tag:blogger.com,1999:blog-1752771132348583018.post6680148924255317035..comments2024-03-29T00:50:36.331-05:00Comments on Managerial Econ: Why are rents increasing while the number of renters increases?Luke Froebhttp://www.blogger.com/profile/06832270922187297624noreply@blogger.comBlogger34125tag:blogger.com,1999:blog-1752771132348583018.post-46238084092917730202022-03-28T07:38:03.973-05:002022-03-28T07:38:03.973-05:00Very good article! Your post is really supportive ...Very good article! Your post is really supportive for me thanks for delightful post. I am very pleased to read your post Home Lifts in Nigeria.<br /><a href="https://www.nibavlifts.ng/" rel="nofollow">Vacuum Lifts Elevator Nigeria</a><br /><a href="https://www.nibavlifts.ng/" rel="nofollow">Home Elevator and Lifts in Nigeria</a> <br />Anne https://www.blogger.com/profile/02119369167746839788noreply@blogger.comtag:blogger.com,1999:blog-1752771132348583018.post-70357383931708227842022-01-27T05:30:32.455-06:002022-01-27T05:30:32.455-06:00Nice Blog.. Thanks for sharing this amazing blog. ...Nice Blog.. Thanks for sharing this amazing blog. <br /><br /><strong><a href="https://www.nibavlifts.com/" rel="nofollow"> Lift for Home </a></strong><br /><strong><a href="https://www.nibavlifts.com/small-lifts-for-homes/" rel="nofollow"> small lifts for homes </a></strong><br /><strong><a href="https://www.nibavlifts.com/the-rising-trend-of-lifts-for-houses/" rel="nofollow"> house lifts </a></strong><br /><strong><a href="https://www.nibavlifts.com/contact-us/" rel="nofollow"> elevator companies </a></strong>Nibav Lifts for Homeshttps://www.blogger.com/profile/17494610117002106593noreply@blogger.comtag:blogger.com,1999:blog-1752771132348583018.post-88946389820344254332021-07-30T05:46:43.563-05:002021-07-30T05:46:43.563-05:00Thank you for sharing useful information about rea...Thank you for sharing useful information about real estate market and the challenges involved in real estate industries and i also want to share some informations about the <a href="https://appaswamy.com/apartments-for-sale-in-adyar/" rel="nofollow">Apartments for sale in Adyar</a><br /><a href="https://appaswamy.com/flats-for-sale-vadapalani/" rel="nofollow">Flats for sale in Vadapalani</a><br /><a href="https://appaswamy.com/luxury-homes-in-chennai/" rel="nofollow">Premium apartments in Chennai</a><br /><a href="https://appaswamy.com/luxury-homes-in-chennai/" rel="nofollow">Luxury Homes in Chennai</a>dhanuhttps://www.blogger.com/profile/12107042256342116160noreply@blogger.comtag:blogger.com,1999:blog-1752771132348583018.post-53909545084646260532020-10-31T00:20:53.466-05:002020-10-31T00:20:53.466-05:00Nice post. Home lifts
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People should also know about mortgage loans. your blog seems really nice regarding loan. Keep sharing with us. <a href="http://www.adammortgage.com/Loan-Process" rel="nofollow">Mortgage Calculator Houston</a>Mortgage Companies Houstonhttp://www.adammortgage.com/Loan-Programsnoreply@blogger.comtag:blogger.com,1999:blog-1752771132348583018.post-43642683743767529152015-10-24T11:10:54.745-05:002015-10-24T11:10:54.745-05:00As a landlord I am going to speak completely off t...As a landlord I am going to speak completely off the cuff based on my experience. It is baffling that rents are skyrocketing when there is so much inventory. A few years back a tenant would move out and I would list the apartment. I would have ample time to prep the apartment while I waited for a prospective tenant to come along and negotiate a price based on the few comps in the area; it would take a couple of weeks or maybe a month until the new tenant was in place. The new tenant would often stay a year or two. It was always predicable, perhaps a young couple would move in until they saved enough to buy a home; or perhaps a single person would move in and then move out to a bigger place after getting married. It pretty much never strayed from these situations. The tenant’s behavior was always the same too, they lived practical. They had practical house hold items like an old stereo or small TV, hand me down appliances and practical cars. <br />Fast forward a few years and it is now completely different. There are more comparable apartments in the same neighborhood and prices are higher than ever. Here is the thing that baffles me, I can move a new tenant in on the same day the old one moves out. There is no longer a wait, there is no longer a negotiation. It is amazing, there is absolutely no stress involved for me at all. The apartment is often rented a day or two after being listed and the new tenant often states that their old apartment is also already rented. Here is what I noticed about tenants these days, they have no savings and lower credit ratings than renters had a few years back. I guess this is a sign of the times. I live on Long Island where young people are leaving in droves because they simply can’t afford homeownership, it’s definitely a lofty goal these days. I understand that but I have also noticed that tenants are no longer practical. They move in with giant HD flat screen TV’s accessorized with sound bars and multiple gaming units. The cars are not even close to practical anymore. I live in a neighborhood where Mercedes and BMW’s are parked in the driveways of rental properties, while the driveways of homeowners are filled with Toyota’s and Chevy’s. In my opinion the price of TV’s and cars has become so affordable that tenants seem to prefer these luxury items over owning a home, making the apartments easy to rent at a higher price.