#rental-market

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#real-estate

NYC has more homes under construction than any other US city: Report

New York City leads the U.S. in apartment construction, with 33,000 new units expected by the end of 2024.

NYC metro area on pace to lead nation in new apartments constructed in 2024: report - QNS

New York City is set to lead U.S. cities in new apartment constructions in 2024 with over 32,000 rentals expected.
Brooklyn leads in new apartment completions, highlighting demand amid ongoing rental shortages in the city.

Tenants say Bay Area landlords colluded to inflate rents. Now, the Department of Justice is involved

The DOJ filed an antitrust lawsuit against RealPage for alleged collusion in raising rents among landlords through pricing software.

California Joins DOJ Antitrust Lawsuit, Alleges Price-Fixing Software Drives Up Rent | KQED

The Department of Justice and multiple states have filed an antitrust lawsuit against RealPage for allegedly facilitating illegal rent increases by landlords.

DOJ thumps RealPage with another antitrust lawsuit over AI-driven rent pricing

The DOJ is pursuing antitrust cases against RealPage for enabling rent inflation via its software.

A trio of 20-something finance bros avoid paying high rents for sad NYC studios - and instead split a $15K/month penthouse

Three friends opted to share a luxury penthouse duplex in the LES rather than rent individual studios, leveraging their high salaries for a better living arrangement.

NYC has more homes under construction than any other US city: Report

New York City leads the U.S. in apartment construction, with 33,000 new units expected by the end of 2024.

NYC metro area on pace to lead nation in new apartments constructed in 2024: report - QNS

New York City is set to lead U.S. cities in new apartment constructions in 2024 with over 32,000 rentals expected.
Brooklyn leads in new apartment completions, highlighting demand amid ongoing rental shortages in the city.

Tenants say Bay Area landlords colluded to inflate rents. Now, the Department of Justice is involved

The DOJ filed an antitrust lawsuit against RealPage for alleged collusion in raising rents among landlords through pricing software.

California Joins DOJ Antitrust Lawsuit, Alleges Price-Fixing Software Drives Up Rent | KQED

The Department of Justice and multiple states have filed an antitrust lawsuit against RealPage for allegedly facilitating illegal rent increases by landlords.

DOJ thumps RealPage with another antitrust lawsuit over AI-driven rent pricing

The DOJ is pursuing antitrust cases against RealPage for enabling rent inflation via its software.

A trio of 20-something finance bros avoid paying high rents for sad NYC studios - and instead split a $15K/month penthouse

Three friends opted to share a luxury penthouse duplex in the LES rather than rent individual studios, leveraging their high salaries for a better living arrangement.
morereal-estate
#affordable-housing

Crown Heights Affordable Housing Lottery Lists Units Less Than $500

Affordable housing lotteries are crucial in NYC's rental market.
The Crown Heights lottery offers units significantly below the area's average rents.
Eligibility spans a wide income range with various preferences for applicants.

Affordable Housing Lottery Opens in Gowanus With $888 Units

Affordable housing lottery opens for Gowanus building with 50 rent-stabilized units in a rezoned area, promoting accessibility for varying income levels.

America's housing crisis is at the heart of the economic pessimism affecting this election

Affordable rentals are increasingly seen as impossible to find, reflecting deep-seated stress and anxiety in today's housing market.

Believe It! Units Below $1K Are Available In This Harlem Affordable Housing Lottery

New York's high rent prices lead many to seek affordable housing options eagerly, especially with recent opportunities like those in Harlem.

Affordable housing lottery opens on Upper East Side with one bedrooms starting at $1,667 | amNewYork

Affordable housing lottery on Upper East Side offers units for 70-130% AMI households.
Rents range from $1,655 to $4,020 for 28 available units.
Application deadline for the lottery is September 30, 2024.

Canada added record rental supply in 2024, but most units were too pricey for the average renter | CBC News

Rent growth has slowed due to increased rental supply, but affordability is still a major issue for Canadian renters.

