Foreclosure Activity Rises by 28% in the Third Quarter of 2023
According to the ATTOM Data’s Q3 2023 U.S. Foreclosure Market Report, the number of U.S. properties with foreclosure filings (default notices, scheduled auctions, or bank repossessions) has increased by 28% from Q2 and 34% from the previous year. In September alone, there were 37,679 U.S. properties with foreclosure filings, which is an 11% increase from […]
The Rise in Mortgage Rates
There have been multiple discussions about interest rates in the past few years. According to a graphic from Visual Capitalist, the 30-year fixed-rate mortgage has reached its highest level since 2002. This, coupled with rising home prices and limited inventory, has led to affordability being at its lowest point in history. Stay safe and have […]
Local Market Monitor’s National Economic Outlook for October ’23 is a comprehensive analysis of the current state of the national economy.
National Economic OutlookBy Ingo WInzer October, 2023 Although the national economy is experiencing a job growth rate of 2 percent, a closer look reveals some concerning trends. In sectors such as manufacturing, finance, and retail stores, job growth is below 1 percent. The restaurant industry is an exception with a high job growth rate of […]
Caution: Fraudulent Activities Ahead
In a recent episode of the Rent Perfect podcast, David Pickron discusses how we have all been victims of fraud in some way, even if we are not aware of it. He shares six simple ways to protect ourselves from fraud, with the top recommendation being to freeze our credit. You can listen to the […]
Yardi Asserts Multifamily Sector’s Strength Amidst Obstacles
According to the latest Yardi Matrix Multifamily Report, the average rent for multifamily properties in the United States was $1,722 in September 2023. Despite challenges such as rising energy costs and higher interest rates, the market remains strong overall due to strong job growth and household formation. However, there are concerns about the potential impact […]
Inflation is currently recorded at a year-over-year rate of 3.7%
The U.S. Bureau of Labor Statistics has released a report stating that the Consumer Price Index for All Urban Consumers (CPI-U) increased by 0.4% in September 2023. The overall index showed a 3.7% increase for the 12 months leading up to September, which was the same as the previous month. The rise in the index […]
2Life Communities has been granted $7.6 million in funding from HUD for affordable housing options for seniors.
Brighton, MA – 2Life Communities has been granted over $7.6 million by the U.S. Department of Housing and Urban Development (HUD) Office of Multifamily Housing Programs, as announced earlier this week. These funds are part of HUD’s recent allocation of $160 million in grants to non-profit organizations nationwide that support the development of new or […]
Top Fast-Food Chains Based on Sales Figures
According to The Daily Infographic, fast-food chains have become a significant part of American culture with a wide variety of options for everyone. The infographic ranks the most popular chains based on their average sales per store. Chick-fil-A takes the top spot, known for its efficiency and crowded lunchtime lines. Check out the infographic for […]
CBRE Facilitates $182 Million Sale of 294-Unit Multifamily Complex, “Hanover North Cambridge,” in Cambridge, MA
Boston – CBRE announced the completion of the $182 million sale of Hanover North Cambridge, a 294-unit luxury apartment complex located adjacent to the MBTA Alewife Station in Cambridge, MA. Completed in 2022, the newly developed residential community was acquired by a fund advised by Goldman Sachs Asset Management from The Hanover Company and its […]
Top 10 Retirement Towns That Offer Great Affordability
1. Asheville, North Carolina: Known for its stunning mountain views and vibrant arts scene, Asheville offers a reasonable cost of living and affordable housing options for retirees. 2. Prescott, Arizona: With its mild climate and breathtaking natural beauty, Prescott is an ideal retirement destination that won’t break the bank. The city also boasts a low […]