Erika Morphy

Rising power costs are starting to do what rent growth alone could not: force U.S. warehouse investors to rethink which assets can actually hold their margins. Even as headline rents cool from the post-2020 surge, the latest data from Cushman & Wakefi... See more

The blockbuster merger between AvalonBay Communities and Equity Residential is being framed as a move to gain scale, but the timing suggests something more fundamental is unfolding across the multifamily sector. Trepp data suggests the deal is landing at ... See more

The geography of opportunity for college graduates has shifted decisively toward Southern cities, with Birmingham claiming the top ranking among the nation’s 53 largest metro areas for entry-level hiring. This is a development that carries implications fo... See more

Fannie Mae's DUS lending machine came roaring back at the end of 2025 – and it did so without sacrificing credit discipline, signaling a meaningful improvement in multifamily debt availability for borrowers who can clear still‑steady underwriting bars. Tr... See more

The average conduit loan still looks familiar on paper. The leverage number has hardly moved. Yet beneath the headline 57.6% loan‑to‑value ratio, the economics of new CMBS debt have shifted decisively against marginal borrowers, as rising debt service cov... See more