Author: Brad Beckett

FortuneBuilders reminds us that buying property to upgrade and then sell it for a profit is an excellent way to make money and build wealth.  Today’s infographic offers up a handy checklist to quickly estimate repairs on that potential flip.  Stay safe and have a Happy Friday!!! “This process, also known as real estate rehabbing, consists of finding a property, assessing all areas, making the necessary repairs, marketing the property, and selling the property for, hopefully, a profit. You are probably familiar with this real estate exit strategy from popular TV shows on HGTV; however, the process is not as…

According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rent in September was $1,463.  Summing this up Yardi, says that since the beginning of the pandemic, overall rents have only been up or down by a few dollars each month with an overall national rent decline of $8 since February.  Indeed… “As we move into the fall and winter months, the return to normal remains slow and volatile. Political disruptions are causing further uncertainty, and consumer confidence fell to its lowest level in more than six years in August.” [HOWEVER] “With the extreme uncertainty surrounding the country…

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% in September.  Like last month, they point out that the index’s sharp rise for used cars & trucks accounted for most of the increase.  Over the past 12 months, the all items index has increased 1.4% before seasonal adjustment. Click here to read the full release at the Bureau of Labor Statistics.

According to research from the NAHB’s Eye on Housing, the median lot size for homes sold in 2019 dropped to 8,177 square feet, or 0.188 of an acre – which they say is the first time this has happened since the Census Bureau began collecting this data.  The NAHB says the shrinking median lot size largely reflects the shift in speculatively built (or spec) home building towards smaller lots.  Interestingly, they point out that sizes still vary by region: “While the nation’s production of spec homes shifts towards smaller lots, the regional differences in lot sizes persist. Looking at single-family…

The CDC recently issued a set of FAQs (frequently asked questions) offering “non-binding” guidance with respect to their recent “Temporary Halt in Residential Evictions to Prevent the Further Spread of COVID-19” moratorium.  This order temporarily halted residential evictions of covered persons for nonpayment of rent September 4th through December 31st, 2020. National REIA’s Charles Tassell said “Numerous voices of a nationwide housing coalition have prevailed upon the CDC to, at a minimum, clarify their September 4th eviction moratorium edict. While there are numerous lawsuits currently in place, and additional clarifications that will be forthcoming, it is vitally important for landlords…

A recent essay in NY’s Daily News asserts that “landlords are people too” and addresses some of the current misdirected rage against landlords – most of whom are mom & pop operations – as well as dispelling the myths that landlords are both uncaring and rich.  As readers well know, those notions are both dangerous and flat out incorrect.  As the author, Charlotte Laws, points out, most landlords faithfully make repairs and don’t want to evict anyone because having an empty unit leaves the property owner with a loss of income (among other things).  She emphatically says that if small…

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 (October, 2020)  In April, the number of jobs in the economy sank an unheard of 13 percent compared to last year. By July the loss was ‘only’ 7.7 percent and the possibility of a further quick recovery seemed possible as states re-opened their economy. But in August the loss was still 6.9 percent and now in September still 6.4 percent. The monthly improvement is becoming smaller…

Airbnb says that “trust is the real energy source” that drives them and part of maintaining that trust has been through implementing smart community policies and new technologies to protect their hosts, guests, their homes and neighborhoods.  With that in mind, Airbnb recently issued a new policy prohibiting one-night reservations over the upcoming Halloween weekend for entire home listings in the United States or Canada.   In addition, they have also implemented high-risk detection systems that will flag potentially problematic reservations for a manual review. Airbnb says they have already identified and proactively cancelled nearly 9k high-risk reservations in the U.S.…

Black Knight is reporting that during the first week of October, active mortgage forbearances fell 649k, representing an 18% reduction from the prior week and the largest single-week decline since the start of the pandemic. In addition, their McDash Flash Forbearance Tracker shows the national forbearance rate coming in at 5.6%, down 1.2% from the week before. As of October 6th, there are 2.97 million homeowners in COVID-19-related forbearance plans, representing $614 billion in unpaid principal. “Though the market continues to adjust to historic and unprecedented conditions, these are clear signs of long-term improvement…” Click here to read the full…

The Visual Capitalist reminds us that millions of Americans eat fast food every day – and some of us might even eat too much of it!  Today’s infographic takes a look at the venerable fast food industry and illustrates the 50 largest fast food chains by revenue.  As you might have suspected, McDonald’s is king of the pile.  Stay safe & healthy and have a Happy Friday! Hat tip to the Visual Capitalist.