We have many posts about breakdown one dollar in rent and other financial stories. However, today’s infographic from the Daily Infographic takes us through all the parts that make up a dollar bill and gives us some basic information about each part. Undoubtedly, many of you reading this post have the first dollar they even made framed on the wall….. Stay safe and have a Happy Friday! Hat tip to the Daily Infographic.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
Rental information site Zumper recently released their latest monthly National Rent Report showing that their median national rent for 1-bedroom apartments in February, 2023 was $1,492 (unchanged from January) and the median two-bedroom rent was $1,824 (up 0.1% from January). Zumper says year-over-year rent-price increases continued to decelerate from post-pandemic-era increases in 2021 and 2022. Be sure to check out their list of the top 100 metro areas. “Many markets continue to either normalize or correct following the steep increases in rent seen in 2021-22 in the zero interest rate & QE environment we went through…With interest rates expected to…
According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), U.S. house prices rose 8.4% from December 2021 through December 2022. Month to month, house prices were down 0.1% from November to December, 2022. In addition, the FHFA says the U.S. housing market has experienced positive annual appreciation each quarter since the start of 2012. The FHFA HPI is the nation’s only collection of public, freely available house price indexes that measure changes in single-family home values based on data from all 50 states and over 400 American cities that extend back to the mid-1970s. “House price…
On a recent episode of the Rent Perfect podcast David Pickron says with an ever-increasing influx of immigrants pouring into the United States, there is a pressure being applied to the rental housing market like never before. As a property owner, you may encounter a time when you have immigrants that want to rent your property and you just aren’t sure what to do. David Pickron and Rent Perfect General Counsel Denny Dobbins sit down to talk about what you need to know in regard to the rules surrounding this unique situation. “As a property owner, you may encounter a…
The National Association of Realtors is reporting that pending home sales were up 8.1% in January, 2023 – two months in a row. The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) increased to 82.5 in January. The NAR says buyers are responding to better affordability from falling mortgage rates in December & January. In addition they predict the economy will continue to add jobs throughout 2023 & 2024, with the 30-year fixed mortgage rate steadily dropping to an average of 6.1% in 2023 and 5.4% in 2024. “Home sales activity looks to be bottoming out…
Realtor.com says recent higher mortgage rates have made buying a home even more expensive. In fact, their data shows that home sales have declined by a third across the country, but where are they down the most? With that question in hand, their number-crunchers recently put pen-to-paper to identify those areas of the country with the steepest declines in sales transactions. Indeed… “These drop-offs have followed in the wake of the homebuying frenzy that took place during the pandemic. The unique market conditions during that period—mortgage rates at record lows, people rushing to find larger abodes, pent-up demand, and an…
A recent report from CNBC discusses the rise of corporate landlords in America and how some in Congress want to limit their influence in the single-family housing market. Lobbyists for the industry say the proposals from Washington would worsen the U.S. housing supply. Meanwhile, CNBC claims Wall Street firms have profited from higher than average rent hikes while leveraging government-backed financing and tax credits. It’s an interesting take on the current situation with Blackstone & Pretium. “As of 2023, corporate landlords only commend a small portion of the rental housing in this country…the vast majority of all rental units, including…
According to the Mortgage Bankers Association’s recent National Delinquency Survey, the delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.96 percent of all loans outstanding at the end of Q4 2022. The MBA says the delinquency rate was up 51 basis points from Q3 but still down 69 basis points from one year ago. The percentage of loans on which foreclosure actions were started in the fourth quarter fell by 1 basis point to 0.14%. In addition, they also point out that mortgage delinquencies track very closely with employment conditions. The MBA…
The U.S. Government is reporting that sales of new single-family houses in January, 2023 were at a seasonally adjusted annual rate of 670k, which is 7.2% higher than December’s revised rate but is 19.4% lower than one year ago. The median sales price of new houses sold in January was $427,500 with an average sales price of $474,400. There were an estimated 439k new houses for sale at the end of January representing a 7.9-month supply at the current sales rate. Click here to read the full report at the U.S. Census Bureau.
Statista says 50 out of the 75 largest cities in the U.S. are currently running a deficit and, in some cases, a pretty hefty one. Today’s chart illustrates those cities with the highest municipal debts per taxpayer. Indeed….Stay safe and have a Happy Friday!! “…despite being obligated to pay employees’ pension and retiree health care benefits when these come up, many cities decide to put off building these funds and even omit the respective items from city balance sheets.” Hat tip to Statista.
