Developers Build More Luxury Apartments Than They Have in Decades

BY  ON FEBRUARY 10, 2020

The Wall Street Journal is reporting that the nation's builders are on track to finish more new apartments in 2020 than in any year since the 1980s, however data from RealPage shows these new units are trending toward the higher end. Click here to read more.

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Idaho Is America's Top Moving Destination

BY  ON FEBRUARY 5, 2020

We recently posted moving data from Atlas Van Lines, now it's United Van Lines' turn. According to their 2020 National Movers study, Idaho had the highest percentage of inbound migration, which marks their first time leading the list in over 25 years. Click here to read more.

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Expand Your Portfolio by Investing in Short-Term Rentals

BY  ON FEBRUARY 4, 2020

In a recent episode of the Rent Perfect podcast, David Pickron talks about the increase of short-term rentals and how property owners are finding new and creative ways to be landlords. Click here to read more.

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HUD Issues Guidance on Reasonable Accommodations for Assistance Animals

BY  ON FEBRUARY 4, 2020

The U.S. Department of Housing and Urban Development (HUD) recently announced the publication of guidance clarifying how housing providers can comply with the Fair Housing Act when assessing a person's request to have an animal in housing to provide assistance because of a disability. Click here to read more.

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Report Lists 25 Cities Best Positioned For Economic Advancement

Consumer finance education site LendEDU took a look at hundreds of America’s cities to find & rank those which are best positioned for economic advancement over the new decade.  Their report analyzed a several factors including recent income growth, population changes, and educational attainment levels.  Interestingly, several of the cities are in California which has been experiencing population loss for a variety of reasons. Indeed…

“The 2020s will inevitably bring drastic changes that will impact the lives of millions of Americans; this list estimates which places in the U.S. will experience the most profound economic changes, whether for better or worse, over the next 10 years.”

The top 25 U.S. Cities Best Positioned For Economic Advancement in the New Decade are:

  1. San Diego
  2. Reno
  3. Los Angeles
  4. San Francisco
  5. Miami, FL
  6. San Jose
  7. Stockton, CA
  8. Charleston, SC
  9. Fresno, CA
  10. Orlando
  11. Portland, OR
  12. Atlanta
  13. Provo, UT
  14. Sacramento
  15. Riverside, CA
  16. Austin, TX
  17. Savannah, GA
  18. Raleigh, NC
  19. Chicago
  20. Seattle
  21. Charlotte, NC
  22. Santa Rosa, CA
  23. St. George, UT
  24. Cape Coral, FL
  25. Boston

Click here to read the full story at LendEDU.com.

 

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Buy or Rent in 2020?

Is it better to buy or rent?  That’s an age-old question that really depends on a lot of variables – especially an individual’s station in life.  In their recent 2020 Rental Affordability Report, ATTOM Data crunched the numbers to show that owning a median-priced, three-bedroom home is more affordable than renting a three-bedroom property in 455 (53%) of  855 U.S. counties analyzed for their report.  Specifically, they looked at recently released fair market rent data for 2020 from HUD, wage data from the Bureau of Labor Statistics along with public record sales deed data from ATTOM Data Solutions in 855 counties that had sufficient home sales data.  Be sure to click on the map below to make it interactive and then drill down into your area of investing interest.

“Home ownership is a better deal than renting for the average wage earner in a slim majority of U.S. housing markets. However, there are distinct differences between different places, depending on the size and location from core metro areas,” said Todd Teta, chief product officer with ATTOM Data Solutions.

Click on the map to make it interactive

Click here to read the full report at ATTOMdata.com

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Top 5 Landscaping Trends of 2020

The  National Association of Landscape Professionals (NALP) recently released their top five lawn & landscape trends for 2020. According to the report, they tapped into the expertise of landscape professionals from across the country to predict design & maintenance trends that will create healthy and beautiful green spaces across America.  The NALP represents an industry that employs nearly 1 million landscape, lawn care, irrigation and tree care professionals who create and maintain healthy green spaces for the benefit of society and the environment.  Indeed…

“Foundational landscape elements remain on homeowners’ wish lists, but modern updates and technology are now a top priority. With a wave of design and technical innovations, our members report that ornate hardscaping, contemporary features, lush gardens and smart irrigation are all trending and will influence landscape designs across the country in 2020,” says Britt Wood, CEO, National Association of Landscape Professionals.”

