Real Estate News: Real Estate Investing Podcast

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The Real Estate News Brief: Mortgage Rate Volatility, Request to Stop Rate Hikes, Member Shake-up at NAR Oct 13, 2023

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In this Real Estate News Brief for the week ending October 7th, 2023… what's driving mortgage rate volatility, what the housing industry wants from the Fed, and why brokers are severing ties with the National Association of Realtors. As for economic news for the last week… The Treasury yield has been on a bit of an upward trend and hit 4.80% last week. That's a 16-year high and bad news for mortgage rates because high Treasury yields translate into higher mortgage rates. But since I'm a little late getting this episode together after our jam-packed weekend, the update as of Tuesday October 10th is that Treasury yields have fallen a bit due a rush into government bonds. As reported by MarketWatch, investors were nervous about the economic impact of the Israel-Hamas war. I won't go into details, but lower Treasury yields brought mortgage rates back down a bit. The Mortgage Bankers Association listed the average 30-year fixed-rate mortgage as 7.62% on Tuesday, October 10th... ...That's it for today. You can read more about the stories in this episode by following links in the show notes at newsforinvestors.com. And please remember to subscribe to this podcast, and leave a review! If you'd like to know more about how to buy real estate for investment purposes, come to our next live event! You can also sign up for a free membership at RealWealth.com. It'll take you a minute and give you complete access to our website. That includes hundreds of webinars, information on different rental markets, sample properties, and a free session with one of our investment counselors. Thanks for listening! Kathy Fettke Links: 1 - https://www.cnbc.com/2023/10/03/us-treasury-yields-investors-weigh-economic-outlook.html 2 - https://www.marketwatch.com/story/jobless-claims-inch-up-to-207-000-but-no-sign-of-rising-u-s-layoffs-1bd95457?mod=economy-politics 3 - https://www.marketwatch.com/story/u-s-gains-strong-336-000-new-jobs-labor-market-is-still-hot-189e68c9?mod=economy-politics 4 - https://www.marketwatch.com/story/job-openings-jump-to-9-6-million-labor-market-still-strong-ea1cfcfd?mod=economic-report 5 - https://www.marketwatch.com/story/u-s-construction-spending-rises-for-the-eighth-straight-month-in-august-f0c28a9d?mod=economic-report 6 - https://www.cnbc.com/2023/10/10/housing-industry-urges-powell-and-fed-to-stop-raising-interest-rates.html 7 - https://www.redfin.com/news/redfin-is-leaving-nar/

NY Rent Control Case Hits Supreme Court Brick Wall Oct 09, 2023

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The Supreme Court has said "no" to a New York rent control case that could have influenced rent control laws across the country. Two landlord groups had hoped the high court would void a law approved in 2019 on the grounds that it contributes to an unconstitutional taking of property. The lawsuit had the backing of other real estate organizations, but the lower courts ruled that states have the right to regulate the relationship between landlords and tenants, and that's the way the law currently stands... ...That's it for today. For more information on this topic, check for links in the show notes at newsforinvestors.com. You can also sign up for a free RealWealth membership at our website to learn more about the world of real estate, and how to build a cash-flowing portfolio of rental properties. And please don't forget to subscribe to this podcast, and leave a review! Thanks for listening! Kathy Fettke Links: 1 - https://www.bisnow.com/national/news/multifamily/supreme-court-rent-control-120891 2 - https://www.nyc.gov/content/tenantprotection/pages/new-protections-for-rent-regulated-tenants

The Real Estate News Brief: Fed's Favorite Inflation Report, New High for U.S. Real Estate Values, Housing Gets Worse Oct 03, 2023

