Investment Update: Low-Tier Rents Outpacing High-Tier Homes

first_img  Print This Post Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: FHFA Issues Guidance on Refinances, Purchases While in Forbearance Next: Update on CARES Act and Liquidity About Author: Seth Welborn Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago U.S. single-family rents increased 3% year over year in March 2020, the same rate of increase as March 2019, according to the CoreLogic Single-Family Rent Index (SFRI). The index measures rent changes among single-family rental homes, including condominiums, using a repeat-rent analysis to measure the same rental properties over time. Single-family rents were on the rise in early 2020 prior to the COVID-19 outbreak, having increased by an average of 3.1% year over year for the first three months of the year. Impacts from state and local shutdowns on the rental market will be apparent in the coming months.Using the rent index to analyze specific price tiers reveals important differences in rent growth. Figure 1 shows that the index’s overall growth in March 2020 was propped up by low-end rentals, defined as properties with rents 75% or less of the median rent of the metro area. Rents on low-tier rental homes increased 3.9% year over year and rents for high-tier homes, defined as properties with rents more than 125% of the metro-area median rent, increased 2.7% year over year. Rents for low-tier homes have been outpacing than those of high-tier homes since April 2014, and while the difference in these growth rates has narrowed over time, it widened again in March 2020.Rent growth varies significantly across metro areas. Figure 2 shows the year-over-year change in the rental index for 20 large metropolitan areas in March 2020. Phoenix had the highest year-over-year rent growth this March as it has since late 2018, with an increase of 6.8%, followed by Seattle (+6.2%) and Tucson (+5.3%). While none of the 20 metro areas showed decreases in rent, both Philadelphia and Honolulu recorded sub-1% growth in March. Philadelphia also had the largest deceleration in rent growth in March, showing annual rent growth of 3 percentage points lower than in March 2019. Seattle had the largest acceleration in rent growth in March, with rents increasing 5 percentage points faster than in March 2019. Employment gains turned negative in four of the 20 metros tracked in the report in March, a trend that will soon reach the remaining metros, likely impacting single-family rental prices. Home / Daily Dose / Investment Update: Low-Tier Rents Outpacing High-Tier Homes Share Save The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img May 19, 2020 1,016 Views Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Investment, News Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Investment Update: Low-Tier Rents Outpacing High-Tier Homes Tagged with: Investment Rental Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Investment Rental 2020-05-19 Seth Welborn Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Demand Propels Home Prices Upward 2 days agolast_img read more

Greggs launches national apprenticeship programme

first_imgGreggs has launched a national apprenticeship programme that it claims will help to fast-track its expansion plans.The Newcastle-based business has teamed up with Gateshead College to deliver the scheme. It will see 120 apprentices trained in retail service or management in eight locations – Tyne & Wear, County Durham, Norfolk, Bristol, London, Greater Manchester, Yorkshire and the Midlands.Apprentices on the retail service course will be trained in customer service, sales, equality and diversity, and workplace health and safety. They will also gain insight into Greggs’ business model and skills such as teamwork, problem-solving and presentation and interview techniques.Meanwhile, apprentices on the team leader course will learn additional skills in management, motivation and conflict resolution.Greggs said the scheme would help it develop a new pipeline of skills to support its future growth plans, which include the opening of more outlets in the south west of England and Northern Ireland.The company last week said it expected to open 140-150 shops and close 40-50 in its current financial year, a net increase of around 100. The company’s total sales have grown 7.8% in the year-to-date, with like-for-like sales up 3.9%.“We’re thrilled to be working in partnership with Gateshead College on this exciting project, which is a great way of bringing new skills and fresh ideas into our business. This unique, collaborative approach has created a training offer that has been designed specifically to support our business goals and future growth plans,” said Roisin Currie, people and retail director at Greggs.Gateshead College was selected for the scheme following a competitive tender process. Together, Greggs and the college will train apprentices to an industry-defined standard that replaces traditional qualification frameworks and requires staff to demonstrate specific skills, competencies and personal attributes when carrying out their day-to-day jobs.“Together with Greggs, we’ve developed a flexible, dynamic training solution that is tailored specifically to the needs of the business,” added Ivan Jepson, director of business development at Gateshead College.The food-to-go business said trading had benefited from investment in greater product availability and service, reporting total sales up 8.6% in the 13 weeks to 30 September. Like-for-like sales through company-managed shops rose 5% over the period.Greggs said investment in its supply chain was progressing, and that it was focusing on redeveloping its Leeds bakery to consolidate manufacturing of small cakes and muffins. The business is to trial a new supply chain system in two sites ahead of broader roll-out next year.last_img read more

