Author: Brad Beckett

In late December, the U.S. Department of Housing and Urban Development issued a new carbon monoxide detector requirement that went into effect for multifamily properties that receive assistance from the government behemoth. According to a release from the NAA about the new regulation: HUD posted a notice about the carbon monoxide (CO) alarm or detector requirements on Jan. 31, 2022. CO alarms or detectors must be installed in each dwelling unit or units that receive federal funding through any of the following programs: Public Housing Housing Choice Voucher Project Based Voucher Project Based Rental Assistance Supportive Housing for the…

According to ATTOM Data’s Year-End 2022 U.S. Foreclosure Market Report, there were 324,237 U.S. properties with foreclosure filings (representing 0.23% of all U.S. housing units) in 2022.  This figure was up 11% from 2021 but down 34% from 2019 –  before the pandemic shook up the market. In addition, in 2022 foreclosure filings were also down 89% from a peak of nearly 2.9 million in 2010. “Eighteen months after the end of the government’s foreclosure moratorium, and with less than five percent of the 8.4 million borrowers who entered the CARES Act forbearance program remaining, foreclosure activity remains significantly lower…

According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents were $1,715 in December, down $4 from December.  Yardi says multifamily saw strong growth in 2022, but rents are feeling some strain. “Our outlook is colored by the demand-supply equation. Demand for apartments is moderating from 2021 record levels as the economy cools, excess household savings are depleted, affordability is stretched and the post-pandemic migration is played out.” “Meanwhile, 2023 should be a strong year for new supply. More than 400,000 units are expected to come online in 2023.” Click here to read the full report at…

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) was down 0.1% in December, 2022.  However, the all items index was up 6.5% for the 12 months ending in December.  Of note, the shelter index and rent index both continued to increase, rising 0.8% over the month.  Indeed… “The shelter index was the dominant factor in the monthly increase in the index for all items less food and energy, while other components were a mix of increases and declines. Among the other indexes that rose in December was the index for…

The Visual Capitalist reminds us that inflation has been top of most American’s minds over the past year, which they say has loomed over every aspect of the economy.  But, how has inflation actually impacted the prices of everyday goods like bread and butter or gas and public transportation?  Today’s Infographic takes a look at how much prices have changed over the past 12 months.  Indeed…. Stay safe and have a Happy Friday!!! Hat tip to the Visual Capitalist.

Recently released data from The U.S. Census Bureau’s Current Population Survey shows that the enrollment rate at U.S. schools rose slightly between 2020 and 2021, as approximately 1% more people under age 35 enrolled in school. Some key findings: Preschool Enrollment – Preschool enrollment among children ages 3 to 4 rose substantially from 40% in 2020 to just over 50% in 2021. Enrollment didn’t return to its pre-pandemic 2019 level of 54%. Elementary and Secondary Enrollment – Total enrollment in kindergarten rose from 3.7 million in 2020 to 4 million in 2021. College Enrollment – College enrollment remained low in…

StorageCafe reminds us that over 10k people turn 65 every day.  With that in mind the crunched the numbers to determine the best retirement destinations in the nation. Some might surprise you and some will be familiar.  Top get their list they look at the country’s 100 largest metros to find those that would be a good a fit for a retirement-age person, the chances of their easily integrating into the local community, and the proportion of its residents are aged over 65 as well the area’s life expectancy. A few key points: Half of the US’s best retirement destinations…

Airbnb says it will no longer allow people to rent out houses where enslaved people once lived, including on former plantations, the company said in an anti-discrimination report in December.  According to Buzzfeed, Airbnb will ban listings of any residence on a plantation “if structures that existed during the time of slavery are still present on the property,” bar any structure that housed enslaved people and that was built specifically for that purpose, and prohibit renters from promoting “slavery-related features” as a selling point of a rental.  Airbnb has reportedly removed at least 30 properties from their site, Buzzfeed says.…

The National Multifamily Housing Council and the National Apartment Association recently issued a media release expressing their disappointment in a regulation the EPA recently issued redefining and expanding what “waters of the U.S.” means under the Clean Water Act.  Indeed… “While the apartment industry strongly supports protecting our water resources, we cannot support the changes issued by the EPA. This federal overreach will greatly expand the universe of properties, including many with only a tenuous relationship to a body of water, required to seek very expensive federal permits to develop or redevelop housing.” Click here to read the full release…

According to U-Haul’s annual Growth Index, Texas, Florida and the Carolinas were the preferred destinations of one-way U-Haul truck rentals during 2022, ranking as the top growth states on their annual Growth Index.  U-Haul’s Growth Index is compiled according to the net gain of one-way U-Haul trucks arriving in a state or city, versus departing from that state or city, in a calendar year. Migration trends data is compiled from more than 2 million one-way U-Haul truck transactions that occur annually across the U.S. and Canada. “The 2022 trends in migration followed very similar patterns to 2021 with Texas, Florida,…