On a recent episode of the Rent Perfect podcast David Pickron says incidents of squatters are on the rise around the country, and may coming to your home soon. He provides insight on what to do if you find that squatters have occupied your property. Click here to listen on Spotify.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
According to the NAR, FEMA is proposing federal legislation with a new condition for states to continue participating in the National Flood Insurance Program (NFIP). To participate, state legislatures would be required to adopt and mandate a real estate disclosure form with specific flood-related questions. The NAR has concerns about the benefits and costs of this proposal as well as the accuracy of the supporting basis study. To that end, they hired the Legal Research Center to conduct a more complete, thorough, and accurate survey of existing state disclosure requirements and to publish a Flood Disclosure Reporter for Congressional, state,…
According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rent was $1,718 in October, 2023. Yardi says demand for apartments remains robust, and is in line with the surprisingly strong economy and with homeownership increasingly out of reach as mortgage rates soar. “Multifamily demand remains strong, as the U.S. economy continues to confound prognosticators. Despite rising interest rates that led to consensus forecasts of a near-certain recession in 2023, GDP rose by 4.9% in the third quarter and the economy averaged almost 300,000 new jobs per month through October.” “Now the question is whether the economy’s performance…
The venerable AAA says it’s time to “buckle-up” this Thanksgiving as they say over 55.4 million people will be traveling – up 2.3% from 2022. They expect this year to be the third busiest for Thanksgiving travel since AAA started tracking this data in 2000. “For many Americans, Thanksgiving and travel go hand in hand, and this holiday, we expect more people on the roads, skies, and seas compared to 2022…Travel demand has been strong all year, and AAA’s Thanksgiving forecast reflects that continued desire to get away and spend time with loved ones” Said Paula Twidale, AAA’s Senior Vice…
The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in October, 2023. The all items index was up 3.2% for the 12 months ending in October. The index for shelter continued to rise in October, offsetting a decline in the gasoline index and resulting in the seasonally adjusted index being unchanged over the month. Click here to read the full release at the Bureau of Labor Statistics.
The U.S. government is reporting that privately‐owned housing starts in October were at a seasonally adjusted annual rate of 1,372,000, which is 1.9% higher than September’s revised number but is 4.2% lower than one year ago. October’s rate for units in buildings with five units or more was 382k. Privately‐owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,487,000, which is 1.1% higher than September’s revised number and is 4.4% lower than one year ago. Authorizations of units in buildings with five units or more were at a rate of 469k in…
Next week is that annual American holiday of giving thanks to the Almighty for all that makes this nation great. Today’s graphic from WalletHub takes an in-depth look at Thanksgiving’s humble roots and how it has evolved over time – from how much we spend to how much we eat. As always, stay safe and Have a Happy Friday – as well as a wonderful Thanksgiving holiday! “Settlers of the Plymouth Colony and their Wampanoag tribe predecessors kicked off a grand tradition way back in 1621. And for that we should all be thankful, if for nothing else than a…
Local Market Monitor, a National REIA preferred vendor, recently released their monthly National Economic Outlook where they share their thoughts on developments taking place in the U.S. economy. National Economic Outlook By Ingo WInzer November, 2023 Overall, in October, jobs grew 1.9 percent compared to last year, continuing a trend towards slower growth as more pandemic job losses are recovered. That’s still the case at restaurants, in healthcare (nursing homes) and government (state government). Our best estimate of where growth is headed is provided by the very large business services sector, where job growth now is around 1 percent. This…
A new report from the New York Fed says household debt has risen to $17.29 trillion (up 1.3%) in Q3 2023, led by mortgages, credit cards and student loans. The data is from the Fed’s latest issue of the Quarterly Report on Household Debt and Credit. Some key findings: Mortgage balances increased to $12.14 trillion. Credit card balances increased to $1.08 trillion. Student loan balances increased to $1.6 trillion. Auto loan balances increased to $1.6 trillion – continuing an upward trajectory since 2011. Click here to read the full report at the New York Fed.
A recent analysis from Zillow says more couples are turning to wedding registries for help in buying their first home. In fact, the data shows that the percentage of couples including “home funds” as part of their wedding registry has increased by 55%, with nearly 20% of all couples registered on The Knot (a bridal registry site) asking their guests to help them with the down payment on their first home. Indeed…. “Affordability is the greatest hurdle facing first-time home buyers. It now takes nearly 12 years for a typical first-time buyer to save up for a down payment, compared to…
