The balance of evidence points to moderately elevated lumber prices with above-normal volatility through Q4 2025. As of today (Sept 16, 2025), the forward curve prices late-2025 delivery near the high-$500s/MBF—with Nov ’25 around $586/MBF—implying a market that expects tighter supply than in 2024 but not a 2021-style spike. My base case is an…
Multifamily Construction Outlook Multifamily Starts on a Downward Trajectory Recent forecasts show a clear pattern: multifamily housing starts are expected to decline through the end of 2025, reaching a low point in Q4. The latest projections predict annualized starts will drop to approximately 372,000 units in Q4 2025 before rebounding to around 402,000…
Possible Housing Emergency? With housing affordability at crisis levels across much of the United States, former President Donald Trump has floated the possibility of declaring a housing emergency if he returns to office. Such a declaration would carry profound implications for the multifamily sector, which sits at the center of the national debate over…
Fannie Mae and Freddie Mac In the evolving landscape of U.S. housing finance, the Trump administration’s reported plans to pursue an initial public offering (IPO) for Fannie Mae and Freddie Mac have sparked intense debate. As of August 2025, with the administration eyeing a potential IPO in the fall or winter, this move could…
Cashless Bail In recent years, cashless bail policies—also known as bail reform—have been implemented in several U.S. states and cities to address inequities in the criminal justice system. These reforms allow many defendants accused of misdemeanors and nonviolent felonies to be released pretrial without posting cash bail, relying instead on risk assessments, electronic monitoring,…
Key Trends & Forecasts Construction Starts & Supply Pipeline Fannie Mae reports that multifamily housing starts peaked in Q2 2025 at an annualized rate of roughly 390,000 units, down to 366,000 units in Q1 2026. The forecast for Q4 2025 shows a gradual decline following this peak. According to NAHB, starts declined 25% in…
In a bold move aimed at democratizing investment opportunities for everyday Americans, President Donald J. Trump signed an executive order on August 7, 2025, that paves the way for 401(k) retirement plans to include alternative assets such as private equity, cryptocurrencies, real estate, and infrastructure. This policy shift, touted as a means to boost…
Modular Home Development In an era where housing affordability remains a pressing national issue, modular home development has emerged as a promising solution in the United States. Modular homes are prefabricated structures built in sections (or modules) in a controlled factory environment, then transported and assembled on-site. Unlike traditional site-built homes, this method allows…
Trump’s New Tariffs On August 1, 2025, the Trump administration announced a sweeping new tariff regime targeting imports from major U.S. trading partners, including a 50% tariff on Brazilian goods, a 35% tariff on Canadian imports, a 39% tariff on Swiss goods, and a 30% tariff on EU goods, among others. These tariffs, significantly…
In an era where terrorist threats remain a concern, securing an office building against such risks is a critical responsibility for property managers, business owners, and security professionals. Protecting employees, assets, and sensitive information requires a comprehensive, multi-layered approach that balances deterrence, detection, and response while maintaining an environment conducive to productivity. Drawing on insights…
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