Will Parker

speaker

780 appearances 18 recordings 1 series first heard May 2019 last heard Nov 2024

Will Parker’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Rents Are Up More Than 10% in the Past Year · 3 Aug 2021 podcast

Many landlords will continue to work with tenants, but there's no law that's really creating a situation where they have to do things like that. matched

Thanks for having me. matched

So there are a few things that are going in the favor of landlords right now. matched

One is that there have been places where more jobs are being created, where younger people are going back to cities to rent apartments, especially those who had gone home to live with parents. matched

And you have a for sale housing market that is still on fire around most of the country. matched

And for people who have higher incomes that would usually buy, a lot of them are having to rent. matched

So these are some of the factors that are really helping to push rents higher right now. matched

Yeah, so during the pandemic, especially early on when there was little investment activity in the apartment business, one area that you did still see a lot of interest was in suburban areas and the idea that these areas outside of cities were becoming more popular with those leaving urban areas during the pandemic. matched

And as well as smaller cities, especially places in the south and southwest that we're seeing a lot of interest in apartments there, that's still happening. matched

There's a question of how long the trend of money moving, investment moving to buildings and suburbs and the Sun Belt will keep going. matched

But for now, that's certainly one of the major trends. matched

It's happening less and less, especially in large coastal cities where these deal sweeteners were the most common. matched

So, you know, it wasn't that long ago, earlier this year, you were still seeing in New York at, you know, fancy higher end rental buildings, things like three months free of rent. matched

What a lot of these large apartment landlords that were offering a lot of these sweeteners have been saying recently is that they've been winding down matched

Those deals, as rents start to go back up, occupancy starts to go back up, and they can start charging rents that are closer to what they were used to charging before the pandemic. matched

So what happened late last week is the White House said that the CDC, which had initially put the eviction moratorium in place, no longer had the authority to do it again, to extend it again. matched

They cited a Supreme Court ruling on the matter that threw the CDC's ability to do that into question. matched

You had Democrats and Congress who were now being told that it was up to them to pass the extension. matched

Some of those Democrats, you know, disagreed with the White House's stance that they could not do it themselves. matched

But ultimately, the lawmakers and Congress were not able to come up with an agreement in time whatsoever. matched

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