Hot Shot! Treasury Secretary Jack Lew Heads to Hamilton

first_img from $149.00 Related Shows View Comments Hamilton It takes one to know one! On August 26, Hamilton star Lin-Manuel Miranda welcomed a special guest backstage: Treasury Secretary Jack Lew. If that seems a little less exciting than J.Lo, Zachary Quinto, Stephen Colbert or even the Veep, you might be missing an important fact. Secretary Lew probably wouldn’t have his current job without Alexander Hamilton. After all, the 10-dollar Founding Father was the very first Secretary of the Treasury. Now that the government honcho has seen the hip-hop musical celebrating his predecessor, perhaps he’ll rethink that redesign. last_img

Former NIADA President indicted for fraud that victimized CUs & banks

first_img continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr A Pennsylvania grand jury indicted the former president of the National Independent Auto Dealership Association for allegedly running a four-year, multimillion-dollar auto loan fraud scheme that victimized credit unions, banks and General Motors.Andrew Gabler, 50 of Harborcreek, who served as president for NIADA for more than a year and owned two car dealerships outside of Erie, and his finance manager Chad Bednarski, 48, of Fairview, were indicted last week on 17 felony counts of bank, wire and mail fraud.According to the indictment, from January 2015, to January 2019, Gabler and Bednarski falsely said that customers made a down payment and then inflated their income on auto loan applications submitted to financial institutions on behalf of customers.The scheme allegedly victimized the $317 million Widget Federal Credit Union and the $111 million Tendto Credit Union, both of Erie, the $373 billion Capitol One Bank in McClean, Va., the $7.3 billion S&T Bank in Indiana, Pa., and General Motors.last_img read more

Saathoff scores Eagle IMCA Modified win

first_imgJohnny Saathoff was the IMCA Modified winner Saturday at Eagle Raceway. (Photo by Joe Orth)By Greg SoukupEAGLE, Neb. (June 10) – Johnny Saathoff was in the right place at the right time to collect Saturday’s Kaplan University IMCA Modified victory at Eagle Raceway.“I think it’s been about 11 months since my last feature win here. I’ll take wins any way I can get them,” the four-time Eagle track champion said.  “I just need to get my car figured out a little better. Tonight it was a little closer, so we’ll keep working on it. We’re running an open motor that Speedway built for us and it’s been working out really well. It’s just driver error when we’re not doing very well.”Shane Hiatt, Clint Homan and Bob Zoubelk rounded out the top four.Adam Gullion won for the first time this season at Eagle in the IMCA RaceSaver Sprint Car main event.Shawn Harker started 10th and won his third straight Hoosier Tire IMCA Northern SportMod feature. Roy Armstrong scored his second straight Valentino’s IMCA Hobby Stock checkers.Erica Krichau was promoted to the top spot in the Mountain Dew Kick Start IMCA Sport Compacts when the apparent winner was disqualified in post-race tech.last_img read more

Umar Sadiq: Man U interest is ‘no accident’

first_imgRangers flop Umar Sadiq has insisted that it’s “no accident” that he is being tracked by Manchester United.The Nigerian bombed at Ibrox with just four appearances under his belt and no goals during his time on loan from Roma. After having departed the Glasgow outfit and then the Italians, Sadiq has rebuilt his career at Partizan Belgrade.So much so that Red Devils boss Ole Gunnar Solskjaer has reportedly had the striker watched as recently as last week with a move to a potential bid after he scored 17 goals in 35 games for the Serbians this term.Sadiq, though, reckons he has merited the interest from the Premier League giants after a good campaign.“Manchester United’s interest is a big compliment for me as a player,” he told Belgrade daily Republika.“But, believe me, nothing is accidental. “Partizan have helped me a lot in my career.“I found my way, and now I just follow what they ask of me.“I think this is just the beginning of my success, and the motivation is there.“We work thoroughly before every game.“We don’t only talk about tactics and video analysis, but also human relationships. “Whether it’s the manager, Savo Milosevic, or someone else from the coaching staff, they are always there for us.“As for United, I think they were surprised by how we played against them in Belgrade.“They put out their best team, which tells you how much respect they had.”According to reports, AC Milan are also being linked with a potential move.RelatedPosts Ighalo: My best moment as ‘Red Devil’ EPL: Crystal Palace stun sloppy Man U EPL: Red Devils attack Palace He is under contract until 2022 at Partizan.Tags: Manchester UnitedPartizan BelgradeRangersUmar Sadiqlast_img read more