Author: Brad Beckett

According Black Knight’s latest Mortgage Monitor, 7.3% of all mortgages in America were in forbearance, representing 3.8 million homeowners.  However they do report that as of April 15 the daily number of new forbearance requests began to taper off.  Black Knight says the slowdown in new forbearance requests has the mortgage market proceeding on pace with their most optimistic scenario forecast.  Indeed… “…What remains an open question at this point is to what degree forbearance requests will look like at the beginning of May – when the next round of mortgage payments become due, and with nearly 30 million Americans…

We often post about where people are moving around the country – it’s good data.  The folks over at Apartment List recently released their Renter Migration Report for the 2nd quarter.  To come up with their numbers, they analyzed searches form their website to see where users were preparing to move.  Interestingly, they point out that this particular report takes on added significance as it provides an early glimpse into how  trends might be affected by the COVID-19 pandemic.  Indeed… “This mix of urgency and uncertainty reflects the unprecedented nature of the current situation. On one hand, it seems that…

The National Multifamily Housing Council (NMHC) says that 80.2% of apartment households made a full or partial rent payment by May 6th. This figure is a 1.5-percentage point decrease in the share who paid rent through May 6, 2019 and compares to 78.0% that had paid by April 6, 2020.  The  data comes from the NMHC’s Rent Payment Tracker which uses data from 11.4 million professionally managed apartment units across the country. “Despite the fact that over twenty million people lost their jobs in April, for the second month in a row, we are seeing evidence that apartment renters who…

Like most Americans you probably use many apps/programs on your phone and computer.  Normally, when installing those apps or programs, a little box comes up with an incredible amount of fine print and an “agree” or “disagree” button.  Yes, these are the so-called terms of service that accompany almost everything digital we touch nowadays. Today’s inforgraphic from the Visual Capitalist asks if you actually take the time to read the “terms of service” before you hit agree when downloading the latest app or software?  Of course you do…Stay safe and Happy Friday! Hat tip to the Visual Capitalist.

We are two months into the Coronavirus pandemic and Apartment site RentCafé is now reporting that renters are back to searching for apartments.  In fact, they say the numbers have returned to pre-pandemic levels.  They report that from the end of March into April, searches have been growing from one week to the next.  Indeed… “…The bounce-back and realignment of apartment searches with typical seasonal trends are positive indicators that consumer optimism is returning.” Click here to read the full report at RentCafé.

Short-term rental site Airbnb recently announced that they are developing a new Cleaning Protocol for hosts.  Their Enhanced Cleaning Initiative uses guidance from former US Surgeon General Dr. Vivek Murthy and leading experts in hospitality & medical hygiene.  The new protocol launches in May and will include specific information on COVID-19 prevention, such as the use of personal protective equipment, like masks and gloves for hosts or their cleaners, as well as disinfectants that are approved by regulatory authorities.  In addition, Airbnb says a CDC recommended 24 hour wait period before entering will also be also required, as a precaution…

One of the largest lenders in America, Wells Fargo,  announced in early May that it temporarily stop accepting applications for home equity lines of credit (HELOCs) due to the uncertainty around the Coronavirus pandemic.  As reported by CNBC, the bank said that that HELOCs are riskier products for banks because during foreclosure, the lender for the primary mortgage would be first in line to get paid in a recovery.  Wells Fargo joins JP Morgan Chase who made a similar decision a few weeks earlier. “Wells Fargo Home Lending will temporarily stop accepting applications for all new home equity lines of…

According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), U.S. house prices were up 0.7% in February, 2020.  In addition, they report that home prices were up 5.7% from one year ago.  The FHFA produces the nation’s only public, freely available house price indexes (HPIs) that measure changes in single-family house prices based on data that cover all 50 states and over 400 American cities and extend back to the mid-1970s.  The FHFA’s HPIs are built on tens of millions of home sales and offer insights about home price fluctuations at the levels of the nation,…

The Coronavirus pandemic has taken a heavy toll on people and businesses all across the nation.  It seems like daily we see doom & gloom stories about the economy and effects of the Covid-19 disease on everyday Americans.  However, a REIA-leader from St. Louis’s Metro-East REIA recently shared a note with us that a landlord passed along to her.  The note is from one of his tenants that included an extra $100 for “another tenant who isn’t as fortunate.”  The kindness and generosity of someone’s simple action can be a humbling experience.  It can serve as a reminder that there…

National apartment listing site ABODO recently reported that the median nationwide rent price for one-bedroom units in May was $1,092 with two-bedroom units coming in at $1,347.  They see no double-digit winners or losers on any of our top ten lists, which they say is indicative of a flat market. “Right now, we are looking for apartment rents trends to continue to flatten or even to dip more significantly as the pandemic plays out.” ABODO uses over 1 million listings across the United States to calculate the median 1-bedroom rent price by city, state, and nation and then track the…