Crown Heights Affordable Housing Lottery Lists Units Less Than $500

Affordable housing lotteries are crucial in NYC's rental market.
The Crown Heights lottery offers units significantly below the area's average rents.
Eligibility spans a wide income range with various preferences for applicants.

Affordable Housing Lottery Opens in Gowanus With $888 Units

Affordable housing lottery opens for Gowanus building with 50 rent-stabilized units in a rezoned area, promoting accessibility for varying income levels.

America's housing crisis is at the heart of the economic pessimism affecting this election

Affordable rentals are increasingly seen as impossible to find, reflecting deep-seated stress and anxiety in today's housing market.

Believe It! Units Below $1K Are Available In This Harlem Affordable Housing Lottery

New York's high rent prices lead many to seek affordable housing options eagerly, especially with recent opportunities like those in Harlem.

Affordable housing lottery opens on Upper East Side with one bedrooms starting at $1,667 | amNewYork

Affordable housing lottery on Upper East Side offers units for 70-130% AMI households.
Rents range from $1,655 to $4,020 for 28 available units.
Application deadline for the lottery is September 30, 2024.

Canada added record rental supply in 2024, but most units were too pricey for the average renter | CBC News

Rent growth has slowed due to increased rental supply, but affordability is still a major issue for Canadian renters.
moreaffordable-housing
#minimum-wage

Best US cities for renters as minimum wages rise and cost of housing falls

Rents across the US declined in November, providing relief to renters, especially minimum wage earners, amid ongoing affordability challenges.

Here's Where Minimum-Wage Workers Can Actually Afford Rent

American renters, especially those earning minimum wage, struggle to find affordable housing, often needing to spend more than 30% of their income on rent.

The Most Affordable Cities for Minimum-Wage Renters Will Surprise You (I Want to Move to Number 4!)

Housing affordability remains out of reach for minimum-wage workers in all major U.S. cities, highlighting a growing crisis in rental markets.

Best US cities for renters as minimum wages rise and cost of housing falls

Rents across the US declined in November, providing relief to renters, especially minimum wage earners, amid ongoing affordability challenges.

Here's Where Minimum-Wage Workers Can Actually Afford Rent

American renters, especially those earning minimum wage, struggle to find affordable housing, often needing to spend more than 30% of their income on rent.

The Most Affordable Cities for Minimum-Wage Renters Will Surprise You (I Want to Move to Number 4!)

Housing affordability remains out of reach for minimum-wage workers in all major U.S. cities, highlighting a growing crisis in rental markets.
moreminimum-wage
#real-estate-trends

Queens, Brooklyn and Manhattan experiencing more competition in rental market: report - QNS

Competition for rentals in Queens and Brooklyn surged in summer 2024, emulating Manhattan's tight market due to limited new units and high lease renewals.

The best boroughs to live in NYC - based on your salary

New York City's median rent continues to rise, reflecting a strong rental market despite varying affordability across different areas.

Brooklyn Home Prices Keep Climbing as Rents Drop

Home prices in Brooklyn continue to rise despite fewer sales, while rental prices have decreased slightly, offering some relief to renters.

Bay Area Rents Are Cooling. That Might Help College Grads | KQED

Recent college grads in the Bay Area find rentals slightly more affordable, but true housing affordability remains a significant challenge.

CoreLogic: Single-family rent growth drops to four-year low point

Single-family rental properties in the U.S. experienced a slowdown in rent-price growth, posting an annual increase of 2% in September 2024.

15 Cities Where You Can Find a Rental for Under $1,500 a Month

Affordable rental options are available in several U.S. cities with median rents below $1,500, despite overall price increases.

Queens, Brooklyn and Manhattan experiencing more competition in rental market: report - QNS

Competition for rentals in Queens and Brooklyn surged in summer 2024, emulating Manhattan's tight market due to limited new units and high lease renewals.

