In Today's News
Predicted Summer Snapback Underway in Residential Housing Sales
Zillow (NASDAQ: Z) (NASDAQ: ZG) said today that buyers snapped up homes at a record pace in June, sending pending sales upward faster than new listings and helping to drive a 4.3% year-over-year jump in typical U.S. home values.
Why it matters: The window of opportunity that the pandemic suddenly opened for easy pickings for home flipping could be closing nearly as quickly in many markets.
Foreclosures Fall to Record Low, But Will They Stay That Way?
ATTOM Data Solutions says that foreclosure filings for the first six months of 2020 were at a record low, down 44% from a year ago. A hot market before the pandemic struck and moratoriums that followed seem to be responsible.
Why it matters: Conventional wisdom suggests that troubled mortgages will soon soar as foreclosure moratoriums and unemployment benefits expire. How much that would offset the boom underway now is a subject for speculation and something each investor needs to watch in their own market.
Old Businesses Hammered by New Coronavirus
An academician has determined that the number of working business owners plummeted from 15 million in February 2020 to 11.7 million in April 2020. This New York Times piece puts a human face on that economic disaster.
Why it matters: Mom and pop retail businesses aren't just sentimental favorites, they're frequently tenants of mom and pop real estate managers and investors, too. Their demise is sad news all around.
Today on Millionacres
4 House-Flipping Myths That Could Cost You
Buying low, putting in some sweat equity and a bit more cash, selling high. What could be so hard? Millionacres' Maurie Backman answers that question four ways.
Why it matters: Reality TV feasts on house-flipping shows that make it look easy to make a mint. There surely is money to be made in the trade, but don't go into it with eyes wide shut.
Better Buy: Equity Residential (NYSE: EQR) vs. Invitation Homes (NYSE: INVH)
Millionacres' Liz Brumer makes her choice between a provider of high-end apartments and a leaser of single-family homes in desirable neighborhoods.
Why it matters: These two companies serve a similar need and even demographic, but a look beneath their financial hoods helps show why one might be a better buy, at least for now.