A fantastic article that anyone concerned abot real estate and the housing markets should read. - Tim Ballering
From 2009-2012, the top 1% of Americans captured 95% of income gains. Now, as the housing market rebounds, billions of dollars in recovered housing wealth are flowing straight to Wall Street instead of to families and communities. Since spring 2012, just at the time when Blackstone began buying foreclosed homes in bulk, an estimated $88 billion of housing wealth accumulation has gone straight to banks or institutional investors as a result of their residential property holdings, according to an analysis by Tom Dispatch. And it’s a number that’s likely to just keep growing.
via naked capitalism.
Stuck with homes they no longer live in but cant sell, owners who dont want to walk away are reluctantly resorting to renting them out to try to cover expenses.
But what about situations where you enter your rental and the tenant may be stressed as a result…Which for many tenants is anytime you show up! Such as physical rent collections an action I am strongly against, routine inspections, correcting tenant caused maintenance issues and others.
Donovan take[s] an anti-investment position as he separates them from homes of primary residence and alludes to homeownership almost as a right, also alluding that real estate investment homes are subject to being rejected as less than worthy.
via agentgenius .
“Good real estate, good tenancy and quality management will stay leased,” Mr. Hurwitz said. “Distressed real estate will go deeper into distress
The fate of that ordinance now is in the hands of Judge Eric Hylden after the landlords’ attorney, J.D. Feriancek, asked the court to extend a temporary injunction granted by Judge John DeSanto last week. That restraining order has blocked the city from implementing the rental ordinance, which is designed to control the conversion of single-family homes into college-neighborhood rentals.
via Duluth News Tribune
From the tenants perspective no matter how much they have trashed the property they still expect their security deposit returned in full…
via biggerpockets .
Good news for landlords, bad news for renters as U.S. Census Department and Rent.com agree that double digit rent hikes are on the way across America. Traditional news outlets point to this as a sign of economic recovery, we point to it as a sign of the opposite.