Short-Term Rentals, Forbearance Declining, and 9 Million Relocations!

Retirees At Odds With Short-Term Rentals in Their Neighborhood

  • Short-term rental properties are becoming more common as retirement-bound homeowners look to supplement their incomes.
  • However, once they are ready to occupy the property full-time, they can discover that living close to other short-term rentals is not appealing due to higher traffic and living next to people that they don’t know.
  • From 2015 to 2020, housing units rented on short-term sites such as Airbnb surged from 450,000 to 1 million, says, AirDNA, an analyst firm for the short-term rental industry.


U.S. Mortgage Loans in Forbearance Declines

  • The share of loans in forbearance has declined for three weeks in a row, with portfolio and PLS loans decreasing the most this week. 
  • “This decline was due to a sharp increase in borrower exits, particularly for IMB servicers,” said Mike Fratantoni, MBA’s Senior Vice President and Chief Economist. 
  • Requests for new forbearances dropped to 6 basis points, matching a survey low.


9 Million People Relocated in the U.S. Since the Pandemic Began Last March

  • According to the National Association of Realtors, 1 in 3 adults substituted some or all of their typical in-person work for telework compared to 1 in 20 adults that worked remotely before the pandemic.
  • With teleworking at record-high-levels some individuals and families are seeking bigger houses with yards for their kids and office space for them to work. 
  • Others seek more affordable homes in less dense places away from large city centers since they can telework.
  • Even with successful vaccine prescriptions, experts do not predict that we’ll return to our pre-pandemic sense of normal until late 2021. 


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