges.
Role of National Multifamily Housing Council
The episode features Sharon Wilson-Jino, the president of the National Multifamily Housing Council, who discusses the organization's diverse membership and its role in representing owners, developers, and operators in the multifamily housing sector. Wilson-Jino emphasizes the importance of private capital in affordable housing development and the need for public-private partnerships to address housing affordability issues.
Housing Affordability and Rental Dynamics
The conversation covers the dynamics of housing affordability, rental dynamics, and the impact of value-add investments in properties. The dialogue expands on the challenges of rent control, rent stabilization, and the balancing act required in property upgrades. The discussion navigates through topics like gentrification, value-add strategies, and the utilization of technology in rental property management.
Dynamic Community Change and Resistance to Neighborhood Evolution
Communities are ever-evolving entities influenced by various factors such as financial opportunities and convenience, leading residents to either embrace change or resist it. Some individuals eagerly seize new opportunities to relocate when given the chance, viewing it as a positive change. However, others struggle with the alterations, clinging to the past due to emotional attachment or nostalgic sentiments. Nevertheless, all communities undergo transformations regardless of income levels, reflecting the dynamic nature of neighborhoods.
Transforming Housing Trends: Embracing Rental Models for Future Generations
The evolving landscape of housing trends embraces innovative approaches like single-family rental and Airbnb models to cater to changing consumer demands and market dynamics. Single-family rental investments and built-to-rent developments are gaining popularity, offering alternatives for individuals seeking housing without the responsibilities of homeownership. Younger demographics express a desire for convenient living arrangements focusing on quality amenities over traditional homeownership concerns. These trends aim to address housing supply shortages and adapt to evolving preferences within the real estate market.
Sharon Wilson Géno, President of NMHC, and Matt discuss the public policy and public perception challenges around the apartment industry’s role in addressing our nation’s housing shortage.
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