California Home Affordability Issue Continues to Grow

California Association of Realtors | August 15, 2019

According to the California Association of Realtors, higher home prices negated low interest rates and further reduced Californians' ability to purchase a home in the second quarter of 2019. The percentage of home buyers who could afford to purchase a median-priced, existing single-family home in California in second-quarter 2019 dipped to 30 percent from 32 percent in the first quarter of 2019 but was up from 26 percent in the second quarter a year ago, according to C.A.R.'s Traditional Housing Affordability Index (HAI). California's housing affordability index hit a peak of 56 percent in the second quarter of 2012.

Spotlight

The dramatic increase in the number of Australians turning 65 over the next 20 years is now an established demographic fact. Treasury projects a doubling of the seniors’ population by 2050, with an economically signifcant reduction in the ratio of taxpayers to retirees. To support this growth there needs to be a large corresponding increase in the amount of purpose-built housing, so that the 8.1 million Australians who will be over 65 by 2050 continue to have the choice, independence and autonomy that they expect and deserve.

Spotlight

The dramatic increase in the number of Australians turning 65 over the next 20 years is now an established demographic fact. Treasury projects a doubling of the seniors’ population by 2050, with an economically signifcant reduction in the ratio of taxpayers to retirees. To support this growth there needs to be a large corresponding increase in the amount of purpose-built housing, so that the 8.1 million Australians who will be over 65 by 2050 continue to have the choice, independence and autonomy that they expect and deserve.

Related News

REAL ESTATE INVESTMENT

Bitcoin Buys Australian Real Estate

Lloyds Auctioneers & Valuers Pty Ltd | October 11, 2021

The innovative online auction house is proving to be a disruptor in yet another market, with the combination of properties starting at just $1, a gazump-free guarantee and accepting all forms of payment including cryptocurrency, Lloyds is challenging the traditional real estate model. Throughout COVID lockdowns this veteran auction house has used high quality audio/visual walkthroughs of each property along with millions of items sold, to morph itself over the last 5 years into a digital disruptor of over a dozen different verticals including art, classic cars, diamonds, NFT's and earthmoving machinery. The Lloyds Auctions platform operates with a combination of live on-site bidding, online bidding, phone bidding and absentee bidding that all simultaneously combine to create the same live auction experience, and for bidders unable to attend physically Lloyds live streams a multi-camera simulcast production worldwide. The use of cryptocurrency as a payment method is becoming more commonly used for purchases as confidence surrounding cryptocurrency gets stronger. This opens up our platform to a whole new audience who otherwise might not have been interested in purchasing property, This is an online auction first and we are extremely excited to offer this new technology to our ever growing worldwide clientele base expanding our company into a new division in a way that no other auction house has done before. - Lee Hames, Chief Operating Officer for Lloyds Auctioneers and Valuers. The first online property auctions were launched 3 days ago with millions of dollars of bids already received it looks like bidders are more than comfortable with this new online real estate model.

Read More

REAL ESTATE INVESTMENT

EOS INVESTORS LLC ACQUIRES BEACH HOUSE RESORT

EOS Investors | March 04, 2022

EOS Investors LLC ("EOS"), a privately held real estate investment firm, today announced its acquisition of the Beach House Resort, an oceanfront resort in Hilton Head Island, South Carolina, one of the Southeast's most well-established leisure markets. We are excited to welcome another high-quality, leisure destination to EOS's portfolio of more than 3,700 oceanfront keys in South Carolina, Beach House aligns with our strategic approach of identifying unique assets in high barrier-to-entry markets. Hilton Head Island serves nearly 2.5 million annual visitors and no resorts have been developed on the beachfront in over 35 years." Tom Burns, Managing Director of EOS Investors. We look forward to building upon the longstanding success and welcoming hospitality that the Beach House Resort has fostered for many years. We are excited to invest in the property and feature added offerings for hotel guests and Hilton Head visitors alike in the years to come." Simon Mais, Chief Operating Officer at EOS Hospitality. Situated on 4.6 acres with 400 linear feet of prime beachfront, the Beach House Resort offers 202 keys with ocean views and private patios, an expansive outdoor pool, fitness center, and a business center. The resort offers guests several dining options, including the Tiki Hut, the only live music beach venue in Hilton Head. The property boasts 7,000 sq. ft. of indoor and 10,000 sq. ft. of outdoor meeting space, which consists of eight individual indoor spaces, two outdoor spaces and a 1,000 sq. ft. ballroom. The Beach House is also conveniently located one block from Hilton Head's premier shopping center, Coligny Plaza, featuring over 60 shops and restaurants, as well as events during the summer season. The acquisition of the Beach House Resort further expands EOS's presence in coastal South Carolina following the acquisition of Kingston Resorts in 2019 and partnership with Brittain Resorts in 2021, both in Myrtle Beach. About EOS Investors: EOS is a fully integrated investment firm dedicated to identifying and creating value within the hospitality sector. EOS utilizes a highly selective investment approach focused on high-quality, differentiated assets with attractive risk-adjusted returns. Headquartered in New York City, EOS seeks investment opportunities across the United States, with an emphasis on major urban markets and resort destinations.

Read More

REAL ESTATE TECHNOLOGY

Investors in commercial real estate must foster discussions, especially during a pandemic.

prnewswire | November 19, 2020

Business property estimations have changed over the most recent a half year because of the pandemic and land is at present in an unchartered area. That is as indicated by the leader of business land financier NAI Pleasant Valley, Alec Pacella, who spoke Wednesday at the 2020 REALTORS Conference and Expo. Pacella, who facilitated a meeting named, "Selling CRE Properties: How COVID-19 Impacts the Numbers," summed up the ongoing history of the business land industry, including its estimating file, esteem pinnacles and purchaser desires. "In the early part of last decade – 2006, 2007, 2008 – expectations were actually greater than the pricing index. There was more demand than there was supply." Yet, in 2009 and 2010, as Pacella notes, desires were lower than the estimating list. Therefore, interests in business land were almost nonexistent. "No deals were happening then," he said. "You couldn't give real estate away in a lot of markets because the expectations were so low." The situation Pacella portrays isn't not normal for the present status of business land, the same number of proprietors of once-beneficial organizations have watched famous chains battle or be compelled to forever close their entryways. Pacella says the way to exploring this market is for land owners and speculators to look after exchange. Also, as a result of the market's repeating nature, Pacella says financial specialists will need to be in position to underwrite when conditions ultimately improve. "In an uncertain market, it's critical to keep conversations going." Having a strategy to engage in open conversation, he says, could eventually lead to a deal in the future. In the business land area, exchanges can happen when markets are rising or falling, as indicated by Pacella. "We could sit there and sit on our hands and say 'we're out of business; come talk to me in 2021, 2022 when things get back.' No, that's not what we do, that's not how most of us are wired." The National Association of Realtors® is America's biggest exchange affiliation, speaking to more than 1.4 million individuals engaged with all parts of the private and business land enterprises.

Read More