Fighting the uphill battle of reviving a weak housing market, the Federal Government is planning on stepping into the market with a creative solution – to turn foreclosed homes into rental units.
The plan would create roughly 200,000 new rental homes this year.
Though still in the works, the US government has indicated it plans to carry out the operation in “early 2012″. That’s a relatively specific guideline, all things considered.
Despite encouraging signs, the housing market is still not recuperating at a healthy pace. Home prices remain low, yet the buyers just aren’t there. But where one market drags, another one flourishes.
Rental properties are providing huge returns for those able to make the investment.
The price of rent has been increasing rapidly in cities all over the country. But the cities where demand has increased significantly are those with strong job markets. Cities on the coasts like Washington D.C., Boston, Los Angeles, and Seattle are seeing rent demand push prices up as they add more jobs.
Mortgage Finance Act of 2011 – legislation submitted by Sen. Johnny Isakson with little chance of passing congressional scrutiny; the act is, unfortunately, an example of political showmanship, appealing to public opinion on a critical policy issue. Furthermore, the Act clutters the congressional to-do list, regarding housing reform.
Make waves and the voters will take notice?
So, you’ve rented, and maybe you’ve already owned a home, but, you’re back on the renting side. Somewhere, deep down, you’re questioning the economics of this decision and trying to determine if you should make the plunge to become a homeowner. After all, isn’t that the American dream?
Not according to the census data, which has been continuing a trend towards renting since around 2004, and FannieMae’s recent research. Nearly all data points to the growing rental market and the declining home ownership market, which if you are a property manager is really nothing new. What I think IS new and not often seen here are some underlying factors that will keep this trend in a continual movement for quite some time, which is also represented in the FannieMae statistics.
We have printable receipts! High on the feature request list from many managers has been the need to print a receipt when accepting a payment in the office, as opposed to writing one out by hand. We of course agree… no one wants to write out receipts by hand. So, I am pleased to announce that in our lastest release, we’ve just launched this feature.
Printing receipts is very simple too, and can be done a couple ways…
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