The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sector this year, spiked on Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
J.P. Morgan's chief quant says oil prices would start to hurt stock prices when they hit the $80 to $85 range.Market Insiderread more
Walmart said Monday it's relaunching the once-beloved trendy New York fashion brand, Scoop NYC, on its website nationwide and in select stores.Retailread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
The American Dream used to include home ownership as a given, but it has gotten shaky of late.
With so much instability in the real estate market, not to mention high unemployment and tight credit, renting has seen upticks around the country. In many cases, this represents a show of caution in the face of economic distress; people are loath to buy in a weak market, or they can’t get a mortgage.
Trulia.comprovided a list of the top ten American cities with the largest increases in rentals by comparing change from the third to the fourth quarters of 2010. Additional data, including unemployment, median incomes, home values and rents is from City-data.com.
By Colleen KanePosted 3 Mar 2011
Rise in renters: +5%
San Diego statistics:
Median income: $59,901
Median house or condo value: $445,500
Median rent: $1,242
The vacancy rate for rental apartments in San Diego went down to 4.6 percent in the last quarter of 2010, from 5.0 percent the previous year, according to data from the property research company Reis. Home prices in the San Diego metro area are expected to rise 3.5% this year, according to a forecast from Real Estate Solutions.
Rise in renters: +6%
Median income: $34,203
Median house or condo value: $ 101,400
Median rent: $745
Many rental properties in Memphis are owned by out-of-towners, says Jim Reddy of Memphis Investment Properties, in an article in the Memphis Daily News. He puts his own company’s extra-Memphis owners at about 80 percent, including investors from New Zealand and Australia. The article also notes that in January the average home in Shelby County sold for $50,000 or less.
Rise in renters: +6%
Median income: $49,779
Median house or condo value: $175,600
Median rent: $811
It’s a good time for investors in rental properties and not so good for renters in Charlotte, because increased occupancy in rentals means fewer enticements, higher rents, and possibly even shortages, The Charlotte Observer reported last month.
Rise in renters: +6%
New Orleans statistics:
Median income: $36,468
Median house or condo value: $192,600
Median rent: $882
The picture painted by the Department of Housing and Urban Development is not a bright one. Median rent has increased since Katrina—from $662 to $882 (adjusted for inflation). Supply of available, intact rentals plummeted after the storm, so perhaps this increase in rentals is a good sign for a troubled city.
Rise in renters: +6%
Median income: $47,415
Median house or condo value: $230,100
Median rent: $833
When single-family homes won’t sell for significantly less than their purchase price, many owners turn to renting them out, notes the Worcester Business Journal. The renters of these homes, in turn, are those reluctant to enter this home-buying market, and the high-end rental market has seen an uptick as well.
Rise in renters: +8%
Median income: $38,807
Median house or condo value: $165,700
Median rent: $756
The Columbia housing market continues to “remain in hibernation” until the third quarter of this year, according to studies by Fiserv and Moody’s Economy.com cited in a report by The Mather Company. Prices are expected to drop before possibly stabilizing by year’s end.
Rise in renters: +9%
Median income: $30,075
Median house or condo value: $84,400
Median rent: $668
It’s the same old story you’ve heard in other cities: buyers are reluctant to risk buying in Syracuse, and New York’s loss of residence is being felt in this city, which has more than the usual amount of vacancies, says Housing Predictor.
Rise in renters: +10%
Median income: $52,677
Median house or condo value: $196,300
Median rent: $919
Houses are being built in Bakersfield, and perhaps they’ll even be owned by their occupants: Kern County had the most housing starts in 2010 of the Central Valley markets, reported Bakersfield Economic and Community Development. In addition, the U.S. Department of Housing and Urban Development forecasts: “Increasing population and a slowdown in the shift to homeownership are expected to support the demand for 2,400 new market-rate rental units during the next 3 years.”
Rise in renters: +11%
Median income: $38,694
Median house or condo value: $143,800
Median rent: $714
The number of homes for sale in Greensboro has decreased by 12% from a year ago, and the number of newly listed homes is down by 22%, according to the Greensboro Home Market Report.
Rise in renters: +16%
Median income: $32,325
Median house or condo value: $92,900
Median rent: $602
Rents are up and vacancies down—so goes the by-now familiar report from The Blade in Toledo, Ohio. Vacancy rates are down at year’s end to 7.7% from 10 earlier last year. This is attributed to the region’s high foreclosure rate.