Author: Brad Beckett

Once again, we’re seeing migration from high-tax states to lower tax, lower regulation states – only this time it’s corporate headquarters and not just people.  Today’s graphic from the Visual Capitalist illustrates those cities with new corporate headquarters location as well as those places losing them.  As always, stay safe and have a Happy Friday!! Hat tip to the Visual Capitalist.

According to the latest Yardi Matrix Multifamily Report, multifamily rents posted gains in June, 2025 with the average U.S. advertised rent increasing $3 to $1,749. Year-over-year rent growth was 0.9%.  Yardi says growth remains tepid as the market balances between robust demand and supply while economic uncertainty is high: Multifamily performance remained solid through mid-year 2025, with rents rising by $20, or 1.2%, over the first two quarters. While demand remains healthy, rent growth is muted by economic uncertainty and rapid supply growth in many markets. Click here to read the full report at Yardi.

New England dominated the list of America’s hottest housing markets in June, according to Realtor.com.  They say homebuyers in the NE region aren’t backing down, even as prices continue to climb and inventory becomes increasingly tight.  The report says it’s not just about affordability – it’s about proximity, lifestyle, and long-term value. While high prices might be giving some buyers pause, the numbers show that demand in the Northeast remains strong, especially in midsize metros that offer a balance of suburban charm and city access. Click here to read the full story at Realtor.com

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. “One of the key problems for consumers over the last few year has been the high cost of housing. Since 2020 the average home costs 50 percent more and the average rent (pulled up by those high home prices) is 30 percent higher.” Click here for more information about Local Market Monitor.

Citing MLS data, a recent report from Redfin says condo prices are falling because there are roughly 80% more condo sellers than buyers in the market.  They point out that the only time condo prices posted a larger year-over-year decline was back in April, 2023.   Condo sales were down 11.9% in May – the largest decline since June, 2024.  In addition, the report says many condo owners are trying to offload their properties because of higher HOA fees and insurance costs as well as special assessments. “It’s a slow housing market across the board, but condos have been hit particularly…

According to the latest ICE Mortgage Monitor, the national delinquency rate ticked down 2 basis points (bps) to 3.20% in May, though it is up 5.2% (16 bps) year over year.  Serious delinquencies (loans 90+ days past due but not in foreclosure) improved seasonally for the 5th consecutive month but are still up 56k (14%) from the same time last year.  However, the 3rd consecutive month, foreclosure starts, active foreclosure and foreclosure sales rose on an annual basis as VA foreclosure resumptions continue to make their way through the pipeline. In addition, the U.S. Department of Education resumed collections efforts…

The U.S. government is reporting that privately‐owned housing starts in June, 2025 were at a seasonally adjusted annual rate of 1,321,000, which is 4.6% higher than May’s revised number but is 0.5% lower than one year ago.  June’s rate for buildings with five units or more was 414k.  Privately‐owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 1,397,000, which is 0.2% higher than May’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 478k in June.…

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3% in June, 2025.  The all items index was up 2.7% for the 12 months ending in June.  The shelter index increased 0.2% and was the primary factor in the all items monthly increase. The indexes for used cars & trucks, new vehicles, and airline fares were among the major indexes that decreased in June. Click here to read the full release at the Bureau of Labor Statistics.

The U.S. Census Bureau says that from 2023-2024, the population aged 65+ increased by 3.1% (to 61.2 million) while the population under age 18 decreased by 0.2% (to 73.1 million).  Interestingly, this means ongoing growth among older folks, coupled with persistent annual declines those under 18 has reduced the gap between these two groups from just over 20 million in 2020 to just below 12 million in 2024.  Indeed….Stay safe and have a Happy Friday!!! Click here to read the full report at the U.S. Census Bureau.

The Tax Foundation says as we head into the summer months, many Americans enjoy a cold beer at the end of a long day. However, beer taxes might dampen the vibe.  They point out that here in the U.S., taxes are the single most expensive ingredient in beer. This burden accounts for more of the final price of beer than labor & ingredients combined – as much as 40.8% of the retail price.  Check out their interactive map below. Key changes in 2025: Connecticut reduced the tax rate on beer from $0.24 per gallon to $0.19 per gallon. Kentucky reduced…