The Latest Edition of reiaSENSE

Inflation is Everywhere: Inflation is handled. Or at least under control…sort of? It all depends on the statistics you follow. National reserve banks are signaling a variety of different next steps as they look to the national impact of inflation and the economy. The hegemony of the World Bank seems to breaking down a bit, in no small part due to the national elections politicians in each country are facing! Those in office tend to lose election if the economy is not fairing well, so the supposedly non-political National Reserves are generally signaling a slight decrease if not to juice the economy, then to boost consumer confidence. The latest inflation numbers can be seen here.

Growing Your Government: According to the U.S. Department of Labor’s Bureau of Labor Statistics, total nonfarm payroll employment increased by 216k in December, with the unemployment rate coming in at 3.7%. However, looking back over 2023, government added an average of 56k jobs per month – more than double the average monthly gain of 23k in 2022!

Don’t Touch Anything Metal Outside! We are touching the furnace and boiler, or at least the thermostat. With the Polar Bomb dropping temperatures across most of the country, most heating systems are getting a workout. Building that relationship with your favorite HVAC contractor could pay off during the cold spell. We are also touching on a recommendation to municipalities to provide Sharkbite kits in the event of store shortages in areas only occasionally hit by sudden cold spells.

Seller Finance Update: The Affordable Homeownership Access Act (HR 3464) seeks to provide working families with another access point to the home buying process by providing relief to individuals and small businesses so that they can sell their homes directly to a buyer without the fees associated with being a mortgage originator. We have been working with the Seller Finance Coalition and encouraging our members to reach out to their Congressmen to ask for their support on this important piece of legislation. As a partner of the SFC, National REIA looks forward to continuing our work with them in helping to move this legislation forward in both the House and Senate. Jeff Watson provides us with an informative update from the Seller Finance Coalition – click here to read it.

In Keeping with the Winter Theme: Keep an eye out for bald patches on your roof. If heat is escaping in certain areas out of your roof think of the snow as a tell-tale sign of the need for insulation. Those hot spots are signs of heating money going right out of the roof. The same can be said of ice jams that are melting from a warm spot and building up again when cold. Save money and future damage by paying attention after a snow fall! A couple pics now will provide a map to savings in the spring.

On the MOVE: The new U-Haul numbers are out! Texas, Florida and the Carolinas dominated the list – based on one-way rentals. For the 7th year in a row Florida dominated their list of the top 25 destinations with the Palm Bay-Melbourne market netting the largest number of in-bound movers.

Transparency: The Department of Energy, is also pushing for ‘transparency in all utility bills’ a resident may face while renting an apartment unit. Start building that list of utility bills with estimated monthly costs to provide as an estimate to residents, because it will likely be a regulation very soon. Forewarned is forearmed!

The government at the local, state and federal levels are all struggling to address “Big Housing.” What exactly is “Big Housing?” Some of the latest legislation, such as in Illinois, but consistent with Virginia and Ohio, prohibits equity groups from owning single family housing by charging a tax for 100% of the fair market value of the property purchased, with an additional fine of $15,000 annually. Every other entity is restricted to 50 single family houses or the penalties are applicable as well. Any REIA owner with a portfolio of over 50 units may now consider themselves, “Big Housing.” The reality is that this will likely pass in some states, with other states watching to see how this impacts housing costs and availability.

Capitalism is not an ‘ism.’ It is closer to being the opposite of an ‘ism,’ because it is simply the freedom of ordinary people to make whatever economic transactions they can mutually agree to.
– Thomas Sowell

Stay up to date: Stay up to date with current industry news and updates by visiting RealEstateInvestingToday.com. Likewise, visit NationalREIA.org/advocacy to stay up today with current legislation and governmental actions.