By Ryan Jackson The boom in new apartment rental construction will lead to a rebound in homeownership, according to UCLA real estate economist David Shulman. The researcher made the prediction in the university’s Ziman Center real estate economist letter. “After an agonizing six year decline where nearly $7-trillion of wealth was destroyed, the housing economy… Continue reading Rental Boom Will Lead to Homeownership Rebound
Category: Rental
Rents Rise to Menace Market
Home and apartment rents are rising in the majority of the U.S. and are expected to sustain higher increases over coming months to menace the housing market, according to a survey of residential property managers. The new TransUnion survey found that both large and small property managers are faring better than they were a year… Continue reading Rents Rise to Menace Market
Home Purchases Jump Two Weeks
By Mike Colpitts Led by a jump in conventional mortgage applications, home purchases rose for the second week in a row signaling a positive turn for the U.S. housing market, according to the Mortgage Bankers Association weekly index. Pushed by record all-time low mortgage rates, buyers turned out to take advantage of the historically low… Continue reading Home Purchases Jump Two Weeks
Group Launches $100 Million Home Rehab
An innovative non-profit group has launched an aggressive $100 million campaign to rehabilitate thousands of homes left to decay in blighted urban neighborhoods as a result of the U.S. foreclosure crisis. The organization has qualified for financing to repair vacant homes from bankers to help damaged neighborhoods. The group’s chief executive says a new initiative… Continue reading Group Launches $100 Million Home Rehab
Renters Face Severe Affordability Shortage
By Mike Colpitts Homeowners forced to rent homes and apartments as a result of foreclosures are finding the lowest affordability of rental housing in decades as rental rates in the majority of U.S. cities climb, according to a national housing advocacy group. An estimated 70% of low income tenants are finding housing unaffordable in the… Continue reading Renters Face Severe Affordability Shortage
Real Estate Investment May Turn Stable
By Mike Colpitts Real estate investments have taken a financial beating the past five years, but could evolve into a more stable investment, despite poor macroeconomic conditions in the U.S., according to a private real estate investment equity firm. Investors with access to large amounts of cash, who are able to avoid debt, are likely… Continue reading Real Estate Investment May Turn Stable
Almost 1 in 3 Adults Live With Relatives
By Mike Colpitts A sinking economy and declining home prices are eliminating urgency for most homeowners and renters to buy homes, despite record low the mortgage rates, according to a new study. But doubling up or living with adult children, relatives or parents has increased more than since the days of the Great Depression. Nearly… Continue reading Almost 1 in 3 Adults Live With Relatives
Renters Ripoff Landlords in $6 Million Mortgage Scam
By Mike Colpitts In a rare turnaround of sorts, seven people have been arrested for allegedly posing as homeowners of the homes they were renting and applying to take out nearly $6-million in home equity mortgages. The seven were arrested in Southern California by sheriff’s investigators after a major investigation, including the FBI led to… Continue reading Renters Ripoff Landlords in $6 Million Mortgage Scam
Rent Prices Jump on Housing
By Mike Colpitts Rental rates for homes and apartments are rising and it appears rent prices are accelerating, according to a survey by an online real estate search firm. The report, issued by HotPads.com reveals that rental listing prices have increased an average of nearly 7% in the last year. Listings on studio and 5-bedroom… Continue reading Rent Prices Jump on Housing
Investor Purchases Rack Up
By Mike Colpitts Investors shopping for a deal are purchasing more than one-in-five residential properties in the U.S. and make up the second largest share of home purchasers right behind first time buyers. The rise in investor purchases has been developing over the last year as home values and the prices on all sorts of… Continue reading Investor Purchases Rack Up