Jason Lewris
@jasonlewris
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Looked at every on market single family home rental. Seeing ~150k actives today. Color coded them by price change since original list. Bright red = -25% price cut Bright green = +25 price increase White = no change Seeing a clear pattern in Atlanta. Rentals further out from downtown are likely having a tough time filling the units. A border around the metro appears to be forming with deep price reductions on active rental listings. Having studied this market extensively, these are most likely units held by mom and pop operators. Atlanta is the top institutional market in the country, however they own homes closest to the metro which doesn't appear to be exhibiting this pattern yet. The key thing to watch is whether this radius around the metro shrinks, and units closer to downtown start having trouble filling units. Denver was surprising. Seems pretty bullish and folks are actively raising SFH rental rates for on market listings. North East seems flat. Mostly white points suggesting teams aren't adjusting rates and are able to stir demand at current asking prices. North of downtown Houston seems to be having some trouble with current asking prices. Seeing some steep markdowns clustered in the northern part of the metro. Dallas seems like a tale of two. Fort Worth is having trouble with current asking rents while north and east of downtown Dallas seems fine and even increasing asking prices. Sources: @ParclLabs API for data @Mapbox for mapping/visualization tooling @openstreetmap for base mapping layers
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Context is everything.
DC Metro home prices up +9.1% YoY All DC housing must be ripping, right? Look closer... 🧵
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👀
Parcl Labs 🤝 @BusinessInsider Ever wonder what % of homes for rent are from accidental landlords... People who tried to sell, couldn't, and decided to rent instead? We partnered with @jamie_rod to shed light on this emerging trend 🧵
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@tierrapartners Great question and thank you! In this first version, we didn’t include any assumptions regarding taxes. A little more on the V1 methodology is here:
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LA City monthly mortgage payment costs vs. rental payment costs 👇
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You can track this as it happens for free. LA City Rentals 👇
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This inversion is clearly articulated when comparing monthly rental rates vs. monthly mortgage costs for LA City. You will note on Jan 13, these lines crossed and their gap has been growing over the remainder of the month.
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Beginning on Jan 7, rentals inflected up from an extended downward trend and that has persisted over the course of the rest of the month. Rents are up 2.4% in LA city over the course of Jan.
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We can see beginning Jan 7/Jan 8 a sharp decline in home values. Over the month home values are down 2.7%.
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🚢
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