Real Estate News: Real Estate Investing Podcast

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Who's Slamming on the Real Estate Brakes in Texas? Mar 09, 2024

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Texas multifamily developers may have overshot their goal. They have pumped so much new product into the market, that many have slammed on the brakes for new builds as they finish up current projects. According to a detailed report in The Real Deal, Texas apartment developers have produced more apartments than almost any other group of US developers over the last three years. In Dallas, they put more than 20,000 apartments on the market last year. That's about twice the number of new apartments that opened up in New York with a much larger population. In Austin, the story is even more dramatic, with more than 17,000 new apartments on the market in 2023. Compared to Dallas with 1.3 million people, Austin only has 1 million.... ...You'll find a link to the full article in the show notes at newsforinvestors.com. If you'd like more information on the single-family rental business, be sure you've signed up for a free RealWealth membership. We help new and experienced investors find cash-flowing rental properties in markets with strong job and population growth. You can also connect with our network of real estate professionals and other single-family investors. And please remember to subscribe to this podcast, if you haven't already. Thanks for listening! Kathy Fettke Links: 1 - https://therealdeal.com/magazine/march-2024/texas-multifamily-developers-slam-on-the-brakes/ 2 - https://www.multifamilyexecutive.com/design-development/construction/texas-apartment-construction-starts-plunge-across-major-metros_o

The Real Estate News Brief: Another Bump "Up" for Inflation, Builder Challenges Continue, and a New Trend in Home Design Mar 07, 2024

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Bumpy Ride for Inflation Battle but No Big Worries with Latest Report Mar 01, 2024

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The latest report on inflation is showing the biggest increase in four months. It's the PCE report which is the Fed's preferred inflation gauge, and one that provides important data for a decision on rate cuts. The results were also in-line with expectations and what the Fed expects to be a bumpy ride back to its 2% target. PCE stands for the Personal Consumption Expenditure index. The Fed prefers this report over the Consumer Price Index because it more accurately reflects what substitutions consumers are making as prices rise and fall. But the Consumer Price Index or CPI also produces important data for the Fed's consideration along with the Producer Price Index or PPI for wholesale prices. And those two reports recently surprised us on the upside. The new PCE report shows similar upside results with a .3% increase in January and an annual rate of 2.4%. The Fed pays the most attention to the "core" rate, which eliminates food and energy. That reading was .4% higher in January with an annual rate of 2.8%. Keep in mind that the Fed wants to see continued progress in lowering inflation to the central bank's 2% target... ...Check for links to those stories in the show notes at newsforinvestors.com. Sign up for a free RealWealth membership while you are there for access to our market data. You might also want to check out our recent webinar on real estate lending with Richard Advani. He'll let you know your best options when it comes to real estate loans, and conserving as much of your own cash as possible. You'll find the webinar under the Learn tab. And please remember to subscribe to this podcast, if you haven't already. Thanks for listening! Kathy Fettke Links: 1 - https://www.cnbc.com/2024/02/29/pce-inflation-january-2023-.html 2 - https://www.marketwatch.com/livecoverage/pce-inflation-for-january-s-p-500-futures-slip-ahead-of-key-report/card/pce-shows-biggest-rise-in-u-s-inflation-in-four-months-7iq9v0hdKgUenOhzZ4pG?mod=home-page

The Real Estate News Brief: All-Cash Home Buyers, Huge Lawsuit Against NAR, Single-Family Rent Growth Feb 27, 2024

