RentWire

White House announces long-awaited updates to Opportunity Zone rules

Clarifies regulations to encourage more development
The Treasury Department released a second round of rules clarifying requirements for Opportunity Zones recently in a move designed to encourage more development in low-income areas. The new rules are intended to make it easier for developers looking to take advantage of the tax breaks promised by investing in Opportunity Zones, and clear up some of the confusion that was holding investors back.
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Where do renters want to live?

Here are the most desirable rental markets
Earlier this year, a report from CBRE showed that there were more apartments built last year than in almost any other year since the 1980s. The report also showed where those apartments are being built, with the majority of the development coming from the top 20 markets. But are builders building where renters actually want to live? Do they really have their collective finger on the pulse of the renter? Yes and no, as it turns out.
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Boston Globe: A battle is brewing in Beantown to bring back rent control

A statewide referendum abolished it 24 years ago
A rent control battle is fermenting in Boston, 24 years after the practice was abolished in a statewide referendum. Althea Garrison, who became an at-large city councilor in January to replace a member elected to the U.S. House of Representatives in the midterms, introduced a measure this week to cap the amount landlords can charge for apartments.
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Harris reintroduces rent relief legislation

Proposal would provide monthly tax credit to renters
Sen. Kamala Harris has introduced a new version of the Rent Relief Act, a sweeping rent reform proposal that seeks to help Americans lessen the burden of finding affordable housing, especially at a time when rents keep increasing. If passed, the bill will create a new tax credit for renters who spend at least 30% of their gross income on rent and utilities.
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Capital Economics: Rental growth may see modest declines

Latest report says rental growth will fall back as earnings cool down
Economists at Capital Economics noted in their latest housing market report that they expect that the gradual loosening in market conditions to mean rental growth is set to cool down. "Our profile for rental and house price growth implies that gross rental yields will rise slowly over the next three years, from 6% today to around 6.3% by the middle of 2021," the firm writes.
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Zumper: Dwindling supply, job migration driving up San Francisco rents to all-time high

Median monthly rent in the Bay Area for a 1-bedroom unit is now $3,700
In the Bay Area, rent for a one-bedroom unit just reached a record high of $3,700, according to apartment search site Zumper. "As we get into the spring months and the beginning of the hot moving season, we only expect this number to continue to rise," Zumper said in its report.
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