High rates of home ownership, falling condo prices, variations in pandemic pounding in commercial real estate, spending another stimulus check, and Emmy-nominated digs and cribs.
In Today’s News
More than two-thirds of American households now live in a home they own, the U.S. Census Bureau says, reaching a level last seen in 2008 as the housing market was entering an epic collapse during the Great Recession.
Why it matters: The data show that younger buyers are driving the surge of buyers attracted by low rates and despite an economy that has seen the sharpest one-quarter collapse in modern U.S. history. It also shows renters account for a lot of that growth, and that a lot of them are moving into other housing. It’s all a reminder that the pandemic’s economic effects take many forms.
The national median price for a condo fell 1.4% year-over-year to $252,000 in June at the same time as single-family homes rose 2.6% to $322,000, Redfin says.
Why it matters: The online listing service says while the variance may reflect increased desire for the spacing of single-family homes, there’s also an uptick in condo sales underway. Deal-seeking investors might find the time is right now in their market.
This blog from Amherst Capital reports that while the long-term effects of the pandemic remain to be seen, it already has changed how people interact with space, and that some real estate sectors will never be the same. All from the view of financing these investments.
Why it matters: This is a tidy roundup of arguments for why single-family eyes are looking to the suburbs and beyond, how office space has proven more resilient than retail, and the segments where commercial real estate will recover the most slowly. It’s a quick read that covers a lot of ground for your weekend mulling.
Today on Millionacres
No deal has been struck yet but the assumption on both sides of the aisle is that sooner or very soon there will be a second stimulus check heading its way to hundreds of millions of Americans. Here are some ideas on what real estate investors can do with that found cash.
Why it matters: Now’s a good time to seize on some beaten-down real estate industry stocks, and a thousand bucks or two could pick up a nice little stake to get you started. There are some other ways to invest in yourself and others included here, too.
The 72nd Emmy nominations are officially out. And while the nominated shows certainly boast skillful acting, top-notch writing, and jaw-dropping visuals, there's something else they share, too: iconic (and expensive) real estate.
Why it matters: Aspiration and inspiration both come from the same Latin root, “spir”, which means “to breathe”. Breathtaking properties like some of these TV homes featured here by Millionacres’ Aly Yale may be beyond your reach now, but maybe this will help inspire you to reach for what you aspire to.
Get the 'Dirt on the real estate market
Are you looking for the next hot real estate market? Want to know how new rules and regulations could impact your next home purchase or real estate investment? Would you like to find out which improvements to your property will get you the most bang for your buck? We cover all these things and more in our newsletter, Paydirt.
Sign up here to get our best insights delivered to you.