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See how COVID-19 affected NYC rent prices
Rent prices are falling in much of New York City as residents continue to grapple with the COVID-19 pandemic. In Manhattan, the vacancy rate on rental units is now the highest in more than a decade, at nearly 4%, which is further fueling the decline. The median net rent price in Manhattan dropped 6.6%...
Enhancing team diversity and inclusion
“Our ability to reach unity in diversity will be the beauty and test of our civilization.” These valuable words were spoken by Gandhi more than a century ago. Though strides have been made, even in 2020 gender and diversity disparity still exist within real estate, particularly among multifamily investment companies. A Multifamily Executive study found that women...
Majority of the Americans think now is a good time to buy a home
That's a 9-point climb in Fannie Mae’s HPSI measurement Fannie Mae’s Home Purchase Sentiment Index, a composite index designed to track consumers’ housing-related attitudes, intentions and perceptions, increased nine points in June to 76.5. Although the HPSI is down 15 points year-over-year, June’s gain marked the second rise in HPSI since April’s almost record...
31% of renters may not be able to pay rent on time
Renters in Midwest and Rust Belt states seem to be hit the hardest According to a LendingTree analysis of data collected by the Census Bureau in its ongoing Household Pulse Survey, about 2.1% of all renting households deferred rent for the previous month’s payment at the end of May. But the number of people deferring rent varies...
AZ and FL home prices drop due to COVID-19
CoreLogic predicts a decline in home prices in nearly every state by next year due to unemployment Despite home prices increasing 4.8% year over year in May, a report by CoreLogic predicts home prices will stall over the summer and estimates a 6.6% decline by May of 2021. The CoreLogic Home Price...
Understanding eviction and avoiding future proceedings
With all 50 states in the process of unfolding plans to reopen the economy after the shutdown caused by the Covid-19 crisis, landlords and tenants alike are curious as to what this new normal will mean for rent payment, deferment or evictions. Like all things in the ongoing pandemic scare, those answers vary from state to state...
How can PropTech Industry go wrong with tenant experience
For more than 25 years, the real estate industry has engaged in an amenities arms race. It started with conference rooms and fitness centers — table-stakes by today’s standards, unless you live or work in San Francisco or New York — and escalated with the addition of private event rooms and roof decks. Fast...
Zillow Offers resumes in 20 out of 24 markets
Web traffic to for-sale listings keeps rising Zillow announced Tuesday morning that it would resume buying homes via Zillow Offers in five more markets, making 20 out of its 24 markets operational again since pausing the service due to COVID-19. Home sellers in Los Angeles; Riverside, California; Minneapolis; Cincinnati; and Orlando, Florida can once...
Houston Association of Realtors will stop using the word “master”
Will now be classified as "primary" The Houston Association of Realtors said it will stop using the term “master” when describing bedrooms or bathrooms via its multiple listing service. Instead, HAR will update the phrase to say “primary bedroom” and “primary bathroom,” according to the Houston Chronicle. While HAR will...
Diversify your real estate portfolio
I’ve always been a strong believer in diversification, or in other words, not putting all of your eggs in one basket. Typically, when we want to learn about how to diversify our assets, the information provided through general research is on how to diversify your overall portfolio that includes public investments, such as stocks and bonds, as...
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