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Articles by Vince O'Neill
The ripple effect on the U.S. housing market from China's real estate crisis
The real estate market in China, both commercial and residential, have been unwinding over the last few years. Like a slow-motion train wreck at first, it is now definitively off the rails and heading over a cliff. Following a pattern eerily similar to the U.S. in 2008 and 2009. Lax lending standards and cheap credit, plus a popular belief that real estate values never decline, created a massive bubble.
CoStar rides record site traffic to $101 million profit in Q2
Despite fewer real estate transactions occurring year over year, listing giant still managed to grow during the second quarter of 2023. And more importantly, it leapfrogged Realtor.com to become the second most visited residential listing site. CoStar, best known for its commercial listing platform, recorded a 13% overall annual increase in revenue to $606 million, and a 20% yearly jump in net income to $100.52 million.
A boom(er) market on the horizon
Just the term 'baby boomer' is sure to elicit a reaction, particularly from those in younger generations. Jealousy? Maybe because those born from 1946 to 1964 hold over half of all wealth in the U.S., and they own a comparable share of residential real estate. Contrast those trends with millennials, who hold less than 5% of the wealth in the U.S. There is also the inescapable fact that all Boomers will soon be over 60 and either retired or close to it.
determining the remodel upside in older homes
Real estate investors, flippers and DIY homeowners are acutely interested in finding properties with significant upside potential. Those diamonds in the rough that with the right fixes, additions, and polish, can gain significant value. But whether it is picking the right city or the right part of town, the problem is how to find them systematically.
EasyKnock acquires power buying platform Ribbon
Residential sale-leaseback platform EasyKnock has acquired struggling power buyer and cash offer platform Ribbon. The financial terms of the deal were not disclosed. "We are thrilled to bring Ribbon and EasyKnock's cutting edge financial products together under one roof to provide more options and a competitive advantage to consumers and industry partners nation-wide," Jarred Kessler, the CEO and co-founder of EasyKnock, said in a statement.
Side's Steve Capezza on driving real estate team growth
Today's RealTrending features Steve Capezza, president of Side Real Estate. Steve joined Side in January 2023 after a career with Zillow, most recently with Zillow's Premier Agent program. Tasked with national growth for Side, Capezza talks the power of a teamerage, what brokers should understand about the model, lessons learned from Zillow and the power of community and the initiatives Side is building around that concept. Here is a small preview of today's interview with Steve.
How market dynamics impact how remodeling affects home values
While rising interest rates and low inventory continue to put the brakes on real estate sales volume, remodeling and renovation activity is strong. For a homeowner sitting on a 3% mortgage rate and substantial equity, it just makes more financial sense to upgrade their current home rather than move out to move up. While livability is usually the determining factor in a decision to remodel, most homeowners also want to know that the cost is justified by a corresponding increase in value.
How does the housing market track equity markets?
What is the relationship between the single-family real estate market and equity markets? Where are they correlated and where do they diverge? Are there insights that we can glean to help guide investment decisions? The chart below compares the standardized returns of a single-family residential real estate index (SFR) with the Dow Jones Industrial Average (DJIA), the S&P 500 Index (S&P), and the Nasdaq Composite over the past 11 years.
Opendoor and Lennar expand partnership to Miami´┐╝
National homebuilder Lennar and iBuyer Opendoor announced the expansion of their partnership into Miami on Tuesday. Lennar, the second largest homebuilder in the U.S., has been based in Miami since 1954. "Our strategic partnership with Opendoor underscores Lennar's focus on implementing technology and innovation to enhance all aspects of homebuying and homebuilding," Carlos Gonzalez, South Florida division president for Lennar, said in a statement.
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