Author: Brad Beckett

The U.S. Government is reporting that privately owned housing starts in October were at a seasonally adjusted annual rate of 1,290,000.  This is 13.7% above the revised September estimate of 1,135,000, but is still 2.9% below the October 2016.  Single-family housing starts in October were at a rate of 877k, 5.3% higher than September’s figure. The October rate for units in buildings with five units or more was 393k.  Privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,297,000. This is 5.9% higher than September’s revised rate and 0.9% above October 2016. …

Water….we all drink it, we all must have it and if you’re a landlord it might be included with the rent.  The NAHB’s Eye on Housing, using data from the U.S. Geological Survey (USGS), recently crunched the numbers to show that the residential sector accounts for less than 8 percent of all water used in the U.S.  Interestingly, the USGS release shows that, in 2010, residential water use totaled 27,400 million gallons per day (Mgal/d). Click here to read the full story at the NAHB’s Eye on Housing.

MarketWatch is reporting that household debt rose $116 billion (0.9%) in Q3 of 2017 to $12.96 trillion.  Citing data from the Federal Reserve Bank of New York, they also reported that credit card debt rose 3.1% and HELOC’s (home equity lines of credit) fell 0.9%. Click here to read the full story on MarketWatch.com.

AAA says over 50 million Americans will travel 50 miles or more this Thanksgiving – this is 3.3% higher than last year and the highest number in 12 years!  We at National REIA hope you & your family have a safe & happy Thanksgiving Day weekend.  And, of course….Happy Friday! Click here to read the full travel forecast on AAA.com.

In their latest Loan Performance Insights Report, CoreLogic is reporting that August’s foreclosure inventory rate was 0.6%, the lowest monthly rate since August 2016 when it was 5.2%.  They also reported that in August, 4.6% of mortgages were in some stage of delinquency representing a 0.6 percentage point year-over-year decline in the overall delinquency rate compared with August 2016 when it was 5.2%. “Serious delinquency and foreclosure rates are at their lowest levels in more than a decade, signaling the final stages of recovery in the U.S. housing market,” said Frank Martell, president and CEO of CoreLogic. “As the construction…

In her latest Real Estate News for Investors, Kathy Fettke reminds us that winter season is fast approaching which means property owners and managers should make sure their rentals are ready for bad weather. Freezing temperatures along with cold rain and snow can create a lot of trouble if you’re not prepared. It’s also a great time to check in with your tenants.  Now is a great time to do some seasonal maintenance before the worst of the weather hits us. If you live in states with freezing temperatures and snow, it’s especially important to prevent the freezing of pipes,…

Local Market Monitor (a National REIA preferred vendor) recently released their National Economic Outlook for October, 2017 where they share their thoughts on developments taking place in the U.S. economy. National Economic Outlook – November 2017 November 14, 2017 By: Ingo Winzer Local data for October aren’t available yet, but the overall effect of the hurricanes in Texas and Florida on jobs will probably be transient. Overall, jobs in the US in October were up 1.4 percent from last year, up from 1.2 percent in September and in line with previous months. This doesn’t mean the affected local markets will…

You may have heard about Vinyl records making a big comeback, but did you know that according to recent data from the Census Bureau vinyl is the most widely used primary exterior on new homes?  Indeed,  the NAHB’s Eye on Housing blog says that vinyl (including vinyl-covered aluminum) was the most common primary exterior wall material on new single-family homes started in 2016, followed by stucco, brick or brick veneer, fiber cement siding (like Hardiplank or Hardiboard) and then at the bottom with wood, stone, rock or other stone materials. Click here to read the full story.

A recent article in the Wall Street Journal (and posted on Realtor.com) says Rising homeownership among millennials is affecting the rental market, which has declined after a long run over the past 7 years.  In fact, they cite Homeownership rising to its highest levels since 2014 which is causing analysts & investors to wonder whether the good times might be over for the rental market. “For most of the current economic expansion, declining ownership rates have enabled landlords of apartments and single-family homes to raise rents far faster than the pace of inflation. Demand has been fueled by…

Legitimate service animals can be an incredible game-changer for people with disabilities and a serious issue for landlords, however a recent article from USA Today discusses the growing problem of people using fake service animals  to get preferential treatment or some other self-centered desire.  According to the report, 19 states (so far) have enacted laws cracking down on people who attempt to pass off their regular pets as service animals. “People who pass off their dogs as service animals in order to take them into stores, restaurants, libraries, sporting events and offices are a real problem, he said, for the…