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Yahoo
an hour ago
- Yahoo
Rise of ‘accidental landlords' having serious impact on America's housing supply — what owners and renters need to know
As mortgage rates remain stubbornly high and home affordability out of reach for many buyers, a new type of rental competition is emerging in some of the country's hottest housing markets. 'Worsening for-sale supply-demand conditions are creating new institutional competitors: accidental landlords,' notes a recent report by Parcl Labs. These 'accidental landlords' are homeowners who tried to sell but couldn't fetch the price they wanted — and instead have decided to rent out their homes until conditions improve. "When these home sellers cannot find buyers, they face three choices: delist and wait, cut price to find market clearing level, or convert to rental. The last option creates what Parcl Labs terms 'accidental landlords': owners who enter the single-family rental market not by design but by necessity," the Parcl Labs researchers wrote. It's a growing trend that may be quietly disrupting the single-family rental market and putting pressure on big institutional landlords like Invitation Homes, American Homes 4 Rent and Progress Residential. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) You don't have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here's how Where it's happening The phenomenon is most concentrated in the same metros where institutional landlords have historically built up large portfolios: Atlanta, Dallas, Houston, Phoenix, Tampa and Charlotte. According to Parcl Labs, those six cities represent 36.8% of all institutional single-family rental holdings nationwide. But these same cities are now seeing home listings pile up, leading to a surge in homeowners pulling their listings and turning them into rentals instead. Houston and Dallas saw the biggest increases in homes that failed to sell and were converted into rentals, followed by Tampa, Phoenix and Atlanta. Charlotte, an outlier, actually had a modest decline in the number of homes that failed to sell. Meanwhile, single-family inventory is up sharply too year-over-year, averaging a 32% increase in those key cities. This trend is part of a broader reshuffling of the U.S. housing market, where fewer people are able or willing to sell due to high mortgage rates. Many owners who bought or refinanced during the pandemic at sub-4% interest rates are reluctant to sell and take on a new loan at 7% or more. That so-called "lock-in effect" is forcing a growing number of people to become landlords by default. Investors large and small now make up about 20% of all single-family home purchases across the country, the Associated Press recently reported. That's what is creating these unusual competition dynamics between households and institutional investors alike. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it Why this matters for renters (and investors) Accidental landlords can be a disruptive force precisely because they tend to have different priorities than professional investors. "Unlike institutional operators who use sophisticated rent optimization strategies, accidental landlords typically price units simply to cover costs," the Parcl report explains. "This dynamic creates downward pressure on rents exactly where institutional investors have concentrated their portfolios." In other words: Mom-and-pop owners are competing for tenants in the same neighborhoods as investors and corporate landlords, and in many cases, undercutting them. In the short-term, this means many renters may see cheaper rent and lower yearly rental price hikes. On the flip side for investors, this means profit margins in these geos may not see major upside in the short-term. This shift could further strain profitability for big players in the single-family rental space, especially since many of them have become net sellers over the past year. According to Parcl, 76.7% of institutional net selling happened in just the six metros above, with Atlanta and Dallas topping the list. With prices expected to remain flat or decline over the next year, institutional investors appear to be building up cash in anticipation of picking up some acquisition targets. As time passes, these accidental landlords could become highly incentivized to sell off to institutions or other mom-and-pop real-estate investors looking for a good deal. What to read next Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here's how Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Sign in to access your portfolio
Yahoo
6 hours ago
- Yahoo
These 11 companies have left California over the years
Big companies continue to leave California. Overall, research shows the number of companies leaving is small. But the departures include some of the nation's largest companies. Big companies continue to leave California. Some executives, including Tesla's Elon Musk and Palantir's Alex Karp, have made it abundantly clear why they left. "This is the final straw," Musk wrote on X in 2024 after Gov. Gavin Newsom signed a bill into law that barred school staff from informing parents of a student's gender identity. The number of companies leaving California is small. According to a 2025 report from the Public Policy Institute of California, only 3% of firms in California moved to a different state. However, larger companies are more likely to leave than smaller ones. Outside of businesses, people, too, have been leaving California at a high rate. US Census data from October 2024 showed nearly 700,000 people left California between 2022 and 2023. Lifestyle and affordability were the main factors for moving elsewhere. Company relocations are trending upward. Business Insider compiled some of the biggest names so far. McKesson Corp. Pharmaceutical giant McKesson left California in 2019. In terms of public companies, only Apple loomed larger in the Bay Area. Then-CEO John H. Hammergren said that McKesson was moving its headquarters to Las Colinas, Texas (near Dallas) to "improve efficiency, collaboration and cost-competitiveness, while providing an exceptional work environment for our employees." McKesson remains the highest-ranking Fortune 500 company to leave California in recent years. Chevron Oil giant Chevron had deep roots in California, going back to the 1870s when an early predecessor discovered oil north of Los Angeles. That didn't stop the company from moving to Houston in 2024. Looking back on its move, the energy giant says that California's leaders have taken steps that made it "unappealing." "While our relocation has very real benefits to our business, we also believe California policymakers have pursued policies that raise costs and consumer prices, creating a