Author: Brad Beckett

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…

Remodeling Magazine recently released their 33rd annual Cost vs. Value Report comparing 22 remodeling projects & upgrades with the value they retain when the property is sold in 101 U.S. housing markets.  Interestingly, they say this year’s numbers show a slight downturn on the ROI for nearly all projects relative to the trends in 2019’s report.   Indeed… “Why the difference? The most likely answer is consumer jitters. While remodeling professionals need to stay on point, they can breathe easy. Remodeling activity is growing at a slower rate than in years past, but it continues to grow (see the Q3 RRI…

The Wall Street Journal (reposted on Realtor.com) is reporting that the nation’s builders are on track to finish more new apartments in 2020 than in any year since the 1980s, however data from RealPage shows these new units are trending toward the higher end.   According to the report, upwards of 371k new rental units are expected to come online this year –  which is 50% higher than the number of new units completed in 2019.  In addition, RealPage also says that the gap between luxury rental properties and those “one rung lower” is increasing. “State and local governments are grappling…

One of the many challenges of posting photos on social media is how to size or even resize them.  It can be a mystery at best and an exercise in frustration at worst.  Never fear, the folks over at ConstantContact recently put together this handy chart for all of the main social media platforms.  Happy posting….and Happy Friday!! Hat tip to Constant Contact.

National apartment listing site ABODO recently reported that the median nationwide rent price for one-bedroom units in February was $1,090 with two-bedroom units coming in at $1,348.  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 month-over-month percentage change. To avoid small sample sizes, they restrict their analysis to cities meeting minimum population and property count thresholds. Be sure to check out their extensive city list. Click here to read the full report on ABODO.com.

The U.S. government is reporting that total construction spending in December was at a seasonally adjusted annual rate of $1,3277.7 billion, which was 0.2% lower than November’s revised estimate. However, December’s figure is 5% higher than December, 2018.  Residential construction was at a seasonally adjusted annual rate of $540.7 billion in December, up 1.4% from November’s revised rate. Click here to read the full report at the U.S. Census Bureau.

We recently posted moving data from Atlas Van Lines, now it’s United Van Lines’ turn.  According to their 43rd annual National Movers study, Idaho had the highest percentage of inbound migration, which marks their first time leading the list in over 25 years.  As for the outbound leader, that honor goes once again to New Jersey, with 68.5% of their moves in the outbound category.  In addition, United reported that Baby Boomers moved than any other age group in 2019.  Indeed…. “Key factors like the Baby Boomer generation re-locating upon reaching retirement age as well as states’ economic performances and…

Rental information site Zumper recently released their National Rent Report for February, 2020 showing that the median national rent for 1-bedroom apartment was $1,220 (up 0.3%) and the median two-bedroom rent was $1,464 (up 0.3%).   Year to date, one bedroom prices are flat and two bedroom prices are up 0.7%.  Zumper analyzes rental data from over 1 million active listings across the United States. Data is aggregated on a monthly basis to calculate median asking rents for the top 100 metro areas by population, providing a comprehensive view of the current state of the market. The report is based on…