Nov 18

Single-family zoning not only segregates people by race and class, but also artificially increases prices and hurts the environment. By outlawing the construction of duplexes, triplexes, and other multifamily units, single-family zoning artificially constrains the housing supply, driving up prices by government fiat. “When you have demand that is sky-high, and you don’t have the supply to keep up with it, prices rise. Rents rise,” noted Minneapolis’s mayor, Jacob Frey.

Source: How Minneapolis Defeated NIMBYism – The Atlantic

Nov 08

Average apartment rent prices in Milwaukee increased 3.7% year-over-year in May, a higher rate of increase than the national average though rental prices for the city are still well below the nationwide average, according to a new report.

Source: Report: Milwaukee rent prices increased 3.7% year-over-year in May

Nov 07

How did we get here? Simply put, bad government—from outdated zoning laws to a 40-year-old tax provision that benefits long-time homeowners at the expense of everyone else—has created a severe shortage of houses. While decades in the making, California’s slow-moving disaster has reached a critical point for state officials, businesses and the millions who are straining to live there.

Source: California’s Affordable Housing Crisis: Why Prices Are So High and How to Solve It

Nov 01

“What we heard loud and clear is that property management has changed,” Litster said. “Property management is complex, yes, but what has changed is the environment around it.” He cited five substantial elements, macro trends, that show how property management is changing. Cost of housing Legislation and regulation Industry consolidation and owner mix Changing tenant demographics and generations How technology is changing everything

Source: The Job of Property Management Is Changing, Survey Shows

Oct 09

It’s a disturbing twist to the phenomenon I’ve dubbed the Great Reset. A large and growing component of the shift, or reset, from homeownership to rental housing is made up of single-family homes that were once owned but are now rented. The NBER study estimates that the 4 percent decline in America’s homeownership rate, from 67 percent before the crash in 2007 to 63 percent in 2014, means that roughly 1.5 million American households have shifted from owners to renters.

Source: The Decline in Owner-Occupied Single-Family Homes – CityLab

Jun 30

Despite the flood of store closings in recent years and the growth of online shopping, many retailers are looking to add brick-and-mortar locations.While store closings more than tripled last year to a record 7,000, that number was partly offset by 3,400 store opening announcements, a 50% surge, according to Coresight Research, a retail think tank. In 2018 there have been 4,100 store closing announcements and 1,900 planned store openings.

Source: Which retailers will be moving into all those empty Toys ‘R’ Us stores?

Jun 23

One portion of the lawsuit even reads, “The city is intentionally trying to lighten black neighborhoods, and the way they have primarily been doing it is through construction of high density, luxury buildings, that primarily only offer studios and one bedrooms.”

Source: How ‘opportunity zones’ can curb gentrification problem | AL.com

Jun 23

Gene Lewis has been a landlord for more than 40 years and has around 100 properties across Minnesota, including some in Le Sueur County. More than in the past, he says he struggles to find tenants who take care of his properties. These days, he said, he spends thousands of dollars between tenants to fix up units, and the day before he talked to MinnPost, he and an employee spent hours removing trash from the yard of one of his units. Lewis says he tries to be understanding, but more tenants today don’t pay

Source: Greater Minnesota’s eviction problem | MinnPost

Jun 16

Juwai.com predicts, according to the Wall Street Journal, that Chinese investors will plow $1.5 trillion into assets abroad over the next decade, with about half of that going into foreign property.The exact number of investors in China that have piled into these housing markets is still nebulous, despite some efforts locally to collect data on it. But home prices have soared under this buying pressure of foreign money, and now, after years of denying it, politicians are no longer denying it.

Source: China: investors inflating housing markets in US, Canada, Australia – Business Insider

Jun 12

A recent decline in fertility was sharpest in counties where home values rose the most, and the change was smaller—and sometimes even up —where home value growth was weaker. An extra 10 percentage-point rise in home values was associated with an extra 1.5 percentage-point drop in birth rates for 25- to 29-year-old women.

Source: Birth Rates Dropped Most in Counties Where Home Values Grew Most – Zillow Research

preload preload preload