“Five things that might surprise you about the fastest-growing segment of the housing market”
“One of the most pronounced shifts in the housing market since the financial crisis has been the evolution of the single-family rental (SFR) market. Today, single-family rentals (one-unit, attached and detached) account for 35 percent of the country’s 44 million rental units, compared with 31 percent in 2006. More than half of renters live in structures with less than four units.
“The Urban Institute’s Housing Finance Policy Center recently hosted a panel discussion with three single-family rental experts: Douglas Bendt from Investability, Sandeep Bordia from Amherst Capital Management, and Calvin Schnure from the National Association of Real Estate Investment Trusts (NAREIT). Their conversation illuminated five important facts everyone should know about this growing market:
“1. Single-family rental is the fastest-growing segment of the housing market.
“Growth in SFRs has outpaced growth of single-family owner and all multifamily housing in recent years.”
“Communities Take Action to Fight Blight”
“Senator David Argall (R-Schuylkill/Berks), Chairman of the Pennsylvania Blight Task Force and a great champion of state level policies and programs to tackle blight, issued a challenge to communities across the Commonwealth in a recent Letter to the Editor published in the Easton Express-Times: “If your community is not using these laws in the battle against blight, it’s time to speak up and ask ‘why not’?” His letter pointed out the numerous tools that have been made possible through state enabling legislation. These tools are due to his leadership, the Housing Alliance’s own efforts, champions within the General Assembly, and countless others.”
“City inspectors ticketing ‘nuisance’ properties”
“WILKES-BARRE — Teams of city inspectors hit the sidewalks in the Heights on Wednesday, looking for quality-of-life code violations as operation “Taking It to the Streets” made its debut.
“Tree limbs hanging over your fence and obstructing your sidewalk? Bam! A $100 violation ticket is taped to your door.
“Indoor furniture on your front porch? Pow! Another $100 ticket.
“Fail to pay the ticket within 48 hours? A 10 percent late fee is added to the fine for each day your payment is late, up to 10 days. And if you don’t pay the fine within 10 working days, a citation will be filed with the magistrate’s office.”