Your Daily Digest for Real Estate Investing, 7/23/21
The congressional body wants some big landlords to say it’s time to consider hike in apartment rents, sell off existing property sales quickly, the boom in industrial RE in Specs, three low risk REITs.
Today in the apartment building news
Congressional committee targets 4 major landlords for pandemic evictions
A House panel is urging four corporate landlords to explain why 5,000 renters were allegedly evicted during the pandemic while a state eviction moratorium was in place, the Washington Post reports [subscription required].
The Millionacres Takeaway: Pretium Partners, Ventron Management, the Siegel Group, and Invitation Homes, a major residential REIT or real estate investment trust, have been subpoenaed to provide records of 5,000 evictions that occurred during the CDC restrictions. The congressional panel accuses some companies of not accepting rental support funds and some of accepting the bailout and evicting it anyway. Stay tuned.
Tenants Are Wealthier Than Ever: Should You Increase Your Rents?
It might be time to reassess your rents – at least for your apartment buildings. Today’s apartment hunters have some cash to spare, according to a new report from Apartment List. In fact, the median income is around 5% higher than it was before the pandemic.
The Millionacres Takeaway: Pandemic conditions have resulted in a wealthier generation of renters, and for the right landlord, it may mean a rent hike is on the horizon. Our Aly Yale looks at these conditions.
Inventory Sale Snap 4 Month Decline Streak
Existing home sales rose in June, seeing four consecutive months of declines according to the National Association of Realtors (NAR), and sales nationwide are up double-digit year-over-year at this point.
The Millionacres Takeaway: The NAR says more home starts and homeowners selling to a hot market contributed to the 1.4% increase in June versus May and expect slower price increases for the remainder of the year.
Today in the industrial real estate news
3 REITs to buy for low-risk investors
“Safety first” is a mantra that conservative investors should be repeating over and over right now as the market hovers around all-time highs. But if you have money to do and can’t stand holding cash, what should you do?
The Millionacres Takeaway: Our Reuben Gregg Brewer includes one of the world’s largest industrial REITs – Prologis (NYSE: PLD) – as one of three answers to the above question.
Rapidly growing demand for industrial space is driving the boom in spec builds
The increasing demand for industrial space is leading to a boom in speculative construction in the industry by investors and developers on a broad front, reports WealthManagement.com.
The millionacres to take away: Large logistics customers such as Amazon, FedEx and UPS are among those whose space requirements are building new industrial areas at record levels. Individual investors looking to get exposure can consider industrial REITs.
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