Monday, December 15, 2025

On Tap Today

  • Model behavior: AI is transforming rental fraud, making scams easier to execute and detection more critical than ever.

  • Unfair housing: The U.S. Department of Housing and Urban Development is investigating Boston for alleged discriminatory housing practices.

  • Office essentials: Average daily office visits reached a five-year November high in 2025, led by Miami and rebounding tech hubs.

Marker Value Daily Change
S&P 500 (Index) 6,827.41 −73.59 (−1.07%)
FTSE Nareit (All Equity REITs) 757.43 −0.35 (−0.05%)
U.S. 10-Year Treasury Yield 4.19% +0.05 ppt (+1.21%)
SOFR (overnight) ≈3.99% ≈0.00 ppt (≈0.0%)
Numbers reflect end-of-business data from December 12, 2025.

Multifamily

Artificial intelligence is reshaping rental housing from both sides of the table. As application fraud becomes more convincing and easier to execute, even a modest fraud rate can quietly translate into lost rent, costly evictions, and operational strain for landlords already facing tighter margins.

What once required technical skill can now be generated in minutes. AI tools are producing realistic pay stubs, bank records, and even entirely fabricated identities that can slip past traditional screening, making fraud harder to spot and far more scalable across high-demand markets.

At the same time, the industry is responding with more sophisticated defenses. Layered screening, direct data verification, and AI-powered detection models are changing how operators assess risk while also creating more consistent and fair outcomes for qualified renters. The race is no longer just about stopping fraud. It is about rebuilding trust in a process that is rapidly being rewritten by technology.

Overheard

The U.S. Department of Housing and Urban Development has opened a civil rights investigation into Boston’s housing policies, alleging the city’s efforts to advance racial equity may violate federal fair-housing law by prioritizing certain racial groups in homeownership programs. Federal officials, in a letter to Mayor Michelle Wu, criticized elements of the city’s housing strategy that explicitly aim to address disparities for Black and Latino households and argue those policies could amount to unlawful discrimination under longstanding civil rights standards.

Boston’s leadership has pursued an aggressive housing agenda in recent years aimed at expanding affordable production and reducing racial gaps in homeownership and displacement risk. Those initiatives sit against a backdrop of persistent housing affordability challenges, slowing permit issuance, booming cost burdens, and entrenched income segregation across the region, all of which have shaped planning and policy decisions for local officials.vThe federal probe builds on broader tensions between the Trump administration and Boston on housing and homelessness funding, including earlier disputes over federal grant conditions and lawsuits challenging shifts in Continuum of Care program rules.

An adverse finding by HUD or a referral to the Department of Justice could chill how cities frame equity-oriented housing strategies and reshape legal interpretations of fair-housing obligations, with ripple effects on zoning, subsidy targeting, inclusionary requirements, and neighborhood investment decisions. Developers, lenders, and advocates will be watching closely to see whether this federal challenge alters the risk calculus of investing in or building equitable projects.

Placer.ai’s Nationwide Office Building Index shows that November 2025 delivered the strongest November office occupancy since 2019 when measured by average visits per working day, even as total visits remained well below pre-pandemic levels. Because November 2025 had fewer working days than recent years, daily attendance provides a clearer picture, and on that basis office use reached a five-year high.

Regional divergence continues to widen. Miami maintained its lead in the office recovery and pulled further ahead of New York, supported by corporate relocations, growth in professional services, and a car-dependent commute culture that is less affected by seasonal weather. New York, meanwhile, saw attendance ease as colder conditions and transit-heavy commutes reduced in-office days.

Tech-driven markets are increasingly leading the rebound. San Francisco posted some of the strongest year-over-year gains nationwide, signaling a meaningful turnaround after deep pandemic-era declines, likely aided by renewed tech hiring tied to the AI boom. Denver, Chicago, and Boston also recorded solid gains, though all remain below pre-pandemic attendance levels.

At the same time, local economic and policy factors are shaping outcomes. Houston and Washington, D.C. both saw year-over-year declines, reflecting energy-sector softness and the spillover effects of a federal government shutdown. Overall, the data highlights how city-specific dynamics are now playing a decisive role in shaping the future of office attendance.

Popular Articles

Are You Enjoying This Newsletter?

Propmodo Daily is written and edited by Franco Faraudo with contributions from readers like you and the Propmodo team.

📧 Forward it to a friend and suggest they check it out.

🔗 Share a link to this post on social media.

🗣 Have ideas for future topics (or just want to say hello)? Share your feedback and tips at [email protected] or connect with us on X through @propmodo.

Not subscribed yet? Sign up for this newsletter here.

📫 Please add our newsletter email, [email protected], to your contacts to make sure you don’t miss any updates.

Enjoy reading about trends and innovation in commercial real estate? Subscribe to Propmodo.com for unrestricted access to reliable, data-driven journalism and exclusive insights available only to subscribers.

Keep Reading