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This year will be the first year in U.S. history that more than 500,000 new apartments are constructed, according to a new analysis of the 2024 rental market from RentCafe. The trend, which is anticipated to abate slightly in 2025, may again resurface by 2028 with exceptions remaining in... View full entry
New rental apartment construction in the United States is expected to top a 50-year high in 2023. According to a report by RentCafe, nearly 461,000 units are expected to be delivered across the U.S. this year, meaning that over the past three years, 1.2 million units will have been built and... View full entry
[In] the last two years, looser regulations and the widespread adoption of remote working attracted even more people to settle in the Sunshine State. As a result, newcomers found themselves competing with those who were already hunting for apartments in the area, making Miami-Dade the hottest area for renting in the U.S. — RentCafe
Nationwide, an average of 14 people were said to be competing for each vacant apartment unit, which remained on the market for an average of 32 days. Miami-Dade County was joined by four other Florida rental markets in the top 20 despite adding a total of 34,000 new dwellings within the calendar... View full entry
According to a new report by apartment search website RentCafe, New York City is projected to deliver the most newly-built apartments in 2022, claiming the top position for the first time since 2018. Despite pandemic-induced setbacks in the last two years, New York City is expected to... View full entry
WeWork co-founder Adam Neumann is once again making waves with the announcement of a new startup called Flow that’s being funded by early Airbnb investors Andreessen Horowitz and is promoting itself as a real estate startup that aims to revolutionize the residential housing industry. The... View full entry
Roughly 2.4 million New York City tenants will face the biggest rent hikes they’ve seen in nearly a decade after the Rent Guidelines Board approved the increases in a split vote Tuesday night at Cooper Union. — Gothamist
The mayor-appointed nine-person panel, which determines rent adjustments for the approximately one million rent-stabilized apartments in New York City, voted five to four to increase rents by 3.25% for one-year leases and 5% for two-year leases. The rates fall in the middle of ranges approved... View full entry
Tensions over visitors, some of whom will, inevitably, want to claim a piece of the desert themselves, has been a part of the area’s story for years. But as the pandemic has boosted Joshua Tree’s allure for travelers, transplants and investors, it has magnified old conflicts and created new conundrums. — The New York Times
Numbers of short-term rentals have doubled in Joshua Tree and the neighboring community of Yucca Valley, presenting an existential crisis to some of its inhabitants dismayed at the new boom in development to meet the demands of the market. Even the tree species that the town is named for is under... View full entry
Rents in New York City approached all-time records last month as inventory grew increasingly scarce. The median rental in Manhattan cost $3,467 last month, according to the New York Post, which cited the latest report by appraisal firm Miller Samuel. That was up a little over 2 percent from $3,392 in December, but it represented a 23 percent spike from January 2021 — falling just $5 short of the January record set in 2020, when the median rental was $3,472 per month. — The Real Deal
The median rental in Manhattan in January was just shy of the $3,540 peak in April 2020. Prices in Northwest Queens and Brooklyn also rose last month, up 28 percent and 11.1 percent year-over-year respectively. The Real Deal notes that the major force behind price growth in the housing market is... View full entry
New York City has surpassed San Francisco as the most expensive apartment rental market in the country. According to August rental data from Zumper, an apartment listing company, San Francisco has fallen behind New York in median one-bedroom rent, with New York at $2,810 and San Francisco at... View full entry
A new housing typology will be coming to the Chicago neighborhoods of West Humboldt Park and Bronzeville, where Perkins + Will architect Greg Tamborino will bring his independently-produced, competition-winning affordable housing designs to a pair of vacant lots. Tamborino was recently announced... View full entry
Dutch social renters wanting to move to a new apartment can now use an app to swap houses with other renters. One precondition, both renters need to ‘like’ each other’s apartment to get a match. [...]
Young renters with small apartments may swap with older residents who live in bigger apartments. In this way, the issue of scheefwonen (skew living — when people live in apartments that do not match their needs and desires) within the Dutch rental sector could be solved.
— Pop-Up City
"After two apartments are matched, the users are introduced to each other, after which they have to find out if their rental agreements are compatible enough for the renters to swap house." View full entry
OK, so this would mean the way to make San Francisco as affordable as (say) Portland would be to either cut everybody’s salary in half, or fire half of them, or allow the city’s population to rapidly grow about 50 percent, to about 1.2 million, while the number of housing units increased even faster. — Michael Andersen, on Medium
In discussing San Francisco's rising housing costs over the years, journalist Michael Andersen re-emphasizes some points in this recent blogpost by a man named Eric Fischer, who took his own approach in analyzing the city's housing prices before 1979, when SF's rent-control rates began being... View full entry
[Berkowitz is now] offering custom pods for sale on Craigslist for people who want to make money with AirBnB or have their own subletters. [...]
The Department of Building Inspection reached out ... confirming that the pods are illegal and a violation of housing, building, and fire safety codes. [...]
"He would have to completely open it up or look at something different, such as a bed with a frame, with curtains, something that was open to the room." [...]
"there are fire safety realities."
— Hoodline
You may remember Peter Berkowitz's name from the not-an-April-Fools-Day post we made a couple weeks ago, reporting on the box freelance illustrator Berkowitz had constructed to live in his friends' apartment, at $400 a month. After the news took off, he had begun testing the waters in the rest of... View full entry
Americans living in rentals spent almost a third of their incomes on housing in the second quarter, the highest share in recent history. Rental affordability has steadily worsened, according to a new report from Zillow, which tracked data going back to 1979...While mortgages remain relatively affordable, landlords have been able to increase rents because demand for apartments remains strong. The U.S. homeownership rate fell to the lowest level in almost five decades in the second quarter. — Bloomberg
More on Archinect:Shipping container village crops up in Oakland, offering alternative to sky-high SF rents500 Square Feet and FallingPlay "Inside the rent", and become a virtual developer in NYCMonterey Park City Council adopts tougher penalties for landlords of illegal boarding homesL.A.'s... View full entry
Berlin has become the first city in Germany in which rent-control legislation has come into force in a bid to put the breaks on some of the fastest rising rents in Europe.
From Monday, landlords in the capital will be barred from increasing rents by more than 10% above the local average. Such controls were already in place for existing tenants but have now been extended to new contracts.
“[...] the difference between the rent paid in existing contracts and new contracts is so high [...]”
— theguardian.com
