IN THE NEXT DECADE MILLENNIALS & GEN Z WILL SURGE THE REAL ESTATE RENTAL MARKET……..

Image Source: Money.com

By: Economic & Finance Report

According to Yahoo Finance, Morgan Stanley real estate analysts have predicted that millenials and generation Z will account for a seven percent increase, in home ownership within the next ten years.

Lookout Gen Y’ers and Baby Boomers, Millennials and Gen Z will be outpacing you guys when it comes to real estate rentals, over the next decade.

Morgan Stanley analysts have indicated that millennials and gen Z will increase the rental market by an extra two million units within the same ten years.

Although millennials and generation z are still approx. eight percent lower in homeownership, then baby boomers and generation y; when both groups were at the same age, times are changing. -SB.

Source: Yahoo Finance, Urban Institute (2018 Housing & Finance Study)


REAL ESTATE STARTUP ZUMPER, RAISES A COOL $6.5 MILLION……

Zumper

By: Economic & Finance Report

Zumper the real estate website for apartment renters unleashed financial data, that they raised $6.5 million for their real estate platform. Last year they raised a cool $6.5 million as well,  for their launch.

Zumper attains 1.5 million visitors monthly, to their platform. Most of their visitors go through the website using mobile devices.  Many people nowadays use mobile devices to scour the internet because of the convenience, and it’s less time consuming.

Zumper makes money through utilizing their application fees and through their listing service, which allows members to list rentals. They are competing with Craigslist and Hotpads (owned by Zillow) in the rental space realm, just to name a few of their competitors.

It will be interesting to see the direction Zumper goes in the real estate rental market…. -SB

THE HOTEL INDUSTRY WANTS AIRBNB HOSTS TO GET LICENSES.. WILL THEY LISTEN???

airbnb

BY: Economic & Finance Report

The hotel industry is going full force at town and city regulators around the US, to have individuals who are registered with AirBnB to attain licenses that are mandated in city and town laws. Many AirBnB participants seem to be able to skirt or skirmish from attaining licenses to be able to rent or sublet their apartments, condos, coops, room residences, because they are simply not registering for the applicable licenses.

Many homeowners who use AirBNB indicate they do not need licenses because most times they are only renting out a room or a residence less then the time needed legally to adhere to a license within city limits.

The license that is needed or at issue is what is called a vacation rental license which allows most rentors to rent or lease out their property for  a few years. Many residents don’t apply for the license which has become a problem to the hotel industry in many towns and cities, because they believe fraudulent behavior is going on.

Many hotels have to obtain and sustain licenses and they believe companies such as AirBNB are hurting the industry and the hospitality sector as a whole with what is happening. City and town regulators have been watching these developments unfold but it has been difficult to actually go after AirBNB hosts who do not follow the law and obtain the vacation rental licenses, because of how complex the situation is in general.

-SB

APARTMENT RENTERS: EXPENSIVE CITY AREAS TO LIVE IN THE U.S.

apartments bldng

By: Economic & Finance Report

As prices of products and services increase so do living conditions around the United States.  Survey that was conducted by Apartments.com, below are expensive apartment rentals sections/cities around the country…

1) Philadelphia, Pa: Bottom of the list. (Home of Brotherly Love)

2) Pasedena, Ca:  Nothing like being close to southern LA, and celebrity life.

3) Washington, D.C. The nation’s capitol, why not they government regulates damn near everything anyway, to say the least… Why not place being expensive place to rent an apartment as well.

4) Queens, NYC:  Whoo-hoo we made it QU…. The apartment and cost of living is decent Not that expensive,  definitely suburban life, houses, yards, garage, drive way…. I should know, I’m from there….

5) San Diego, Ca: Nothing like living in Southern California, sun, beaches, good life…..

6) Newport Beach, Ca: That beach sun life, shout out to San Diego our cousin’s… Can’t forget beautiful women life….

7) Jersey City, NJ: I can see this, expensive apartments, condos, coops, especially by the water.. The view of looking toward New York City… Million dollar views… I see this definitely.

8) Great Neck, LI…  Long Island definitely expensive and the taxes yeeeesssshhhh…Hope you have a good income for the property taxes…

9) Palo Alto, Ca: Tech city baby… Latest technology home bases…

10) Oakland, Ca: Wow Oakland has come a long way… Expensive apartments to rent, very interesting….

11) Boston, Ma: Those Bostonians do it again, making the list.. I see you guys, watching you guys and gals too (lol).

12) San Francisco, Ca: I see the Golden Gate Bridge: South side lifeeeeeeeee…

13) Brooklyn, NYC: Big Ups to Broooooookkkkllllllynnnnnnn….

14) Manhattan, NYC:  Tops the List...Of course, everything in Manhattan is expensive not just apartment…. Lavish lifestyle, I should know… Trust I should know….

-SB