The National Apartment Association (NAA) has joined a lawsuit filed by the New Civil Liberties Alliance (NCLA), challenging the U.S. Centers for Disease Control and Prevention’s (CDC) overreaching eviction moratorium order.
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When it comes to eviction moratoria and other COVID-19 relief efforts, the focus often is on renters' hardships. A new study concentrates on struggling landlords who derive a large portion of their income from their tenants.
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There was an improvement in the number of active forbearance plans this past week. The latest data from Black Knight shows that more than two million forbearance plans are set to expire in September.
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According to a recent survey conducted by researchers at unclutterer.com (a home and office organization website), many Americans are looking to relocate post-pandemic. The most popular reasons given for this wished-for migration include the fact that many Americans report being either bored with their current locations (following weeks upon weeks of lockdown) or simply wanting to move away from their densely populated cities and towns to put down new roots in wide open spaces.
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CoreLogic's Single-Family Rent Index, "which analyzes single-family rent price changes nationally and across more than 80 metropolitan areas," reported this week that U.S. single-family rent growth stabilized for the first time since the beginning of the pandemic.
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Analytics provider CoreLogic today released its monthly Loan Performance Insights Report for June. It showed that, nationwide, 7.1% of mortgages were in some stage of delinquency. This represents a 3.1-percentage point increase in the overall delinquency rate compared with the same period last year when it was 4%.
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U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson Friday announced the allocation of the remaining $1.988 billion in CARES Act funding for the Community Development Block Grant (CDBG) program. The allocation focuses funds towards places with households facing higher risk of eviction. To date, HUD has provided nearly $5 billion in CDBG funding nationwide to help communities combat the coronavirus and alleviate economic hardship.
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For years, the ultimate American Dream meant not only owning a home, but owning a home in California, noted Realtor.com in a recent article. But the Golden State, according to analysts, is losing ground as the most-desirable place to dwell. So what states stand to replace it?
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Together with Moody's Analytics, CNN recently came out with a new measure of the economy. It is called the "Back-to-Normal" Index. The index hit a low point of 59% of normal in mid-April, which was during the height of the economic shutdown. By mid-August we were at 78% of normal. By our count that means we are just about 50% of the way back. It stands to reason that the first sector of the recovery would be the easiest to achieve. In other words, progress from here may take longer.
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Orange County was one of the first regions to impose stringent lockdown measures to contain the spread of the coronavirus, and this was reflected in the multifamily market’s evolution. The metro’s average rent contracted 0.5% on a trailing three-month basis through May, 30 basis points lower than the U.S. rate. Still, the county’s $2,121 average is well above the $1,460 national figure.
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