<br />JG<br />Anonymoushttps://www.blogger.com/profile/08691262822866486166noreply@blogger.comtag:blogger.com,1999:blog-1752771132348583018.post-10245516412834821922015-05-24T10:20:20.571-05:002015-05-24T10:20:20.571-05:00While rental costs may be going up within these ci...While rental costs may be going up within these cities, it does open an opportunity for them to consider homeownership. Being a home owner has several perks .......<br /><br /><a href="http://www.primusplace.co.uk/" rel="nofollow">Best student accommodation in Leicester</a> | <a href="http://www.primusplace.co.uk/" rel="nofollow">Cheapest student accommodation in Leicester</a>Alex kenhttps://www.blogger.com/profile/07295354966241785684noreply@blogger.comtag:blogger.com,1999:blog-1752771132348583018.post-48939048867346636432015-03-29T19:48:00.865-05:002015-03-29T19:48:00.865-05:00With a rise in renters and a rise in quantity, the...With a rise in renters and a rise in quantity, there is an increased demand for renters. However, in order to best understand this market, we also should consider what is going on with home ownership. Renting and home owning could be considered substitute products. The book discusses an equilibrium point where individuals and families could determine which choice makes the most financial sense. And while that calculation is indeed accurate from an economic standpoint, it doesn’t take into account other factors that control the housing market. Since the housing bubble burst, banks have tightened lending standards. In some cases, what the banks are doing is a trickle-down effect of new government regulation designed to prevent another housing market collapse. Many people who would be better off in a long-term economic standpoint can’t get mortgages, and are therefore forced to rent. The cost of rent may stay higher in the short term. However, if conditions remain the same, the long-term effect will be a drop in prices as more suppliers will continue to enter the rental industry.<br />MDPnoreply@blogger.comtag:blogger.com,1999:blog-1752771132348583018.post-10299763980293510342015-03-27T17:56:00.480-05:002015-03-27T17:56:00.480-05:00According to rent statistics, rents continue to ri...According to rent statistics, rents continue to rise across cities more than inflation and income growth. Tight credit is one of the factors that keep potential house buyers in the rental market in an improving economy. Although the market has shifted to the landlord's favor (statistics this past February show that in New York city alone the median rent rose 3.4 percent after adjusting for inflation) and housing has become more expensive, the survey found that the median household income for all renters only rose by 1.1 percent. The study also found that 30 percent of the renters were 'severely rent burdened', which according to housing-analysts means when rent and utilities equals more than half of the household's income.<br />According to a report from NY Furman Center 2/2015, rising rents are affecting more middle-income renters. In Chicago, Houston and Boston, income grew faster than rents, but in Los Angeles and in NY City, the median rent grew over 10% while the median renter’s income remained the same or even declined. Rents were less affordable for low-income renters whom could only afford no more than 11% of available units.<br />(2015). NYU Furman Center and Capital One Release National Affordable Rental Housing Landscape Highlighting Rental Housing Trends in America’s Largest Cities. Retrieved from http://furmancenter.org/files/pr/CapOneNYUFurmanCenter_PressRelease_9FEB2015.pdf<br /> (2015, Feb, 09) http://furmancenter.org/NationalRentalLandscape<br />Anonymoushttps://www.blogger.com/profile/15784252082596292319noreply@blogger.comtag:blogger.com,1999:blog-1752771132348583018.post-30329355092888353892015-03-26T19:03:46.206-05:002015-03-26T19:03:46.206-05:00The increase in both rents and the number of rente...The increase in both rents and the number of renters is an indication that the demand curve for rental homes has shifted. Demand for a product can change for reasons that are controllable by the industry, as well as for reasons that are uncontrollable. Lower income levels would be an uncontrollable factor for the housing industry. Normally, if the demand for a product increases it reflects a decrease in price of that product. When the demand decreases it is due to an increase in price. When price and quantity demanded of a product both increase, that indicates a shift in the demand curve of that product. The same is true when price and quantity both decrease. Both the demand and the price of rental property have increased, indicating a shift in the demand curve. Both the demand and cost of mortgages have decreased, indicating a shift in that demand curve as well. <br /><br />The number of renters has been increasing, which has led to an increase in demand, as noted in your blog. Why is this the case when the mortgage rates are low? Rental homes are an Inferior Good. An “inferior good” is defined as a product that experiences a decreasing demand with an increase in income. When income is down, then the number of renters increases, so the demand for home rentals also increases. This causes the demand for mortgages to decrease. Mortgages are a superior good, so the demand for mortgages increases with higher incomes and decreases with lower incomes. The decrease in average income that resulted from the latest economic collapse has created a shift in the demand curves for rental homes because they are inferior goods, as well as for mortgages because they are superior goods. The two demand curves have an interesting relationship because they are dependent upon each other. The consumer has to make a choice between renting or buying and they are mutually exclusive choices (for primary residence). When the demand for rentals is up, the demand for mortgages is down, and vice versa. <br /><br />Froeb, L.M., McCann, B.T., Shor, M., Ward, M.R. (2014) Managerial Economics: A problem solving approach. Third Edition. South-Western Cengage Learning: Mason.