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How Affordable Is Renting in Chicago?

“Chicago ranks well below other major US and global cities when it comes to rent affordability.” So says two recent reports, one by AppFolio, based in the US, and Nested, a real estate brokerage in Great Britain. As stated in the Chicago magazine Curbed, Nested “estimates the average cost of rent for a single person in Chicago to be around $1,047 when considering that the price for apartment to be about $2.50 per square foot. The group estimates that the monthly rent for Chicago families is somewhere around $1,986, meaning that families need to earn just over $82,000 to pay rent.” However, for families and individuals priced out of the home buying market, renters in single-family homes in Ch

A Different Demographic Look

Boomers, Millenials, Gen X, Gen Y, the Greatest Generation: these are they typical way many demographers look at us, and how the different cohorts may look at the world differently. But in their recent book “The Big Shift” by John Burns, Founder of John Burns Real Estate Consulting, has broader take. He looks at the decade in which you were born to find distinctions in perspectives, values, and opinions, and on how your decade of birth impacts your views on housing. One pertinent fact: people born in every decade since the 1940s has between 40 million and 45 million people currently living in the US. Burns see the four biggest influencers as: 1. New technologies 2. Government policies 3. Eco

Mortgage Calculators for Landlords

Thinking of buying investment property but getting stuck on the math of it all? For shortcuts to calculating cash-on-cash returns, break-even analysis, estimated monthly net income, and more, here are several to review: Try these landlord-friendly online calculators: www.bankrate.com www.calculator.net www.goodmortgage.com www.mortgagecalculator.org www.ultimatecalculators.com www.zillow.com Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at 917-209-4452 or harold.willig@springviewinvestments.com Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital G

Demographics Trends in Birth Favor Landlords

Current trends in the United States birth rates may spell more opportunities for landlords of single-family homes. According to John Burns, CEO of John Burns Real Estate Consulting and author of the new book Big Shifts Ahead: Demographic Clarity for Business “40% of all kids are born to an unmarried mom and 32% of all kids live with only one parent.” The impact of the long-term shift to more one-parent households is that “The expenses of raising children alone make it very difficult to become a homeowner,” said Mr. Burns. But families still like living in homes. While many may not be able to afford even a 3% down payment on a home, they can afford a security deposit and first month’s rent. I

To Buy or Not to Buy: Doing the Math for Home Renters

Investors in single-family homes may want to be able to provide potential renters a worksheet on the cost pros and cons of buying versus renting. The New York Times and Kiplinger's compiled the infographic below. The key takeaway: while no two situations are alike, it may be better to rent for the first four years, but if you are in the same place after year five, it might be better to buy. For more information on why your should consider investing in a professionally managed portfolio of single-family homes, please contact Harold Willig at harold.willig@springviewinvestments.com or 917-209-4452. Mr. Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr

Cliff Notes on the Housing Outlook for 2017 from NAR [Infographic]

While all real estate is local, The National Association of Realtors has compiled their annual outlook for housing in the US in 2017. In short, here’s what NAR foresees as going up: Mortgage interest rates, to 4.6% by year-end. Existing home sales, by 5.5 million during the year. New housing starts, by 1.1 million. Gross Domestic product (GDP) by 2.2%. And what’s potentially going down: Median home prices, by 4.0%. According to the Realtor.com® 2017 National Housing Forecast “The 2017 housing market will be a year of slowing, yet moderate growth, set against the backdrop of a changing composition of home buyers and a post-election interest rate jump that could potentially price some first-ti

Tricon’s Purchase of Silver Bay: A Positive Signal for Investors in Single-Family Homes?

Tricon Capital Group, the Toronto-based investor and asset manager in residential real estate in the US and Canada, recently announced its acquisition of Silver Bay Homes. Silver Bay Homes is residential real estate firm that buys, renovates, manages, and maintains single-family homes in the US. The Tricon buy could be a vote of confidence for investors in single-family homes. “The announcement yesterday that Tricon Capital Group will be acquiring Silver Bay Realty Trust (NYSE:SBY) confirms that there is a silver-lining on the single-family REIT sector,” reported Seeking Alpha magazine on March 2, 2017, “even as interest rates are expected to rise. This is an indication that there is still s

Zillow Report: How Generational, Social and Racial Gaps Have Impacted US Housing

Zillow recently released a study“Why and How U.S. Racial, Social and Generational Gaps in Opportunity Matter to Housing” at the Zillow Economic Forum in Washington DC in January 2017. Key findings: Generational Changes Today’s home renters generally rent an apartment or home for more than three years longer than the generation before. First time homebuyers in 2010 -2013 were renters for six years on average before buying a home. By contrast, first time buyers of homes rented for only 4.6 years. Translation: this is good for landlords as more people rent for more months before becoming buyers. From the report: “Today’s first-time home buyers are significantly different than first-time buyers

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