METRO
Published 17 Years
Professional Publishing, Inc
www.TheLandlordTimes.com
PORTLAND & VANCOUVER
June 2013
Get Social With The Landlord Times
MONTHLY CIRCULATION TO MORE THAN 20,000 IN PORTLAND/VANCOUVER APARTMENT OWNERS, PROPERTY MANAGERS, ON-SITE & MAINTENANCE PERSONNEL Published in association with: METRO Multifamily Housing Association; Rental Housing Association of Oregon; IREM & Clark County Rental Association
$1.1 Trillion Apartment Industry Highlights Multifamily Job Growth for Congress
Highlighting the economic strength of the apartment industry in front of Congress, Tom Bozzuto, Chairman and CEO of the Bozzuto Group, represented the National Multi Housing Council (NMHC) and the National Apartment Association (NAA) before a House Energy and Commerce Subcommittee recently. “The apartment industry is a competitive and robust $1.1 trillion industry that helps 35 million renters live in a home that’s right for them. In an environmentally sound way, we help build vibrant communities by offering housing choice, supporting local small businesses, creating millions of jobs and contributing to the fabric of communities across the country,” said Bozzuto, who is also chairman of NMHC. It takes at least 300,000 new apartments each year to meet demand, but less than half that number was
6 Questions with Joseph Bernard The Landlord Times and Apartment News sat down with veteran apartment broker and investor, Joseph Chaplik to discuss Arizona, Oregon and the state of the apartment investment market. THE LANDLORD TIMES: Give us a brief history of your career. How did you get into the apartment brokerage business? JOSEPH CHAPLIK: Previously I was a Vice President of a telecommunication company and started buying apartments when I relocated to Portland. The level of professionalism by the other brokers was not impressive, so I decided to start my own company. I wanted to provide a higher level of professionalism, integrity and service to the apartment investors, which I thought they deserved. Continued on page 7 Page 3
Continued on page 2
PCA Remains Optimistic; Expects Strong Growth in Cement Strong Economic Momentum Expected to Spillover to Construction Following the strongest cement consumption gains in seven years in 2012, cement consumption growth will continue in 2013 with a 6.2 percent increase. According to the latest forecast from the Portland Cement Association (PCA), the majority of market recovery will occur in the second half of 2013. "Recessions correct imbalances generated during boom periods," Ed Sullivan , PCA chief economist said. "Few economists doubt the generation of a large pent-up demand during the past several years. The question is, when the economy will unleash its potential for strong growth?" Professional Publishing, Inc PO Box 30327 Portland, OR 972943327
The recession has created a pentup demand not just for consumer products but also construction. For example, PCA expects housing starts, to reach nearly 1 million in 2013. Multifamily construction also continues to grow at a strong pace and this trend should continue as favorable fundamentals fuel the sector. Multifamily starts recorded a 55 percent gain in 2011 and 36 percent growth in 2012. PCA expects an additional growth of 29 percent in 2013 to 318,000 units. "Although nonresidential and residential will be in full recovery in Continued on page 6
Current Resident or
PRSRT STD US Postage PAID Portland, OR Permit #5460
PRESIDENT'S MESSAGE Page 6
PRESIDENT'S MESSAGE Page 10 Chapter 29 Institute of Real Estate Management
NEW IREM® WHITEPAPER EXAMINES EFFECTIVE COMMUNICATION AS A... Page 14
Clark County Rental Association
NATIONAL MORTGAGE SETTLEMENT PROVIDES...