USGS National Seismic Hazard Model updates will have material impacts on insurance portfolios The United States Geological Survey (USGS) just released a major update to the U.S. national seismic risk map. CoreLogic’s initial implementation of the new model shows that the impact to earthquake insurance writers’ risk assessment decisions may be monumental. Changes from this update vary and can be spatially nuanced, but to exemplify the magnitude of this shift in risk, this article focuses on a sample market portfolio in the state of California.[1] Exposure and risk management decision-making constantly evolve since both external and internal pressures heavily influence these determinations. When the underlying science used to calculate peak peril risk increases or decreases, it is of the utmost importance to ensure that risk management strategies react accordingly. CoreLogic Implements New USGS Hazard Model The USGS released a nationwide update to its National Seismic Hazard Model (NSHM) in January …
Yardi Says Steady Absorption is Boosting Multifamily Rents
According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rent was $1,725 in April, 2024. Yardi says multifamily rents increased for the second straight month, as the market benefits from robust demand. Indeed… “Although rent growth remains moderate, there are plenty of encouraging signs in the data. Most importantly, demand for apartments continues unabated due to high levels of household formation stemming from the strong job market, large numbers of immigrants and ongoing migration to the South and West.” Click here to read the full report at Yardi. The post Yardi Says Steady Absorption is Boosting Multifamily Rents appeared first on Real Estate Investing Today.
427: A Libertarian Perspective on the Market Economy
Podcast: Download I have frequently described myself as most aligned with libertarian thought when it comes to my own politics. In terms of the economy, libertarians believe in the concept of a free market. Libertarians argue that a truly free market fosters prosperity, innovation, and individual liberty. But that doesn’t
Top 10 Equity-Rich ZIPs in Q1 2024
According to ATTOM’s just released Q1 2024 U.S. Home Equity & Underwater Report, 45.8% of mortgaged residential properties in the United States were considered equity-rich. This indicates that the total estimated loan balances tied to these properties did not surpass half of their estimated market values. The latest home equity and underwater analysis compiled by ATTOM found that in the initial quarter of 2024, the proportion of mortgaged homes classified as equity-rich declined to 45.8%, a slight drop from 46.1% in the preceding quarter. This marks the third consecutive quarterly decrease. Additionally, compared to the first quarter of 2023, where the figure stood at 47.2%, it has reached its lowest point in two years. ATTOM’s first-quarter home equity and underwater report noted that in 26 out of the 50 U.S. states, there was a decline in the proportion of mortgages classified as equity-rich from the fourth quarter of 2023 to …
Mother’s Day is May 12th
This Sunday, May 12 is Mother’s Day (your final reminder, btw). The History Channel says Mother’s Day became an official U.S. holiday in 1914 and traditionally involves presenting moms with flowers, cards and other gifts. Today’s infographic from Groupon shares with us the best ideas for what Mom really wants (and doesn’t) on this special day…and yes, a card is necessary. As always, stay safe and have a Happy Friday!!! Hat tip to Groupon. The post Mother’s Day is May 12th appeared first on Real Estate Investing Today.
It’s a People Business, Not a Property Business
On a recent episode of the Rent Perfect podcast David Pickron talks with Gary Mazzarella (and investor and landlord) about some of the people strategies they use to find success in the marketplace. “Landlords often fall into the trap of thinking that their business is all about the property… they couldn’t be more wrong.” David Pickron Click here to listen on Spotify. The post It’s a People Business, Not a Property Business appeared first on Real Estate Investing Today.
How High Atlantic Ocean Temperatures May Affect 2024 Hurricane Season
Atlantic hurricane news: 2024 could potentially be an explosive season The countdown to the start of the 2024 Atlantic hurricane season has already begun for many risk management professionals. June 1 marks the beginning of the season when conditions in the North Atlantic Ocean (NAO) typically reach a point where they could sustain hurricane growth and development. The period from June 1 until Nov. 30 — the official end date of the hurricane season — accounts for 97% of all Atlantic Ocean tropical cyclone activity. Fortunately, pre- and early-season tropical cyclones (the generic term for hurricanes, tropical storms, or typhoons) are rare and generally weak. The reason for this is that conditions are not quite extreme enough this early in the year. Tropical cyclones are heat engines. They require fuel in the form of heat from the ocean for power. The more heat, the more fuel available for the engine …
U.S. Construction Spending Dips Slightly in March
The U.S. government is reporting that total construction spending in March, 2024 was at a seasonally adjusted annual rate of $2,083.9 billion, which is 0.2% lower than February’s number. However, March’s revised estimate is 9.6% higher than one year ago. Residential construction came in at a seasonally adjusted annual rate of $884.3 billion in March, which is 0.7% lower than February’s revised estimate. Click here to read the full report at the U.S. Census Bureau. The post U.S. Construction Spending Dips Slightly in March appeared first on Real Estate Investing Today.
Zumper’s National Rent Report for April ’24
Rental information site Zumper recently released their latest monthly National Rent Report for April, 2024. According to their data, median rent for 1-bedroom apartments was $1,486 (down 0.6%) and $1,843 (up 0.1%) for two-bedrooms. Be sure to check out their list of the top 100 metro areas. “It seems we are firmly settled into the year of the renter as people have more options now than in recent memory…With Class A buildings marketing concessions that include up to three months of free rent, free parking, and waived deposits and application fees, this, in turn, puts pressure on Class B and C buildings to price competitively as well in order to attract tenants.” Said Zumper CEO Anthemos Georgiades. Click here to read the full report at Zumper. The post Zumper’s National Rent Report for April ’24 appeared first on Real Estate Investing Today.
FHFA Says Home Prices Up 7% from 2023
According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), home prices home prices rose 7% between February 2023 and February 2024. In addition, FHFA’s seasonally adjusted monthly index for January was up 1.2% from February. The FHFA HPI is the nation’s only collection of public, freely available house price indexes that measure changes in single-family home values based on data from all 50 states and over 400 American cities that extend back to the mid-1970s. “U.S. house prices rebounded with an increase in February, after declining slightly in January…All nine census divisions experienced price appreciation over the last 12 months, with New England and Middle Atlantic divisions posting double digit growth.” Said Dr. Anju Vajja, Deputy Director for FHFA’s Division of Research and Statistics. Click here to read the full report at the FHFA. The post FHFA Says Home Prices Up 7% from 2023 appeared …