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In this Real Estate News Brief for the week ending February 24th, 2024... the 2023 numbers for all-cash home buyers, where NAR stands on a huge class-action lawsuit, and what's happening with single-family rent growth. We begin with economic news from this past week. Minutes from the Federal Reserve's late January meeting show that Fed officials are more concerned about cutting rates too soon than they are about waiting too long. Released this last week, the minutes show that most committee members were concerned about the risks of going too fast while only a few were concerned about the opposite. Chief U.S. economist for Oxford Economics, Ryan Sweet, told MarketWatch that he's worried this approach "could turn a soft landing into a bumpier one." He added: "If the central bank waits for clear signs that the labor market, or the broader economy, is deteriorating, they will be behind the curve."... ...You'll find links to all these stories in the show notes at newsforinvestors.com. You should also check out some of our webinars under the Learn tab if you'd like the latest on my 2024 forecast. Sign up for a free RealWealth membership and you'll have access to our entire site, including data on individual markets and why investors are choosing them for their portfolios. And don't forget to subscribe to this podcast, if you haven't already! Thanks for listening! Kathy Fettke Links: 1 - https://www.marketwatch.com/story/fed-officials-more-worried-about-cutting-rates-too-fast-than-moving-too-slow-minutes-show-ed35f77c?mod=federal-reserve 2 - https://www.marketwatch.com/story/feds-jefferson-says-he-expects-rate-cuts-later-this-year-e08f7383?mod=federal-reserve 3 - https://www.marketwatch.com/story/jobless-claims-drop-12-000-to-201-000-in-feb-17-week-743ca6c6?mod=economy-politics 4 - https://www.marketwatch.com/story/home-sales-rose-in-january-despite-record-high-prices-as-buyers-seized-on-lower-rates-1802758d 5 - https://www.freddiemac.com/pmms 6 - https://eyeonhousing.org/2024/01/all-cash-share-of-new-home-sales-remains-elevated-in-2023/ 7 - https://www.reuters.com/legal/litigation/home-buyers-can-sue-brokerages-over-real-estate-commissions-us-judge-rules-2024-02-21/ 8 - https://www.corelogic.com/press-releases/corelogic-us-annual-rent-growth-remains-slow-steady-december/

The Eviction Saga Continues for Landlords Hit by Covid Moratoriums Feb 23, 2024

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Apartment landlords are finally seeing positive revenue four years after Covid-related rent moratoriums, but the eviction saga continues. Landlords are able to replace non-paying tenants by evicting them, but the legal proceedings don't happen overnight. As you know, Covid triggered eviction moratoriums for tenants who weren't paying rent. That helped many people who lost jobs, got sick, or had other Covid-related issues. But the protections continued well past the end of the emergency. Although most of those moratoriums were canceled more than a year ago, some ended just months ago. According to BisNow, landlords are now slowly replacing tenants who don't pay their rent and are finally seeing revenue from those units. They reported during fourth-quarter earnings calls, that this sliver of revenue is helping multi-family focused REITs get back on their feet. This comes at an especially good time since many apartment landlords also face issues with higher costs from inflation and loan maturities that need to be refinanced at higher interest rates. As BisNow reports, "REITs eked out razor-thin margins over analysts' expectations" but it's enough to keep them afloat... ...That's it for this episode. You'll find a link to the BisNow report in the show notes at newsforinvestors.com. Sign up for a free RealWealth membership if you'd like to continue your real estate education. You'll also find opportunities for investing by logging into the investor portal. Again, it's free to be a member and take advantage of our market data. We appreciate you subscribing to this podcast also, if you haven't already. Links: 1 - https://www.bisnow.com/national/news/multifamily/multifamily-apartment-reit-2023-q4-earnings-bad-debt-new-supply-122946

The Real Estate News Brief: Inflation Speeds Up, U.S. Homes Growing Old, Investor Activity in Q4 Feb 22, 2024

