975: BiggerNews: Rent Price Updates and Why Landlords Are Optimistic About 2024 w/Zumper’s Anthemos Georgiades

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 21 June 2024

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

The rental market could finally be returning to stability after a wild past four years. Since 2020, we’ve seen rent prices skyrocket almost overnight, with huge asking price increases for single-family homes, multifamily apartments, and everything in between. But that trend quickly reversed as the fight against inflation began, mortgage rates rose, and would-be homebuyers sat still, not knowing whether to stay renting or search for a home. But, a return to “equilibrium” may be coming soon, and that’s good news for landlords and renters alike. To break it all down, Zumper’s Anthemos Georgiades joins the show to share his team’s latest rent data. Anthemos brings some surprisingly good news for landlords, from new month-over-month rent growth data to consumer preferences shifting to a more renter-focused lifestyle; now may be the moment landlords have been waiting for as renter demand looks promising and rates stay high. We’ll also discuss the inflation lag effect our rental market has caused and how to stay on top of current rent prices. Has the dream of homeownership died? And if so, how do YOU attract the long-term renters who want to make a home out of your house (while paying YOU rent!)? Stick around for this rental market update every landlord needs to know about. Support today’s show sponsor, Rent App: the free and easy way to collect rent! In This Episode We Cover Rent growth updates and why rents for some units are starting to climb Single-family vs. multifamily demand and which asset is seeing the most strength Why Anthemos is predicting a return to “equilibrium” for landlords this summer The massive effect rent has on inflation and how housing shifts the economy Is the “American Dream” dead? Why young Americans are ditching homeownership Where to find free, up-to-date rent price data so YOU can make the most from your rental And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-975 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	More than 30% of renters now believe that the American dream does not involve home ownership.
0:07.0	This is a statistic that real estate investors cannot ignore.
0:11.0	So today we're digging into what is going on in the rental market at
0:15.0	large and with renter sentiment.
0:19.2	Hey investors welcome to the BiggerPockets podcast my name is Dave Meyer
0:26.4	it's Friday which means we have bigger news episode for you this format every
0:31.1	single week we bring you experts and topics that help inform what is going on in the market and new cycle so you can make better investing decisions.
0:39.0	And for today's dose of solid investing advice, we are talking to Anthony
0:43.7	Georgeiades, who is the CEO at Zumper. It's an online rental marketplace.
0:48.8	And in our conversation today, we're going to talk about what is going on in the
0:52.4	rental market and
0:53.4	economy at large specifically we'll talk about the Fed activity projected rate
0:58.8	cuts how that's all going to play out we'll discuss how shelter costs impact inflation and some sort of interesting news there.
1:06.0	We'll also talk about overall supply and demand dynamics in the rental market, which classes and
1:11.4	properties have too much supply, and what that means for rents all across the rental spectrum and make sure to stick to the end because we get into this great discussion about how this
1:23.6	loss of belief that the American dream includes home ownership has changed
1:28.8	and how it could potentially change the housing market really forever.
1:33.8	Before we get into the episode,
1:35.4	our bigger news episode today is brought to you by Rent App.
1:39.4	This is a free and easy way to collect rent,
1:42.1	and if you want to learn more go to rent.
1:44.0	app slash landlord. All right let's bring on anth.
	...

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