Author: Brad Beckett

According to ATTOM’s 2023 Property Tax Analysis, for 89.4 million U.S. single family homes, $363.3 billion in property taxes were levied on single-family homes in 2023. That figure is up 6.9% from 2022, and almost double the 3.6% growth seen in 2022.  In 2023, the effective tax rate nationwide was 0.87 percent. In 2022 that figure was 0.83 percent.  ATTOM says that states with the highest effective property tax rates in 2023 were Illinois (1.88%), New Jersey (1.64%), Connecticut (1.54%), new York (1.46%), and Nebraska (1.46%). “Property taxes took an unusually high turn upward last year, pushing effective rates up,…

A new report from Redfin says that more Baby Boomers are staying put in their homes, versus downsizing and selling.  In fact, they found that over than three-quarters (78%) of older American homeowners plan to stay in their current home as they age – which they say is the most common aging plan for older homeowners.  This in turn is a contributor to the to the current shortage of homes for sale.  Their data came from a Redfin-commissioned survey of 3k U.S. homeowners and renters conducted by Qualtrics in February 2024. “The fact that the vast majority of baby boomer…

Airbnb has recently updated their Major Disruptive Events policy.   According to a release, the Policy applies to reservations for both accommodations and Experiences, and is applicable to reservations that are ongoing or that have a check-in on or after the effective date, except as otherwise notified by Airbnb to users. In addition they say the Major Disruptive Events Policy is not an insurance policy.  The new Policy will apply to all reservations taking place on or after June 6, 2024, except as otherwise notified by Airbnb to users.  If you have Airbnb investment properties be sure to fully understand…

A recent report from the NAHB’s Eye on Housing says that due to tightened monetary policy, the count of total job openings for the entire economy has trended lower over the last year. They say this is consistent with a cooling economy that is a positive sign for future inflation readings. However, they point out that the recent increasing trend for unfilled construction jobs indicates an ongoing skilled labor shortage for the construction sector.  Indeed… “The number of open construction sector jobs increased for the most recent data, rising from 425,000 in January to 441,000 in February. The count was…

According to Apartment List’s National Rent Report for April 2024, national median rent rose 0.6% to $1,388.  They say the turnaround is in line with the rental market’s typical seasonal pattern, as it transitions into the time of year when moving activity starts to gradually pick back up after bottoming out around the holidays.  Indeed… “Rent growth follows a seasonal pattern – rent increases generally take place during the spring and summer, whereas the fall and winter usually see a modest price dip. We are currently transitioning into the busy season, with the national median rent increasing for the second…

According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rent was $1,721 in march, 2024.  Yardi says multifamily rents recorded their largest gain in 20 months, which they say signals a normal seasonal growth pattern.  Indeed… “March’s multifamily data should provide some level of comfort for the many market observers worried about the sector’s performance this year owing to slowing economic growth or the robust supply pipeline.” Click here to read the full report at Yardi.

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4% in March, 2024.  The all items index was up 3.5% for the 12 months ending in March.  The index for shelter and gasoline rose again in March. The BLS says that, when combined, these two indexes contributed over half of the monthly increase in the index for all items. Click here to read the full release at the Bureau of Labor Statistics.

We have had several posts about the problems with growing credit card debt and delinquency rates.  Citing data from WalletHub, today’s graphic from the Visual Capitalist shows credit card delinquency rates across the U.S.  As always, have a safe and Happy Friday!! “Credit card debt carries a hefty bill in America, and falling behind on payments can be extremely costly for cardholders.” Hat tip to the Visual Capitalist.

A while back, we posted about homeowner’s buying do-it-yourself fallout shelters, now comes a recent story from Realtor.com that says more homeowners are installing bunkers and safe rooms in their homes.  They say with a growing list of global & domestic concerns, people are reaching out to bunker and safe room companies about installing them in their homes.  Interesting they report that officials from these companies say interest is up 30% to 50% this year alone. “You have people who feel unsafe, and the politics definitely play a huge role,” says Bill Fulton, co-author of “Survive and Thrive: How To Prepare…

On a recent episode of the Rental Property Owner & Real Estate Investor Podcast, Brian Hamrick talks with Howard Bynder, an expert on HVAC systems who shares practical tips for choosing the right one for your property, finding the best HVAC contractor, and rebates and incentives that might be available in your area. “Anyone who owns rental property can tell you that one of the systems you must pay attention to is your heating and air conditioning system—commonly referred to as your HVAC system.” Click here to listen online.