US Job – Payroll Growth Trailed Forecasts Ahead of Shutdown

October 26, 2013

The 148,000 increase followed a revised 193,000 gain in August that was larger than initially estimated, Labor Department figures showed today in Washington. The unemployment rate fell to 7.2 percent, the lowest level since November 2008.

Stocks and Treasuries climbed as the report supported expectations that the Federal Reserve won’t hurry to reduce monthly bond purchases aimed at spurring growth and employment. Progress in the labor market depends on how quickly the economy can bounce back from the loss of business and confidence caused by the budget battles in Washington.

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US – Single-Family Rental Market Trying to Prove It’s Sustainable

October 25, 2013

The recent initial public offering by real estate investment trust American Homes 4 Rent, which captured $706 million, raises more questions than answers about the long-term viability of the single-family rental home market.

Even the Federal Housing Finance Agency—whose Real Estate Owned Pilot Initiative, launched two years ago, has transferred 1,763 REO properties to new owners—seems ambivalent about future demand. 

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US Apartment – Competition to Attract and Retain Tenants

October 25, 2013

Duncan was one of about 100 multifamily finance professionals who responded to Apartment Finance Today’s annual CFO Survey.

“I think we’re keeping our eye on certain markets as the supply really starts to deliver into the market during the second half of this year and how that will impact our traction to raise rents,” he said.

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US – NAHB Offers Reasons for Optimism About Housing’s Full Recovery

June 27, 2013

The nation’s growth “is finally being driven by housing again,” proclaimed David Crowe, NAHB’s chief economist, during the association’s Construction Forecast Webinar. Home prices have been rising, partly the result of tightening inventory of completed new homes, which in turn is stimulating demand. Employment—a major factor in home-buying decisions—continues to strengthen, albeit incrementally. And housing’s recovery is now national in scope.

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Best US Markets to Flip Residential Homes

June 27, 2013

Flipping  homes — buying, rehabbing and reselling for a profit usually within about 90  days — will likely become more favorable for investors in 2013 as home prices  are expected to continue climbing. And while buying  homes as rentals still offers a solid rate of return in many markets, even  buy-and-hold investors typically flip properties periodically to fund their ongoing  rental purchases.

top 25 markets for flipping homes

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US – March 2013 Multifamily Permit Stats

April 16, 2013

For the U.S., March 2013 Multifamily Permitting Approaching Long Term Average  

The U.S. Census Bureau posted its March national residential permitting numbers on April 16. Privately-owned housing units authorized by building permit in March, measured on a seasonally adjusted annual rate (SAAR), were 902,000. This was a decrease of 3.9% from the revised February rate of 939,000, but was 17.3% above the March 2012 estimate of 769,000.

During March 2013, annual multifamily (MF) permits increased by 24.7% at the national level from the comparable period a year ago. With the March 2013 MF permit number at 283,000 units, annual MF permitting has now been above 200,000 for 17 consecutive months. The anticipation of moderating but still healthy apartment market fundamentals over the next two years and stable long-term demographics and economic outlook is stimulating developers and investors to start new projects. Even with the first waves of permits during this upward cycle being turned into completions this year, completions will still remain slightly below the long-term historical average for the U.S. and most metropolitan statistical areas (MSAs). By 2014, most MSAs will see their inventory growth pass the historical average. However, there are some MSAs like Charleston; Raleigh; Washington, DC; Baltimore; Austin; Nashville; Philadelphia; and Seattle, where new supply will outpace the historical average rate this year.   (March 2013 permitting numbers by metropolitan area will be released on April 24, 2013.)

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US – Home Price Up in 90 Percent of U.S. Cities

April 16, 2013

A dwindling supply of lower-priced homes and foreclosures continued to fuel the upward trend in home prices, an industry report showed Monday, with property values posting the strongest year-over-year increase in seven years. 

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