November 9, 2018
What You Need to Know
Post-Election
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While there are still a few outstanding races yet to be determined, we know now that the midterm elections produced a divided government where Republicans maintained control of the Senate and the Democrats won the House.

Let’s take a look at what this means for Washington’s ability to move forward on the important issues facing the nation and for the multifamily industry.

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NMHC Insider
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TELECOMMUNICATIONS

This week, leaders from NMHC met with several Commissioners of the Federal Communications Commission (FCC) to discuss three active FCC proceedings that have the potential to impact apartment community operations. David Schwartz, NMHC’s Vice Chair and CEO of Waterton Associates along with Lela Cirjakovic, Waterton’s EVP of Operations and NMHC President Doug Bibby met with FCC Chairman Ajit Pai and FCC Commissioners Jessica Rosenworcel and Brendan Carr. 
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FINANCE AND CAPITAL MARKETS

FHFA Announces 2019 Multifamily Lending Caps
The Federal Housing Finance Agency (FHFA) announced the 2019 multifamily lending caps for Fannie Mae and Freddie Mac today. The FHFA announced that the lending cap will be $35 billion for each enterprise – which is the same amount as in 2018. 
Upcoming Meetings
November 14 - 16 at Rosen Shingle Creek in Orlando, FL
2019 NMHC Annual Meeting
January 29 - 31 at the Manchester Grand Hyatt in San Diego, CA

NMHC PAC

NMHC PAC Reflects on 2018 Elections

Federal policymakers make decisions that affect the multifamily industry everyday – that’s why the NMHC PAC is crucial to helping increase our industry’s visibility. NMHC PAC has been hard at work this election cycle helping to elect lawmakers who understand and value our industry. Now that the 2018 elections are behind us, take a look at our post-election graphic to see the impact your investment in the NMHC PAC has made.

Click Here to View the Graphic.

Hill Watch
Senate In Session: November 13, 2018
Senate House in Session: November 13, 2018
Media Roundup
Midterms 2018: Live Elections Coverage and Analysis
Wall Street Journal
Maxine Waters promises change if selected to lead Financial Services Committee
HousingWire
Californians Vote to Defeat Prop10
Multifamily Executive
The Scoop

In a Critical Victory for the Multifamily Industry, California Voters Defeat Prop 10

California voters sent a resounding message this week that rent control is not the answer to solving the housing affordability crisis. Rent control exacerbates the very problem it attempts to solve — results nearly universally recognized in academic literature.

While it is clear rent control is the wrong path, more needs to be done to alleviate housing affordability challenges across the country. Addressing this crisis will require a three-pronged approach. First, we must address the tremendous shortage of homes and remove barriers to adding more supply. Without doing so we will never meet the demand for 4.6 million new apartments by 2030. Second, local governments must take the lead and find innovative, public-private partnership opportunities to bring the price point down to create more affordable housing. Third, we must use targeted subsidies to help the neediest families today.

Proposition 10 was an example of short-term, wrongheaded policy. However, it also highlights the very real affordability problems that families are facing. NMHC will continue to work to put forward creative, unique ideas and policies while remaining vigilant against proposals like Proposition 10 that would inhibit growth and deepen the affordability crisis.

For more information on California’s Prop 10 outcome, along with a deeper dive into some of the states where we expect rent control measures to play out,
check out this members-only memo.

Additionally, NMHC has a variety of other public resources on our website -- like an interactive rent control laws by state map, issue fact sheet, and more. Visit
www.nmhc.org/rent-control for more information. 

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