Welcome back to Ten Days of Buzz! Let’s get right down to it.
“A demographic boom among young adults, who are traditionally the target audience for rental properties, as well as continued immigration from abroad are further supporting the rental market over home ownership.”
Dan Caplinger, Financial Planner. Where to Make Money in Housing, The Motley Fool, 3/21/2012.
“There seems to be a lot of demand for single-family homes and rental condominiums with rents of maybe $2,000 or more. We don’t seem to have enough of those properties to offer.”
Jay Young, co-owner of Seattle-based Real Property Associates. Is now the time to become a landlord? Seattle PI, 3/22/2012.
“Managers are getting more bullish about increasing rents. This is clearly the year to do it. Our survey found managers plan to increase rents 2.6% in the next six months. That’s the biggest increase they have planned since 2008.”
Dupre + Scott, Apartment Advisors. Apartment vacancies hit five-year low, Seattle PI, 3/26/2012.
“The population has continued to grow (it’s around 310 million now, maybe a little more), but home sales have been stuck at levels we last saw 10 years ago, despite the country having more people.”
Robert Freedman, Economist. Conditions Suggest Sustained Market Improvements, National Association of Realtors, 3/27/2012.
“The dynamics of falling rental vacancy rates mean increased owner pricing power. Naturally as a consequence rents have been pushed higher… Rising rents mean an improved rate of return for property investors.”
Lawrence Yun, NAR chief economist. Real Estate Investing: How To Make Money In A Down Market, NuWire, 3/29/2012.
That’s all for this week. See you next time!