Tag Archives: economy
Posted on 18. Jun, 2015 by Marc Courtenay.
Nearly 7 years after the financial crisis of 2008, a time when mortgages seemed available to almost any American, the “American Dream” of owning a home continues to fade. The “old” dream was to save enough money for a down payment on a home that you could own or partly own by qualifying for a […]
Posted on 21. May, 2015 by Vanessa Naranjo.
Graduation season is on the horizon and with that comes a flood of college graduates on the prowl for a job and place to live. The experts at Trulia “set out to help new grads find areas where they can afford to rent and still have some money left over to pay back their student loans.” Their findings […]
Posted on 05. May, 2015 by Marc Courtenay.
Congratulations, you have a secure job where the need for what you do keeps on growing. If you love your work as well you’re especially fortunate. Many people aren’t so lucky. The U.S. Department of Labor on April 30 that initial jobless claims for the week ending April 25 fell by 34,000 to 262,000, below […]
Posted on 10. Mar, 2015 by Vanessa Naranjo.
San Francisco continues to lead the country in highest rent, but that’s not the only city that’s climbing. Yahoo shared a post discussing the significant rise in rents, which also identified the top 10 cities with the highest rents. Click below to read more about the top expensive metros. Read the full article here
Posted on 22. Jan, 2015 by Marc Courtenay.
Large metropolitan areas aren’t the only places where rental activity increased in 2014. In fact rents went up more as a percentage in smaller cities than in the large metropolitan areas. In 2014 the cost to rent an apartment moved higher for the fifth consecutive year. Much stronger demand coupled with dwindling supply meant vacancies […]
Posted on 08. Jan, 2015 by Marc Courtenay.
The year 2014 ended with the U.S. housing market appearing on the verge of a downturn. Sales of new homes in November slipped almost 2% from the previous year according to the Commerce Department. Existing homes sales for November also were down 6.1%. A more disturbing trend came from a survey of U.S. home builders […]
Posted on 11. Dec, 2014 by Vanessa Naranjo.
Are you prepared for the upcoming year? Recent studies suggest that multifamily demand will remain high in 2015, despite “high demand, some markets reflect a possible concern of oversupply, with vacancy rates forecast to reach upwards of 7 percent.” Multifamily Executive recently posted an article that shows what to expect in the rental market. Click here for […]
Posted on 11. Nov, 2014 by Marc Courtenay.
If it’s such a great time to buy a house why are young Americans opting to rent rather than a buy a house? Is it because of low inventory in their price range, tight credit, difficulty qualifying, or all of the above? First-time home buyers aren’t clueless. They’ve done the math on how much house […]
Posted on 07. Oct, 2014 by Marc Courtenay.
The number of multi-family rental housing complexes being built around the nation keeps on growing month after month. The implications for the property management business are somewhat ambiguous. No doubt there’s been a steady decline in the number of homeowners since the financial crisis of 2008. This has translated to a substantial increase of renters […]
Posted on 09. Sep, 2014 by Mary Girsch-Bock.
The Wall Street Journal recently noted that the share of new homes being built as rental apartments is at its highest level in four decades. While it certainly helps the economy, an increase in apartment homes can strike fear in the hearts of many property managers. After all, these newer units will likely boast state […]
Posted on 28. Aug, 2014 by Marc Courtenay.
The U.S. economy has come a long way from the frightening fiscal collapse that happened at the end of the Bush administration in 2008. The Obama administration inherited the worst economic crisis since the Great Depression. The Federal Reserve has been managing America’s monetary policies since 1913. Once former Fed Chairman Ben Bernanke saw the […]
Posted on 19. Aug, 2014 by Marc Courtenay.
Don’t let the lazy, crazy, hazy days of summer lull your property management business to sleep. Wake it up with timely communiqués that you send to your clients and potential clients. For example, why not ignite their imaginations with information about equity-based crowd-funding that specializes in real estate investment opportunities. I recently interviewed the co-founder […]
Posted on 25. Jul, 2014 by Alexis Hammond.
