From: Bentley Real Estate Group
Date: October 15, 2024
Subject: BREG Weekly Newsletter - 10/15/24


Latest Stories

Young Homebuyers Flock to Affordable Cities
A growing number of young homebuyers are moving to affordable cities like Toledo, OH, and Grand Rapids, MI, driven by lower housing prices and better job opportunities. In contrast, expensive cities like San Francisco and Los Angeles are seeing an outflow of younger buyers. These migration trends are influenced by affordability issues, with remote work allowing people to live farther from high-cost urban centers. (Link Here)

Momentum in Housing Market is Positive
Eddie Shapiro, CEO of Nest Seekers, shares a positive outlook on the U.S. housing market despite challenges from high mortgage rates. He highlights resilient buyer demand, with people continuing to purchase homes even at higher costs. Shapiro notes that limited inventory and demographic trends, such as millennials entering peak home-buying years, are keeping the market active. (Link Here)

U.S. Office Property Market May Be Nearing Bottom
Greg Friedman, CEO of Peachtree Group, suggests that the U.S. office market may be close to bottoming out after a prolonged downturn caused by the remote work shift. While vacancy rates remain high in many cities, he sees signs of stabilization, especially in markets where companies are adopting hybrid work models. The recovery could be slow, but investors may start looking for opportunities in distressed office properties. (Link Here)

Key Terms and Concepts:
- Affordability: Refers to the cost of living in a city relative to average incomes. More affordable cities attract younger buyers who can no longer afford major urban hubs.
- Inventory: The number of homes available for sale, which affects pricing and buyer demand. Low inventory can drive up prices.
- Vacancy Rates: The percentage of unoccupied office or residential space, a critical measure of real estate market health.
- Hybrid Work: A mix of remote and in-office work, which is reshaping demand for office space.

Learn Real Estate Financial Modeling:
 

Wall Street Prep's Real Estate Financial Modeling: This course begins with the foundations of real estate finance and excel best practices, adding complexity piece by piece. By the end of the program, learners will build complete, industrial grade multifamily, office, retail and industrial models, including in depth treatment of the modeling of revenues, operating expenses, capital improvements, debt, and joint venture waterfalls. (Link Here)

REFM's Excel for Real Estate Certification Levels 1, 2 and 3 Bootcamps: In this 3-course set of hands-on-the-keyboard Excel for Real Estate Certification preparatory materials, you will learn a diverse set of techniques and topics related to Excel, real estate finance, and equity joint venture partnerships and investment waterfall modeling for single property transactions.  You will follow along in Excel and perform exercises to ensure you are grasping the concepts and mastering the skills being taught. (Link Here)

Upcoming Events:

October 30 - BREG's Networking Night (7:00pm @ LaCava 325ABC)

November 20 - Unwind with BREG (Time & Place TBD)

Officers
President - Elie Safi
Vice President - Adam Fuller
Vice President - Sam Walters
Treasurer - Kartikey Brahmbhatt
Marketing Chair - Adithya Vaswani
Research & Education Advisor - Calvin Monte
Research & Education Advisor - Lorenzo Lopez
Freshman Liason - Grace Taylor
Freshman Liason - Natalie Barrett
Senior Advisor - James Mullen
Senior Advisor - Henry Bourgeois