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‘What Renters Want’ with Jessica Fiur: Reasons Millennials DO Want to Buy
Oh, no they didn’t. I am an avid reader of the RENTCafe Blog, which has all sorts of interesting entries about apartment living. And recently I read a blog on their site called “Why We Rather Rent Than Buy,” which posed the idea that members of Gen Y would rather rent then buy, citing reasons such as more mobility, the unstable job market and the fact that people are marrying and starting families later in life. Fair enough, and all good reasons. But I beg to differ. If Millennials had the money, they totally would buy. And if constant checks to…
‘The Accidental Economist’ with Jack Kern: Forecasting in an Age of Uncertainty
“The only function of economic forecasting is to make astrology look respectable.” (c) John Kenneth Galbraith, noted writer and economist I recently had the pleasure of meeting with the Dallas Fort Worth Real Estate Research Forum and presenting some thoughts on being a real estate forecasting practitioner. In some ways, it’s a lot like being a weatherman in the middle of storm where everyone knows it’s raining and all you can talk about is how long it’s going to come down. In some sense, whether you’re concerned about Basel III or the change in cap rates on apartments or other…
‘What Renters Want’ with Jessica Fiur: How Tom Cruise Can Help Bring New Life to Your Apartment
I had pretty much written off Tom Cruise. Sure, in the ’80s he was amazing. I mean, whenever you are home alone, you are almost required by law to put on Ray Bans and play air guitar in your underwear to “Old Time Rock and Roll” (or do the Home Alone scream, but that doesn’t really help my example). And, I guess you can throw in Top Gun as another example of good vintage Tom Cruise, although I’m doing that kicking and screaming because I think I’m literally the only person on the planet who does not like that movie….
‘The Accidental Economist’ with Jack Kern: What Women Really Want
“I hate to hear you talk about all women as if they were fine ladies instead of rational creatures. None of us want to be in calm waters all our lives.” (c)― Jane Austen, Persuasion There has been a lot of press about Gen Y and the media has declared this group of young people the darlings of the future. With one pronouncement after another, this cluster has been seen as the coming savior of everything from retail boutiques, to shopping online to apartment rents. Up until now, most of the judgment coming out of the business press has been…
‘What Renters Want’ with Jessica Fiur: A Modest Proposal to Get Rid of Additional Apartment Fees
My husband and I frequently go through a number of real estate “phases” where we get really crazed about an idea, and then sort of let it go. Sometimes we think we should buy while the buying is hot and get a condo in Jersey. Then we think, “Is adding half an hour and an additional mode of transportation to our commutes really worth it just to live in the state where Bruce Springsteen is from?” Then, maybe after watching too many episodes of Sex and the City and I get a hankering for trendy bars, over-priced cupcakes and men…
‘What Renters Want’ with Jessica Fiur: How to Treat a Doorman (And How to Act as One)
According to a recent article in The New York Times, people don’t always know how to act around their doormen, or know what to ask/expect of them. I know, I know. First-world problems. It’s like, “Gracious, I bought so much caviar that my guests are going to be too full to enjoy their filet mignon.” Or “Oh, dear me, I shan’t be able to make it to the polo match because I have that sailing regatta the same day.” (Seriously, though, that’s too bad. I know how much you were looking forward to that.) Or, I don’t know, something about not…
‘The Accidental Economist’ with Jack Kern: Property Prices and Fly Fishing
Sometimes I wonder if it says “kick me” on the back of my suit. I’ve been following property prices and talking to a number of colleagues about trends in apartment, retail and industrial and for some reason on at least two occasions the conversation turned to fly-fishing. I don’t know anything about fly-fishing. In fact, the only time I tried it, it took a while to pick the flies (the hook kind, not the buzzing kind) out of my lucky fishing shirt. (All real estate people have lucky fishing shirts. Go on, just ask them). Inevitably there seems to be…
‘What Renters Want’ with Jessica Fiur: ‘Reality’ TV (Or How We Learned to Stop Worrying and Love Real Estate Shows)
We accept the fact that reality TV isn’t actually real. Of course there’s editing involved. And the contestants are usually manipulated into situations where there’d be the most drama. Most of the people are just acting up for the cameras to get the most air time so they can parlay their B- and C-list fame into a book deal or brand of cocktails. I’m sure once the cameras are turned off, The Situation and J-Woww have a spirited debate about the national debt, as they are wont to do. And that’s fine. Actually, that’s more than fine. That’s escapism, baby….
‘The Accidental Economist’ with Jack Kern: The Shadow Inventory is Neither
In what I can only characterize as an interesting turn of events, the well-respected firm Corelogic released a report that indicated a reduction in “shadow” inventory by 1.5 million units, which translates to roughly four months’ supply. This represents, according to Corelogic, about one half of the number of housing units currently in serious foreclosure or REO status. Since this presents some good news, I found it to be odd that the oft-used term “shadow” keeps coming up. The unstated presumption in the release was that this is an inventory bound for rental and probably not re-sale, otherwise it wouldn’t be…
‘What Renters Want’ with Jessica Fiur: What’s on Your Apartment ‘Laminated List’?
There’s an episode of Friends where Ross and Rachel are making lists of famous people, who, in the unlikely case that they meet them, are allowed to have affairs with them and not get in trouble with their significant other. Ross even goes so far as to laminate his list. And a lot of people make their own “laminated lists.” Do you have one? Who’s on it? OK, I’ll stop being nosy. Anyway, if this “Get out of jail free” rule is available in relationships (even if it’s unlikely you’ll ever get an opportunity to use it), I think it…