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By jgaffney@housingwire.com Who said it? “The CFPB turns five this year and in that short amount of time has already returned more than $11.4 billion to over 25 million Americans who have been harmed.” Click to find out! …read more

From:: Real Estate Wire

By Susanne Dwyer

Following a disappointing (and downwardly revised) 11,000 jobs gained in May, the economy generated a whopping 287,000 jobs in June. The good news is that this moderates the slowdown in job growth that many expected, which will provide some relief to jittery financial markets. However, the larger story remains a gradually weakening economy and moderating employment growth.

The increase in the unemployment rate to 4.9 percent in June was not entirely surprising after the 0.3 percentage point drop in May. If employment continues to grow by about 150,000 a month, which is the rate in the past two months, the unemployment rate will continue to decline. The year-over-year wage growth continues to climb, reflecting an economy moving towards normal labor market tightness.

For more information, visit www.conference-board.org.

…read more

From:: Finance and Economy

By Susanne Dwyer

Following a disappointing (and downwardly revised) 11,000 jobs gained in May, the economy generated a whopping 287,000 jobs in June. The good news is that this moderates the slowdown in job growth that many expected, which will provide some relief to jittery financial markets. However, the larger story remains a gradually weakening economy and moderating employment growth.

The increase in the unemployment rate to 4.9 percent in June was not entirely surprising after the 0.3 percentage point drop in May. If employment continues to grow by about 150,000 a month, which is the rate in the past two months, the unemployment rate will continue to decline. The year-over-year wage growth continues to climb, reflecting an economy moving towards normal labor market tightness.

For more information, visit www.conference-board.org.

…read more

From:: Real Estate News

By Susanne Dwyer

With the U.S. homeownership rate falling to its lowest rate since 1967 in July 2015, this has been a banner year for many rental property owners, with vacancy rates at their lowest since 1993, according to a new inaugural rental report by All Property Management, a Buildium subsidiary. The rental market in the U.S. reached $173 billion in 2016, and although rents rose significantly, they still increased at a lower rate than that of the median U.S. home price. In addition to these market statistics, some of the results from this year’s report include:

The top five performing metros for the past year include: San Francisco, Calif.; Seattle, Wash.; San Jose, Calif.; Louisville, Ken.; and San Diego, Calif.

The Western U.S. is currently the best region for rental property investment, thanks largely to the impressive rent increases and property value appreciation found there.

Worcester, Mass. had the lowest vacancy rate with 3.05 percent, and Birmingham, Ala. came in at the bottom spot with a 17.67 percent vacancy rate. The percent change in median rent was best in Buffalo, N.Y. at 16 percent and worst in Hartford, Conn. at -6 percent.

“Our inaugural report was created to serve as a valuable resource for real estate investors, property managers and landlords throughout the U.S.,” says Michael Monteiro, co-founder and CEO, Buildium. “Our team compiled data from a variety of sources to bring together the most useful information and help those in the real estate industry source new properties and to help in setting rents and fees, assessing value and benchmarking performance.”

The report also looked at other factors pertaining to the quality of real estate investments. Some additional data points include the capitalization rate, or the comparison of median rental prices to median property values (Dayton, Ohio had the highest percentage at 13.15 percent) and property appreciation, where San Francisco, Calif. had the highest percentage at 7.34 percent. The report also looked into job growth (San Jose, Calif. had the highest growth at 19.11 percent), days on the market (San Francisco, Calif. had the lowest number of days at 33) and future rental availability, where Austin, Texas experienced the best percentage at -1.47 percent. Finally, the research also included data on job availability, where it compared population numbers to current job openings (San Jose, Calif. had the highest availability at 36), and the cost of insurance premiums and property taxes, where Salt Lake City, Utah came in with the lowest cost.

For the full Rental Ranking Report, visit http://www.allpropertymanagement.com/rental-ranking/

…read more

From:: Finance and Economy

By Susanne Dwyer

With the U.S. homeownership rate falling to its lowest rate since 1967 in July 2015, this has been a banner year for many rental property owners, with vacancy rates at their lowest since 1993, according to a new inaugural rental report by All Property Management, a Buildium subsidiary. The rental market in the U.S. reached $173 billion in 2016, and although rents rose significantly, they still increased at a lower rate than that of the median U.S. home price. In addition to these market statistics, some of the results from this year’s report include:

The top five performing metros for the past year include: San Francisco, Calif.; Seattle, Wash.; San Jose, Calif.; Louisville, Ken.; and San Diego, Calif.

The Western U.S. is currently the best region for rental property investment, thanks largely to the impressive rent increases and property value appreciation found there.

Worcester, Mass. had the lowest vacancy rate with 3.05 percent, and Birmingham, Ala. came in at the bottom spot with a 17.67 percent vacancy rate. The percent change in median rent was best in Buffalo, N.Y. at 16 percent and worst in Hartford, Conn. at -6 percent.

“Our inaugural report was created to serve as a valuable resource for real estate investors, property managers and landlords throughout the U.S.,” says Michael Monteiro, co-founder and CEO, Buildium. “Our team compiled data from a variety of sources to bring together the most useful information and help those in the real estate industry source new properties and to help in setting rents and fees, assessing value and benchmarking performance.”

The report also looked at other factors pertaining to the quality of real estate investments. Some additional data points include the capitalization rate, or the comparison of median rental prices to median property values (Dayton, Ohio had the highest percentage at 13.15 percent) and property appreciation, where San Francisco, Calif. had the highest percentage at 7.34 percent. The report also looked into job growth (San Jose, Calif. had the highest growth at 19.11 percent), days on the market (San Francisco, Calif. had the lowest number of days at 33) and future rental availability, where Austin, Texas experienced the best percentage at -1.47 percent. Finally, the research also included data on job availability, where it compared population numbers to current job openings (San Jose, Calif. had the highest availability at 36), and the cost of insurance premiums and property taxes, where Salt Lake City, Utah came in with the lowest cost.

For the full Rental Ranking Report, visit http://www.allpropertymanagement.com/rental-ranking/

…read more

From:: Real Estate News