Weekly Update 2/14/20 Remodeling Cost vs Value!
Developers Build More Luxury Apartments Than They Have in Decades
The Wall Street Journal is reporting that the nation’s builders are on track to finish more new apartments in 2020 than in any year since the 1980s, however data from RealPage shows these new units are trending toward the higher end. Click here to read more.
Remodeling Magazine’s 2020 Cost vs Value Report
Remodeling Magazine recently released their 33rd annual Cost vs. Value Report comparing 22 remodeling projects & upgrades with the value they retain when the property is sold in 101 U.S. housing markets. Click here to read more.
2020 Rent Control Threats
Recently, the National Multifamily Housing Council issued an analysis of 2019’s housing market as well as looking forward into 2020. They rightly say that rent-control is an “existential threat to the industry” that needs to be a top priority. Click here to read more.
Large Cities See Rise in One-Person Households
According to recent census data, the share of single-person households has been significantly rising in America’s largest cities. A recent report from Yardi’s Point2Homes says that residents from established urban areas are increasingly living on their own. Click here to read more.
Oakland Bans Criminal Background Checks for Screening Tenants
Late last month, the city of Oakland, California passed an ordinance prohibiting landlords from asking about a potential tenant’s criminal history or even rejecting them for having a criminal record. As reported by the LA Times, Oakland’s ordinance is “the strictest of its kind in the state, covering both public and private housing.” Click here to read more.
America’s Housing Market Gained $11 Trillion in Value in Last Decade
According to new research from Zillow, the combined value of every residential home in the United States was $33.6 trillion at the end of 2019, up 3.4% ($1.1 trillion) from a year ago and 51% ($11.3 trillion) from the start of the decade.Click here to read more.
Small Town in Idaho Faces Dilemma as West Coasters Move-In
We have seen from recent moving data that Idaho is the top moving destination for folks seeking an interstate relocation. And, if you’ve ever been there you can hardly blame them – the state is gorgeous. A recent story in the Wall Street Journal takes a look at a small town in Idaho experiencing rapid growth in population, mostly from California transplants. Click here to read more.
President$ on Your Money
Infographic: Monday, February 17th is President’s Day. And since real estate investors all know that “cash is king,” today’s infographic from NerdWallet reminds us that the cash we carry (with a few exceptions) has portraits of our most revered Presidents. Click here to read more.