Author: Brad Beckett

Google is planning some big investments across America this year. In a recent blog post, Sundar Pichai, CEO of Google and Alphabet, announced plans to invest approximately $9.5 billion in their U.S. offices and data centers in 2022. Their projections indicate that at least 12,000 new full-time Google jobs will be created by the end of the year, and thousands more among their local suppliers, partners and communities. Indeed… “Google’s offices and data centers provide vital anchors to our local communities and help us contribute to their economies. In the U.S., over the past five years, we’ve invested more than…

The NAHB’s Eye on Housing says that, compared to one year ago, average hourly earnings for residential building workers continue to rise even as the construction labor market remains tight.  Citing data from the Bureau of Labor Statistics (BLS), they report that average hourly earnings (AHE) for residential building workers was $28.66 in February, 2022 which is 6% from one year ago.  This data accounts for approximately two-third of the total employment in residential building industry.Click here to read the full report at the NAHB’s Eye on Housing.

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) was up 1.2% in March, 2022.  However, the all items index was up 8.5% for the 12 months ending in March, continuing a 40-year high streak.  See chart below. “Increases in the indexes for gasoline, shelter, and food were the largest contributors to the seasonally adjusted all items increase…” Click here to read the full release at the Bureau of Labor Statistics.

According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents in March increased $14 to an all-time high of $1,642 (up 14.8% year-over-year).  Yardi says while demand is expected to remain healthy, rent growth is likely to decelerate as concerns grow about the economy. “The big picture that emerges from March multifamily data is that the market remains healthy, though signs point to the inevitable deceleration in some markets.” [HOWEVER] “Rent growth continues to be a national phenomenon, led by the migration to the Southeast and Southwest. The top five metros—Miami, Orlando, Tampa, Las Vegas and Phoenix—all…

According to ATTOM’s Year-End 2021 U.S. Home Flipping Report, the number of single-family homes & condos flipped in the U.S. in 2021 was up 26% from 2020 – the highest since 2006. In addition, they report that home flips represented 5.5% of all U.S. home sales in 2021, down from 5.8% in 2020 and 6.1% in 2019. Click here to read the full report at ATTOMdata.com.

Sunday, April 17th is Easter.  Each year the holiday falls on the first Sunday following the full moon after the vernal equinox.  The date fluctuates each year between March 22 and April 25.   Today’s infographic from the dataviz blog takes a look at “Easter by the Numbers” all the way from the resurrection of Jesus Christ to the number of chocolate Easter bunnies consumed annually.  Stay safe and have a Happy Easter and a Happy Friday!!! So what exactly is Easter?  The History Channel says: “Easter is a Christian holiday that celebrates the belief in the resurrection of Jesus Christ.…

According to the latest CoreLogic Home Price Insights (HPI) report, home prices nationwide, including distressed sales, increased 20% year-over-year in February.  On a month-over-month basis, home prices increased by 2.2% in February compared with January.  CoreLogic’s  HPI Forecast predicts home prices will increase on a year-over-year basis by 5% from February 2022 to February 2023.  Indeed… “New listings have not kept up with the large number of families looking to buy, leading to homes selling quickly and often above list price. This imbalance between an insufficient number of owners looking to sell relative to buyers searching for a home has…

Local Market Monitor, a National REIA preferred vendor, recently released their monthly National Economic Outlook where they share their thoughts on developments taking place in the U.S. economy. National Economic Outlook By Ingo Winzer April 2022 The surge in home prices continues to dominate developments in real estate markets. Even though the largest jump in prices probably has already occurred, further increases will take place in 2022 and into 2023, leaving prices in most markets well above the level that local incomes can support. Even if the war in Ukraine doesn’t pull the US economy back into a recession, these…

In late March, 30-year mortgage rates experienced their largest 3-month increase since May 1987 – up 1.56 percentage points since the end of 2021.  A recent chart shared on twitter by Len Kiefer, Deputy Chief Economist at Freddie Mac, who helps “people understand the economy, housing, and mortgage markets” illustrates these increases going back to 1987. Click here to read more at LenKiefer.com.

On a recent episode of Omaha REIA’s “REIA Radio,” hosts Ted and Owen talk with Ryan Basye about the importance of creating long-lasting relationships in this industry due to the fact that investors often run across the same people – especially with Omaha being “a big small town”. Basye shares the knowledge that he has gained over the 12+ years as both and investor himself and a realtor for other investors.  In addition, he discusses the current need for transitional housing and his non-profit, OnDeck Housing.  This one is is worth a listen… Click here to listen on Spotify. …