News

Building Materials See Price Declines for 2nd Consecutive Month Prices for Building materials have been decreasing the past few months, according to recent data analyzed by the NAHB’s Eye on Housing.  In fact, they say prices for softwood lumber fell 1.7% in October following 5.5% in August and 3.1% in September.  However they do point […]

Rentcafe says over the last two years, apartment conversions have jumped by 25% compared to the two years prior, bringing a total of 28k new rentals in 2020-2021.  In addition, they point out that adaptive reuse has picked up speed in America’s largest cities.  Indeed… “The residential market needs significantly more density in the areas

What to do with those Thanksgiving Leftovers As always, we hope you & yours had a wonderful and happy Thanksgiving this year.  And, if you’re like many Americans you may have not only eaten more than your fair share, but you might also have oodles of leftovers that will be calling your name in the

Statistics Show Tenant Criminal History Affects Ability to Pay Rent On a recent episode of the Rent Perfect podcast David Pickron says there is a direct correlation between a tenant applicant’s criminal history and their credit scores, which ultimately affects their ability to pay rent.  Indeed… “If government takes away your ability to view the

HUD Increases Flood Insurance Options for FHA Mortgages The U.S. Department of Housing and Urban Development (HUD), through the Federal Housing Administration (FHA) recently announced that effective December 21, 2022, it will allow homeowners with FHA-insured mortgage financing to obtain flood insurance policies that conform to FHA requirements from private insurance providers. The change was

Mortgage Originations Experience Biggest Annual Drop in 21 years ATTOM Data says mortgage originations are experiencing their biggest annual drop in 21 years.  The data comes from their third-quarter 2022 U.S. Residential Property Mortgage Origination Report, which shows that 1.97 million mortgages secured by residential property (1 to 4 units) were originated in Q3 2022

Airbnb Rolls Out New Software to Screen & Prevent Parties Back in August we posted about Airbnb’s plans to roll out new “anti-party tools” in the US and Canada to help identify potentially high-risk reservations and prevent those users from taking advantage of their platform.  Now, fast-forward to mid-November and they have launched a new

Housing Starts & Permits Continue to Fall The U.S. government is reporting that privately‐owned housing starts in October were at a seasonally adjusted annual rate of 1425,000, which is 2.4% lower than September’s revised number and 8.8% lower than one year ago.  October’s rate for units in buildings with five units or more was 556k. 

Yardi Says Rents Rising Modestly as Rate Hikes Take Center Stage According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents were $ 1,727 in October, up $ 3 from September.  Yardi says The Fed’s recent actions have roiled the housing market, which is sure to impact multifamily demand, property values and

Homeownership Wins Over Time We’ve had many posts about how real estate is the best chosen investment, time and time again.  Today’s infographic from Keeping Current Matters reminds us that homeownership is in fact a form of building wealth.  They point out that not only does growing equity increase your wealth, prices have appreciated by