Monday, December 23, 2024

Renting Beats Buying Across The US

2024-01-18  |  housing 

... s versus typical home ownership costs at 91 percent).Although it stretches budgets, three-bedroom rentals are still most economical in the Midwest and South.According to the survey, 274 out of the 338 counties that were examined for the study (81 percent) have median three-bedroom rents that are higher than one-third of the average local wage.The Midwest and South account for 59 of the 64 markets where median three-bedroom rents are less than one-third of average local wages.The most reasonably priced rental areas include Caddo Parish (Shreveport, LA), Wayne County (Detroit, MI), Ingham County...

Demand For Second Homes is Cooling to Pre-Pandemic Levels

2021-06-10 08:52:09  |  housing interest rates 

... make up just 7% of a lender's total pipeline. That's on top of regulations that make it difficult to get a loan for condo towers in resort areas that may be used as short-term rentals. "In addition to tighter lending rules, vacation-home buyers are starting to react to rising prices," said Redfin Chief Economist Daryl Fairweather. "Home prices have been climbing rapidly for the last several months, and it seems they've finally gotten prohibitively high for some people searching for second homes. Vacation-home buyers are quicker to back away from properties that are potentially overpriced be...

Investor Home Purchases Rise for First Time in a Year

2021-05-19  |  real estate 

... because they see the intensifying shortage of homes for sale as an opportunity. With so few houses on the market, many families are resorting to rentals. Flush with cash, investors are able to snap up the homes that are available, and then turn around and rent them out to folks who can't find a home or are priced out of homeownership. This is likely making the housing shortage even worse, and also means that individual homeowners sometimes end up competing with investors in bidding wars." A frothy stock market is another factor that could attract more investors to real estate, according ...

Inflation Spikes in April

2021-05-12 12:10:00  |  economy 

... e insurance index continued to rise, increasing 2.5 percent in April. The index for car and truck rentals increased sharply in April, rising 16.2 percent. The index for new vehicles rose 0.5 percent in April after being unchanged in each of the last 2 months. The index for communication rose 0.4 percent in April after being unchanged in March. The apparel index rose 0.3 percent in April after declining in each of the 2 prior months. The indexes for education, alcoholic beverages, personal care, and tobacco also increased in April. The medical care index rose 0.1 percent in April,...

Top U.S. Metros For Digital Nomads

2021-04-28 12:00:10  |  workplace 

...  9. Las Vegas, Nevada Typical rental rates: $1,275 per month Las Vegas boasts the second highest affordability index score out of all the other metros on our list. More than just the neon lights of the Strip, there is plenty to see and experience in Sin City. From hiking trails in Red Rock Canyon, to shopping at Downtown Summerlin to exploring the Arts District of Downtown Las Vegas. 10. Salt Lake City, Utah Typical rental rates: $1,761 per month Salt Lake City is most-popular for its accessibility to some of the world's most-popular ski runs and other outdoor recreation activities...

Remote Work Continues to Drive Record Demand for Second Homes

2021-04-08  |  pandemic housing 

... mes into Airbnb rentals and earn some extra income when they're not in town." The surging interest in vacation homes is indicative of the uneven financial recovery taking place throughout the U.S. Wealthy Americans are likely to have held onto their jobs—many with the freedom to work remotely—and they're earning money through a robust stock market and rising real-estate values. But people in lower income brackets are more likely to work in industries like restaurants, retail and hospitality that are still far from recovered. "This recession has driven wealthy and low-income Americans fu...

Three Million Renters At Risk Of Losing Homes

2021-03-29 12:00:00  |  housing 

... rds who need a steady cash flow to make mortgage payments and remain afloat. Last year, many young adults left their rentals to move back home, and one-third of rental listings were offering concessions this past fall as landlords tried to entice renters with benefits such as free parking or one-month free rent. And now with millions of U.S. renters at risk of eviction this summer coupled with increased rent growth across the U.S., finding new tenants without a record of evictions and with liquid funds to make security deposits may prove extremely challenging. An eviction crisis could be...

Auto Sales to Jump in 2021

2021-01-21 14:00:00  |  transportation spending 

...  sales were down only 8.6%. However, Edmunds experts say that a return to an in-person work environment should help maintain sales, and they anticipate a boost in daily rentals in 2021, which generally make up 12% of new vehicle sales but sank to 7.4% in 2020. Exciting new products will help breathe life into the automotive industry. 2021 will be a standout year for new vehicles. It will see the birth of a brand-new segment in EV pickup trucks, at least seven new electrified SUVs, and some popular off-road nameplate revivals including the Ford Bronco and Jeep Wagoneer. "It comes down to ...

Rents in Major Cities Continue to Decline

2021-01-21  |  housing rentals 

... year, respectively. It was followed by New Haven County, Conn.; Essex County, N.J.; and Monroe County, N.Y., which saw average gains of 13.3%, 11.9%, and 11.9%, respectively. Source: realtor.com...

Zillow Predicts Stronger Housing Market Across the Board in 2021

2020-12-28  |  housing 

...  rise The expected surge in demand for rentals, which are more common near city centers, is expected to bring big price increases and fewer concessions from landlords. That will put many renters in a tenuous financial position after they were hit hard by pandemic-related income loss. The rental market softened in 2020, with rents about flat nationally. In large metropolitan areas like New York, Boston and San Francisco, rents dropped for the first time in recent memory. Still, given the impact of shutdowns and layoffs on renter households, government assistance proved vital in keeping man...