The best boroughs to live in NYC - based on your salary

New York City's median rent continues to rise, reflecting a strong rental market despite varying affordability across different areas.

Brooklyn Home Prices Keep Climbing as Rents Drop

Home prices in Brooklyn continue to rise despite fewer sales, while rental prices have decreased slightly, offering some relief to renters.

Bay Area Rents Are Cooling. That Might Help College Grads | KQED

Recent college grads in the Bay Area find rentals slightly more affordable, but true housing affordability remains a significant challenge.

CoreLogic: Single-family rent growth drops to four-year low point

Single-family rental properties in the U.S. experienced a slowdown in rent-price growth, posting an annual increase of 2% in September 2024.

15 Cities Where You Can Find a Rental for Under $1,500 a Month

Affordable rental options are available in several U.S. cities with median rents below $1,500, despite overall price increases.
morereal-estate-trends
#economic-trends

NYC rent continues to rise: Here's how much you need to earn to leave in each borough

New York City's rental market remains competitive and increasingly costly, with rents rising despite broader trends of decline elsewhere.

Rents Fall for the 15th Month in a Row-and the South Becomes Even Friendlier to Renters

Rent prices continue to decrease, with a median asking rent at $1,720, marking the 15th consecutive month of declines.

Rent rises slow, offering hope to beleaguered tenants

Tenants finally experience relief as rental growth slows to 3.9%, the lowest since August 2021, amid regional differences in rent increases.

NYC rent continues to rise: Here's how much you need to earn to leave in each borough

New York City's rental market remains competitive and increasingly costly, with rents rising despite broader trends of decline elsewhere.

Rents Fall for the 15th Month in a Row-and the South Becomes Even Friendlier to Renters

Rent prices continue to decrease, with a median asking rent at $1,720, marking the 15th consecutive month of declines.

Rent rises slow, offering hope to beleaguered tenants

Tenants finally experience relief as rental growth slows to 3.9%, the lowest since August 2021, amid regional differences in rent increases.
moreeconomic-trends
#new-york-city

New York City Rents Are Still Rising: Here's How Much You Need To Earn To Snag an Apartment in Each Borough

New York City's rental market remains competitive with rising median rents, significantly above national averages, and high percentages of income spent on rent.

The Feds Are Coming for the Secret Tool Landlords Use to Keep Rents High

The DOJ lawsuit alleges RealPage helps landlords collude to raise rents using sophisticated management software.

Where New Yorkers Can Afford To Rent a Home-Based On How Much They Earn

New York City's rental market has rebounded post-pandemic, with median rents now exceeding pre-pandemic levels by 13.7%.
Manhattan has seen a decline in rents for the 13th consecutive month, although it remains the most expensive borough.

Bill to End Forced Rental Broker Fees Goes to Council Vote

Tenants in NYC may no longer be responsible for paying broker fees due to new legislation that shifts that burden to landlords.

This is how much $1,500 gets you for an apartment in Manhattan

Living in New York City is incredibly expensive, with $1,500 only providing small living spaces.

Should Boston ban broker fees for renters? Let us know.

New York City Council eliminated tenant broker fees, reducing rental costs for tenants and marking a pivotal change in real estate practices.

New York City Rents Are Still Rising: Here's How Much You Need To Earn To Snag an Apartment in Each Borough

New York City's rental market remains competitive with rising median rents, significantly above national averages, and high percentages of income spent on rent.

The Feds Are Coming for the Secret Tool Landlords Use to Keep Rents High

The DOJ lawsuit alleges RealPage helps landlords collude to raise rents using sophisticated management software.

Where New Yorkers Can Afford To Rent a Home-Based On How Much They Earn

New York City's rental market has rebounded post-pandemic, with median rents now exceeding pre-pandemic levels by 13.7%.
Manhattan has seen a decline in rents for the 13th consecutive month, although it remains the most expensive borough.

Bill to End Forced Rental Broker Fees Goes to Council Vote

Tenants in NYC may no longer be responsible for paying broker fees due to new legislation that shifts that burden to landlords.

