Rent Prices in Worcester up 50% in the last year- Agents say
Monday, July 25
Very interesting article here about rents in Worcester. https://drive.google.com/file/... There are definitely people who have had their rents go up by 50% in Worcester in the last year. Say your rent was $1000 for a 3 BR unit with parking. The jump to $1500 doesn't even get you to market rent f...
People are backing out of House contracts!! Watch out
Monday, July 25
Interesting stats here from Redfin.I think Redfin and Zillow do a great job at statistics and with their websites, but I wouldn't recommend using their agents.60,000 home purchase deals fell through in June!!!!! that is almost 15% of all homes that were under contract.WOW WOW WOWIt appears that t...
Small Business Rent- used car bubble and Auto Repossessions
Monday, July 25
I was reading an article last week about small businesses. Scary statistic here: 33% of all US small businesses could not pay May rent in full and on time, up from 28% in April. Does that get you scared? I was told by Janet Yellen that we did not have signs of a recession. What are the signs o...
Demand is going down as buyers leave the market
Wednesday, July 06
Quick article here from CNBChttps://www.cnbc.com/2022/07/0...Basically Mtg rates are falling, but that is not keeping buyers in the market.It is an odd market right now.6 months ago I used to go to an open house on a Saturday and it was mobbed, today I am the only person there.Sellers used to get...
Rental Affordability in Worcester, MA
Tuesday, July 05
I was reading an article in the Worcester Business Journal and came across this statistic. In 7 of the 9 zip codes in Worcester, the Median income is lower than what's needed in order to afford a 2 BR apartment, meaning 1/2 of the citizens cannot afford market rates. I have been saying this for a...
Reduce inflation, Have Student loan Buyers start paying again
Tuesday, July 05
I feel like I am beating a dead horse here (I'm sure that this is offensive to say) but borrowers need to start paying their student loans. All federal student loans have been in Forbearance since March of 2020 and they are set to start paying on August 31, 2022. PLEASE START PAYING. We are hav...