article thumbnail

What Is Gentrification – and Why Is It Good or Bad?

Empire Appraisal Group

Since 2000, according to a 2019 New York Times report on gentrification, the phenomenon is affecting about one in six predominantly African American Census tracts in the U.S. In Durham, for example, the construction of the Durham Freeway contributed to the demise of thriving Black commerce in the city. Is gentrification bad?

article thumbnail

US housing market is short 5.5 million homes, NAR says

Housing Wire

According to the lobbying group, construction of long-term housing fell 5.5 The NAR is calling for a “major national commitment” to build more housing of all types by expanding resources, addressing barriers to new development and making new housing construction an integral part of a national infrastructure strategy.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Eleven Types of Risk in Commercial Real Estate

Property Metrics

In the United States, the inflation rate has been around 2% per year since the year 2000. Construction Risk. Any time a property undergoes construction, there is an additional source of risk to the property owner. Construction risk applies whether there is a new development or a significant renovation.

article thumbnail

Investor Financing Heats Up

Patch of Land

Home flipping set a record during the first quarter of 2018 when homes flipped sold at an average gross profit of $69,500—the highest average gross flipping profit since first quarter 2000 (when ATTOM Data Solutions began tracking flips). Average gross profits were up 4.8 percent from $66,287 in the year-ago period. Areas to Watch.

Finance 31
article thumbnail

Non-Arms Length Sales for Appraisers

Appraisal Today

This practice may shed light on why the correlation between home values and neighborhood racial composition strengthened again from 1980-2015, while the connection between home values and traditional factors like housing characteristics, construction quality, neighborhood amenities, and socioeconomic status weakened. built in 2000.

article thumbnail

IN DIRE NEED OF GENERATIONAL RESPONSE TO HOUSING SHORTFALL

Will Springer Realtor

annually between 1968 and 2000 but has since dropped to an average rate of 0.7% And, Seattle’s attempt to force building developers to incorporate more affordable homes within their new residential endeavors yielded only 21 units in 2020 out of a swell of 224 construction projects. The nation has faced a shortfall of 5.5 million to 6.8

article thumbnail

15 Things To Know BEFORE Moving to Raleigh NC {2022 Guide}

Raleigh Realty

The population in Raleigh, NC has seen an increase from 290,000 people in the year 2000 to nearly 500,000 folks here in 2019. For a while, Art was the main attraction in Raleigh, and it inspired arts in other forms including music, craft beer, fine dining, even inspiring some of the custom new construction homes in Raleigh.