This is how much $1,500 gets you for an apartment in Manhattan

Living in New York City is incredibly expensive, with $1,500 only providing small living spaces.

Should Boston ban broker fees for renters? Let us know.

New York City Council eliminated tenant broker fees, reducing rental costs for tenants and marking a pivotal change in real estate practices.
morenew-york-city

She gave her drab L.A. apartment a stunning makeover for $2,500

Mary Kenny creatively transforms her small apartment with secondhand items, showcasing her unique design style and humor amid rental market challenges.
#tenant-rights

Tenants question whether Ontario's Landlord and Tenant Board timelines are actually improving | CBC News

The Ontario LTB has reduced hearing times for non-payment of rent applications but tenants still face significant delays compared to official estimates.

I wanted both sides of the business to be as intimate as being in bed': tech entrepreneur William Reeve

Reeve's experiences as an accidental landlord provide insights into the current rental market challenges, emphasizing tenant rights and conditions amid rising rents.

Tips and Pitfalls When Drafting and Serving a Three-Day Notice to Pay - Bay Area Real Estate Law Blog

COVID-19 protections for tenants have ended, reinstating landlords' rights to enforce rent payment and eviction processes.

Tenants living in Ballsbridge apartment ordered to pay 35,000 in rent arrears

Tenants were ordered to pay €35,000 in arrears after struggling to find alternative housing.
The case highlights challenges in Dublin's rental market and affordability issues.

Tenants question whether Ontario's Landlord and Tenant Board timelines are actually improving | CBC News

The Ontario LTB has reduced hearing times for non-payment of rent applications but tenants still face significant delays compared to official estimates.

I wanted both sides of the business to be as intimate as being in bed': tech entrepreneur William Reeve

Reeve's experiences as an accidental landlord provide insights into the current rental market challenges, emphasizing tenant rights and conditions amid rising rents.

Tips and Pitfalls When Drafting and Serving a Three-Day Notice to Pay - Bay Area Real Estate Law Blog

COVID-19 protections for tenants have ended, reinstating landlords' rights to enforce rent payment and eviction processes.

Tenants living in Ballsbridge apartment ordered to pay 35,000 in rent arrears

Tenants were ordered to pay €35,000 in arrears after struggling to find alternative housing.
The case highlights challenges in Dublin's rental market and affordability issues.
moretenant-rights
#housing-crisis

Why tourism has become such an issue for us Spaniards | Letter

Tourism in Spain is leading to a housing crisis, displacing locals and driving up rental prices disproportionately affecting community stability.

On Luxurious Ibiza, Essential Workers Are Forced to Live in Tent Cities

Alicia Bocunano exemplifies the struggles of essential workers in Ibiza's housing crisis, forced into temporary settlements due to high rental demands.

Call for ban on rental property 'bidding wars'

Southwark Council seeks to ban exploitative bidding wars in rental markets to protect tenants amid high rental costs and a housing crisis.

Single parents bear the brunt of the rental crisis in regional Victoria

Single parents in regional Victoria face significant challenges in the rental market due to unfair application dismissals and limited housing availability.

Why tourism has become such an issue for us Spaniards | Letter

Tourism in Spain is leading to a housing crisis, displacing locals and driving up rental prices disproportionately affecting community stability.

On Luxurious Ibiza, Essential Workers Are Forced to Live in Tent Cities

Alicia Bocunano exemplifies the struggles of essential workers in Ibiza's housing crisis, forced into temporary settlements due to high rental demands.

Call for ban on rental property 'bidding wars'

Southwark Council seeks to ban exploitative bidding wars in rental markets to protect tenants amid high rental costs and a housing crisis.

Single parents bear the brunt of the rental crisis in regional Victoria

Single parents in regional Victoria face significant challenges in the rental market due to unfair application dismissals and limited housing availability.
morehousing-crisis
#housing-affordability

DOJ Sues RealPage, Alleges Harm to Millions of Renters | Entrepreneur

The DOJ sued RealPage for reducing competition and inflating rents through a controversial pricing algorithm that facilitates collusion among landlords.

