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Newsfeed: U.S. existing home sales surge in January; inventory at record low

Newsfeed: U.S. existing home sales surge in January; inventory at record low

U.S. home sales unexpectedly rose in January, but investors paying in cash are squeezing out first-time buyers amid record low inventory and higher prices. Existing home sales rebounded 6.7% to a seasonally adjusted annual rate of 6.50 million units last month, the National Association of Realtors said on Friday. Sales rose in all four regions. Economists polled by Reuters had forecast sales decreasing 1.0% to a rate of 6.10 million units.

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Newsfeed: NAR Warns Rising Mortgage Rates “Will Be Problematic” As US Existing Home Sales Unexpectedly Soar In Jan

Newsfeed: NAR Warns Rising Mortgage Rates “Will Be Problematic” As US Existing Home Sales Unexpectedly Soar In Jan

After December’s unexpected tumble, analysts expected existing home sales to continue to slow (-1.3% MoM) in January as mortgage rates rose, omicron hit, and homebuilder sentiment began to slow (catching down to homebuyer’s record low confidence). However, despite the soaring rates and slumping confidence, NAR expects us to eblieve that sales exploded 6.7% higher MoM (a massive beat, even more so given that December was revised slightly better)…

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Newsfeed: America’s Largest Landlord Just Got Even Bigger: Blackstone Buys 12,000 Sunbelt Apartments For .8 Billion

Newsfeed: America’s Largest Landlord Just Got Even Bigger: Blackstone Buys 12,000 Sunbelt Apartments For $5.8 Billion

Wall Street won’t rest until it become the biggest – and perhaps only – landlord in the US. On Wednesday, Blackstone cemented its position as America’s largest residential and commercial landlord by buying apartment owner Preferred Apartment Communities in a deal valued at $5.8 billion, demonstrating the unstoppable investor demand for multifamily – i.e., rental – properties in Sunbelt states.

Newsfeed: America’s Largest Landlord Just Got Even Bigger: Blackstone Buys 12,000 Sunbelt Apartments For $5.8 Billion Read More »

Newsfeed: U.S Mortgage Rates Surge After a Steady 3-Weeks

Newsfeed: U.S Mortgage Rates Surge After a Steady 3-Weeks

Mortgage rates were on the move in the 2nd week of February, after barely shifting for 3 consecutive weeks. In the week ending 10th February, 30-year fixed rates jumped by 14 basis points to 3.69%. 30-year fixed rates had remained unchanged at 3.55% in the week prior. As a result, 30-year fixed rates held above the 3% mark for a 13th consecutive week.

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Newsfeed: On-Time Rent Payments Sag amid Massive Spike in Rents

Newsfeed: On-Time Rent Payments Sag amid Massive Spike in Rents

How have on-time rent collections been doing in this era of spiking rents? Across the 100 largest markets in the US, in multifamily buildings the median asking rent for one-bedroom apartments jumped by 12% year-over-year. The median asking rent for two-bedroom rents jumped by 14%. In 34 cities, asking rents spiked by 15% to 28% year-over-year.

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Newsfeed: Inflation surges 7.5% on an annual basis, even more than expected and highest since 1982

Newsfeed: Inflation surges 7.5% on an annual basis, even more than expected and highest since 1982

Consumer prices surged more than expected over the past 12 months, indicating a worsening outlook for inflation and cementing the likelihood of substantial interest rate hikes this year. The consumer price index for January, which measures the costs of dozens of everyday consumer goods, rose 7.5% compared with a year ago, the Labor Department reported Thursday.

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Podcast: The Road Ahead – Apartments and Syndication with Brad Sumrok & Mauricio Rauld

Podcast: The Road Ahead – Apartments and Syndication with Brad Sumrok & Mauricio Rauld

 What’s in the cards for apartment investing? How can an investor become accredited without meeting the financial requirements? What are the latest updates from the SEC? Today, we’re shifting our focus back to main street to discuss apartments, syndication, and legal changes coming down the line … Tune in to this elite episode as

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