Congress Needs to Help Renters & Property Owners Recover from COVID-19

The long-term strength of our nation's economy hangs in the balance as lawmakers decide how best to provide relief from coronavirus-related hardships. Thus far, Congress and the Administration have offered up several solutions to support economic prosperity and as they decide how best to proceed, it's our duty to make the small rental property owner's case. We know you take seriously the responsibility to ensure your residents have a safe and stable place to call home. That's why we are urging you to act now and voice the industry's concerns with Congress. Click here to take action TODAY!

The Coronavirus and You - the CDC's Fact Sheet

The Centers for Disease Control and Prevention (CDC) has put together a Coronavirus informational website for citizens to stay up to date and aware of the facts. As they state, there is an ongoing investigation to determine more about this outbreak. This is a rapidly evolving situation and information will be updated as it becomes available. Click here to read more.  

Coronavirus Looms Heavy Over the Housing Market

It is pretty apparent that the current situation our country is experiencing with the Coronavirus will affect the housing market. A recent Wall Street Journal article said the lowest mortgage rates on record are colliding with the prospect of an economic downturn and will ultimately set the stage for an unpredictable housing market this spring. Click here to read more.

Yardi Says Coronavirus Likely to Cause Technical Recession

According to the latest Yardi Matrix, rents increased 3.2% in February on a year-over-year basis, matching January's growth rate, as demand for multifamily has yet to feel any major impacts from the Coronavirus outbreak. However, they caution that the Coronavirus is likely to cause a technical recession. Click here to read more.

National Economic Outlook - March 2020

In their March National Economic Outlook, Local Market Monitor says recent events have already overtaken statistics (obviously). The spread of the corona virus is having dramatic effect on the US economy and the effects will be felt in real estate for some years. Click here to read more.

IRS to Delay Tax Payment Deadline 90 days

U.S. Treasury Secretary Steve Mnuchin said this week that taxpayers will get a 90-day extension to pay any income taxes they owe for 2019.  As reported by CNBC, Mnuchin said that as part of its coronavirus response, the federal government will give filers 90 days to pay income taxes due on up to $1 million in tax owed (up to $10 million for corporate filers). Click here to read more.

HUD to Suspend Evictions & Foreclosures for 60 Days  

In response to the unprecedented crisis gripping the nation, President Trump announced this week that he has directed the Department of Housing and Urban Development (HUD) to effectively suspend (via moratorium) evictions & foreclosures for the next 60 days. The moratorium on mortgages only applies to those backed by the FHA. Click here to read more.

Consumer Price Index Flat in February

Notwithstanding the current Coronavirus situation, the U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1% in February, the same as January. Click here to read more. 

Foreclosure Activity Up 13% in January

According to ATTOM Data's most recent Foreclosure Market Trends Report, there were just over 60k properties with foreclosure filings across America in January. This figure was 13% higher than December and 7% higher than one year ago. Click here to read more.