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In this Real Estate News Brief for the week ending September 30th, 2023... what the Fed's favorite inflation gauge says about August, how U.S. real estate values are setting new records, and why the typical American can't afford to buy a home in 99% of the nation. We begin with economic news from this past week that ended with a last minute scramble to avoid a government shutdown. Congress passed a stopgap funding measure with just minutes to spare. That extends the current deadline for another 45 days and gives lawmakers time to hammer out their differences... ...For many consumers, housing affordability has gotten so bad that the typical American cannot afford to buy a home in 99% of the nation. Real estate data firm ATTOM analyzed median home prices over the last year in 575 U.S. counties, and determined that homes became unaffordable when buyers had to pay more than 28% of their paycheck for the home. If you include insurance and property tax, the buyer would need to devote 35% or more to that home, and that's not something that everyone can do. That's it for today. You can read more about these stories by following links in the show notes at newsforinvestors.com. You can also sign up as a RealWealth member for free, to find out how to build wealth through real estate. Membership will give you complete access to our website, the data we have compiled for various rental real estate markets, sample properties, our investment counselors, and much more. And please remember to subscribe to this podcast, and leave a review! Thanks for listening! Kathy Fettke Links: 1 - https://www.marketwatch.com/story/embattled-speaker-mccarthy-tries-new-45-day-funding-tactic-to-avoid-government-shutdown-be5b0e30?mod=home-page 2 - https://www.marketwatch.com/story/inflation-speeds-up-due-to-higher-gas-prices-pce-finds-but-theres-good-news-too-4370a0a6?mod=economy-politics 3 - https://www.calculatedriskblog.com/2023/09/pce-measure-of-shelter-slows-to-74-yoy.html 4 - https://www.marketwatch.com/story/u-s-home-prices-rose-in-july-case-shiller-says-ab106b17?mod=economic-report 5 - https://www.marketwatch.com/story/u-s-new-home-sales-fall-8-7-in-august-amid-high-mortgage-rates-aaf43173?mod=economic-report 6 - https://www.marketwatch.com/story/contract-signings-for-u-s-homes-dropped-sharply-in-august-amid-high-rates-and-sparse-listings-8351c1b8?mod=economic-report 7 - https://www.freddiemac.com/pmms 8 - https://www.nbcnews.com/business/consumer/baby-boomers-cash-are-driving-housing-market-right-now-rcna92905 9 - https://www.zillow.com/research/total-market-value-2023-33031/ 10 - https://www.cbsnews.com/news/homes-for-sale-affordable-housing-prices/

Fraud Ruling Against Trump in New York Sep 30, 2023

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It was one year ago that New York Attorney General Letitia James filed a $250 million lawsuit against former president Donald Trump, accusing him of fraudulent business practices. Just this week, a New York judge has ruled that Trump is guilty of fraud in the building of his massive real estate empire. The judge claims that the he inflated the value of his assets and his own net worth as he negotiated real estate deals and asked for bank loans. The case will still be heard in court, but if this ruling sticks, it could have major implications for Trump's financial world and a huge lesson for any investor who might consider adding a few zeros onto an asset valuation. Judge Arthur Engoron issued the ruling on Tuesday, September 26th. It comes in conjunction with a lawsuit against Trump by New York Attorney General Letitia James. The lawsuit claims that Trump and several of his family members committed "numerous acts of fraud and misrepresentation" and that Trump "inflated his net worth by billions of dollars." $2.2 billion to be exact. The lawsuit also named Donald Jr., Ivanka, and Eric as defendants. James said: "Mr. Trump and the Trump Organization repeatedly and persistently manipulated the value of assets to induce banks to lend money to the Trump Organization on more favorable terms than would otherwise have been available to the company, to pay lower taxes, to satisfy continuing loan agreements, and to induce insurance companies to provide insurance coverage for higher limits and at lower premiums." In one instance, they falsely inflated the total square footage of a commercial building by 300 percent, the ruling concluded... ...Engoron has directed Trump to begin the process of dissolving the companies held in his name. Meanwhile, an appeals court rejected Trump's bid to delay the civil trial, allowing the case to proceed. This decision, by the state's intermediate appellate court, clears the way for Engoron to preside over a non-jury trial starting Monday in Manhattan. James alleges Trump boosted his net worth by as much as $3.6 billion. Battling lawsuits is not new to the former president. In 2017, Trump agreed to pay $25 million to settle fraud allegations linked to "Trump University." In 2019, he agreed to pay $2 million to settle charges that he used charitable funds to pay for his political operations. and last December, Trump's company was found guilty of 17 counts of criminal fraud for falsifying business records. This legal battle is not over. However, according to NPR, Trump could be forced to liquidate assets. Experts told NPR the legal threat to Trump now comes as follows:

First, Trump's entire New York business operation, now deemed fraudulent, could be turned over to a receiver who would effectively take control of the firms and liquidate them at a public auction.
Second, Trump and other defendants could be required to pay a $250 million fine which may require selling assets.
Third, Trump and his associates including Donald Trump Jr. and Eric Trump, could be permanently banned from doing business in New York state, where many of the family's most significant assets are located.

