Housing Shortages and Immigration Booms Are Colliding
On today’s Big Take podcast: What happens when rapid immigration meets slow housing production.
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On today’s Big Take podcast: What happens when rapid immigration meets slow housing production.
Zillow Group Inc. shares fell after the real estate company published a second-quarter outlook that called for lower revenue in its core business and predicted stalling growth in the broader US housing market.
A new report from TD Economics says the federal government’s ambitious housing plan faces supply-side capacity constraints and demand measures that are not expected to have a significant impact.
An unprecedented contest is underway in Mexico over the future of one of the top beneficiaries of the factory boom south of the US border.
The Calgary Real Estate Board says April home sales were up 7.3 per cent from last year, driven by growth in the number of relatively more affordable, higher-density properties changing hands.
Nov 1, 2021
Bloomberg News
,(Bloomberg) -- Investors are pouring record levels of money into manufactured housing, seeking stability and yield as the need for affordable living options increases across the U.S.
Jones Lang LaSalle Inc. projects investment volume of $4.5 billion in mobile-home communities in the third quarter -- an all-time high on a trailing four-quarter basis.
Valuations for the communities reached a record in the second quarter of $46,970 per pad, the real estate services firm said in a report. Occupancies also climbed to a new high, at 95.4%. And rents rose throughout the pandemic, to a record $800 a month on average.
Manufactured housing is becoming an increasingly popular option as costs for more-traditional properties soar. Strong demand is expected to continue over the long term as the share of Americans over age 65 grows, JLL said. Mobile homes also are gaining favor as communities add more amenities, such as pools and gyms.
While private capital represented 72% of mobile-home investment this year, institutional investors are getting more involved. They accounted for 22% of total volume, the highest percentage on record, according to JLL.
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