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In this Real Estate News Brief for the week ending February 17th, 2024... why the latest inflation reports could delay a rate cut, why U.S. homes are growing older overall, and what share of home sales went to investors in the fourth quarter of last year... ...Investors are working their way through the tough housing market, with some success. Redfin reports that investors accounted for 26% of low-priced home purchases in the fourth quarter. And about two-thirds of those investor transactions were single-family homes. Looking only at the price points that investors are buying, about 46% were low-priced, 24% were mid-priced, and 28% were high-priced. Redfin agent, Carrie Caruthers, says: "I get tons of emails every day from investors looking for properties, but of course, they only want homes that are under market value, which are hard to come by. When they find those properties, they pile in." On that note, I'd like to add that you can get help finding those kinds of properties as a RealWealth member. It's free to join, and free to access our data and our resources. Potential qualified investors can also sign up for a free Q-and-A session with one of our investment counselors. No obligation, just information and support for your own real estate investing journey. Become a member and check out our website at newsforinvestors.com. And please subscribe to this podcast if you haven't already! If you have a few minutes, we'd also love a review. Thanks for listening! Kathy Fettke Links: 1 - https://www.cnbc.com/2024/02/13/cpi-inflation-january-2024-consumer-prices-rose-0point3percent-in-january-more-than-expected-as-the-annual-rate-moved-to-3point1percent.html 2 - https://www.cnbc.com/2024/02/16/january-wholesale-prices-rise-0point3percent-more-than-expected.html 3 - https://www.marketwatch.com/story/producer-price-index-rises-0-3-in-january-core-ppi-up-0-6-69e79209 4 - https://www.marketwatch.com/story/jobless-claims-decline-by-8-000-to-212-000-in-feb-10-week-e97ed8b9?mod=economic-report 5 - https://www.marketwatch.com/story/housing-starts-fall-sharply-in-january-to-lowest-level-since-august-2023-8a783ee5?mod=mw_latestnews 6 - https://www.marketwatch.com/story/builder-confidence-index-rises-to-five-month-high-on-expectations-that-mortgage-rates-will-drop-in-the-coming-months-c5d6eeac?mod=economic-report 7 - https://www.freddiemac.com/pmms 8 - https://eyeonhousing.org/2024/02/the-age-of-the-u-s-housing-stock/ 9 - https://finance.yahoo.com/news/investors-bought-record-26-affordable-004444276.html 10 - https://www.yahoo.com/news/us-cities-best-quality-life-211016529.html

Rate Cut Hopes Fade with Ugly CPI Report Feb 17, 2024

Show notes

The week began with an inflation report that was anything but pretty. The Consumer Price Index came in hotter than expected for January, upsetting Wall Street and frustrating people who want the Fed to cut rates in the coming months. The report triggered a sharp stock sell-off but stocks have bounced back since then as investors and traders wondered whether they overreacted. The CPI for January came out on Monday, February 5th with a .3% increase for January. Economists had expected a .2% increase. The annual gain did come down from 3.4% to 3.1%, but economists expected it to dip below 3% to 2.9%, according to CNBC. The report doesn't show a significant increase in prices, but it does indicate that inflation continues to be sticky... ...That's it for this episode. You'll find links to these stories if you'd like to more details on the CPI report. As for the housing market, you can get my forecast by watching 2024 Housing Markets Predictions webinar that I recorded with economist Rick Sharga. That's at newsforinvestors.com under the Learn tab. If you're not yet a RealWealth member, you can also sign up for free, while you are there. And please remember to subscribe to this podcast. Thanks for listening! Kathy Fettke Links: 1 - https://www.cnbc.com/2024/02/13/cpi-inflation-january-2024-consumer-prices-rose-0point3percent-in-january-more-than-expected-as-the-annual-rate-moved-to-3point1percent.html 2 - https://www.marketwatch.com/story/feds-goolsbee-says-some-high-monthly-inflation-readings-wont-knock-his-confidence-11486ac9?mod=economy-politics 3 - https://www.mortgagenewsdaily.com/markets/mortgage-rates-02132024 4 - https://www.marketwatch.com/story/inflation-data-jolted-stocks-and-bonds-this-will-decide-what-happens-next-63df42d1?mod=economy-politics

The Real Estate News Brief: More Proof of Slower Inflation, Spring Homebuying Season Kick-Off, Best Short-Term Rental Markets Feb 13, 2024

