New Property Management News
Enjoy our latest look at the notable news stories in property management.
New York leads all U.S. metro areas as the largest net loser with 277 people moving every day — more than double the net exodus of 132 just one year ago.
https://www.bnnbloomberg.ca/more-people-are-leaving-nyc-daily-than-any-other-u-s-city-1.1308635
Texas Property Tax Cut goes to a vote in early November.
https://www.texastribune.org/2023/07/27/texas-property-tax-cuts-explained/
Florida community hit hard by rise in insurance premiums as insurance companies flee the state.
https://finance.yahoo.com/news/protest-broke-55-florida-community-193758949.html
Mortgage Rates hit 22 year high this week, to 7.23% this week, up from last week’s 7.09%, — Freddie Mac.
https://finance.yahoo.com/news/mortgage-rates-surge-to-22-year-high-160008290.html
New multifamily development in the works in Myrtle Beach
Foreign buyers are bailing out of the U.S. housing market (investment down 14%)
Foreign buyers are bailing on the U.S. housing market. Here’s why (cnbc.com)
Los Angeles landlords exhausted by continuous restrictions
https://finance.yahoo.com/news/mortgage-rates-surge-to-22-year-high-160008290.html
Wallethub’s report on the best real estate markets to invest in includes Texas, North Carolina, Tennessee, Florida and Arizona. The best major city: Nashville TN.
https://wallethub.com/edu/best-real-estate-markets/14889
Evictions Grow in Nevada as affordable housing market deteriorates. North Las Vegas Justice Court has seen 7,428 eviction filings as of June.
https://lasvegasweekly.com/news/2023/aug/17/tenant-turmoil-evictions-pile-up-housing-worsens/
Nashville market sees a decline in new multifamily development.
NAHB: Multifamily market shows continued strength (Multifamily Production Index (MPI) at 56 and the Multifamily Occupancy Index (MOI) reading was 89.)
Biggest apartment construction boom in decades likely to bring renters uneven relief
See more on what landlords are looking for in a property management service firm.
NMHC’s OPTECH Conferences 2023 happens November 1st to 3rd in Las Vegas, Nevada. We’ll be there and hoping to meet with you at our exhibition booth. Learn more about the National Multifamily Housing Council. ManageCasa is continuously exhibiting at major conferences. Find out more about events near you.
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