Fast Company’s Post

The point where this flatlined is the point where jurisdictions across Maryland contemplated rent control. It will be interesting to see how this reactive policy plays out compared to jurisdictions that stayed the course.

There is certainly opportunity for the brave or smart to think through starting rental projects today to deliver in late 25 and 26. However, with rate volatility and most debt and equity providers challenged to underwrite future rents, I expect supply to be constrained for a while (not to mention some folks struggling with legacy projects).

Opinion: Why agents are more essential than ever? Affordability concerns mean agents are also educators. Real estate agents play an undeniable and integral role in today’s housing market. Not just as facilitators of sales and rental transactions but also as educators to their current and future clients. Left to their own devices, most people — particularly renters — view the rental segment and the for-sale market as distinctly different and unrelated entities, with the latter one often perceived as being far out of reach. https://lnkd.in/g-KhFq-C

IS WALL STREET SHUTTING OUT INDIVIDUAL HOME BUYERS? Do Companies Create Higher Rents, Neglected Properties & More Evictions? Housing in Tampa Bay is becoming increasingly corporate-owned, a Tampa Bay Times analysis has found. Large companies have amassed around 27,000 homes across three counties. More than 70 percent of these properties are linked to institutional investors backed by Wall Street and private equity, the Times study shows. “They drive up the prices and lower the (housing) supply,” said Lei Wedge, a professor of finance at the University of South Florida Muma College of Business. “They’re affecting people’s everyday life now.” The companies have fueled a growing single-family rental market, which proponents say creates more options for those who can’t afford to buy. But while investors are not to blame for the region’s inflated rental and home prices, experts say they exacerbate the issue with tactics that shut out individual buyers, according to the Times.  Disproportionate concentration of ownership among a handful of companies has been linked to rising rent and sales costs as well as neglected property maintenance and higher eviction rates. https://lnkd.in/ez7Y9qvx

Another month, another goose egg for U.S. apartment rents. Rent change year-over-year came in essentially flat for a 10th consecutive month in April, up just 0.13%. It's the same ol' story: Rents are growing in low-supplied markets and falling in high-supplied markets, averaging out to zero nationally. For all the chatter about affordability and "overheating" and everything else, nothing correlates with market-level apartment rent change like supply. Rents continue to fall most (4-7%) in high-supply (and still high-demand, too, just not enough to keep pace with supply) markets like Austin, Jacksonville, Atlanta, Raleigh and Orlando. The silver lining for operators in these markets (and elsewhere) is that the depth of rent cuts are stabilizing ... meaning that while it's not getting better, it's also not getting worse ... and could stay that way through 2024. Meanwhile, rents continue to climb most (4-7%) in low-supply markets mostly in the Midwest, Northeast or in college towns (which also have little supply). That list of rent growth leaders has featured the non-usual-suspects of late -- the likes of Syracuse, Buffalo, Dayton, New Haven, Rochester, Lansing/East Lansing, Lexington, Lincoln, Madison, Louisville, Grand Rapids, Wichita and Providence. Among large markets, the top rent growth markets were Milwaukee, Cleveland, Kansas City, Washington DC and Virginia Beach -- all around 3% to 3.5%. What do those five share in common? No surprise: They're all adding supply at a below-average pace compared to the country as a whole. It's all about supply and demand. And remember that supply is the easiest variable to forecast. It's just starts pushed forward. And we know starts are plunging almost everywhere, which means lesser supply -- especially by the second half of 2025 and into 2026. So barring an economic shock that weakens demand drivers, the rent growth leaderboard will likely see a big shakeup / return to some normalcy by then, with today's laggards jumping up as supply wanes and concessions burn off. #multifamily #apartments #rentalhousing

Well, good morning! I've not ran into one person who's bought in the last 3-4 years that's said "I'd wish I'd rented" or "I'm unhappy with my purchase". What I have heard is I wish I'd bought sooner. When's Sooner? Today is sooner. Articles like this are for a purpose. there's an affordable housing crisis and those in the committees and associations we belong to are trying to get affordable housing opportunities to open up and getting shut down by boards. Articles like this are step one in the initiatives. We know that in Jacksonville there is a need for 150K+ affordable housing options. When you drive around and see all those new apartment complexes, those take YEARS to PLAN and BUILD. Nothings news. This is all part of the machine. I know there were a lot of people who would tell us that they would wait to buy a home. Interest rates are going to go down, markets would crash like 2008. For years they're saying this. I politely tell them that I'm as good at my job, as you are at yours. If you ever have any questions in the future, I'm here to help give you accurate information from a boots on the ground perspective. https://lnkd.in/e84-djiP

