Author: Brad Beckett

The U.S. government is reporting that privately‐owned housing starts in November were at a seasonally adjusted annual rate of 1,256,000. This figure is 3.2% above October’s revised estimate but is 3.6% below November, 2017.   Single‐family housing starts in November were at a rate of 824k, which is 4.6% below October’s revised number.  The November rate for units in buildings with five units or more was 417k.  Privately‐owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,328,000. This figure is 5% above October’s revised rate and is 0.4% above November, 2017.  Single‐family authorizations…

The American Automobile Association (aka AAA) says that a record-breaking number of American will travel this holiday season – predicting that over 112 million people will do so.  They say more Americans will travel by car this holiday season than ever before and poeple traveling by plane will be the highest in 15 years.  Are we there yet??? “Strong economic growth fueled by robust consumer spending continues to drive strong demand for seasonal travel…”  Said Bryan Shilling, managing director, AAA Travel products and services. Click here to read the full release at AAA.com.

We have had a lot of stories about where people are moving to and perhaps more importantly, why and from what.  A recent article on Realtor.com says that America is going through a period of profound migration with some places losing while others are gaining – which is having an enormous impact on both of these respective areas (where they came from and going to).  To that end, the folks over at Realtor.com recently analyzed the data to find which metro areas are gaining the most residents and which ones that area seeing the biggest drain. Spoiler alert;  by and…

According to the latest Yardi Matrix, U.S. multifamily rents fell ever so slightly in November, dropping $2 to $1,419, while year-over-year growth fell by 10 basis points to 3.1%.  In addition they point out that rents are down $3 from the peak of $1,422 in September.  The attribute the small decline to normal seasonal fluctuations.  Indeed… “2018 is shaping up to be another solid year for the multifamily market. Rent growth for the year is 3.1%, which slightly tops our estimate—and those of most market prognosticators—coming into the year. U.S. multifamily rents have stalled in the fourth quarter, but that…

With 2019 just around the corner, Mashvisor released their list of the top 8 cities for a short-term rental investment in 2019.  Using their own data as well from Airbnb, they looked at short-term rental regulations in cities across the country to come up with their list. “Not only does it seem Airbnb investment property can operate legally in these cities, but the cash on cash return for such properties is the highest in the US.” Their top 8 cities for short-term rental investing are: Lansing, MI Tuscaloosa, AL Dubuque, IA Goshen, IN Portsmouth, VA Columbus, GA Key West, FL…

According to recent data from Redfin, U.S. home-sale prices increased 3.3% in November compared to one year ago, coming in at a median price of $298,800.  November marked the third straight month of annual home price gains under 4% after a 77-month-long streak of annual home price gains exceeding 4%.   In addition, the number of completed home sales fell faster than it has in over two years, down 8.3% from November 2017.  Home sales declined in 65 of the 74 largest metro areas that Redfin tracks. “The tide has turned,” said Redfin chief economist Daryl Fairweather. “Sellers are now competing…

You’re going to be hearing a whole lot about Opportunity Zones in the near future – if you’re not already talking about them.  They are, perhaps, one of the greatest opportunities for investors of all stripes in quite some time.  An Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment, that were created by Tax Cuts and Jobs Act on December 22, 2017.  They are an economic development tool designed to spur economic development and job creation in distressed communities. To that end, the IRS recently put out a FAQ…

Ok…as a regular reader you know that we’ve posted a whole lot about millennials, but guess who’s coming up on their heels?  Generation Z – and they approach finances way differently than their older siblings.  Are you ready for them???  Today’s infographic from Rave Reviews shows how Generation Z is perhaps taking a more pragmatic approach to their finances. Here we go…..  Happy Friday!!! Hat tip to RaveReviews.com

Over the past few years we’ve had several stories about HELOC loans (home equity lines of credit) and their potential expiration creating havoc in the housing market among current homeowners.  However, as Keeping Current Matters points out, as we’ve experienced strong price appreciation over the last last 6 years they show that homeowners are being much more responsible with their home equity this time around.  After all, according to data, over 48% of all single-family homes in the country have over 50% equity.  What a difference indeed. “When real estate values began to surge last decade, people started using their homes…

The U.S. Department of Housing and Urban Development recently announced that HUD Secretary Ben Carson will be chairing a new council, composed of 13 federal agencies, that will engage with all levels of government on ways to better use taxpayer dollars to revitalize low-income communities.  It will work to improve revitalization efforts by streamlining, coordinating, and targeting existing Federal programs to economically distressed areas, including Opportunity Zones.  The committee, known as the White House Opportunity and Revitalization Council was formed via an Executive Order from President Donald J. Trump. Charles Tassell, Chief Operating Officer of National REIA, said “In an…