Stimulus proposal contains eviction moratorium and rental help, December rent payments off to a slow start, regional variations in new home sizes, wide open spaces draw new residents, and Hawaii incentivizes WFH snowbirds with free flights.
In Today's News
Next Stimulus Package May Include Eviction Ban and $25B in Rental Aid
CNBC says a summary of the bipartisan legislation circulated Wednesday says it includes a national eviction moratorium until February 2021 and $25 billion in rental assistance for tenants who've fallen behind.
Why it matters: Rental assistance, it stands to reason, would benefit many of those tenants who also are protected by the moratorium. Ensuring the rent gets paid, meanwhile, would make for a happier holiday for many landlords of rental properties.
Early December Rent Collections Take a Tumble
In the first six days of December, which is generally a strong indicator of rent collections for the month, renters paid 75.4% of rent payments, a 7.8% decrease from the first six days in November, GlobeSt.com reports today.
Why it matters: One can hope this is an aberration and not the beginning of a long slide that's been long anticipated as joblessness persists, moratoriums and unemployment benefits expire, and the pandemic just gets worse.
When it Comes to Size: Region Matters
The National Association of Home Builders (NAHB) reports that regional differences in new home sizes exist, with some of the largest single-family spec homes built in the Mid-Atlantic and some of the largest custom homes built by contractors in the Mountain states.
Why it matters: Homebuilders are folks truly on the ground when it comes to knowing what their markets want, so this report could point the way for investors who are considering following suit.
Today on Millionacres
Luxury Markets Explode in Less Populated States
According to the Federal Housing Finance Agency's (FHFA) Housing Price Index Quarterly Report for Q3, Montana saw a 9.92% increase in housing prices from last year, putting it at number 6 on the state list. The top five states are Idaho (14.36%), Arizona (11.08%), Washington (10.8%), Utah (10.66%), and Tennessee (10.02%).
Why it matters: Millionacres' Barbara Zito takes that report and expands on how the higher end of the housing market is finding wide-open spaces, inside and out, in these states. Investors can look there to try to ride that wave.
Can Hawaii's New Remote Work Program Boost Its Vacation Rental Industry?
Hawaii needs bodies to stimulate its economy, so it's establishing what it calls a "Movers and Shakas" program that will offer free round-trip tickets to Oahu for out-of-state remote workers willing to live in the state for at least 30 consecutive days.
Why it matters: As Millionacres' Maurie Backman points out, people who no longer need to report to a physical office may find setting up shop in Hawaii to be an appealing notion. They'll need a place to stay, of course, and the success of this program could inspire that most sincerest form of flattery: imitation.