🏡 Austin Housing Market Update: From Frenzy to Correction 📉 The frenzied days of homebuying in Austin, Texas, where buyers offered six figures over asking prices, are over. The median price per square foot is down 9.5% from its peak two years ago, with the median list price now at $557,000 as of April. 💼 Austin's real estate boom, fueled by remote work and tech migration, is winding down. The sudden influx of newcomers strained inventory, leading to soaring prices during the pandemic. 📊 Despite new construction and people leaving, Austin's inventory remains tight, though rental listings have increased by about 20%. 💵 The median list price decline signals a correction in some parts of Austin, making prices more affordable. However, hotspots still see multiple bids, especially in areas close to downtown. 🛠️ Real estate professionals note a shift in the market dynamics, with homes staying longer on the market and fewer bidding wars. Sellers are now offering concessions and repairs that were uncommon during the peak of the pandemic. 🏙️ While Austin's housing market may not yet be a buyers' market on paper due to low inventory, buyers are slowing down, signaling a shift in the city's real estate landscape. #Austin #HousingMarket #RealEstate #MarketUpdate #Homebuying #Inventory #RemoteWork #TechMigration #NewConstruction #RentalListings #Affordability #MarketShift #Texas Learn more: https://lnkd.in/dPD6zf2f

As rental prices begin to stabilize, securing an apartment remains a competitive endeavor, especially for Gen Zers stepping into the market. Building a robust credit score is essential in positioning yourself favorably for landlords and rental agencies. This article outlines three practical strategies to help young renters establish and enhance their credit profiles, ensuring they are well-prepared before signing their first lease. https://lnkd.in/eBvkzJir

Build-to-rent trend hits an all-time high - With the prices of homes trending upwards, the build-to-rent homes coming on market have offered a small relief for some who are unable to purchase their own home currently. A home that would have cost $100,000 in the year 2010, would cost roughly $152,469 in today's market. While the cost of buying a home has doubled, the average salary has not kept pace with inflation and has therefore made it difficult for prospective home buyers to sustain a safe balance between their income and expenses. Rent-to-Own homes allow for more flexibility in housing options. Tenants are able to enjoy the perks of living in a single family home, without the headache of coming up with a large deposit, closing costs, and future maintenance costs that come along with buying and owning a home. https://lnkd.in/gj8gg25N #cincinnati #ohio #cre #commercialrealestate #buildtorent #singlefamily #development #construction #rentalmarket #homeownership #cost #rent #multifamily #apartments #flexibility #management #nky

Families could finally catch a break on one of the biggest bills they might pay each month: the rent. The sting of rent inflation hit tenants hard the past two years, due in part to record demand and not enough supply. The surge in monthly rent for a primary residence peaked in March 2023 at 8.8% higher than the year before, according to the Labor Department. Now the outlook for renters is improving on several fronts. Landlords might have to work harder to attract tenants since there has been a wave of new construction and a rise in vacancies. This means tenants are more likely to be offered extras, such as a gym membership or other amenities. People looking for a new place to rent are now more likely to score deals than in recent years. Those hoping to renew their lease could also have more bargaining power than they did a year or two ago. The bidding wars that helped drive up rents beginning around 2022 seem to have subsided, real-estate agents said. The rise in rents cooled along with overall prices. Rent inflation for studios to two-bedrooms in the top 50 metros declined for seven consecutive months, with the national median asking price falling to $1,717 in November 2023, according to Realtor.com. In the rent-vs.-buy debate, the math should continue to favor renters, at least in the short term, said Jiayi Xu, an economist at Realtor.com. This advantage will likely diminish as home prices and mortgage rates decline. Renters might also benefit from falling mortgage rates, said Chen Zhao, an economist at Redfin. If enough people leave the rental market to buy homes, that could translate into additional rental vacancies and potentially lower rents, she said. Existing tenants who want to capitalize on a softer market and renegotiate their lease might wish to highlight the benefits of their stay such as saving the landlord the time and costs of screening new applicants, said Xu. In recent months, concessions, such as a month of free rent or a parking space thrown in, are on the rise, said Emily McDonald, Zillow rentals spokeswoman. The share of rental listings offering concessions rose to 32.7% in December 2023, up from 30% in October. These concessions can lead to savings for renters since they effectively lower the overall costs. Renters might see more concessions such as the reduction or elimination of security deposits and application fees in the coming months, said McDonald.