By KIMBERLEY HAAS
Build-for-rent communities have been growing in popularity as the housing landscape changes in the United States.
According to leaders at the National Association of Home Builders, developers are exploring new ways to meet continued housing demand and single-family build-for-rent properties provide a stepping stone between renting and buying for young families, as well as a good downsizing option for aging adults. They say many of the people who choose to live in these neighborhoods are renters by choice.
The concept has been getting national attention as people want the flexibility of renting but the amenities that come with homeownership such as more privacy and backyards. It is estimated that hundreds of build-for-rent communities are coming to the…
By NICOLE MURRAY
Successful malls are offering more than a little retail therapy these days.
Shopping malls across the country have been forced to pivot their business strategies as inflation rates spike, retail spaces become vacant, and e-commerce grows in popularity.
Experts say malls have performed differently depending on their class.
According to Kelly Mangold, principal at RCLCO Real Estate Consulting, class A malls with exclusive, high-end luxury retailers with few vacancies have continued to perform the best.
“Malls tend to be successful when they are transformed into a one-stop shop for high-end goods that people cannot get anywhere else nearby,” Mangold said.
Class B malls, whose success relies on their anchor retailers, have struggled because, “their level of business…
By KIMBERLEY HAAS
Privately-owned housing starts surpassed estimates in May, beating expectations as the housing market remains tight.
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development announced the latest residential construction statistics on Tuesday morning.
“Privately-owned housing starts in May were at a seasonally adjusted annual rate of 1,631,000. This is 21.7% (±14.8%) above the revised April estimate of 1,340,000 and is 5.7% (±10.8%) above the May 2022 rate of 1,543,000. Single‐family housing starts in May were at a rate of 997,000; this is 18.5% (±14.1%) above the revised April figure of 841,000,” a press release says.
Principal Kelly Mangold of RCLCO Real Estate Consulting in Maryland said this is the second month in a…
