Tag

Rental Housing

All articles tagged with #rental housing

us5 days ago•5 min saved

Maui braces for housing cliff as FEMA rental aid expiration looms

Nearly 1,000 Maui households displaced by the 2023 wildfires could lose FEMA rental assistance as a decision on extending the program approaches; the current 18-month aid runs through February 2026, but Hawaii has asked for another extension amid a rental market with under-2% vacancy and rents up 50–60% since the fires. If aid ends, hundreds in modular and direct-lease units and those depending on aid face eviction or relocation, threatening recovery in Lahaina. Contingency plans include Kilohana’s 167-unit modular complex and Ka La’i Ola housing, and officials say extensions could come with milestones to accelerate rebuilding, while the county and state prepare plans to take over units if needed.

via NBC News|

#disaster-recovery #fema #maui

business1 year ago•2 min saved

"Blackstone's $10 Billion Deal: Taking Apartment Income REIT Private"

Blackstone is set to acquire Apartment Income REIT, also known as AIR Communities, for $10 billion in cash, including debt, signaling a bet on a potential easing of pressure in the commercial real estate market. The deal represents a 25% premium on AIR Communities' closing price on Friday, and Blackstone plans to invest an additional $400 million to enhance the firm's 76 rental housing communities. This move reflects Blackstone's focus on rental housing and its confidence in the sub-sector's future prospects, as well as its recent agreement to take private Canadian single-family rental housing firm Tricon Residential.

via Reuters|

#apartment-income-reit #blackstone #business

real-estate1 year ago•5 min saved

"Renting vs. Buying: The Current Housing Market Dilemma"

The housing market has become increasingly unaffordable for potential homebuyers, with the median sales price for existing homes rising over 40% and mortgage rates doubling since early 2020. As a result, renting has become a more attractive option in most major cities, with a 2023 analysis finding that renting was cheaper than buying in 47 of the 50 largest metropolitan areas. Economists predict that homeownership won't become more affordable without a significant decline in interest rates or home prices, while rents are expected to remain relatively stable due to a surge in construction of rental housing.

via USA TODAY|

#homeownership #housing-market #mortgage-rates

economics1 year ago•5 min saved

"Inflation Surprises: Dow Plunges as Rising Rents Drive Prices Higher"

The US consumer price index (CPI) rose 0.3% in January, driven by a surge in rental housing costs, with shelter accounting for over two-thirds of the increase. Despite the higher inflation, the Federal Reserve is still expected to start cutting interest rates in the first half of 2024. The CPI increased 3.1% year-on-year, while core CPI rose 3.9%. Economists believe that not all inflation drivers will factor into the Fed's preferred inflation measure, and expect inflation to ease in the coming months. Policymakers are cautious about cutting rates and want convincing evidence of sustained slow inflation before taking action.

via Reuters|

#consumer-price-index #economics #federal-reserve

housing-market2 years ago•0 min saved

"Rising Housing Costs Burden Record Number of American Renters"

The America's Rental Housing 2024 report provides interactive maps and data on the rental housing market, with principal funding from Wells Fargo and contributions from a diverse advisory group including organizations such as the National Apartment Association and the Urban Institute. For data requests or embedding permissions, contact the provided email, and for media inquiries, reach out to Kerry Donahue, the Director of Communications.

via Joint Center for Housing Studies|

#advisory-group #data #housing-market

business-real-estate2 years ago•1 min saved

"Blackstone Acquires Tricon Residential in $3.5 Billion Deal"

Blackstone Inc. is set to acquire Tricon Residential Inc. for $3.5 billion, expanding its investment in the rental housing market. The deal involves Blackstone paying $11.25 a share in cash for Tricon, a Toronto-based company with a portfolio of approximately 38,000 rental homes in the US, including single-family rental homes and apartments.

via Bloomberg|

#acquisition #blackstone #business-real-estate