Author: Brad Beckett

RENTCafe is reporting that the average apartment rent for January came in at $1,463, up 3% from one year ago.  RENTcafe gathers their data from the Yardi Matrix, the U.S. Census Bureau, the U.S. Bureau of Labor Statistics, the U.S. Department of Housing and Urban Development and other public (government and third-party) databases. “Rents are likely to maintain an upward streak throughout 2020, as the number of renters continues to rise in the U.S. The demand for apartments is high, including among those renting by choice.” Click here to read the full report at RentCafe.com.

This might be good news if you’re a landlord:  A recent survey from FreddieMac reveals that affordability issues remain a top concern for those looking to rent or purchase a home.  However, the survey found that 84% of renters (which they call unprecedented) say renting is more affordable than owning AND a majority of renters (62%) say they are satisfied with their current rental experience.  Interestingly, 73% of renters feel that minor or no renovations should be made to their rental property – which FreddieMac says is a strong sign that they’re happy with their current rental.  Indeed…. “while vast…

Generation Z might be sneaking up on us but mark our words, they will not be ignored.  We have had a few posts about this rising cohort and now we’re starting to see them enter the housing market.   A recent report by Realtor.com looks at recent mortgage origination data to give us a snapshot of each generation’s share of homebuying.  There is a lot of good data in this report including a list of the largest 100 metros, ranked by Generation Z’s Home Loan Origination Share. Some takeaways The Generation Z share of primary home loan originations is about 2%…

Marijuana legalization is a “burning” topic all across the country.  We have even had several posts on the subject.  However a new report from the National Association of Realtors seeks to shed light on legalization’s impact on the real estate industry.  They point out that in states where marijuana is legal, the product is grown, harvested, stored, sold, and consumed within the state lines.  And as such, this activity increases demand for land, warehouses and retail locations for the product.  In addition, they discuss the issue of marijuana being used in rental properties, HOAs creating rules, and title questions about…

Monday, February 17th is President’s Day.  And since real estate investors all know that “cash is king,” today’s infographic from NerdWallet reminds us that the cash we carry (with a few exceptions) has portraits of our most revered Presidents.  Have a Happy President’s Day and of course, Happy Friday!!!! Hat tip to NerdWallet.

We have seen from recent moving data that Idaho is the top moving destination for folks seeking an interstate relocation.  And, if you’ve ever been there you can hardly blame them – the state is gorgeous.  A recent story in the Wall Street Journal (reposted on Realtor.com) takes a look at a small town in Idaho experiencing rapid growth in population, mostly from California transplants. “…Over the past nine years, Star’s population has doubled to more than 10,000. Most of the growth has come from people like the Turnipseeds who uprooted from the West Coast to the greater Boise area—known…

According to new research from Zillow, the combined value of every residential home in the United States was $33.6 trillion at the end of 2019, up 3.4% ($1.1 trillion) from a year ago and 51% ($11.3 trillion) from the start of the decade.  Not only that, but the growth in 2019 alone was higher than the entire 2018 GDP of all but 15 nations.  Indeed… “In 2010, the U.S. housing market was struggling to regain its footing in the wake of one of the largest economic and housing downturns on record. But a decade of economic recovery marked by low…

Late last month, the city of Oakland, California passed an ordinance prohibiting landlords from asking about a potential tenant’s criminal history or even rejecting them for having a criminal record.  As reported by the LA Times, Oakland’s ordinance is “the strictest of its kind in the state, covering both public and private housing.”  In addition, the ordinance has exemptions for single-family homes, duplexes, triplexes and “in-law” units if the owner resides on the premises.  Also exempt are owners of government-subsidized housing (including Section 8 vouchers) which federal law requires the exclusion of certain renters based on criminal records. “The measure…

According to recent census data, the share of single-person households has been significantly rising in America’s largest cities.  A recent report from Point2Homes (a division of Yardi) says that residents from established urban areas are increasingly living on their own.  Indeed, there is also a multiplying effect: “The high, and increasing demand for housing in some of the busiest, densest American cities sends both home prices and rents into the stratosphere, pushing out many of the residents who can no longer keep up; this leads to a more scattered workforce and to cities losing their sense of community and continuity.”…

We have been covering the ill-effects of rent-control for some time now.  Recently, the National Multifamily Housing Council issued an analysis of 2019’s housing market as well as looking forward into 2020.  They rightly say that rent-control is an “existential threat to the industry” that needs to be a top priority.  To that end, they identified anticipated threats across the nation.  Indeed… “Housing affordability has always been an issue for our country, but its spread beyond the coasts and to middle-income households has increased momentum behind calls for rent control and other draconian measures as a “quick fix” to the…