Author: Brad Beckett

Bloomberg Law has reported that a federal judge in Texas has issued a preliminary injunction against the Biden administration’s waters of the US rule (aka WOTUS). However, the injunction only applies to the states of Texas and Idaho.  The injunction was issued on the day before the rule took effect for the rest of the country on Monday, March 20, 2023. The EPA and Army Corps’ interpretation of the Clean Water Act to include all interstate waters without “any limiting principle” raises “serious” federalism questions, [Judge] Brown wrote. “The rule is likely to irreparably harm Texas and Idaho for intruding…

According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents were $1,702 in February, the same as January’s figure.  Yardi says year-over-year growth continued its downward slide, and is now 4.8% nationally, down 70 basis points from the previous month and the lowest level in nearly two years. Click here to read the full report at Yardi.

The U.S. government is reporting that privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,450,000, which is 9.8% higher than January’s revised number but is 18.4% lower than one year ago.  February’s rate for units in buildings with five units or more was 608k.  Privately‐owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,524,000, which is 13.8% above January’s revised number.  Authorizations of units in buildings with five units or more were at a rate of 700k in February. Click here to read the full report at…

Today’s infographic from the Visual Capitalist ranks the economic output of the top 15 U.S. cities from New York City to Minneapolis, using data from the U.S. Bureau of Economic Analysis.   Interestingly, America’s metropolitan areas account for roughly 90% of U.S. economic output, however, they do point out that the economic center of gravity within the is shifting from traditional centers of power towards booming cities in the South & West. Hat tip to the Visual Capitalist.

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) was up 0.4% in February, 2023.  The all items index was up 6% for the 12 months ending in February.  Interestingly, the BLS says The index for shelter was the largest contributor to the monthly all items increase, accounting for over 70% of the increase. Click here to read the full report at the Bureau of Labor Statistics.

It might be a little apropos considering the developing banking crisis as we post this;  a recent report from Bankrate.com says an uncertain economy is affecting how Americans are able to save for emergencies. In fact, they say that nearly half (49%) of Americans have less savings (39%) or no savings (10%) compared to a year ago.  The data comes from their Bankrate’s yearly emergency savings report which also examines  whether people have more credit card debt or emergency savings, and if they’re prioritizing paying down debt or building their emergency savings. “It is quite stunning that such a high…

A recent analysis from the Associated General Contractors said construction employment climbed in 45 states (and D.C.) from January 2022 to January 2023 with 42 states adding construction jobs between December and January alone.  Not surprisingly, Texas added the most jobs over the year (34,800 jobs), followed by Florida (23,600 jobs), New York (21,900 jobs), and Tennessee (14,000 jobs). “The construction industry has been adding jobs nearly everywhere in the past year even as homebuilding slowed…Most nonresidential contractors continue to report little letup demand and would like to hire even more workers if they were available.”   Said Ken Simonson, the…

We’ve had a few interesting posts about Tarek El Moussa hosuing flipping over the years.  They’re entertaining and, while it is on TV, they do contain some nuggets of reality from time to time.  A recent story on Realtor.com talks about how he and his new wife Heather (not Christina) have a new show called “The Flipping El Moussas.”   The reporter “cringe-watched” the first season which reveals how things don’t always go as planned with the 2,162-sq-ft., 4-bedroom, 3-bath mid-century modern house in Los Angeles  – which they paid $2.15 million for.  Interestingly, the final listing (after the rehab) shows…

On a recent episode of the Rental Property Owner & Real Estate Investor Podcast, Brian Hamrick talks with Glenn and Amber Schworm, who together have weathered the ups & downs of real estate investing through good and difficult markets.  Back in 2007, Glenn and Amber Schworm owed $80,000 on their credit cards and had a family take care of. They turned to real estate investing just as the market began crashing.  Still, they persisted with their flipping and renovation business and have since helped others flip over 1,000 homes worth over $85 million dollars. “…They’ve also managed to build teams…

A new report from Realtor.com says a decade of under-building in America has led to a shortfall of 6.5 million single-family homes in the U.S.  To come up with their conclusions, Realtor.com looked at household formation, housing starts, and home sales.  They found that given how many households were formed between 2012 and 2022 the U.S. is short of 6.5 million single-family homes.  In addition, they say that builders moved into the apartment building sector, versus building single-family homes. “Cooling buyer demand and builder confidence led to slower single-family construction and a shift in builder focus to multi-family last year.…