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DataDigest: New data shows how brokerages, agents, landlords & homebuilders were reshaped by the pandemic

Housing Wire

Business Dynamic Statistics data reveal that 2021 was a year of major growth for homebuilders but steep contraction for landlords (called “lessors” in the BDS). Lessors The picture was far less rosy for real estate lessors (typically landlords and real estate investment trusts ) in 2021. gain in 2005.

Landlords 354
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Congressional report finds Invitation Homes downplayed evictions to Fannie Mae

Housing Wire

That’s what a congressional subcommittee said happened between Fannie Mae and Invitation Homes , the single-family rental landlord that in 2017 got a $1 billion interest-only 10-year loan from the government-sponsored enterprise. Imagine getting a $1 billion, interest-only loan and later lying to your creditor.

Landlords 355
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Till raises $8 million in seed funding for flexible rent platform

Housing Wire

based company since its 2017 inception. The company partners with institutional landlords, who then offer it to their tenants. “At The company plans to use the new capital mainly to grow its platform and increase adoption by landlords and renters nationwide. No doubt this space is an increasingly crowded one.

Landlords 362
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Financing proves an obstacle for ADUs

Housing Wire

Turnover is a huge expense for landlords and property managers across the world. “However, the rental income can account for no more than 30% of the borrower’s total stable income and the borrower must have either had landlord experience or taken a landlord training course,” the report reads.

Finance 367
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Report urges rent payment history in underwriting

Housing Wire

However: collecting rent payment data is hard since there are 10 million smaller landlords, which make up 44% of the U.S. The FHFA, which oversees Fannie Mae and Freddie Mac, launched an effort in 2017 to study the impact of adopting an alternative credit scoring model. rental market, the report notes.

Landlords 389
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Homelessness is not an unsolvable problem

Housing Wire

has increased by about 6% every year since 2017 and in 2022 reached about 582,462 people nationwide , according to the National Alliance to End Homelessness. Any amount of time is too long, but landlord engagement and counseling has reduced this home search time.(Brief) The number of people who are unhoused in the U.S.

Landlords 355
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Divvy Homes conducts third round of layoffs 

Housing Wire

Founded in 2017, the proptech purchases a home for a potential buyer and then rents it back to them for up to three years. Fast Company reported in October 2022 that Divvy Homes charged higher rents than other landlords in some of its 19 markets, citing court cases and interviews with renters.

Valuation 303