In a recent article, Multifamily Executive tells readers the 5 reasons why occupancy is growing stronger in the United States. One reason that has been a constant trend is that many people are scared of owning their own homes due to the foreclosure crisis in 2000 and again in 2008. Click below to read the […]
Posted on 15. Jul, 2014 by Marc Courtenay.
Property managers work hard for their money. Everybody talks about increases in the cost-of-living and rents rising, but how about the people who make rentals available? Yes, I’m referring to your clients the owners, and you, the liaisons between the residents and the “landlords”. When’s the last time your clients called and said, “You deserve […]
Posted on 14. Jul, 2014 by Alexis Hammond.
Although the housing market has been in a slump during recent years, a recent surge shows that the real estate market is starting to fight back. The gain in the month of May is the fastest we have seen since 2011. The article posted by NBC News tells us exactly how the market has seen […]
Posted on 08. Jul, 2014 by Alexis Hammond.
In the month of May, rent across the country increased. For example, in Texas, there was a direct correlation between higher rent to growth in the gas and oil industry. In this article posted by Multifamily Executive the top 10 Metro cities with the highest growth were released. See the full article here.
Posted on 07. Jul, 2014 by Alexis Hammond.
This week The Wall Street Journal released an article sharing the strength of the multifamily market. Two separate purchases lead many investors to believe that this is a sign of constant and long lasting growth for the multifamily market. Check out the full article here to learn more.
Posted on 20. May, 2014 by Marc Courtenay.
On Friday May 16 the economic numbers turned Goldilocks-style “not to cold and not too hot”, and property managers need to be on top of these developments. First of all, the interest rate on the benchmark 10-year U.S. Treasury bond dropped to 2.5% from 2.7% in just one week’s time. That’s a 7.4% plunge, and […]
Posted on 27. Feb, 2014 by Marc Courtenay.
As 2014 begins a bureau created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, The Consumer Financial Protection Bureau (CFPB), will set new rules concerning mortgages. Lenders will be required to verify and inspect borrowers’ financial records. The rules discourage lenders from allowing borrowers to carry total debt payments totaling more than 43 percent of the person’s annual income.
Posted on 17. Feb, 2014 by Marc Courtenay.
Housing affordability isn’t looking too promising as 2014 begins. If you listen to the National Association of Realtors the opportunity to be a homeowner hasn’t been this affordable in a long time. If you review Figure 2 below you’ll get the impression that American housing is now extremely affordable and the typical household can easily make the monthly mortgage payment on a home. Thanks to historically low interest-rates, fixed rate mortgages have become more affordable for some American families and many analysts expect that this cheap credit will fuel another housing boom.
Posted on 29. Jan, 2014 by Bryan Ives.
A recent report by Dallas based-research firm Axiometrics lists the top 10 metros with the highest occupancy rates. According to the report, three metro areas in Florida have occupancies greater than 95 percent.
Posted on 16. Dec, 2013 by Marc Courtenay.
Has the housing market begun to plummet due to rising interest rates? Are rental housing values about to crash? Those who read my articles know I’m frequently asking the questions that rental property owners and managers should also be asking. The answers are vitally important during these uncertain economic times. As of November 27, 2013 the yield on the 10 year Treasury bond sits at 2.74%. This is the benchmark interest rate impacting home mortgage rates, and it’s been stuck around this level for months.
Posted on 13. Dec, 2013 by Bryan Ives.
Since the housing crash in 2008, 4.6 million homes were lost to foreclosure causing the majority of those homeowners to become renters, according to CoreLogic. According to Harvard’s Joint Center for Housing Studies, there are now 43 million renter households. That’s 35 percent of all U.S. households, the highest rate in more than a decade for all age groups and 4 million more renters than there were in 2007.
Posted on 02. Dec, 2013 by Bryan Ives.
U.S. developers received approval in October to build apartments at the fastest pace in five years which could lead to economic growth. According to the Commerce Department, permits to build houses and apartments were approved at a seasonally adjusted annual rate of 1.034 million.