Here at RealtyMogul.com, we keep our finger on the pulse of all things real estate, from finance to technology and everything in between. We make a point of sharing interesting articles and think pieces among RealtyMogul.com staff to help our team stay abreast of the market, and ahead of the curve.
So we thought, why not share some of these insights with you, our partners?
Got A Minute? Here’s some recommended reading with key points from the content:
2016’s Best & Worst Cities for Renters (WalletHub)
- New survey by Wallethub that factors in 15 metrics considering rental market affordability and quality of life:
- Oddly, 6 Arizona cities are ranked in the top 10 (Scottsdale, Chandler, Tempe, Gilbert, Peoria, and Phoenix).
- As you would expect LA, several other CA cities, New York, and Oakland rank among the worst cities for renters (given the weight of affordability in the survey).
- The full list is included in the link as well as a detailed methodology for the rankings. A map showing the cities on the list is below, cities in blue are the most affordable while cities in orange are the least:
Low End Units See Faster Rent Growth (Globe St)
- The author focuses in on the growing disparity between annual rent growth in higher end product and lower end product. Higher end product is seeing a large slowdown as construction levels are extremely elevated and lower end product is seeing double digit annual growth in most markets. Sacramento was cited as one example as rents on the lower end rose 33% over the past year while overall rents rose just 7% over the same period.
- “There’s a growing divide in the rental market right now. Very high demand at the low end of the market is being met with more supply at the high end, an imbalance that will only contribute to growing affordability concerns for all renters. We’re simply not building enough at the bottom and middle of the rental market to keep up with demand.” – Svenja Gudell, Chief Economist at Zillow
Amazon to Add Massive Florida Fulfillment Hub (Commercial Property Executive)
- Amazon is adding an 855,000 SF fulfillment center in Jacksonville which is expected to add 1,500 full-time jobs to the area.
Yardi Matrix: The (Inland) Empire Strikes Back (Multi-Housing News)
- A profile on the Inland Empire with some surprising multifamily fundamentals driven in large part by the thriving industrial market:
- 7.7% annual rent growth as of May and 97% occupancy – both among the best in the nation.
- Rent growth appreciation of roughly 6.8% projected for the rest of 2016 as supply for new product remains limited.
- The market gained more than 45,000 jobs for the year ending March 2016, the 3.4% growth rate far surpasses the national rate of 2.3%.
- One of the fastest growing MSA’s with a population of nearly 4.5 million and population growth of 4.7% between 2010-2014.
Tim evaluates investment opportunities as well as performs due diligence and writes content for various equity and debt transactions. Outside of the office, Tim is an avid sneaker collector, a passionate health and fitness advocate, and a dedicated podcast enthusiast.