Renters are finally setting their sights on homeownership, according to an analysis released by credit reporting agency TransUnion on Thursday. In Q1 of 2017, a whopping 55 percent of all home shoppers were non-homeowners or renters. The share of renter home shoppers represents a marked uptick over previous years. In Q1 2016, half of all shoppers were…
Inventory shortages are weighing down just about every housing market, with supply on all sides—renter- and owner-occupied—on a months-long downtrend. A new multifamily report now estimates that by 2030, some 4 million new apartments alone will be needed to keep pace with demand. “Apartment rentals are on the rise, and this trend is expected to…
The owner of several Reno, Nevada apartment complexes has agreed to pay $20,000 to settle allegations pet discrimination and Fair Housing Act violations involving requiring pet deposits from prospective tenants who require assistance animals, according to a release. The Silver State Fair Housing Council filed four complaints against the owner and manager of Silver Lake Apartments,…
As many as 10,000 baby boomers retire daily. Members of this generation are increasingly looking to real estate to diversify their retirement portfolios and boost returns. Many boomers have realized their retirement plans are not sufficient and have turned to alternative investments, such as real estate, to compensate. About 30% of baby boomers have no retirement savings and one-quarter…
Rising interest rates are one of the real estate market’s soft spots. The increase of the Federal interest rate led to numerous forecasts, many of which report the anticipation a decrease in transaction volume and units coming online. Sean Burton, CEO of investment management and development firm CityView, shared his view on the matter with Multi-Housing…
Freddie Mac has upped the ante on its securitization programs. In June the company issued hundreds of millions of dollars in bonds secured by loans to affordable housing properties. “That means lower transaction costs and interest rates for long-term financing,” says David Leopold, vice president of targeted affordable sales and investments for Freddie Mac. “Because…
U.S. home resales unexpectedly rose in May to the third highest monthly level in a decade and a chronic inventory shortage pushed the median home price to an all-time high. The National Association of Realtors said on Wednesday existing home sales increased 1.1 percent to a seasonally adjusted rate of 5.62 million units last month….
Domestic and global investment in multifamily housing is on the rise throughout the United States—especially for Class B and C properties. Several contributing factors have fostered this development, including an oversupply of Class A communities in combination with a drop in demand, the rising cost of homeownership, and millennials entering the market by the millions….
Inventory shortages are weighing down just about every housing market, with supply on all sides—renter- and owner-occupied—on a months-long downtrend. A new multifamily report now estimates that by 2030, some 4 million new apartments alone will be needed to keep pace with demand. “Apartment rentals are on the rise, and this trend is expected to…
A diminished supply of available homes is swelling prices in large U.S. metro areas from New York to Miami to Los Angeles, squeezing out would-be buyers and pushing up rents as more people are forced to remain tenants. The trend is pressuring Americans’ budgets, with about one-third of households spending more than 30 percent of…