32% of Workers are running out of Money between Paychecks!
Thursday, October 20
Just saw this statistic. 32% of Workers are running out of money between paychecks. This includes workers making over $100k This seems crazy, but the recession is coming. The FED and Congress flooded the economy with "Helicopter Money" and this temporarily made people comfortable. Now those sam...
I'm a bad guy when I buy less house than I can afford. Who knew.
Monday, October 17
In my last blog I spoke about "Down Renting" and how it has the unintended consequence (takes away) of raising rents. The same is true in home purchases. Typically they say you can purchase a house worth 2.5-3 X your annual income When you make $200k a year as a household you have the opportunit...
"Down Renting" reducing the supply of affordable rentals in Worcester
Monday, October 17
This is a wonderful article shared with my by a colleague yesterday. https://docs.google.com/docume... 2 big takeaways here: 1. Artificial Intelligence and huge amounts of data can help Landlords to maximize rental income. The software in question here "Real Page" takes tons of data and helps ...
Zombie Family Budgets
Wednesday, October 12
Here is a great commentary/editorial by Hans G. Despain of Nichols College 9/16/22 from the T&G https://drive.google.com/file/... some scary statistics: 60% of American Workers make $37,499 or less per year 47% of American Workers make less than $27k 16% of American businesses are "Zombie" f...
The Sellers are always the last to get the memo
Wednesday, October 12
You can see and feel the multifamily market falling in Worcester (except for outlier properties that are in Single Family neighborhoods). But when you look on the MLS the prices look the same. Part of this has to do with the still low inventory. There are only 62 multis for sale as of the writi...
A Housing Recession has arrived- Article review
Friday, September 30
This author believes the slide in home prices has started. We are WorcesterMulti agree. https://www.newsbreak.com/news... They believe a 20% decline in prices will occur due to increases in interest rates. Since a 1% increase in interest rates is supposed to drop prices by 10% this seems reason...