Meredith Hobbs writes about the Atlanta legal community and the business of law. Contact her at [email protected] or 404.419.2837. On Twitter: @MeredithHobbs.
Both move-in and move-out rates in August lagged 2019 activity in a time of uncertainty, and more tenants used credit cards to pay rent, according to MRI Software's monthly report.
While earlier affordable housing analyses have shown strong income growth for renters, those figures are skewed by the influx of high-income households.
Foreclosures are "artificially low" due to federal and state moratoriums and will significantly increase when those expire, but it's unlikely default rates will reach the levels of the 2008 recession.
The national office vacancy rate jumped by 10 basis points to 17.1%. REIS forecasts that the national office vacancy rate will rise to 19.3% by year-end and peak at around 20% in 2021.
Employees want to be back in offices to stay connected to colleagues—and demand will increase for lower-cost, more accessible suburban offices with greater space for social-distancing, says Black Creek Group.