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What’s more, operating costs for apartment and SFR (single-family rental) operators are up significantly since 2019 due to higher propertytaxes, insurance, and payroll costs. JBREC is not forecasting meaningful rent growth until 2026 and beyond, which will make it harder for new project developments to pencil.”
It assumed a 10% down payment and did not factor in propertytaxes or homeowners insurance. And the youngest millennials (ages 28 to 43 this year) don’t turn 30 until 2026, so there is time for this trend to shift. For millennials turning 30, the typical mortgage payment has averaged only 22.5% of their median income.
The advance seasonally adjusted insured unemployment rate was 1.3% The advance number for seasonally adjusted insured unemployment during the week ending October 12 was 1,897,000, an increase of 28,000 from the previous week’s revised level—marking the highest level for insured unemployment since November 13, 2021, when it was 1,974,000.
In order of least to most impactful, the 2025 list includes the price expectations gap, office vacancies and the tax base, sustainability, artificial intelligence, housing attainability, insurance costs, geopolitics and regional wars, loan maturities and debt repricing, the cost of financing and global and U.S.
As high propertytaxes continue to be a source of financial strain for homeowners, a proposal floated last month by Florida Gov. Ron DeSantis (R) to ban propertytaxes in the state appears to be gaining traction, according to a new report in the Wall Street Journal. Taxpayers need relief.
Homeowners insurance premiums have surged over the last few years, and while estimates of the increase range some, the average is about 30% to 50% since 2019, and as much as 90%+ in areas with higher exposure to natural disasters. This shock has been more significant in markets where insurance costs have surged.
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