Daily Data
CNBC reports that "Bidding wars erupt for renters as the economy recovers in a hot housing market." What does that mean for you?
- For a stronger application, renters are coming to you with higher credit scores, higher security deposits, and a stronger rental history.
- "In July, rents nationally rose 7% year over year for one-bedroom apartments and 8.7% for two-bedroom apartments. That is up from 5% and 6.5% annual gains in June, according to Zumper, a national rental listing platform."
- For every quality candidate coming through the door, there's a current resident who can't make ends meet. One landlord reported losing $30,000 during the pandemic so far for this reason.
What are you seeing in your investment markets? Let us know and you could be featured on The Grind's social media!
Hate to Burst Your Bubble, But You're Not in One
Don’t let the idea of another housing bubble scare you. Over the last year, countless parallels have been made between the effects of the pandemic and the Great Recession, and even the layperson worries about the possibility of a market crash.
But if you’re still nervous about being in a bubble, here are other tell-tale signs to watch for in your market.
The Take
What makes this moment in our economy unique? Pretty much everything! Still, there are lessons to be learned about economic trends that apply to what we're seeing day to day—and what we're likely to see in the months and years ahead.
Click the picture above to download the Take of the week!
The Word
Check out our recommended reading for the week:
- Sellers are putting more unbuilt or incomplete houses on the market (Axios)
- What do you do when you face supply issues in the real estate market? You buy before the "supply" is even ready, apparently!
- Why should you care? Trends like these will affect all aspects of the market for months to come.
- Homeowners are building wealth at record rates without doing a thing (Marketplace)
- An influx of equity (like, I don't know, a trillion dollars) makes a huge difference in an economy like the one we're experiencing now.
- Why should you care? Did you miss the part about a TRILLION dollars?
- The End of the Housing Boom Will Be When Mortgage Rates Rise in 2022 (Forbes)
- You've heard us say it time and again—we are not in a bubble. But we should expect natural fluctuations in the market, especially as we emerge from pandemic-era buying patterns.
- Why should you care? Knowing what "end-of-boom" signs to look for will help you make wiser, more long-term investment moves.
- Q&A with Evercore ISI's Stephen Kim (Builder)
- This is an interview you want to check out if you're interested in where real estate and stock market investing meet.
- Why should you care? Cash-flow, build-to-order, and other real estate buzzwords-of-the-moment matter far beyond the real estate bubble.