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In this Real Estate News Brief for the week ending February 10th, 2024... why a no news report about inflation is actually good news, why some real estate agents say the spring homebuying season starts now, and where you'll find the best short-term markets for this year. You can find the links to this episode in the show notes at newsforinvestors.com. You'll also find lots of information about the business of long-term rentals at our website. You can join for free and get access to our investor portal with data on our top markets for single-family rentals. That's at newsforinvestors.com. Thank you for listening! And please remember to subscribe to this podcast, and leave a review! - Kathy Fettke Links: 1 - https://www.marketwatch.com/livecoverage/stock-market-today-s-p-500-futures-inch-higher-ahead-of-cpi-revision/card/cpi-revisions-are-no-big-deal-trajectory-of-inflation-pretty-much-the-same--DNxkuW5QUF3eqATBGwTA?mod=home-page 2 - https://www.marketwatch.com/story/the-first-big-inflation-report-of-2024-is-coming-out-heres-what-the-cpi-is-likely-to-show-7eca5707?mod=economy-politics 3 - https://www.marketwatch.com/story/initial-u-s-jobless-claims-fall-to-218-000-in-feb-3-week-from-227-000-e280a7e8?mod=home-page 4 - https://www.freddiemac.com/pmms 5 - https://www.marketwatch.com/story/mortgage-rates-barely-budge-amid-uncertainty-over-fed-rate-cuts-d036bfb0?mod=economy-politics 6 - https://www.cnn.com/2024/02/11/business/home-buying-selling-season-start/index.html 7 - https://www.businessinsider.com/housing-market-outlook-home-prices-spring-buying-season-mortgage-rates-2024-2 8 - https://www.nar.realtor/magazine/real-estate-news/short-term-rentals-poised-for-post-pandemic-comeback

Is NY Rent Stabilization at Fault for Multi-Family Sell-Offs, New Banking Crisis? Feb 10, 2024

Show notes

Two big headlines out of New York this week have one thing in common – rent stabilization laws that are destabilizing the value of multi-families. One of those stories is about the sale of two multi-million dollar properties for less than half of the purchase price. The other story is about New York Community Bank which suffered a downgrade to "junk" because of commercial loan losses, including multi-family properties that are sinking in value.

We've heard a lot about the impact of high interest rates on loans for unprofitable office buildings. But this story highlights the negative impact of rent stabilization laws. The headline that caught my eye in The Real Deal read: "Another rent-stabilized haircut, this time with shears." The investment firm Bentall Green Oak unloaded two properties in upper Manhattan for just $31 million. That's 64% less than the purchase price of $85 million...(more)

...That's it for this episode. You can read more about this two-headed monster by following links to the articles in the show notes below. I also encourage you to sign up as a RealWealth member at newsforinvestors.com for more information on how to invest wisely in single-family homes outside of the New York area. It's free to join and can help you see where it makes more sense to be a landlord. Also, please remember to subscribe to this podcast, and leave a review! Thanks for listening! Kathy Fettke Links: 1 - https://therealdeal.com/new-york/2024/02/07/rent-stabilized-nyc-buildings-sell-at-major-discount/ 2 - https://www.cnbc.com/2024/02/07/nycb-reignites-banking-industry-commercial-real-estate-fears.html 3 - https://www.mpamag.com/us/specialty/commercial/nycb-raises-capital-for-residential-mortgage-portfolio-amid-market-turmoil/476327

Surprise! Your Real Estate Agent is a Bot! Feb 10, 2024

Show notes

Artificial intelligence is rapidly changing the way that landlords and property managers are handling rental screenings, and it's making the leasing process better for everyone. But it isn't just for rentals. Many home buyers are also getting the kind of help they need from what some are calling "robot realtors." I thought I'd talk about a few ways that AI is rapidly changing the real estate world. For rentals, an AI assistant can be the one handling all the questions and the scheduling of tours. It's taking a lot of stress out of the property manager's job. They typically converse via email, text, or chatbox, but according to Curbed, the communication is so human-like, many people don't even know it's an AI assistant. Later, when they inquire about the person they were talking to, they are surprised to find out it....(more) ...You can read more about "robot realtors" by following links in the show notes below. And more about investing in real estate by signing up for a free membership with real wealth. Just go to newsforinvestors.com. As always, I also encourage you to subscribe to this podcast if you haven't already. And when you have a moment, leave us a review. Links: 1 - https://www.globest.com/2024/01/03/ai-powered-leasing-agents-are-improving-the-renter-experience/ 2 - https://www.curbed.com/2023/09/artificial-intelligence-leasing-offices-tenants.html 3 - https://www.eliseai.com/ai-business-platform 4 - https://nypost.com/2023/09/29/ai-takes-manhattan-the-robot-realtors-of-nyc-are-here/ 5 - https://therealdeal.com/new-york/2023/09/21/the-eklund-gomes-team-launches-ai-assistant/ 6 - https://eklundgomes.com/maya

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