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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WSJ Your Money Briefing · Suburban Rents Climbing Due to Exodus from Cities · 11 Nov 2020 podcast

They even build new houses. voice-verified

American Homes for Rent has been one of the busiest builders of homes, you know, this year. voice-verified

And they build houses specifically to rent out. voice-verified

The target is basically somebody who would have been looking to buy a house, you know, a generation ago. voice-verified

These are high earning people. voice-verified

They're usually parents. voice-verified

They want space for kids. voice-verified

They want a home office. voice-verified

They want a yard for the pets. voice-verified

And they're typically people in their like late 30s, early 40s, sort of the upper end of the millennials. voice-verified

And there's a lot of younger millennials starting families and coming behind them. voice-verified

So these companies own homes primarily in the Sunbelt, around Sunbelt City. voice-verified

So anywhere from California, around Los Angeles and the Bay Area, down into the desert cities. voice-verified

Las Vegas and Phoenix are big areas for this. voice-verified

The big cities in Texas, Atlanta, Florida, up into the Carolinas. voice-verified

Those are the primary markets. voice-verified

Now, we are seeing rents raise also in middle America, places like Kansas City, Minneapolis, Memphis, Birmingham, Alabama. voice-verified

So it's not totally confined to sort of the Sunbelt states or what some people call the smile states, which kind of gets you up more also up into Seattle, which is a hot market for these companies. voice-verified

Well, the big companies that own tens of thousands of houses, they're raising rents faster than they ever have in their sort of short history. voice-verified

We're looking at like 7%, 7.5% month over month, which doesn't sound like a lot, but it is. voice-verified

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