Ten Days of Buzz: February 9-19, 2013

Ten Days of Buzz

“In this market, at this point, it’s a sweet spot. You’re getting the market where it’s just starting to rebound, but still at the bottom, with what’s looking to be a great recovery.”

Chris Princis of Brook-Hollow Financial. Got cash, good credit? Experts say owning rental housing can pay off even as market recovers, FoxNews.com, 2/9/13.

“Hughes, 79, has purchased about 10,000 properties through his American Homes 4 Rent, making the Malibu, California-based firm the second-biggest owner of single-family rentals after Stephen Schwarzman’s Blackstone Group LP.”

Heather Perlberg of Bloomberg News. Billionaire Hughes Chasing Blackstone as U.S. Rental King, Businessweek.com, 2/12/13.

“The number of empty rental units shrunk greatly in the last two years according to the Census Bureau’s quarterly Housing Vacancy Survey. Peaking at just over 11 percent, the current measure stands at 8.7 percent as of the end of 2012, comparable to levels seen in early 2002.”

Robert Dietz, NAHB Economist. Multifamily Housing Growth Poised to Continue in 2013, USNews.com, 2/13/13.

“…The apartment markets with the highest rental rate growth and occupancy also are the areas that have generated above-average employment growth. Northern California’s Bay Area is a perfect example—it consistently shows up as one of the most desirable for apartment acquisitions.”

Jennifer Popovec, of the National Real Estate Investor. Five Signs for Apartment Market Growth, NuWireInvestor.com, 2/14/13.

“The Seattle/Puget Sound Industrial market ended the fourth quarter 2012 with a vacancy rate of 6.0%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 501,866 square feet in the fourth quarter.”

Justin Sumner of the Costar Group. Market Trend: Seattle / Puget Sound’s Industrial Vacancy Decreases to 6.0%, Costar.com, 2/15/13.

“It appears these investors have driven home prices higher within some pricing points of their target cities.  Overall, large scale REO-to-Rental investors are helping accelerate the housing recovery.” 

Timothy Cunneen of Smith Breeden Associates. Large institutional investors emerge in REO-to-rental market, Housingwire.com, 2/17/13.

“The next Mayor will be on the hook for whether problems are mitigated, solved or avoided, as well as whether the new infrastructure delivers less congestion, better commutes, greener outcomes, and better livability — as promised.”

Knute Berger of Mossback. The Next Seattle Mayor Needs to be a Puzzlemaster, Crosscut.com, 2/18/13.

“Ten years ago, our retirement plan consisted of a pension, stocks, and a 401k. Owning a rental means that we’ve added yet another type of investment to our portfolio which will generate income in our retirement.”

C. Jeanne Heida, Landlord and Yahoo! Contributor. First Person: The Benefits of Owning Rental Property, Yahoo Finance, 2/19/13.

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