This Is The Big Bad Wolf
A report from the Oregonian. "Tenants who still have a source of income are finding that rents are flattening, to their benefit. And some apartment managers, hoping to fill units in a market that had a recent flood of new…
It’s Like Parachuting In The Dark, We Don’t Know How Fast We Are Falling
It's Friday desk clearing time for this blogger. "Rising mortgage delinquency rates in Florida are raising fears that the coronavirus pandemic will lead to a foreclosure crisis as bad if not worse than the one that followed the 2008 housing…
Just Another Boom-And-Bust Cycle, Although The Bust Is Happening At Lightning Speed
A report from Los Angeles Magazine in California. "'The hysteria over what’s happening right now is simply out of line with reason and reality. The Great Recession was driven by the collapse of a $15 trillion subprime bubble. Back then…
The Dislocation Is So Widespread It’s Almost Like The Entire Country’s For Sale Right Now
A report from Forbes. "What surprised Brian Carberry, Apartmentguide’s managing editor who crunched the numbers was, 'some of the areas with significant rent decreases were located near more expensive major cities.' Apartmentguide looked at annual average price declines on one-bedroom…
Issues Similar To Those Faced By Investors In The Years Leading Up To The Housing Bust
A report from the Sonoma County Gazette in California. "Some communities have established Vacation Rentals by Owner (VRBO) Exclusion Zones to keep housing and their neighborhoods protected from commercial use of residential homes, while others have tried and failed to…
People Are Going To Offer Fractions Of What They Offered Before
A report from the Wall Street Journal. "Corporate travel was the be-all for Mint House Inc., a provider of short-term upscale apartment rentals. As the pandemic hit in March, Will Lucas, the chief executive of the New York-based startup, watched…
The Buyers Want 50 Cents On The Dollar, And Sellers Are Still Remembering Prices From Nine Weeks Ago
A report from the Wall Street Journal. "In April and May, 354 apartment and office properties started missing payments on $7.1 billion in mortgages, according to Trepp LLC, which only includes loans packaged into mortgage bonds. That is up from…
They’re Very Much Under Water Right Now
A report from Summit Daily in Colorado. "People in the short-term rental business are still looking toward the future with anxiety and trepidation as the county’s ban on short-term lodging looms over their financial stability. Patty Whetham owns Breckenridge Rental,…
A Lot Of Folks Put Their Life Savings Into Their Property, Is It A Gamble? Sure
A report from the American Statesman in Texas. "Last month, Central Texas housing market expert Charles Heimsath anticipated that sales could plummet by 30% over the next three months, in what typically are among the busiest months for residential real…
Lenders Worry A Borrower Could Default At The Same Time Values Are Decreasing
A report from Yahoo Money. "With the jobless rate spiking into the double digits, more Americans may look to unlock the wealth tied up in their homes to get through the crisis. Problem is, banks won't give up the key.…