That's it for today. You can listen to past episodes and check for links to our sources for these stories at newsforinvestors.com. You can also sign up for a free RealWealth membership while you are there to learn more about how and where to invest in real estate, without making false claims! And please remember to subscribe to this podcast, and leave a review! Links: 1 - https://www.foxnews.com/politics/new-york-judge-rules-trump-judge-rules-trump-committed-fraud-while-building-real-estate-empire 2 - https://www.foxnews.com/politics/new-york-ag-sues-trump-fraud-allegations 3 - https://www.theguardian.com/us-news/2023/sep/27/trump-new-york-real-estate-reaction-fraud 4 - https://www.theguardian.com/us-news/2023/sep/26/donald-trump-new-york-financial-fraud-key-takeaways

The Real Estate News Brief: The Fed's Crystal Ball, Climate-Friendly Remote Work, NAR Controversy Sep 27, 2023

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In this Real Estate News Brief for the week ending September 23rd, 2023... the Fed's forecast on inflation, future rate hikes and the GDP, why remote work is good for the environment, and calls for a major shake-up at NAR. We begin with economic news from this past week and a message from Fed Chief Jerome Powell. He announced the result of the committee's September meeting, saying there would be no rate hike at this time, but a majority of Fed officials expect the need for one more quarter-point hike this year. The range is currently 5.25% to 5.5%. 12 Fed officials foresee another hike while seven don't see them going any higher. Only "one" Fed official expects the need to raise rates above 6% next year... ...That's it for today. You can read more about the stories in this episode by following links in the show notes at newsforinvestors.com. And please remember to subscribe to this podcast, and leave a review! If you'd like to know more about creating a financial safety net with real estate, please sign up for a free RealWealth membership. It'll take just a minute to sign up and will give you complete access to our website. Thanks for listening! Kathy Fettke Links: 1 - https://www.marketwatch.com/story/fed-skips-september-rate-hike-doesnt-rule-out-november-rise-38887479?mod=federal-reserve 2 - https://www.cnbc.com/2023/09/20/fed-signals-it-will-raise-rates-one-more-time-this-year-before-it-ends-hiking-campaign.html 3 - https://www.marketwatch.com/story/jobless-claims-fall-to-8-month-low-of-201-000-c593f45f?mod=economy-politics 4 - https://www.marketwatch.com/story/home-sales-fall-in-august-to-the-lowest-level-in-nine-months-ede3e35f?mod=economic-report 5 - https://www.marketwatch.com/story/u-s-housing-starts-drops-to-lowest-level-since-june-2020-daac45 6 - https://www.marketwatch.com/story/builder-confidence-index-falls-to-five-month-low-amid-high-mortgage-rates-6d3a2572?mod=economy-politics 7 - https://www.freddiemac.com/pmms 8 - https://gizmodo.com/working-remotely-could-cut-worker-emissions-in-half-1850853923 9 - https://therealdeal.com/national/2023/09/19/nar-staffers-call-for-leadership-overhaul-amid-controversy/

