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Read previewProspective homebuyers may be better off staying on the sidelines: the housing market is on its way to a rare buying opportunity, with steep home price declines bound for key areas of the real-estate market in the coming years, according to one analyst. That's an additional ingredient on the top, which just makes it more likely that prices fall," Gerli told BI. AdvertisementThe situation in the South's housing market also bears some similarities to previous housing bubbles, Gerli noted. In key boom towns, home prices have shot up 50%-70% since the pandemic, though incomes have only risen 10%-20%, he said, citing municipal data. It'll take a long time for housing to become more affordable overall, given how overvalued the market is, Gerli said.
Persons: , Nick Gerli, Gerli, Freddie Mac, That's, Southern homebuilders, we've, it's, Redfin, Homebuyers, It's Organizations: Service, Business, National Association of Realtors, Builders Locations: Florida, Southern, Texas
Read previewProspective homebuyers may be better off staying on the sidelines: the housing market is on its way to a rare buying opportunity, with steep home price declines bound for key areas of the real-estate market in the coming years, according to one analyst. That's an additional ingredient on the top, which just makes it more likely that prices fall," Gerli told BI. AdvertisementThe situation in the South's housing market also bears some similarities to previous housing bubbles, Gerli noted. In key boom towns, home prices have shot up 50%-70% since the pandemic, though incomes have only risen 10%-20%, he said, citing municipal data. It'll take a long time for housing to become more affordable overall, given how overvalued the market is, Gerli said.
Persons: , Nick Gerli, Gerli, Freddie Mac, That's, Southern homebuilders, we've, it's, Redfin, Homebuyers, It's Organizations: Service, Business, National Association of Realtors, Builders Locations: Florida, Southern, Texas
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHousing in pandemic boom towns up to 40% overvalued, says Reventure CEO Nick GerliHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Nick Gerli, Brian Sullivan, Organizations: CNBC
Airbnb said it had 115.1 million nights and experiences booked during the quarter, up almost 11%, but less than the 117.6 million StreetAccount consensus. In a letter to shareholders, Airbnb said the nights and experiences booked number was up against a tough comparison. "We saw an improvement in year-over-year Nights and Experiences Booked growth during the quarter from 10% in April to 15% in June," the company said. Management called for a "modest" sequential acceleration in nights and experiences booked. During the quarter Airbnb introduced Rooms in an effort to play up the appeal of affordable private bedrooms to rent out, at $67 per night on average.
Persons: Brian Chesky, Airbnb, Gross, Refinitiv, Nick Gerli Organizations: StreetAccount, Management Locations: Los Angeles, North America
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAirbnb's will not perform well in a recessionary environment, says Reventure's Nick GerliNick Gerli, Reventure Consulting Founder and CEO, joins 'Last Call' to explain his recent viral tweet claiming AirBnB is seeing declining revenue in several major markets.
Persons: Nick Gerli Nick Gerli Organizations: Reventure
Build-to-rent communities skip the intermediary and go straight to the homebuilder. While typical single-family rental strategies, pioneered by Blackstone in the aftermath of the Great Recession, are inherently tied to the housing market, build-to-rent is not. In the eyes of private equity, there's no difference between build-to-rent communities and apartment blocks. If you value Cypress Bay as an apartment building, instead of a collection of homes, Fundrise got a good deal. Fundrise is still working on deals, Miller said, with a deal pipeline stretching out to 2025.
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