The states where rent is going up the fastest - and the slowest

Nearly half of renter households spent over 30% of income on housing in 2023.
Median housing costs rose to $1,406, with significant increases in certain states.
States like Maine, New Mexico, and Utah saw the largest rent increases.

Rents went up just 2.1% in September, continuing monthly price slowdown | CBC News

Average asking rents across Canada are growing at their slowest pace since 2021, significantly influenced by declining foreign student enrolments.

How investors are about to profit from a tidal wave of new homes

Homebuilders are struggling with a surplus of unsold homes amid rising prices and increasing interest rates.

DOJ Sues RealPage, Alleges Harm to Millions of Renters | Entrepreneur

The DOJ sued RealPage for reducing competition and inflating rents through a controversial pricing algorithm that facilitates collusion among landlords.

The states where rent is going up the fastest - and the slowest

Nearly half of renter households spent over 30% of income on housing in 2023.
Median housing costs rose to $1,406, with significant increases in certain states.
States like Maine, New Mexico, and Utah saw the largest rent increases.

Rents went up just 2.1% in September, continuing monthly price slowdown | CBC News

Average asking rents across Canada are growing at their slowest pace since 2021, significantly influenced by declining foreign student enrolments.

How investors are about to profit from a tidal wave of new homes

Homebuilders are struggling with a surplus of unsold homes amid rising prices and increasing interest rates.
morehousing-affordability

Rents set to roar back as apartment demand surges after building boom

Rising demand for rentals and decreasing vacancy rates could empower landlords to increase rents significantly next year.
#housing-policy

Rental housing advocate David Howard talks national policies ahead of 2024 election

The rental market's evolution is related to housing policy discussions, especially in light of the upcoming presidential election.

Government reviewing 800 payment for Ukrainian refugee hosts after criticism that it's 'unfair' on other renters

The €800 monthly payment for accommodating Ukrainian refugees is under review due to fairness concerns for other renters in the market.

Rental housing advocate David Howard talks national policies ahead of 2024 election

The rental market's evolution is related to housing policy discussions, especially in light of the upcoming presidential election.

Government reviewing 800 payment for Ukrainian refugee hosts after criticism that it's 'unfair' on other renters

The €800 monthly payment for accommodating Ukrainian refugees is under review due to fairness concerns for other renters in the market.
morehousing-policy
#housing-costs

You need to make $123,269 a year not to be 'rent burdened' here

BIPOC households in metro Boston spend 41% of income on rent, compared to 33.5% for white households.

Ask Our Chief Economist: What Is a Rent Concession? How to Ask, Negotiate, and Save on Your Next Apartment

Rent concessions can reduce immediate housing costs for renters but may lead to higher renewal costs.
Landlords often offer concessions during periods of low demand to fill vacancies quickly.

You need to make $123,269 a year not to be 'rent burdened' here

BIPOC households in metro Boston spend 41% of income on rent, compared to 33.5% for white households.

Ask Our Chief Economist: What Is a Rent Concession? How to Ask, Negotiate, and Save on Your Next Apartment

Rent concessions can reduce immediate housing costs for renters but may lead to higher renewal costs.
Landlords often offer concessions during periods of low demand to fill vacancies quickly.
morehousing-costs

Pet Turf? In-Unit Laundry? Which Amenities Do Renters Really Want?

Renters prioritize practical amenities, such as parking and laundry, over luxury features according to Zillow's analysis.
Basic amenities drive higher engagement on rental listings, while luxury features deter interest.

Rental Competition: Not Just a New York Thing

Chicago's rental market is more competitive than New York's, with rising demand and limited supply leading to bidding wars.

Budget a 'chance wasted to prevent mass exodus of landlords'

Landlords are leaving the market due to tax regulations, and measures like tax relief are needed to encourage their retention.

