According to Apartment List's recent study, more than half of all renters in the U.S. are considered "cost-burdened" meaning they spend more than 30% of their income on rent, mortgage, and other housing needs. The Harvard Joint Center for Housing Studies' report on the state of the country's housing situation shows that there are 3.9 million fewer affordable homes available to...
Thomas Homes, a prominent Fort Lauderdale general contractor, is addressing the growing concern over the soaring home insurance costs in Florida. Factors such as increased weather-related risks, catastrophic events, legal environment, demand for coverage, and regulatory changes have all contributed to the rising insurance premiums. Thomas Homes is committed to working with homeowners, industry...
In Late-Q3, the avg US rent was ↑3.2% yearly to $2,047 but slowing over 19-mo. Monthly rents ↑0.2% MoM, and the annual growth rate is now < in 2019. The pandemic shows unique spikes in rent prices, with October 2022 being the only month of decline....
Mortgage application fraud declined 3.1% year-over-year in Q2 of 2023 compared to the second quarter of 2022, according to CoreLogic Mortgage Fraud Report. Though fraud risk levels have been holding steady since last year, the report found that 0.75% of all mortgage applications were estimated to contain fraud – about 1 in 134 applications, with two-to-four unit properties posing the highest risk of...
1. Be proactive: Contact your insurer before your policy lapses to avoid coverage gaps and explore solutions. 2. Raise your deductible: Higher deductibles increase your responsibility for costs during claims but reduce premiums. 3. Shop around: Explore multiple quotes from different companies through online tools, direct contact, or agents....
Housing affordability declines due to stagnant wages. Miami wages ↑~7% yearly during Q3. Yet, Miami's 11% home price rise outpaces wage growth....
The Fort Lauderdale real estate market is booming and is considered a balanced market for investment. The median home sold price in July 2023 was $515K, a slight reduction year-over-year. Homes for sale in Fort Lauderdale sell within an average of 53 days and receive, on average, two offers. The benefits of investing in this Florida beach town include a strong rental market, a stable job market, and the...
Commercial Real Estate values have ↓ ~11.3% from peak July 2020 levels, with some sectors ↓ 20%. Higher interest rates are threatening borrowers and choking off transaction volume. Analysts say current valuations rely on a thin data set and that negative news could be painting too grim of a picture of the CRE market. Analysts forecast that office property...
Wall Street is a volatile market where stocks can go from champion to bums and vice versa. Investors must take risks when determining when stocks will turn around, especially in the case of Real Estate Investment Trusts (REITs) that have been declining since 2022 due to interest rate increases. Three residential REITs that could benefit from this prolonged higher interest rate cycle are Mid-America...
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