Seriously Underwater Homes See Biggest Drop Since 2015 12/8/17
In their latest U.S. Home Equity & Underwater Report, ATTOM Data Solutions reports that in Q3 2017 there were over 4.6 million U.S. properties that were seriously underwater, down by more than 800k properties from the previous quarter and down by more than 1.4 million properties from Q3 2016 – the biggest year-over-year drop since Q2 2015.
U.S. Construction Spending Up 2.9% From October
The U.S. Census Bureau is reporting that total construction spending in October was estimated at a seasonally adjusted annual rate of $1.24 trillion, 1.4% above September’s revised number and 2.9% higher than October, 2016.
Outsmarting Jack Frost
Even though the current legislative climate for landlords in Oregon is very distracting, don’t let it keep you from protecting your property and preparing for winter. If they take the proper steps before winter comes, many landlords will avoid damage, unnecessary after-hours repair expenses, and lawsuits.
Yardi: Multifamily Rents Fall 2nd Month in a Row
According to the latest Yardi Matrix U.S. multifamily rents fell slightly for the second straight month, but they report that rates are stabilizing at moderate growth levels. The average U.S. rent in November $1,358 (down $1). However, year-over-year they increased 2.5%.
ABODO’s National Rent Report for December
National apartment listing site ABODO recently reported that the median nationwide rent price increased slightly for December to $1,040 for a one-bedroom apartment, which is a 2.4% increase since the beginning of the year.
Metros with the Fastest Growing Homeownership rates
According to the Census Bureau, the U.S. homeownership rate was 63.9 in Q3 of 2017 – which is nearly points lower than before the housing crisis. However, there are some areas of the country where homeownership is growing…but where and at what pace?
Mover Rate for Renters at Historic Low
As we close out the year, the Census Bureau recently reported that the rate at which renters moved in 2017 was at a historic low of 21.7%, compared to 35.2% back in 1988.
Number of Toilets Per Home Keeps Rising
According to a recent study the by the National Association of Home builders, single-families built after the 1990’s have an average of 3.1 toilets, 2.6 showers and 2.3 bathtubs. In addition the share of single-families with at least 2 bathrooms is now hovering around 97%, versus 1973 when only 60% had two johns.
Understanding a Bitcoin Transaction
Infographic: We’ve had several posts about the cryptocurrency Bitcoin and its potential to revolutionize real estate transactions. Now that its hovering around 15k per dollar more people are talking about it. So how exactly does this virtual currency work?