Million-dollar homes target of buying sprees, what that'll get you in California, and the eyes of Texas are upon Austin. Plus, FHA raises limits, and Dollar General's on a building binge.
In Today's News
Million-Dollar Homebuying Soars With Rich Americans on Shopping Binge
Bloomberg reports today that wealthy Americans, largely untouched by the recession and eager for more living space, have been on a homebuying binge.
Why it matters: The article says demand for million-dollar homes is growing faster than any other price tier in the pandemic-driven U.S. housing boom, which points to opportunity for some high-priced flips if the price and location is right.
$1.6 Million Homes in California
This New York Times piece showcases three very different homes in different cities in the Golden State that share one thing: the price tag.
Why it matters: No matter how desirable a place is, if you can't afford to live there (or provide jobs that pay enough for people to live there), eventually a lot of folks will just have to look elsewhere. Like, maybe, in Texas...
Remote Work Makes Austin a Magnet for New Jobs
The pandemic and the prospect of working remotely have spawned an exodus from New York and San Francisco to sunnier, more-affordable cities. Few have benefited more than Austin, The Wall Street Journal reports today.
Why it matters: With new jobs comes new demand for residential real estate. This is an interesting read on why the Texas capital might be just the place for your capital, too.
Today on Millionacres
FHA Loan Limits for 2021: Here's What Investors Need to Know
HUD is raising the 2021 limits for FHA-backed home loans in 3,108 counties in the U.S., potentially making it easier for investors to include one in their portfolio plans this year.
Why it matters: As Millionacres' Aly Yale points out, if you're investing in new properties in 2021, take note of these new FHA loan limits. With home prices expected to continue rising, these new ceilings could help you stay competitive with access to affordable financing and low interest rates.
Are Dollar General's Expansion Plans Good News for Retail REITs?
Dollar General (NYSE: DG) has unveiled plans to open 1,050 new stores while renovating another 1,750 locations and relocating 100 other stores, all in 2021. That's after doing much of the same this year.
Why it matters: Millionacres' Matthew DiLallo takes a look at three real estate investment trusts (REITs) that have significant stakes in the ubiquitous discount retailer and why they might merit investor attention as well.