Click here to read the full story at loveyourlandscape.org.

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Top Real Estate Markets for 2020

What are the top real estate markets for 2020?  The folks over at Realtor.com recently put together their forecast for 2020 and they say these are the places where their paychecks will go the farthest and people can enjoy a more laid-back pace of life.  Interestingly, they are mostly medium-size metros in the South and non-coastal West.  Indeed….

“The cities that we expect to do best in 2020 are not necessarily big, fancy, coastal cities, but secondary markets where the job market is still pretty good but housing is affordable,” says Danielle Hale, chief economist of realtor.com.

Realtor.com’s top 10 markets for 2020 are:

  1. Boise City, ID
  2. McAllen, TX
  3. Tucson, AZ
  4. Chattanooga, TN
  5. Columbia,SC
  6. Rochester, NY
  7. Colorado Springs, CO
  8. Winston-Salem, NC
  9. Charleston, SC
  10. Memphis, TN

Click here to read the full story at Realtor.com.

 

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Despite Growing Housing Crisis, Rent Control Makes a Comeback

Protesters in Oregon (via Rental Housing Journal)

With the ever-increasing lack of affordable housing in this country the last thing we need is more rent control – especially in urban areas where across the board demand is high and supply is low.  A recent story in Multi-Housing News reminds us that while rent control “seemed to be on the ropes a few years ago” it started rearing its ugly head in places like New York, California and Oregon – all of which passed new rent control measures in 2019 and likely paving the way for others to follow suit.

“Unfortunately, what passes for action to alleviate the crisis is often shortsighted. Solutions that are more likely to have an impact—such as increased density, a streamlined entitlement process and additional subsidies—are difficult to implement in the current political climate.”

“Of the rent control measures passed to date, New York’s is the most punitive and has had the most immediate impact. The larger problem, though, is twofold: Once in place, it is easier to progressively tighten the screws and make the laws more onerous for property owners. The second problem is that rent control gives the appearance of action and diverts attention from the real solution, which is that we need to build more units that are affordable.”

“Alleviating the affordable housing issue in the U.S. will take commitment and cooperation from builders, municipalities and other stakeholders. The depth of the crisis has spurred action, but the fact that rent control remains the first response for some states is a sign that finding solutions is likely to be an arduous process riddled with bumps.”

Click here to read the full story at MultiHousingNews.com.

 

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When Your Insurer Decides Your Property Isn't Worth the Risk

BY  ON DECEMBER 26, 2019

A recent story in the Wall Street Journal (reposted on Realtor.com) explored about how some California homeowners recently found out their insurers wouldn’t renew their fire-protection policies. They reported that, in response, California announced a one-year moratorium forbidding insurers from dropping customers who live in or adjacent to ZIP Codes affected by this Fall’s wildfires.  In addition, the California Department of Insurance said that over the past four years, insurers have declined to renew policies for 350k California homeowners who live in areas at high risk for wildfires.  They say  the problem isn’t just limited to California and that homeowners on the East Coast are losing coverage as well.  Homeowners  basically have three options (but each one has drawbacks):  1 – Adding disaster-resistant features could make your home more insurable;  2 – Shopping for comprehensive coverage from a different insurer; and, 3 – A state’s FAIR plan, which stands for Fair Access to Insurance Requirements and is considered the insurer of last resort.  Meanwhile, in California:

There are also fears that insurers will ask the state’s Department of Insurance for across-the-board rate increases—or stop doing business in the state altogether to avoid further losses.  “The problem with that is that carriers are not nonprofits. If you strip away their ability to underwrite, they can’t afford to do business,” says Karl Susman, a Los Angeles-based insurance broker.

Click here to read the full story at Realtor.com.

Click here to read the full story at the Wall Street Journal.

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