Mold, asbestos, termites -- oh, my! Black Friday sales before Halloween; some unconventional wisdom on apartment rental rates; existing home sales rise in first month of fall; WeWork finally goes public.
Today on Millionacres
Forget Haunted Houses -- 3 Things Homebuyers Are Really Afraid of
While 'tis the season, no matter how you feel about haunted houses, one thing that's way scarier is buying a home with a host of issues that end up costing you a fortune.
The Millionacres takeaway: Whether you're a first-time homebuyer or a real estate investor looking to expand your portfolio of income properties, here are a few frightening problems -- courtesy of our Maurie Backman -- to avoid at all costs.
Black Friday Sales Are Coming Before Halloween: Good for Retail?
People have long complained about the way retailers sometimes rush the holidays. But this year, with serious concerns about whether the supply chain will be able to handle the demand, it's a case of the sooner, the better.
The Millionacres takeaway: It's beginning to look a lot like … go time! Our Nell McPherson explains why this early holiday cheer could be good for in-person retailers and their neighbors, like restaurants.
This Big Data Diver Says Apartment Rental Prices Are Actually Lagging
So, here's a stat that flies in the face of conventional wisdom around what's happening in the residential rental market: "The price of apartments has actually decreased by 2.3% since January."
The Millionacres takeaway: Since all real estate is local and all investment decisions are personal, data like this can help you follow your own hunches, which at this point might well focus on markets where populations are growing, along with rents. Supply and demand remains a dynamic as certain as gravity.
Also in Today's News
Existing Home Sales See 7.0% Ascent in September
The National Association of Realtors (NAR) said today that total existing-home sales -- completed transactions that include single-family homes, townhomes, condominiums, and co-ops -- rose 7.0% from August to a seasonally adjusted annual rate of 6.29 million in September.
The Millionacres takeaway: Year-over-year sales for the month were actually down 2.3%. NAR economist Lawrence Yun says demand remains strong as many buyers may be looking to nail down a deal before mortgage rates rise next year. Meanwhile, the median existing-home price rose from $311,500 to $352,800, the 115th straight month of year-over-year bumps.
WeWork Goes Public Via SPAC Merger, Begins Trading on NYSE
Will WeWork work as a public company? The co-working giant began trading on the New York Stock Exchange today, going public nearly two years after its disastrous first attempt led to the fall of its charismatic former CEO Adam Neumann and a fluctuating valuation, the Commercial Observer reports.
The Millionacres takeaway: There are mixed expectations about how this stock and company will fare in the long run. WeWork stock opened today at $10.38 and at 1:35 p.m. was up 11.66% at $11.60. Not bad for a day's co-work. But that's not even a full day.