John Burns
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Bad news for U-Haul.57% of apartment tenants are renewing their leases, partly because entry-level home buying is so low.
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Carla Earhart
Housing Educator / Scholar / Advocate (specializing in Multifamily Rental Housing)
3d
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Could the low turnover be a reflection that these residents enjoy where they are currently living?
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Jon Anderson
Small Business Owner
3d
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I own a moving and storage business and it’s been a horrible two years. Housing market has came to standstill.
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David R. Holley
3d
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Elections have consequences!
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Ben Ketel
Tailwind Investment Group
3d
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Well in an economic contraction, and rent control environments, saying put and eating the nominal rent increase is a better option for tenants.
Katya D.
🟣 SCALE YOUR SALES WITH AI 💻 Founder @ AI Marketing Hub | Top 1% Upwork Expert Vetted 📈 | 8+ Years Supercharging Business Growth. Speaks English, Spanish, French, International Team
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Interesting statistic! It appears to reflect not only on the state of the real estate market but also on the changing tenancy and moving industry dynamics.
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Armand Aghadjanians
Self-Storage Investors & Third-Party Managers | RHWCapital.com | StoreHere.com | SiteHawkRMS.com
2d
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Hi John— curious if you’ve seen U-Hauls financials since they are a REIT to confirm.What’s the best source you’ve seen for moving data?Saw someone else explain that current oversupply of new apartments have been absorbed at a quicker than anticipated pace because of pent up demand.Thanks for posting! Just trying to learn more about mover patterns since it’s so consequential to our sector (self-storage)
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Jorge Becerra
Loan Officer / Cell 626-665-3586 /Specialist in: Loans for all 50 states / NMLS 197726
3d
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Don't most Apartment leases go to month to month after the 1st year? Making the data not quite as sticky. Or are the renewals based on brand new 1yr leases?
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Bob Teglia
Certified General Appraiser at Rocket Commercial Real Estate Services
2d
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I had no idea "normal" turnover was actually that high. What a miserable business. Why doesn't every multifamily owner just sell and switch to "real" commercial assets?!? Why deal with the consumer when you can have a rational tenant that is there to make money rather than take yours?
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Paul Morgan
Senior Vice President, Head of Data Science & Research at Carmel Partners
3d
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Interesting that mortgage rates were at all-time lows in 2021 and the turnover rate was the same.
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John Burns
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Operating expenses are skyrocketing for some SF rental owners and plunging for others.We partnered with the National Rental Home Council to survey the owners of 254K rental homes.Some have seen lower expenses due to lower turnover, and even declining insurance costs.Others have seen the exact opposite.The differences are regional and available to our clients and survey respondents.David Howard
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John Burns
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I know this is a great career opportunity because I have been doing much of it for the last 22+ years.As we have grown, I have been shedding the many hats I wear to people who are more qualified and specialized than I am. And as I have done that, we have only gotten stronger.We are hiring a Principal with the passion and ability to spearhead the growth of our research division. I can guarantee that you will get to work with some great team members and clients who are passionate about solving today and navigating tomorrow.#research #leader #growth #executivehttps://lnkd.in/gJ9H5KYj
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John Burns
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Thanks for spreading the word Jay.The interesting thing for me is the growth in the number of people who own 1-9 "investment properties." I run into them at conferences, and you see them online a lot.I've always been curious about the number of homes owned by elected officials.
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John Burns
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What is the hottest residential market in the country?Irvine is nearing buildout, which means that the new supply built every year to meet demand is about to end. This is already contributing to excess home price appreciation.https://lnkd.in/g2ehMV4wPaywalled source with charts: https://lnkd.in/gietKDkb
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John Burns
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What a roller coaster ride for the building materials industry the last 2 years!
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John Burns
John Burns is an Influencer
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Real estate agents are seeing demand pickup for the first time this year.Sample was 1100 agents nationwide at month end.
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John Burns
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Join our Housing Market Team https://jbrec.comIf you would like to participate in our surveys and see some of our insights, please sign up here. We survey home builders, land developers, land brokers, building product manufacturers, apartment developers, commercial RE investors, architects, real estate agents, remodelers, single-family rental owners lumber and building material dealers, and consumers.https://lnkd.in/gqPEKWzm
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