Group Launches $100 Million Home Rehab

An innovative non-profit group has launched an aggressive $100 million campaign to rehabilitate thousands of homes left to decay in blighted urban neighborhoods as a result of the U.S. foreclosure crisis. The organization has qualified for financing to repair vacant homes from bankers to help damaged neighborhoods. The group’s chief executive says a new initiative launched by Builders of Hope, based in Raleigh, North Carolina will help … [Read more...]

Renters Face Severe Affordability Shortage

By Mike Colpitts Homeowners forced to rent homes and apartments as a result of foreclosures are finding the lowest affordability of rental housing in decades as rental rates in the majority of U.S. cities climb, according to a national housing advocacy group. An estimated 70% of low income tenants are finding housing unaffordable in the current economy. “There are millions of families in the United States whose incomes are so low and whose … [Read more...]

Real Estate Investment May Turn Stable

By Mike Colpitts Real estate investments have taken a financial beating the past five years, but could evolve into a more stable investment, despite poor macroeconomic conditions in the U.S., according to a private real estate investment equity firm. Investors with access to large amounts of cash, who are able to avoid debt, are likely to position themselves to benefit from what could be a major shift in portfolio investment allocations … [Read more...]

Almost 1 in 3 Adults Live With Relatives

By Mike Colpitts A sinking economy and declining home prices are eliminating urgency for most homeowners and renters to buy homes, despite record low the mortgage rates, according to a new study. But doubling up or living with adult children, relatives or parents has increased more than since the days of the Great Depression. Nearly one in three or 30% of respondents to the Hanley Wood housing survey taken by more than 3,000  U.S. … [Read more...]

Renters Ripoff Landlords in $6 Million Mortgage Scam

By Mike Colpitts In a rare turnaround of sorts, seven people have been arrested for allegedly posing as homeowners of the homes they were renting and applying to take out nearly $6-million in home equity mortgages. The seven were arrested in Southern California by sheriff’s investigators after a major investigation, including the FBI led to their arrests. The renters allegedly stole the homeowners’ identities to pose as the owners of more … [Read more...]

Rent Prices Jump on Housing

By Mike Colpitts Rental rates for homes and apartments are rising and it appears rent prices are accelerating, according to a survey by an online real estate search firm. The report, issued by HotPads.com reveals that rental listing prices have increased an average of nearly 7% in the last year. Listings on studio and 5-bedroom apartments made the highest jump in rental prices. Price increases were 14.3% higher on studios on average and … [Read more...]

Investor Purchases Rack Up

By Mike Colpitts Investors shopping for a deal are purchasing more than one-in-five residential properties in the U.S. and make up the second largest share of home purchasers right behind first time buyers. The rise in investor purchases has been developing over the last year as home values and the prices on all sorts of other real estate in most areas of the country decline. Investor purchases are a good sign for the housing market, … [Read more...]

New Normal Favors Renting

By Mike Colpitts The new normal in real estate favors a larger number of renters and an increase in landlords just trying to get buy, according to the National Multi Housing Council’s mid-year apartment strategy conference. Former U.S. Congressional Budget Director Doug Holtz-Eakin said it’s inconceivable the government would stop subsidizing real estate, despite Republican efforts in Congress to eliminate many of the benefits lawmakers … [Read more...]

Investing in Rental Housing

By Lois A. Vitt, Ph.D. Anyone who knows how to pick stocks will tell you that successful investment starts with understanding the business of the companies chosen, buying low and selling high. The same is true investing in real estate. If you want to try investing in rental housing, this could be the perfect time. Becoming an owner of rental homes has made millionaires of many who chose to take this investment path. If housing … [Read more...]

Tight Rental Market Squeezes Tenants

By Mike Colpitts A lack of rental housing for the first time in years in the multi-family residential market is sending the rental market into a recovery. Vacancy rates fell to the lowest level in 2010 in more than four years as a leading rental advisory firm forecasts higher rents in 2011. Witten Advisors, a firm that provides key strategies to the new apartment building industry, predicts rents will increase 4.5% during the year as … [Read more...]