Author: Brad Beckett

According to Black Knight’s latest Mortgage Monitor, the total U.S. loan delinquency rate (loans 30 days+ past due but not in foreclosure) was 3.21% in July, up 2.89% from June and down 3.56% year over year.  In addition, serious delinquencies (90+ days past due) continued to decrease, falling to 468K – the lowest level seen since the pre-Great Financial Crisis housing market peak and down 161K (-26%) from July 2022. Click here to read the full report at Black Knight.

A recent commentary published in the Hill by Sharon Wilson Géno (president of the National Multifamily Housing Council) says national rent control will make the housing crisis worse.  She says the current housing crisis is the result of decades of broken public policy and repeated unwillingness to invest needed government resources in housing.  The article highlights some great points about the destructive nature of government imposed rent control policies.  Below are some excerpts: “Our current housing crisis is the result of decades of broken policy and repeated unwillingness to invest needed government resources in housing. The pandemic then drove the…

The U.S. Government is reporting that sales of new single-family houses in July, 2023 were at a seasonally adjusted annual rate of 714k, which is 4.4% higher than June’s revised rate and is 31.5% higher than one year ago.  The median sales price of new houses sold in July was $436,700 with an average sales price of $513k.  There were an estimated 437k new houses for sale at the end of July representing a 7.3-month supply at the current sales rate. Click here to read the full report at the U.S. Census Bureau.

The National Association of Realtors is reporting that existing home sales were down 2,2% in July to a seasonally-adjusted annual rate of 4.07 million (down 16.6% year over year).  Total housing inventory at the end of July was 1.11 million units, up 3.7% from June but down 14.6% from one year ago.  Unsold inventory sits at a 3.3-month supply at the current sales rate with properties remaining on the market for around 20 days.  The median existing-home price for all housing types in July was $406,700, up 1.9% from one year ago. Lawrence Yun lays it out: “Two factors are…

Yes, believe it or not, the Autumnal Equinox will soon be upon us….that’s right, the first day of Fall is September 23rd.  That means it’s time to start thinking about lawn-care for the upcoming cooler months and prepping for next Spring. Today’s infographic from The Home Depot lays out exactly what needs to be done to prepare your yard for the winter months ahead so it’s in tip-top shape for the Spring….and it starts around labor Day.   As always, stay safe and have a Happy Friday!!!!Hat tip to The Home Depot.

We’ve had a lot of posts recently about the problem of squatters.  A recent report on FOX Business’ Varney & Company says after squatters took over his mother’s house, one handyman took the law into his own hands and uncovered a clever way to force them out.  The man, Flash Shelton, called called local law enforcement, and as soon as they saw that there was furniture in the house, they said they had basically no jurisdiction and couldn’t do anything.  Shelton then discovered he could use squatters rights himself to take back the home, but, as a precaution, he had…

On a recent episode of the Rent Perfect podcast David Pickron discusses the benefits of partnerships in business and why someone always needs to have the last say. This episode also happens to be the 100th episode of the Rent Perfect Podcast!  Congratulations! Click here to listen on Spotify.

The Tax Foundation says states tax fuel in several ways, including sales taxes, per-gallon excise taxes collected at the pump, taxes imposed on wholesalers (which are passed along to consumers in the form of higher prices), and a variety of operational taxes, such as underground storage tank fees, that are often charged to the retailer.   To that end, they added up all different taxes & fees to calculate a total tax rate on gas for each state. Not surprisingly, California pumps out the highest state gas tax rate of 77.9 cents per gallon (cpg), followed by Illinois (66.5 cpg) and…

This might have been already apparent to many readers, but new research has shown that 9 out of ten members of Generation Z (born between 1997 and 2012) would rather text than talk on the phone, with some even describing phone calls as a “phobia.”  FOX News says data indicates it may be a choice borne out of anxiety, with some teenagers telling experts that having an awkward phone call is one of “the top three things they would want to avoid in life.”  Now you know….. Watch the latest video at foxnews.com Click here to read the full story…

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 August, 2023 The rate at which the economy is adding jobs slipped to 2.1 percent in July, a strong showing in normal times but now just an indicator that normal times are not yet here and a warning that once we get to a sustainable level, it will be very modest. Data from last year show that some markets had a decent increase in population, fueling…