Ryan Dezember
speaker
644 appearances
11 recordings
1 series
first heard May 2018
last heard Jun 2024
Ryan Dezember’s voice in public audio — every appearance, attributed to the second.
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Appearances
The pandemic has really accelerated all that.
People who are working from home are looking at wanting an extra bedroom so they can build a home office.
They want a yard for the kids and the dog to play in, space from their neighbors because they're home all day, maybe a proper kitchen and dining room that their apartment didn't have.
So home rentals have been extremely hot.
The big home rental companies like Invitation Homes and American Homes for Rent and Tricon Residential, which own, you know, tens of thousands of homes apiece, they're all reporting record occupancy lately.
They are raising rents on new leases faster at a greater rate than they ever have before.
And they're really having a hard time keeping up with demand for rental homes.
Well, the big issue is, like you said, mortgage rates last week hit a new record low of around, I think it was 2.65.
We've never really seen anything like that.
That's enabling a lot of people to buy homes, of course, and encouraging them to buy.
The problem for many people is they don't have the down payment.
There's also a lot of other people these days that don't want to buy a house.
There's a lot of people who move around a lot for their jobs, much more than we used to as Americans.
There's also millennials who are sort of testing out the suburbs before buying, moving out of cities, establishing families, but maybe not yet ready psychologically or financially to buy.
Another big component is what people are starting to call the baby chasers.
And those are generally baby boomers who are following their children around as they move from town to town, following their jobs and their careers so that they can be near the grandchildren.
And those people are really a big target market for home rental companies and developers.
You know, the demand for homes is so strong that prices are rising faster than they have at any time since, you know, before last decade's housing crash.
Now, what that's doing is, one, it's pricing out some folks who might want to buy.
And others, it might be spooking them, right?
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