The BTR Boom Shows No Signs of Slowing! Sep 22, 2023

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The market for existing homes is so tight that even the big landlords are having a tough time finding them, but the new rental real estate playbook is all about build-to-rent homes. It's no secret that renters want the single-family lifestyle, and builders are pumping tens of thousands of new rental homes into the market, with the biggest BTR boom in the South from Texas to Florida. According to stats from RealPage, more than 104-thousand BTR units are under construction across the nation right now. As of September of this year, more than 61,200 of them are in the Southeast section of the US , about 28-thousand five-hundred are in the Western half of the US, almost 13-thousand are in the Central states, and close to 17-hundred are in the Northeast. The RealPage definition of single-family includes fully detached, semi-detached, row homes, duplexes, quadruplexes, and townhomes... At RealWealth, we recently launched a new build-to-rent fund for investors over the Texas border in Oklahoma. It's a pre-boom area that has all the right features for a desirable and growing residential location. It's near main highways, close to large employers, and is just 12 miles from Gainesville, Texas. That's in an area north of Dallas which has been expanding rapidly as a major technology hub. We've already started purchasing new fourplexes with built-in equity for the fund, and we've contracted with a builder for a total of 10 fourplexes over the next two years. My fund partner, Leah, was born and raised in the area, and has witnessed the growth patterns in vast undeveloped areas that are now bustling cities. She is currently focused on Thackerville near the Oklahoma-Texas border because it's in desperate need of housing and so close to booming job growth. At the time of the interview she said there was only one rental on the market and just 11 homes for sale. If you'd like to check on all the build-to-rent stats mentioned in this podcast, check for links in the show notes at newsforinvestors.com. You can find out more about our rental fund at growdevelopments.com. My partner Leah also provided a lot of information about why she thinks this area is ready to blast off on a recent Real Wealth Show with the title: "The Nearby Texas Market that's Poised to Blast Off!" RealWealth can help you create a financial safety net with real estate. It's free to join and gain complete access to all our data and resources. And please remember to subscribe to this podcast and leave a review! That's it for today! Thanks for listening. Kathy Fettke Links: 1 - https://www.realpage.com/analytics/btr-by-region/ 2 - https://squaremile.com/property/development-resident-experience-investor-returns/ 3 - https://growdevelopments.com/

The Real Estate News Brief: August Reports on Inflation, Single/Multi-Family Rent Growth, $5.8 Million Fine for 2 Background Check Companies Sep 19, 2023

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In this Real Estate News Brief for the week ending September 16th, 2023... two more reports on inflation just ahead of this week's Fed meeting, single-family versus multi-family rent growth, and why two background check companies were fined $5.8 million. We begin with economic news from this past week and another round of inflation reports for the month of August. The Consumer Price Index showed an increase in overall inflation but a drop in the core rate which eliminates pricing for energy and food. The overall CPI rose an unexpected .6%, mostly due to a surge in energy prices. That brought the yearly rate up from 3.2% to 3.7%. But when you strip the numbers down to the core rate, inflation was only up .2% and that small increase lowered the annual core rate from 4.7% to 4.3%... ...That's it for today. You can read more about the stories in this episode by following links in the show notes at newsforinvestors.com. And please remember to subscribe to this podcast, and leave a review! If you'd like to know more about how to buy rental real estate, make sure you are a RealWealth member. It's free to join and will give you access to all our data on various rental markets along with hundreds of webinars, our experienced investment counselors, more than a dozen property teams, and lots of great ideas about how to get from point A to B in your wealth-building journey! Thanks for listening! Kathy Fettke Links: Kathy's Instagram: https://www.instagram.com/kathyfettke/ Kathy's audiobook on Audible: https://tinyurl.com/retirerichaudible 1 - https://www.marketwatch.com/story/cpi-shows-biggest-increase-in-inflation-in-14-months-efec35e1?mod=economy-politics 2 - https://www.cnbc.com/2023/09/14/ppi-inflation-report-august-2023-.html 3 - https://www.marketwatch.com/story/when-will-inflation-cool-to-the-feds-2-target-by-late-next-year-says-jp-morgan-strategist-bd6f1c25?mod=mw_quote_news 4 - https://www.marketwatch.com/story/u-s-4-week-average-of-jobless-claims-drops-to-lowest-level-in-seven-months-672e01a9?mod=economic-report 5 - https://www.freddiemac.com/pmms 6 - https://www.apartmentlist.com/research/rents-are-falling-slower-in-the-suburbs 7 - https://www.corelogic.com/intelligence/annual-rent-growth-slows-again-june/ 8 - https://www.ftc.gov/news-events/news/press-releases/2023/09/ftc-says-truthfinder-instant-checkmate-deceived-users-about-background-report-accuracy-violated-fcra? 9 - https://www.nar.realtor/magazine/real-estate-news/commercial/new-tool-helps-hosts-calculate-short-term-rental-profit

Australian Real Estate Tycoon Calls for Economic Pain to "Kill" Employee Arrogance Sep 15, 2023