<br />Anonymoushttps://www.blogger.com/profile/12616745100933751863noreply@blogger.comtag:blogger.com,1999:blog-1752771132348583018.post-87777191162919181402015-03-22T19:51:46.276-05:002015-03-22T19:51:46.276-05:00Renting the apartment becomes an inelastic demand....Renting the apartment becomes an inelastic demand. People will need housing no matter what and because of the economy and not being able to save money for a down payment, they are forced to rent. So as the demand for housing increases as does the price causing a shift in the demand curve. This will determine a different and higher equilibrium price, which will ensure that the owner of the property are receiving the maximum return on profit. This will also effect the supply curve because as more people are searching to rent, the number of rentable properties will decrease. So as supply goes down, the demand continues to increase, the price will continue to increase. Laceyhttps://www.blogger.com/profile/07094467703708415911noreply@blogger.comtag:blogger.com,1999:blog-1752771132348583018.post-6877508342309922632015-03-08T19:56:11.164-05:002015-03-08T19:56:11.164-05:00In the video lecture, “Industry Analysis” which ac...In the video lecture, “Industry Analysis” which accompanies Chapter 8 from Managerial Economics: A Problem Solving Approach, it is explained that adjustments to equilibrium price takes time in some markets. <br /><br />According to Rosen and Smith, the demand for rental stock is usually assumed to depend upon a variety of variables - such as the number of families, tendency of the population to form nonfamily households, and age composition of the population, which we can refer to as demographic variables. Other factors that impact rental stock are permanent real disposable income, the price of rental accommodation, the user cost of owner-occupied housing, the price of alternative goods and services, the cost and availability of mortgage credit, and consumer preferences, based on Rosen and Smith’s research. All of these factors make up demand and supply functions, which interact to determine the level of rents and the stock of vacant rental units.<br /><br />In the rental markets described here, the “supply” of apartments can be determined by dividing the number of apartments for rent for the particular geographical area and dividing it by the number of apartments rented out in one month for the same area. An increase in renters causes the inventory of available apartments to drop. Renters then need to make the decision to pay the premium prices or seek an apartment in another demographic (or make adjustments to any of the other factors described by Rosen and Smith).<br /><br />References:<br />Chapter 8 Video Lecture; Managerial Economics: A Problem Solving Approach<br />https://www.youtube.com/watch?v=_u7yrtS3tGw<br /><br />Kenneth T. Rosen and Lawrence B. Smith, The Price-Adjustment Process for Rental Housing and the Natural Vacancy Rate; The American Economic Review, Vol. 73, No. 4 (Sep., 1983), pp. 779-786 <br />JohnBottini - ESChttps://www.blogger.com/profile/15902987604720852803noreply@blogger.comtag:blogger.com,1999:blog-1752771132348583018.post-35252885063754985672015-03-06T10:02:27.568-06:002015-03-06T10:02:27.568-06:00There seems to be a shortage of housing among the ...There seems to be a shortage of housing among the low income earners. Families that earn low income or even some middle income earners spend a large portion of their income on housing/rent, which leaves them with little for food, clothing, medical expense and other necessities. Hence, the big concern is not necessarily the increase on the increase of rental apartment, but the reduced spending level on other basic necessities. One of the reasons for increase in renters is due to the crash in the housing market and as a result financial intuition, like Banks, Mortgage Company, etc. has changed their standard of lending. This is what makes it very difficult and sometimes impossible for even some middle income earners to purchase their home. Therefore, we can safely say as the demand for housing raises the price for housing rises as well. Also the supply for affordable apartments continues to decrease and decline as landlords find it to be more beneficial and worthwhile to convert apartment that was formerly subsidized by government into market rate apartment and, posh condominiums. The annual market analysis for proposed 2014 - 2015 rents resulted in a recommendation that average rents for incoming residents across the portfolio increase 5 percent relative to the prior year. (Harvard Business Review - January 2014)<br /><br /><br /><br />Reference:<br />1. Frobe, McCann, Ward and Shor (2014) Managerial Economics – A Problem Solving Approach. <br /><br />2. Carliner, Micheal. (2014) Harvard Business Review<br /><br />Anonymoushttps://www.blogger.com/profile/09387293888716352043noreply@blogger.com