John Burns
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Bad news for U-Haul.57% of apartment tenants are renewing their leases, partly because entry-level home buying is so low.
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23 Comments
David R. Holley
1w
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Elections have consequences!
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Carla Earhart
Housing Educator / Scholar / Advocate (specializing in Multifamily Rental Housing)
1w
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Could the low turnover be a reflection that these residents enjoy where they are currently living?
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Jon Anderson
Small Business Owner
1w
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I own a moving and storage business and it’s been a horrible two years. Housing market has came to standstill.
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Ben Ketel
Tailwind Investment Group
1w
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Well in an economic contraction, and rent control environments, saying put and eating the nominal rent increase is a better option for tenants.
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Armand Aghadjanians
Self-Storage Investors & Third-Party Managers | RHWCapital.com | StoreHere.com | SiteHawkRMS.com
1w
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Hi John— curious if you’ve seen U-Hauls financials since they are a REIT to confirm.What’s the best source you’ve seen for moving data?Saw someone else explain that current oversupply of new apartments have been absorbed at a quicker than anticipated pace because of pent up demand.Thanks for posting! Just trying to learn more about mover patterns since it’s so consequential to our sector (self-storage)
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Jorge Becerra
Loan Officer / Cell 626-665-3586 /Specialist in: Loans for all 50 states / NMLS 197726
1w
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Don't most Apartment leases go to month to month after the 1st year? Making the data not quite as sticky. Or are the renewals based on brand new 1yr leases?
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Bob Teglia
Certified General Appraiser at Rocket Commercial Real Estate Services
1w
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I had no idea "normal" turnover was actually that high. What a miserable business. Why doesn't every multifamily owner just sell and switch to "real" commercial assets?!? Why deal with the consumer when you can have a rational tenant that is there to make money rather than take yours?
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Paul Morgan
Senior Vice President, Head of Data Science & Research at Carmel Partners
1w
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Interesting that mortgage rates were at all-time lows in 2021 and the turnover rate was the same.
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Katya D.
🟣 SCALE YOUR SALES WITH AI 💻 Founder @ AI Marketing Hub | Top 1% Upwork Expert Vetted 📈 | 8+ Years Supercharging Business Growth. Speaks English, Spanish, French, International Team
1w
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Interesting statistic! It appears to reflect not only on the state of the real estate market but also on the changing tenancy and moving industry dynamics.
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