Marcus and Millichap published a new research brief titled “Changing Lifestyle Preferences Shift Housing Demand to Suburbs.” They say that the pandemic has altered housing choices. The report confirms the anecdotal evidence. Although some companies have confirmed permanent work from Read more…
Author: malhotraspokane
Seven of the ten most expensive rental markets had year over year price decreases. The most expensive markets were San Francisco (one bedroom rent dropped last month to $3,200), New York (one bedroom rent declined to $2,840), Boston (one bedroom Read more…
Is the current hot seller’s market about to turn into a buyer’s market? We are in uncharted territory, it is difficult to predict. But the author of the following article may well be correct. https://www.biggerpockets.com/blog/covid-evictions-market-fallout Unemployment numbers are still over Read more…
In addition to the exodus from New York, see article below, there is also an exodus from San Francisco, as described in the following article: https://www.sfgate.com/living-in-sf/article/2020-San-Francisco-exodus-is-real-and-historic-15484785.php Investors in cities like San Francisco and New York often believe that values can Read more…
https://nypost.com/2020/08/11/new-yorkers-flee-nyc-in-droves/ An article below predicts that an exodus from big cities will last for a couple of years. This article, linked above, describes how New Yorkers keep moving out of the city to the suburbs. With a high population density, Read more…
https://nypost.com/2020/07/22/why-falling-rents-mean-big-trouble-for-nycs-future/ The New York Post reports that rents are falling in New York City. This is more evidence that people are fleeing cities for the suburbs. With more people able to work from home, they are escaping congestion, traffic, protestors, Read more…
https://www.zerohedge.com/markets/real-estate-expert-warns-exodus-cities-will-last-two-years People are leaving big cities for suburbs and small towns to get away from density, in view of the Coronavirus, and to get away from protests and riots and politicians who are sympathetic to them. It is hard to Read more…
https://www.scmp.com/news/china/money-wealth/article/3016074/unimpeachable-study-calls-foreign-ownership-primary-culprit It has long been knows that buyers from China and Hong Kong have been driving up real estate prices in Vancouver BC. The authors of this article found an almost perfect correlation between foreign ownership and price to income Read more…
There are some great tips in this article from Bigger Pockets: https://www.biggerpockets.com/blog/7-tips-offer-accepted-hot-market
This article provides some real estate predictions for 2020 and beyond. The article explains that, despite the recession, high unemployment, and increased bankruptcies, that real estate values are rising nationwide. This is because of low supply and because of unprecedented Read more…
Many states and local jurisdictions have imposed eviction prohibitions on landlords. In some locations, landlords cannot evict even if the tenant was far behind on rent before the COVID lockdowns and has an income as an essential worker. In some Read more…
https://www.recenter.tamu.edu/news/newstalk-texas/… This article lists the best cities for millennials during the pandemic. It provides some real estate predictions for 2020 and 2021, in that millennials are a large part of new buyers in the housing market. In the largest 100 Read more…
Freddie Mac has released its quarterly real estate predictions for 2020 and 2021. They are predicting real estate will appreciate (nationwide) about 0.4% in 2020 and 0.7% in 2021. In other words, basically flat. The predictions are found in the Read more…
Las Vegas is now open for business again. But how quickly will tourists returned to smoke filled gambling halls? Fewer tourists mean less demand for restaurants and casinos. Demand for housing in Las Vegas is currently strong, but how long Read more…
The following article makes some real estate predictions for 2020 for Spokane. https://www.spokesman.com/stories/2020/may/31/will-the-spokane-housing-market-weather-the-storm-/ Nationwide, COVID-19 has affected housing markets due to economic uncertainty. In Spokane, more contracts are failing to close. Some buyers have lost their jobs, and lenders are Read more…