Michael Whited Jr.’s Post

#MultifamilyInsights from Michael Whited Jr. 💡 📦 Renters are facing a tough market as the median rent continues to rise. While rents for studios and one-bedroom apartments have declined due to oversupply, rents for larger units have increased. 🤔 There is a need for more diverse construction to address the housing affordability problem, including family-oriented units and more affordable options without resorting to artificial rent control. Share your thoughts in the comments ⬇️

Owing to strong population growth, #DFW has witnessed significant new #apartment #development the last several years. One issue that is always talked about is #affordability and how fast rents have ramped up. While it is true these new units are $600 per month - 46% more pricey - than what the market had been prior to the run-up, residents are accepting these rates! I would have expected to see some lease-up "resistance" in these newer units as evidenced by lower #occupancy with the newer units lagging the overall market. To my surprise, this is not the case. In fact, units delivered between 2018 and 2021 have occupancy right at the long-term market average, despite the much higher rents! That suggests we will continue to see upward pressure on rents, although it does feel pretty frothy right now - and it is unclear at what point residents may balk at further increases. Check out our snapshot below by clicking on the chart. Avison Young | US

Did you know that the median square footage of single-family homes under construction has shrunk significantly from 2,450+ in the mid 2010's to 2,179 in 2023? (They were 900+ Sq ft in the much-vaunted 1950's when family sizes were much, much larger). This is partly due to the surge in townhouse construction, which recorded the best quarter for starts in more than 17 years. Here are three reasons why this trend is good news for housing affordability: ·      Townhouses offer a more affordable and efficient option for homebuyers who want to live in medium-density residential neighborhoods, such as suburban or urban villages that offer walkable environments and other amenities. ·      Townhouses help increase the supply of housing units in high-demand areas, which can ease the pressure on prices and rents. ·      Townhouses appeal to a growing segment of the market, especially Millennials, who are looking for smaller, greener, and more flexible living spaces. If you are interested in learning more about townhouse construction and its impact on housing affordability, check out the latest NAHB analysis of the Census data of Starts and Completions by Purpose and Design. #housingmarket #homebuilding

As the dynamics of the NYC rental #marketshift, recent data highlights a sharp increase in rent prices, making the challenge of #affordablehousing even more pressing. The New York Times reports a 12% surge in rental prices over the past year, with median rents now hitting a record $3,500 per month. Some important key takeaways from the article include: Rising Rent: The average cost of a one-bedroom apartment has climbed to $3,500, up from $3,125 just a year ago. #Affordability Concerns: Almost 60% of NYC renters are now allocating over 30% of their income to housing, crossing a crucial affordability line. Supply & Demand Imbalance: The ongoing shortage of available rental units is intensifying the affordability crisis.

🔍🏘️ In a significant market adjustment, America's leading homebuilders are now emphasizing the construction of smaller houses, signaling a pivot towards more accessible housing. Recent census data highlights a 4% reduction in the median size of new homes to 2,179 square feet, the lowest since 2010, accompanied by a 6% decrease in new-home prices. This trend not only reflects changing consumer preferences but also the industry's response to the urgent need for affordable housing solutions. Professionals in real estate and construction, how do we see this impacting the future of housing development? #RealEstateTrends #AffordableHousing #MarketInsights

D.C.-area apartment rents have fluctuated since the pandemic’s start, plunging in 2020 and then slowly recovering. While the long-term rent growth is well behind the growth seen nationally, in the last year, rents in D.C. region have accelerated. #DCRentTrends #HousingMarket2024 #RisingRents #SuburbanGrowth #DMVRentalUpdate

In today’s housing market, multi-generational living is becoming increasingly popular. Families are looking for homes that can accommodate aging parents, adult children, or extended family members. Multi-generational properties offer the benefits of shared expenses, mutual support, and closer family bonds. If you're considering purchasing a multi-generational home, it’s important to understand what features and layouts are most desirable. This article will explore key aspects to look for in multi-generational properties and how these features can add value to your home. For more articles on the Silicon Valley Real Estate Market, Visit my website at https://lnkd.in/ec-i8-8k If you are a buyer and want to work with me click on https://lnkd.in/ezhMdDEE If you are a homeowner considering selling click on the link below https://lnkd.in/euywiasj If you are an investor looking for off market properties click the link below https://lnkd.in/eF2wNaD6 #Compass #Thebryanholmesgroup #SiliconValleyRealEstate #WhoYouWorkWithMatters #Realtor #RealEstateExpert #LuxuryRealEstate #RealEstateInvestment #realestate #realestateagent #realtorlife #luxuryhomes #sold #listing #RealEstateInvestment #OffmarketRealEstate #buyersagent #listingagent #justlisted #flipthishouse #investoragent

Mobile Homes: Why Their Values Stay Stronger Than Ever Historically, mobile homes have depreciated over time, but current trends suggest that the value of manufactured housing could remain more stable than ever before. Here’s why: 1. High Population Density and Affordable Housing Shortage: With increasing population density and a persistent shortage of affordable housing options, there’s growing pressure on the housing market. Rental rates are skyrocketing, and many consumers are struggling to find quality housing under $2,500 per month. 2. Manufactured Housing on Leased Land: Manufactured homes, especially those on leased land, are emerging as a viable solution. These homes offer a more affordable alternative compared to soaring rental prices. When the cost of a manufactured home aligns with market rents and is financed with a solid loan, it essentially establishes a new market price. 3. Market Conditions and Value Appreciation: In Arizona, we've already seen an appreciation in manufactured home values over the past five years. If rental rates remain high or continue to rise, the value of these homes is likely to remain strong. A stable or increasing rental market supports the value of manufactured housing, as it becomes a more attractive option for those seeking affordability. 4. Future Outlook: While it's impossible to predict with certainty, if rental rates stay consistent with current trends, manufactured housing in communities on leased land will likely continue to hold strong in value. Should rental rates increase further, it could potentially enhance the attractiveness and value of manufactured homes even more. In summary, manufactured housing is poised to remain a robust option in the face of escalating rental rates and limited affordable housing. With demand high and options limited, the value of manufactured homes may well continue to appreciate or at least hold steady. https://lnkd.in/gADHx-6k #ManufacturedHomes #MobileHomes #AffordableHousing #HousingMarket #RealEstate #PropertyInvestment #ArizonaRealEstate #HousingCrisis #HomeOwnership #RentalRates #InvestmentProperty #LeasedLand #HomeValues #HousingAffordability #RealEstateTrends #MarketAnalysis #HomeAppreciation #RealEstateInvesting #ManufacturedHousing #HousingSolutions

Exploring the housing market in Virginia reveals some intriguing insights. Did you know that certain areas are renowned for their sky-high real estate prices? This article highlights the most expensive places to buy a home in the state, showcasing neighborhoods where luxury meets community living. Imagine considering a move to one of these upscale locales. What factors would be on your checklist—proximity to work, quality of schools, or perhaps local amenities? It's important to weigh your options carefully and seek guidance from financial experts before making such a significant investment. Where do you see yourself thriving in Virginia? #RealEstate #HomeBuying #InvestmentTips #VirginiaHomes #FinancialWisdom https://lnkd.in/eyKcjCpT ez Home Search, Inc.