Zillow says home values in Spokane have increased by 11.4% over the past year. Apartment rents are up 4.3% from last year. Some investors mistakenly assume that past performance is an indication of what to expect in the future. While Read more…
The American Enterprise Institute has released a list of metro areas most at risk from FHA loan delinquencies, based on August 2020 data. They are: Atlanta Houston Chicago Washington DC Dallas Riverside Baltimore San Antonio Orlando Tampa In Atlanta-Sandy Springs-Alpharetta, Read more…
According to this article by CNBC, about 7% of all active mortgages are in some sort of forbearance program. The number of seriously delinquent mortgages, at least 90 days past due, more than doubled from May to June, according to Read more…
https://www.recenter.tamu.edu/news/newstalk-texas/?Item=24811&utm_source=RECON&utm_campaign=05fe67467d-EMAIL_CAMPAIGN_2020_08_27_04_24&utm_medium=email&utm_term=0_b815716265-05fe67467d-66993429 According to the above report by the Real Estate Center at Texas A&M University, national housing inventory declined 32.6 percent year over year, and the inventory of newly listed properties declined 13.4 percent Baby boomers are not moving. Perhaps potential Read more…
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…
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…