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Rising Rents In 2021:
Reports are now highlighting an EXTREME disconnect between rents and home prices, while “Rents for single-family homes see the largest gains in nearly 15 Years,” “The LA times braces people to expect rental prices to rise,”… national rent growth is already approaching a 5% increase from a year ago…and, starting now…there is a “rental rebound” taking shape across the entire country….
Why this is happening:
ONE, people are out-priced from rising home values – and, they’re forced to rent, instead.
That’s caused rental prices to spike upwards as soon as the economy began re-opening…and, it’s on track to continue even further, as home values climb higher and higher.
SECOND, there’s simply NOT ENOUGH rental inventory on the market.
Right now, developers are simply overwhelmed by excess building restrictions, rising cost of materials, and the fact that – most of the time, it’s easier to build and sell to an owner-user rather than build to rent.
THIRD, higher property values indirectly push up the cost of rent.
That’s because, in order for it to make FINANCIAL SENSE to rent out a home…rents need to at least COVER the overhead cost associated with ownership.
FOURTH…we’re just now starting to see higher rent as tenant leases are expiring from a year ago.
FIFTH…the extension of an eviction memorandum means that less inventory is introduced to the market, further worsening rental supply.
ALL OF THAT, COMBINED – leads to a “perfect storm” for rental prices to start increasing at an even faster rate throughout the rest of the year, and into 2022.
To save money on your lease:
-Sign a long term lease.
This does two things: first, the landlord gets guaranteed rent throughout the new term without the hassle of needing to find a new tenants…and, two, it ensures that your rent doesn’t go up in the process.
Second, you can relocate or downsize as needed to save the extra cost.
If you have any unused space, or a bedroom that doesn’t get much use…consider getting rid of it and saving the extra money, instead.
Third, you can negotiate with your landlord.
Fourth, if you’re looking to move – CHECK new listings OFTEN.
USUALLY…the efficient landlords price their rentals slightly below market value so they can lease it quickly, AND have their selection of the best tenants.
And Fifth…know the market and what’s available.
It’s obvious there’s a SEVERE HOUSING SHORTAGE across the US, and – at the end of the day – the only way we can TRULY solve it, is with more development. Simply put, we need building regulation that promotes the construction of lower-cost housing…because, right now, that doesn’t exist. The process is SO EXPENSIVE and time consuming for even the most experienced developers, that it makes it cost prohibitive to build ANYTHING OTHER than a luxury unit…and, that just drives rental prices higher.
So, the best we can do is continue to push for more development…understand that you CAN negotiate your lease and re-structure terms in such a way that saves you money…and, by now…at least you have a greater understanding of what’s happening, so you’re better prepared for rents to start going up across the country
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Great content
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Great video! Looking forward to following along on this next adventure 😊
I live in Austin, TX, we already have been getting more Tech Professionals moving here from West Coast, now, Post-Pandemic is just a double-whammy for Austin……cause the Californians are moving here even more now. I have to stay in my 650 sf apartment for a 3rd year because I see rents $200-$300+ more per month right now. It's INSANE. I finally got myself small storage just to declutter my apartment so I can survive another year living small. I need a larger place, I have outgrown my current one with my 4-year old.
Thank you G.S.
We need to incentives for simple non luxury apartments. Not projects, not slums, but also don't need absurd amenities. Where I live my choices are either luxury apartments, or subsidized housing.. I make to little for the first and too much for the second. Basically screwed.
Watching this video to help justify panic buying a rare house near the beach for 30k higher than what I wanted. $330k total first house. I did the deal to help my senior parents have living stability.
That area has no rental availability and my moms realestate is established in the area so I did it to save quality of life and lock in that awesome location.
Is nobody gunna talk bout the man intro to video… man said “Sup Gram, it’s guys here” 😂😂😂😂 lmao 💀
It's even in the name. Land Lord. Lord = a man of noble rank or high office; a nobleman. Landlord is a modern day Feudal Lord. Welcome back to feudalism. The Lord owns the land/property, meanwhile, you break your back to pay the rent. And the rent goes up and up and up, while your wage remains static. Have fun being a wageslave. Landlords are ,essentially, parasitical organisms. They feed off of your labour, while they do nothing productive themselves.
Things went downhill, when real estate became equal to an 'investment opportunity', instead of being a basic necessity. Imagine water or oxygen becoming an 'investment opportunity'. A select few would profit off of this,; the lords, and the rest would have no choice but to pay whatever the price is, or die.
This is the reality of today – suck off your landLORD, or become homeless and die.
I say – behead the fuckers/landlords.
Do it bro. Multifamly is my jam.
There is not a housing shortage. Those people that does those reports, are only looking at new built homes. And not older homes.
Are we just gunna ignore “What’s up Graham, it’s guys here?” 🤔
Did you realize what you said in the start? What’s up Gram.. it’s Guys here” lol
Thanks.
I started listening a week ago but had to set it aside. The whole market is crazy. Additionally the entire economy is set for rampant inflation.
Whats Grahams guys it's up!
What’s up Graham, it’s guys here 🤣
What’s up gram it’s guys here ??? That’s a bit backwards 😂😂😂😂
I don't know if you know but there is a rent freeze in many locations during corvid.
RV Sales will going high too.
Define "excess building restrictions"… because some restrictions that people want removed just to make a buck are there to prevent harm and death to residents.
Dude speak slower please.
Could you cover the Australian real-estate dramas
Graham react to the new LOTUS EMIRA!
REAL ESTATE is more stable than any other investment.
Graham touches a couple of great points. We have paired some of the recent changes in the market with the Flipeer tool
It's funny you call rising rent "Rising Values" when that "value" is just artificial inflation from Blackrock et al buying up homes to flip for rentals… there's no extra value to renters. It's just a fake rent increase to people shopping for a place to rent when they can't buy (because of being priced out of the buying market for the same reason).
Would you still recommend getting in to real estate via getting a real estate license with the ultimate goal being real estate investment?
whats up Graham, it's guys here. Hahaha
Graham doesn't talk about that he's part of the problem. Rich people buying up so many houses to rent out. pricing out the regular home buyers that just want a place to live. Rising home prices and hiking up their rents. The cost of rent can't just keep going up cause the wages don't go up. Rich people need to be disencentivised from buying up so many houses. Like losing all tax breaks from houses other than on primary residence. All these people buying at the same time, raising up housing prices to crazy levels, it's on them if they made a bad investment and can't break even with renting it out. Stop screwing over the average person that just wants a place to live.
What's up graham it's guys here
Any plans to eventually syndicate?
Good info
I found this very helpful. The funny thing is you mentioned faster cheaper building or houses .. I think the future is going to include homes that can be transported and built in an hour
I think this video is EXTREMELY landlord biased. Rent is essentially a means for landlords to profit in the form of equity on real estate investments. Even if landlords are "barely" covering costs landlords will make their money and profit back when they sell the property. Higher costs also accompany higher home values which means the investment is gaining value. Landlords should be shouldering more costs not less when the housing market is booming.
Can you start attaching sources to every video?
@Graham Stephan when you say you're about the same in real estate as the market are you talking total net value or cash?
I don’t get it. The other day you just said the housing market was gonna bust. Now this. What?
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I’m actually getting my real estate license in NYC this month! So I’m excited lol
Nice video agin Graham! You put in much efforts to make these videos I am sending this one to my colleagues. That's my favorite youtuber
@grahamStephan If you are going to be investing in commercial and want to raise outside capital, feel free to hit me up. I create offering documents for RE funds for a living, so I know a lot about the space.