Startups aimed at streamlining the house-flipping process are seeking out rental property owners as the popularity of single-family rentals continues to grow.
"Skyrocketing home prices and billions in institutional cash have made the U.S. single-family rental market extremely hot. More than a third of U.S. rentals are now single-family homes; demand is so huge Wall Street investors have created an $85 billion market to build ground-up single-family rental neighborhoods."
Patrick Sisson reports on new software platforms like FlipOS that want to provide a system for streamlining the process of buying, repairing and managing multiple properties for property owners. "The company works with everyone from mom-and-pop investors to institutional buyers, and started collaborating with Phoenix-area flippers last February to try and figure out what he calls the flipper’s 'black magic' — the ability to find houses and do a quick and fast renovation — and then standardize it." But, Sisson writes, "It’s difficult to document just what the spread of this software could do to an already overheated single-family rental market. Rents have jumped 35% year-over-year, hitting $2,160 median rent across the U.S. in February, according to home rental marketplace Dwellsy."
In fast-growing cities like Phoenix, where one-bedroom rents spiked by 117 percent between September 2020 and September 2021, the need for affordable housing is dire. "But the region simply can’t build its way out of its housing crisis without a lot more density, says Alison Cook-Davis, associate director of research at Arizona State University’s Morrison Institute for Public Policy." But the popularity of the single-family rental market could push investors to aggressively promote build-to-rent development of single-family neighborhoods.
FULL STORY: House-Flipping Tech Powers a Boom in Single-Family Rentals
Depopulation Patterns Get Weird
A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
California Exodus: Population Drops Below 39 Million
Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
Google Maps Introduces New Transit, EV Features
It will now be easier to find electric car charging stations and transit options.
Ohio Lawmakers Propose Incentivizing Housing Production
A proposed bill would take a carrot approach to stimulating housing production through a grant program that would reward cities that implement pro-housing policies.
Chicago Awarded $2M Reconnecting Communities Grant
Community advocates say the city’s plan may not do enough to reverse the negative impacts of a major expressway.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
City of Universal City TX
ULI Northwest Arkansas
Town of Zionsville
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