Author: Brad Beckett

The National Multifamily Housing Council (NMHC) says that 77.4% of apartment households made a full or partial rent payment by July 6th.  This figure represents a 2.3 percentage point decrease in the share who paid rent through July 6, 2019 and compares to 80.8% that paid by June 6th.  The  data comes from the NMHC’s Rent Payment Tracker which uses data from 11.4 million professionally managed apartment units across the country. “It is clear that state and federal unemployment assistance benefits have served as a lifeline for renters, making it possible for them to pay their rent,” said Doug Bibby,…

According to the latest CoreLogic Home Price Insights (HPI) report, home prices nationwide, including distressed sales, increased 4.8% year-over-year in May, up 3.6% from May 2019.  CoreLogic says strong demand, especially by younger home buyers, and low supply helped push home prices higher in May.  Last month they cautioned that 2021 would mark the first year home prices are expected to decline in more than nine years, due to the Coronavirus pandemic.  In this month’s report, they stood by that prediction saying that home prices will decrease on a month-over-month basis by 0.1% from May 2020 to June 2020, and…

According Black Knight’s latest Mortgage Monitor, May saw the overall delinquency rate hit its highest level in 8.5 years, with serious delinquencies on the rise as well as the number of homeowners 90+ days past due increasing by more than 50% over the past two months.  However they do point out that while May’s delinquency numbers illustrate the level of hardship imposed by COVID-19 on American homeowners, daily payment data for June provides some degree of optimism.  Indeed… Click here to read the full report at Black Knight.

Just three years ago we posted about how foreign buyers spent a record $153 billion on homes in the U.S.  Now, along comes a report from the Wall Street Journal (reposted on Realtor.com) that says foreign buying of U.S. homes is drying up.  Citing data from the National Association of Realtors, they report that already slowing demand was accelerated by the Coronavirus pandemic – especially when you factor in new travel & immigration limitations – which further weakened demand.  Indeed… “Foreigners represent a tiny percentage of overall buyers. But because they have tended to cluster in coastal cities like New…

According to recent data from the Associated General Contractors of America, construction employment increased by 158k jobs in June, with most of the gain concentrated in home-building.  However, employment related to infrastructure experienced a decline.  The AGC said additional infrastructure-building job losses would be inevitable unless state & local budgets for roads and other public works are replenished. “The gain in construction employment in June was concentrated in homebuilding, with scattered increases in nonresidential building, while heavy and civil engineering construction employment—the category that includes many highway and other infrastructure workers—shrank by nearly 10,000 jobs…” Click here to read the…

On a recent issue of the Rental Property Owner & Real Estate Investor Podcast, Brian Hamrick talks with Kris Benson, the chief investment officer for Reliant Investments, about one of the asset classes that’s expected to hold up well during the Coronavirus Pandemic, self-storage.  Brian and Kris take a look at the factors that make self-storage attractive to help you understand how to successfully invest in this sector.  Kris also discusses what it takes to put together a $50 Million fund and how he raises money from investors. “One of the asset classes that’s expected to hold up well during…

The U.S. government is reporting that total construction spending in May was at a seasonally adjusted annual rate of $1,356.4 billion, which is 2.1% lower than April’s revised estimate.  However, May’s figure was 0.3% higher than May, 2019.  Residential construction was at a seasonally adjusted annual rate of $535.9 billion in May, which is 4% lower than April’s revised estimate. Click here to read the full report at the U.S. Census Bureau.

This weekend, on July 4th, America celebrates 244 years of independence!  Today’s infographic takes a quick look at the Fourth of July to provide a nice little snapshot about the holiday we Americans hold dear.  Whatever you do to celebrate, do it safely and have fun….Happy Friday!!! “On July 2nd, 1776, the Continental Congress voted in favor of independence, and two days later delegates from the 13 colonies adopted the Declaration of Independence, a historic document drafted by Thomas Jefferson. From 1776 to the present day, July 4th has been celebrated as the birth of American independence, with festivities ranging…

According to just released U.S. government data, June saw a record increase in jobs coming in at 4.8 million, as the U.S. economy continues to roar back to life.  According to CNBC, June’s total is easily the largest single-month gain in U.S. history and “smashed expectations.”  In addition, they pointed out that economists surveyed by Dow Jones had only been expecting an increase of 2.9 million.  Indeed…. “Today’s announcement proves that our economy is roaring back. It’s coming back extremely strong,” President Donald Trump said in a news conference about an hour after the numbers were released.” Click here to…

Rental information site Zumper recently released their National Rent Report for July, 2020 showing that the median national rent for 1-bedroom apartment was $1,229 (up 1%) and the median two-bedroom rent was $1,485 (up 0.8%).   Year to date, both one- and two-bedroom rents were up 0.4%.  Interestingly, they point out that people are moving away from big expensive cities – a trend we have been seeing in from several sources: “…As the pandemic persists on, the demand for rentals has continued to shift away from these pricey areas and a significant amount of that demand seems to be moving toward…