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The Australian real estate tycoon who became notorious for his comments about millennials wasting money on avocado toast, is making new waves with comments about employee attitudes. Tim Gurner spoke out at an Australian Financial Review conference and told his peers that they have to "kill" this feeling of superiority among employees and to do that, employees, and the economy in general, would need to feel some pain.... ...You'll find a link to the Fortune article in the show notes at newsforinvestors.com. And please remember to subscribe to this podcast, and leave a review! If you'd like to learn more about how to become your own boss through real estate investing, be sure to check out the RealWealth website, and sign up for free. Members will get complete access to all our information, resources, and experienced investment counselors, with no cost, and no obligation to buy anything. Links: 1 - https://fortune.com/2023/09/13/australia-real-estate-ceo-tim-gurner-pain-in-economy-avocado-toast/

Another Class-Action Rent-Fixing Lawsuit! Sep 13, 2023

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More big landlords and property managers are getting hauled into court over alleged rent-fixing. I recently reported on a lawsuit against RealPage and institutional landlords who use the company's YieldStar rent-setting platform. Now there are similar allegations against Yardi Systems and 18 property management companies.

Seattle-based law firm Hagens Berman filed the lawsuit accusing Yardi and the property management firms of a scheme to fix apartment rents nationwide. The attorneys say that the companies used Yardi's RENTmaximizer tool to automatically raise rents so they wouldn't compete with each other. That eliminated the need for discounts and other move-in deals to entice tenants...

...You can read more about the Yardi lawsuit by following a link in the show notes at newsforinvestors.com. And please remember to subscribe to this podcast, and leave a review! You can find out more about the business of single-family rentals at RealWealth.com. Sign up for free and enjoy a wealth of information about how to find and manage rentals, without breaking any laws! That's it for today! Thanks for listening. Kathy Fettke Links: https://www.bisnow.com/national/news/multifamily/yardi-18-real-estate-firms-accused-of-rent-fixing-in-class-action-lawsuit-120603

The Real Estate News Brief: Mortgage Rate "Magic Number", Millennial Homeownership, 1% Down Payment Program Sep 12, 2023

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In this Real Estate News Brief for the week ending September 9th, 2023... we'll tell you the mortgage rate buyers are waiting for, the homebuying expectations for millennials, and a new super low 1% down payment program. Economic News We begin with economic news from this past week, and comments from three Federal Reserve Bank Presidents about the possibility of more rate hikes. New York's Bank President, John Wiliams, spoke at a conference and said that monetary policy is in a good place right now with the desired effects. But, he says: "Going forward, we will have to keep watching the data… and asking ourselves the question 'is this sufficiently restrictive, do we need to maybe raise rates again?" He also says that worries about a recession have essentially vanished, although he expects the unemployment rate to hit 4% in the coming months. It's currently at 3.8%.... ...That's it for today. You can read more about the stories in this episode by following links in the show notes at newsforinvestors.com. And please remember to subscribe to this podcast, and leave a review! If you'd like to know more about how to buy real estate for investment purposes, sign up for a free membership at RealWealth.com. It'll take just a minute to sign up and will give you complete access to our website. That includes hundreds of webinars, data on different rental markets, a curated list of real estate professionals and property teams, and access to our own experienced investment counselors. Thanks for listening! Kathy Fettke Links: 1 - https://www.marketwatch.com/story/feds-williams-says-monetary-policy-is-in-a-good-place-recession-talk-has-vanished-270384ec 2 - https://www.marketwatch.com/amp/story/chicago-feds-goolsbee-suggests-central-bank-is-almost-done-raising-rates-bd88492e 3 - https://www.marketwatch.com/story/feds-logan-says-skipping-rate-hike-in-september-does-not-imply-stopping-61a077c 4 - https://www.marketwatch.com/story/u-s-jobless-claims-fall-to-216-000-lowest-level-since-february-bfe4111f?mod=mw_latestnews 5 - https://www.freddiemac.com/pmms 6 - https://www.cnbc.com/2023/09/05/mortgage-rate-tipping-point-homeowners-say-5percent-is-the-magic-number.html 7 - https://www.redfin.com/news/gen-z-millennial-affordability-barrier-to-homeownership/ 8 - https://www.cnn.com/2023/08/25/homes/zillow-low-down-payment-loan/index.html

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