Norris Bruce
Jun 18, 2019

Just To Make Sure They Don’t Come Back!

Today’s News Synopsis:

Millennials living with parents need to save $10,000.  You want to live in a house like in Friends, Stranger Things, or Simpsons?  Well, thanks to Ikea, now you can.  Housing starts decreased by 0.9% in May to 1.27 million.

In The News:

NAHB – “Housing Starts Relatively Flat Off of Strength in Multifamily Sector” (6-18-2019)

“Total housing starts declined 0.9 percent in May to a seasonally adjusted annual rate of 1.27 million units from an upwardly revised reading in April, according to a report from the U.S. Housing and Urban Development and Commerce Department.”

MarketWatch “Millennials who live with mom and dad will need $10,000 to move out” (6-18-2019)

“There’s a hefty price tag on breaking domestic ties with your parents.”

Forbes “Designed To Share: Airbnb-Backed Developer Is Building Condos Made For Home Sharing” (6-18-2019)

“Miami-based real estate developer Newgard Development Group announced Tuesday that it will open condominium towers purpose-built for home sharing.”

CNBC “New federal tax rules create advantage for real estate investment trusts” (6-18-2019)

“As Generation X and millennials inherit their baby boomer parents’ assets amid the so-called Great Wealth Transfer, some will look to invest it in rental property to generate income.”

Inman “Ikea rebuilds rooms from Friends, Simpsons and Stranger Things” (6-18-2019)

“The United Arab Emirates-based campaign features a checklist of what customers need to recreate these rooms.”

CoreLogic “CoreLogic Reports Steady Single-Family Rent Growth Amid Cooling Housing Market” (6-18-2019)

“CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and among 20 metropolitan areas. Data collected for April 2019 shows a national rent increase of 3%, compared to 2.8% in April 2018.”

Bloomberg “Google Pledges $1 Billion to Tackle Bay Area Housing Crisis” (6-17-2019)

“Google pledged $1 billion over the next 10 years to try to address an affordable housing crisis California’s Bay Area.”

U.S. News “Do You Have What It Takes to Buy a Fixer-Upper?” (6-18-2019)

“A couple currently on the market to buy a home are looking at two different types of properties: turnkey condos, in which the home is basically move-in ready, and then what these clients affectionately refer to as “Great Grandma’s place” – or homes that have not been touched in decades and need a gut renovation.”

 

California Real Estate Investor Events

Bruce and Aaron Norris will be speaking at the NSDREI 15th Anniversary Dinner Party TONIGHT.

Aaron Norris will be presenting Innovative Real Estate Marketing with LA South REIA on Monday, July 8.

Aaron Norris will be presenting Innovative Real Estate Marketing with LA South REIA on Wednesday, July 10.

 

Looking Back:

Were tech and new homebuying habits going to end the MLS?  Realtor.com’s latest list showed the top 10 cities where people lived the longest.  With the increased risk of flooded properties and underwater mortgages on the coast, there was danger of seeing almost $1 trillion of real estate at risk by 2100.

 

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