Invitation Homes to settle FTC claims of unfair rental practices for $48M

Invitation Homes will pay $48 million and reform practices after FTC settlement for deceptive rental practices.

House prices rising for first time in two years, survey suggests

House prices are showing signs of recovery, with a net increase reported for the first time since October 2022.

Bill to ban England and Wales landlords from rental bidding wars

The UK government has introduced a ban on landlords renting properties for more than the advertised price to combat rising rental prices and bidding wars.
#legislation

SF poised to beat DOJ to the punch, ban rent-fixing software

San Francisco is experiencing high rental prices despite losing residents, prompting legislation against algorithmic rent-setting.

The Latest Frontier in Housing Inequity? Pet Friendliness.

Pet-friendly luxury apartments are abundant, but nonluxury rentals often have restrictions and additional fees for pets, contributing to housing inequity.

Hoping to cut San Francisco rents, supervisors approve software-pricing ban

San Francisco Board of Supervisors approved banning rental price algorithm software to potentially lower rental costs.

SF poised to beat DOJ to the punch, ban rent-fixing software

San Francisco is experiencing high rental prices despite losing residents, prompting legislation against algorithmic rent-setting.

The Latest Frontier in Housing Inequity? Pet Friendliness.

Pet-friendly luxury apartments are abundant, but nonluxury rentals often have restrictions and additional fees for pets, contributing to housing inequity.

Hoping to cut San Francisco rents, supervisors approve software-pricing ban

San Francisco Board of Supervisors approved banning rental price algorithm software to potentially lower rental costs.
morelegislation
#antitrust

The DOJ files an antitrust lawsuit against a software company for allegedly manipulating rent prices

RealPage is accused of using algorithms to manipulate rent prices and limit competition in the rental market, according to an antitrust lawsuit filed by the DOJ.

How RealPage transformed the apartment rental market

RealPage is accused of inflating rents and holding a monopoly in the rental data market, despite its claims to help efficiency in pricing.

The DOJ files an antitrust lawsuit against a software company for allegedly manipulating rent prices

RealPage is accused of using algorithms to manipulate rent prices and limit competition in the rental market, according to an antitrust lawsuit filed by the DOJ.

How RealPage transformed the apartment rental market

RealPage is accused of inflating rents and holding a monopoly in the rental data market, despite its claims to help efficiency in pricing.
moreantitrust

The 'rent-first' lifestyle is catching on. From cars to clothes and even caskets, here's when it makes sense to buy vs. rent

More Americans are choosing to rent rather than buy due to affordability and lifestyle preferences.
from The Atlantic
4 months ago

Is Your Rent an Antitrust Violation?

RealPage's algorithmic pricing strategy may lead to price-fixing without traditional collusion, resulting in higher rents and reduced market competition.

AI demand is fueling a DC development boom in North America

The construction of datacenters is surging due to AI demand, but supply issues and high demand are causing delays and driving up rental prices.

Red-hot rent rises cool but tenants still struggling

The rental market is cooling, but tenants still face rising costs and affordability issues.

Investors are quietly scooping up 1 in every 6 single-family homes in these cities

Investors are capitalizing on strong rental demand despite high home prices and interest rates.
Investors purchased one in every six homes in the second quarter, totaling $43 billion.

Rental market update (August edition). Where are prices falling?

Boston's rental market prices are up $300 since New Year's Day, but down 5% year-over-year.

Rents are still rising across Canada, but at the slowest rate in 2 and a half years | CBC News

Rents in Canada are increasing at a slower pace, with some provinces experiencing unexpected declines while others see significant jumps, especially in secondary markets.

Maximize the summer surge in unconventional ways

Rental market momentum expected to peak in summer due to relocation desires and supply influx.

UK house prices rise for the first time in a year, new ONS figures reveal

House prices in Britain rose 1.8% in the 12 months to March, with growth in every region except London and the South East.
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