<?xml version="1.0" encoding="UTF-8"?><rss xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:atom="http://www.w3.org/2005/Atom" version="2.0"><channel><title><![CDATA[JARE Consulting]]></title><description><![CDATA[JJA REC]]></description><link>https://www.jjarec.com/blog</link><generator>RSS for Node</generator><lastBuildDate>Sun, 14 Jun 2026 23:29:13 GMT</lastBuildDate><atom:link href="https://www.jjarec.com/blog-feed.xml" rel="self" type="application/rss+xml"/><item><title><![CDATA[Rent Concessions and the Effective-Rent Gap]]></title><description><![CDATA[Multifamily Dive ran a piece last week on a question that sounds simple: are rent concessions rising or falling? The answer depends entirely on which number you look at. REIT executives reported free-rent incentives easing on their first-quarter calls, while CoStar, RealPage, and Yardi all show concession usage broadening across 2026. Per Colliers, concession dollars hit a record high in Q1 at an average of $129 per unit, yet only 25.4% of units are offering any incentive at all – well below...]]></description><link>https://www.jjarec.com/post/rent-concessions-and-the-effective-rent-gap</link><guid isPermaLink="false">6a2d85fb675ca08c42a9e958</guid><pubDate>Tue, 09 Jun 2026 13:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/c9ed54_a50c242b007349df8329ba50f793c665~mv2.png/v1/fit/w_1000,h_900,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>JJA REC</dc:creator></item><item><title><![CDATA[Public Equity Funds Are Changing Where Cities Sit in the Capital Stack]]></title><description><![CDATA[A city fund in Chattanooga recently put $8 million into a 170-unit project that no private backer wanted to touch. In exchange it took a 51% ownership stake and a requirement that 30% of the units rent below market. The fund's target return was about 8 percent, versus the roughly 16 percent a private equity shop would have demanded. That gap in required return is the mechanism the headline glosses over.   The novel part isn't the concessionary return – CDFIs and mission lenders have priced...]]></description><link>https://www.jjarec.com/post/public-equity-funds-are-changing-where-cities-sit-in-the-capital-stack</link><guid isPermaLink="false">6a2d85fc418318a8f7e46845</guid><pubDate>Fri, 05 Jun 2026 13:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/c9ed54_34cab67a89704deba3352ba6bc3bb265~mv2.png/v1/fit/w_1000,h_900,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>JJA REC</dc:creator></item><item><title><![CDATA[The ROAD to Housing Act's Quiet Capital-Markets Provision]]></title><description><![CDATA[The House passed the 21st Century ROAD to Housing Act (H.R. 1299) on May 20 by a 396-13 vote. Press coverage has focused on the supply provisions and the corporate-landlord ownership limits. The package's most consequential capital-markets provision, however, is the Community Investment and Prosperity Act, which raises the cap on national banks' public welfare investments (PWI) from 15% to 20%.   Per the Affordable Housing Tax Credit Coalition, the Housing Credit accounts for roughly 80% of...]]></description><link>https://www.jjarec.com/post/the-road-to-housing-act-s-quiet-capital-markets-provision</link><guid isPermaLink="false">6a2d85fc418318a8f7e4684a</guid><pubDate>Thu, 04 Jun 2026 13:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/c9ed54_ddb1dce004f44c8d841401583be29c98~mv2.png/v1/fit/w_1000,h_900,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>JJA REC</dc:creator></item><item><title><![CDATA[NYC's $4 Billion Pension Housing Initiative: The Product Innovations That Matter]]></title><description><![CDATA[NYC Comptroller Mark Levine launched the NYC Housing Investment Initiative on April 16, committing $4 billion in NYC pension capital to affordable housing finance over the next four years (i.e. roughly $1 billion per year). The commitment more than doubles the five public pension funds' current $2.8 billion housing exposure as of year-end 2025.   The headline number drives the press coverage, but the structural changes underneath the first $1.25 billion of allocations are where the...]]></description><link>https://www.jjarec.com/post/nyc-s-4-billion-pension-housing-initiative-the-product-innovations-that-matter</link><guid isPermaLink="false">6a2d85fd675ca08c42a9e95e</guid><pubDate>Sat, 30 May 2026 13:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/c9ed54_8a9c08e26fd7414590f1d7ee9ba844e5~mv2.png/v1/fit/w_1000,h_900,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>JJA REC</dc:creator></item><item><title><![CDATA[The Workforce Housing Tax Credit Inherits LIHTC's Soft-Money Problem]]></title><description><![CDATA[Reps. Jimmy Panetta (D-CA) and Mike Carey (R-OH) reintroduced the Workforce Housing Tax Credit Act on May 6. The bipartisan bill would create the first federal middle-income housing tax credit and finance roughly 344,000 affordable rental homes over the next decade, per the sponsors' release. A 2023 attempt at the same legislation died in committee.   The mechanics borrow heavily from the Low-Income Housing Tax Credit. State housing finance agencies would receive an annual middle-income...]]></description><link>https://www.jjarec.com/post/the-workforce-housing-tax-credit-inherits-lihtc-s-soft-money-problem</link><guid isPermaLink="false">6a2d85fe44c7bef1d030991f</guid><pubDate>Thu, 28 May 2026 13:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/c9ed54_872f636d633d42a786df7af097e8ad07~mv2.png/v1/fit/w_1000,h_900,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>JJA REC</dc:creator></item><item><title><![CDATA[April Housing Starts and the Builder Pivot to Multifamily]]></title><description><![CDATA[The April new residential construction print is out, with total housing starts down 2.8% month-over-month to a 1.47 million annualized rate. The composition of that print is where the more interesting read sits.   Single-family starts fell 9.0% to 930,000, and single-family permits dropped 2.6% for the second consecutive month. Multifamily starts (i.e. 5+ unit buildings) rose 14.3% month-over-month and 23.3% year-over-year to 529,000, a three-year high in the segment. Multifamily permits...]]></description><link>https://www.jjarec.com/post/april-housing-starts-and-the-builder-pivot-to-multifamily</link><guid isPermaLink="false">6a2d85ff44c7bef1d0309921</guid><pubDate>Thu, 21 May 2026 13:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/c9ed54_741d2c3c784f4f40a2331d79f163c6af~mv2.png/v1/fit/w_1000,h_900,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>JJA REC</dc:creator></item></channel></rss>