We have breaking news on the housing front now. Diana Ol with the details. Hey D. Hey Scott.Yeah, the Federal Trade Commission just announced it is suing Zillow and Redfin over what it alleges is an unlawful agreement that eliminates Redfin as a competitor in the market for advertising rental homes on internet listing services. That's ILSS. That's like the MLS for rentals as opposed for home buying, the websites renters use to find listings.Now, Redin and Zillow operate two of the largest rental ILS network ...

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Renting a home now saves nearly $400 per month compared to owning, according to new analysis, sharpening the debate over whether the American Dream of homeownership still makes financial sense. Financial planner Kirk Reagan calculated that on a $430,000 home with a 6.75% mortgage rate, property taxes, insurance, and maintenance push total costs close to $2,950 a month. Renting a comparable property came in ...

Core Insights - The financial gap between renting and buying is narrowing in many U.S. metropolitan areas, indicating a shift in the affordability landscape [2][3] - The median asking rent for 0-2 bedroom units has decreased by 2.1% year-over-year to $1,711, while rents remain elevated compared to pre-pandemic levels [1][2] - Despite the decline in rents, renting is still more affordable than buying in 49 out of 50 major metros, with Austin, Texas, showing the largest disparity [3][5] Rental Market Overview - The U.S. median rent in June 2025 was only $48 (2.7%) below its peak in August 2022, but still $268 (18.6%) higher than June 2019 levels [1] - Across the 50 largest metros, median asking rents have decreased by $36 (2.1%) from the previous year, with all unit sizes experiencing declines [2] - The average monthly savings for renters is now $908, down from $956 a year ago, suggesting that buying costs are approaching rental costs [3] Top Markets Analysis - Austin, Texas, has the highest monthly savings for renters, where buying costs 114.7% more than renting, while other major markets like Los Angeles and San Francisco also show significant differences [4][5] - San Jose, California, has seen a reduction in monthly savings for renters, indicating a diminishing advantage over buying [5][7] - Markets like Birmingham, Alabama, and Memphis, Tennessee, are showing increasing advantages for renting, highlighting rapid changes in local market dynamics [8][9] Local Market Trends - Pittsburgh is the only major metro where buying a starter home is cheaper than renting, but this trend may change as the market evolves [5] - The rental savings in San Jose have decreased by $349 over the past year, reflecting a shift in the rental landscape [5][7] - Other metros, such as Milwaukee and Oklahoma City, are also experiencing increasing advantages for renting, with significant year-over-year changes [8][9]

Core Points - The Shandong Provincial Real Estate Association is organizing a "Graduation Season Rental Festival" to support college graduates in finding rental housing within the province [1][5] - The rental discount activities will run from the graduation season of 2025 until September, aiming to alleviate the rental burden on graduates [5][3] - Various housing rental institutions and agencies are encouraged to provide discounts and benefits to graduates, including reduced rent, deposit waivers, and commission discounts [5][9] Group 1: Event Overview - The "Graduation Season Rental Festival" is designed to meet the rental needs of graduates and support their employment and entrepreneurship within Shandong [3][5] - The event will involve housing rental institutions and agencies offering various forms of rental discounts, such as rent reductions and flexible payment options [5][6] Group 2: Specific Offers - Silver Me Apartment in Jinan offers a 4% discount on rent for graduates, with a 50% discount on the deposit until August 31, 2025 [6] - Huangtai Youlai Youth Apartment provides a 10% discount on rent for graduates and interns, with a flexible payment option of one month’s rent upfront [6] - Various other apartments, including Jingyue Garden and Marriott International Apartment, are also offering similar discounts and benefits for graduates [6][7] Group 3: Institutional Participation - The Shandong Provincial Real Estate Association emphasizes the importance of selecting reputable rental institutions for the event, ensuring compliance with laws and regulations [9][10] - A list of participating rental institutions and their contact information has been provided for graduates seeking rental options [10]

Core Insights - The trend of "wealthy renters" is rapidly increasing across multiple cities in the U.S. as high-income individuals opt for renting over buying due to rising housing costs [1][3] Group 1: Rental Trends - From 2019 to 2023, the proportion of high-income residents choosing to rent has significantly increased in major metropolitan areas [3] - In cities like San Jose, California, the median home price has surpassed $1.4 million, making renting a more financially viable option, costing about 10.5% of annual income compared to over 21% for buying [3] - Cities with high proportions of wealthy renters include San Jose, Orlando, San Francisco, New York City, and Seattle [3] Group 2: Economic Factors - In contrast, smaller cities in the Midwest and Northeast, such as Oklahoma City and Cincinnati, have lower proportions of high-income renters [4] - Redfin defines "high-income renters" as those in the top 20% of local household income, with an example from Pittsburgh where an income over $145,000 is nearly four times the local home-buying threshold [4] - Factors influencing the preference for renting include rising home purchase costs (median required income for buying has increased by 36.9% since 2019, while rent has only risen by 28.1%) and high mortgage rates nearing 7% [4] - High-income individuals prefer to invest liquid assets in higher-return projects rather than locking them into real estate [4]

Financial Data and Key Metrics Changes - The company reported record quarterly revenue of $39.4 million, a 10.2% increase from the previous year [8][12] - Net Operating Income (NOI) increased to $21.8 million, reflecting an 8% rise year-over-year [8][12] - Adjusted Funds from Operations (AFFO) rose to $8 million, a significant 36% increase due to strong leasing activity [8][12] Business Line Data and Key Metrics Changes - Residential revenue increased to $29.2 million, up by $3.1 million, driven by strong leasing across all properties [12] - New lease rental rates exceeded previous rents by over 15%, while renewals increased by 8% [9][10] - Occupancy rates across residential properties reached 99%, with overall rent per foot rising significantly [9][10] Market Data and Key Metrics Changes - The overall rental housing supply remains constrained, contributing to high demand and record rental rates [9] - Rent collections across the portfolio remained strong, with collection rates nearly at 98% for all residential properties [11] Company Strategy and Development Direction - The company is focused on optimizing occupancy, pricing, and expenses to position itself for growth [11] - Plans include finalizing the sale of 10 West 60 Fifth Street and the lease renewal for 141 Livingston Street [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued strong residential leasing due to high demand and limited supply [9] - The company anticipates that the current operating improvements will persist through early 2025 [20] Other Important Information - The company refinanced a construction loan for 953 Dean Street, securing $160 million, which includes $18.2 million in excess proceeds for operational needs [6] - A dividend of $0.95 per share was announced for the first quarter, consistent with the previous quarter [17] Q&A Session Summary Question: Comments on the 141 Livingston lease renewal - Management indicated that no tenant improvements are necessary for the renewal and expects to finalize the proposal in the coming weeks [22]