hardship for all Californians, especially those who can least afford it," Ross Allen, a spokesperson for Chevron, said in a statement to Business Insider. "These policies have also made California investment unappealing compared with opportunities elsewhere in the US and globally." Tesla Like some of his fellow tech CEOs, Elon Musk grew frustrated with the limitations of the Bay area before Tesla left for Austin in 2021. "There's a limit to how big you can scale in the Bay Area," Musk said at the time. Before the move, Musk had also clashed with officials over keeping Tesla's Fremont, California, factory open despite COVID-19 orders. Oracle In 2020, Oracle left its longtime home in California. The computer technology giant isn't done moving yet. Last year, CEO Larry Ellison said the computer technology giant would move its headquarters from Austin, where it had been for less than half a decade, to Tennessee. "Nashville is a fabulous place to live," Ellison said, according to an Associated Press report. "It's a great place to raise a family. It's got a unique and vibrant culture .... It's the center of the industry we're most concerned about, which is the health care industry." CBRE Global real estate company CBRE monitors the number of companies leaving California. The firm itself left Los Angeles in 2020. "Designating Dallas as CBRE's global corporate headquarters formalizes how our company has been operating for the past eight years," Lew Horne, head of operations in the Southwest, said in a statement to the Los Angeles Times in 2020. Charles Schwab Charles Schwab left for Westlake, Texas, in 2019 after it agreed to buy Omaha-based TD Ameritrade. Schwab chairman and founder Charles Schwab singled out the business climate in California as motivation for the move: "The costs of doing business here are so much higher than some other place" he told Forbes. The companies said in a joint statement that their new home would "allow the combined firm to take advantage of the central location of the new Schwab campus." In 2023, SFGate reported that Schwab further reduced its presence in San Francisco, its former home. "We've had an extremely positive experience in Texas," a spokesperson from Schwab said in a statement to BI. "From day one, the energy, innovation, and welcoming spirit of North Texas has far exceeded our expectations." Hewlett Packard Enterprise (HPE) In 2020, Hewlett Packard Enterprise announced it was leaving California, another COVID-19 era departure. "Houston is also an attractive market for us to recruit and retain talent, and a great place to do business," CEO Antonio Neri said in a statement announcing the move. Neri praised HPE's new home in Spring, Texas (a Houston suburb), but stressed that the company was not leaving Silicon Valley entirely. "Our San Jose campus will remain a hub for technological talent and innovation," he said. Palantir Software giant Palantir left Silicon Valley in 2020. Before the tech company moved, CEO Alex Karp said he had concerns about California. "I'm pretty happy outside the monoculture in New Hampshire," Karp told Axios in May 2020 when asked if he would move back to California as the COVID-19 pandemic was receding. Karp said at the time that Palantir was narrowing down its list of future homes, which potentially included Colorado. Palantir has been in Denver since August 2020. SpaceX Elon Musk promised to move SpaceX to Texas in 2024, part of a series of announcements that positioned his companies away from California. In announcing SpaceX's relocation, Musk singled out a California law that forbids schools from requiring staff to inform parents of a student's gender identity. "This is the final straw," Musk wrote on X in July 2024. "Because of this law and the many others that preceded it, attacking both families and companies, SpaceX will now move its HQ from Hawthorne, California, to Starbase, Texas." AECOM Global consultancy firm AECOM left Los Angeles in 2021, saying that Texas offered more benefits. "Dallas has emerged as a US hub for corporate headquarters and a compelling corporate talent magnet, particularly among our peers and public companies in the engineering and consulting sectors," a company spokesperson told The LA Times. FICO Financial data analytics firm FICO, officially known as the Fair Isaac Corporation, quietly moved to Bozeman, Montana, sometime in 2021. The company, best known for its FICO score, previously moved its corporate headquarters from Minneapolis to San Jose in 2013. It's not entirely clear why FICO left California. Read the original article on Business Insider
Yahoo
8 hours ago
- Yahoo
Smart Reads of the Week: STI Surge, MAS Capital Boost, and Long-Term Growth Picks
This week, we take a closer look at the Monetary Authority of Singapore's S$1.1 billion capital injection into small and mid-cap companies, spotlighting five stocks that may benefit. We also assess whether Singapore REITs remain a smart investment, with interest rates staying higher for longer. On the blue-chip front, we examine four Temasek-owned stocks with strong long-term potential, and track the Straits Times Index as it breaks past the 4,200 level. For income investors, we've found five Singapore stocks yielding more than your CPF OA rate. In global markets, we compare two semiconductor powerhouses, TSMC and ASML, to see which may be the better buy. We also highlight four Singapore stocks that have soared over 290% in the last five years and feature four reliable US growth stocks for investors with US$5,000 to deploy. Here are this week's top articles: MAS is Injecting S$1.1 Billion Into Small & Mid-Cap Companies: 5 Singapore Stocks That Could BenefitWith MAS directing capital into local markets, these five small-to-mid-cap stocks may be poised for gains. With Interest Rates Staying Higher for Longer, Are Singapore REITs Still a Smart Investment for 2025?We evaluate the resilience of Singapore REITs amid the prospect of extended high interest rates. 4 Temasek-Owned Singapore Blue-Chip Stocks With Solid Long-Term ProspectsThese blue-chips offer defensive characteristics and growth, backed by one of the world's most respected investors. The Straits Times Index Has Cracked the 4200 Level: Is There Room for Further Gains?STI is making new highs. We assess the outlook for further upside and the sectors leading the charge. 5 Singapore Stocks Yielding More Than Your CPF Ordinary AccountThese dividend stocks offer higher yields than CPF OA, potentially enhancing your long-term passive income. TSMC vs ASML: Which Semiconductor Giant is the Better Buy?Two global tech titans face off. We compare growth potential, margins, and strategic positioning. The Power of Long-Term Investing: 4 Singapore Stocks That Soared 290% or More in the Last 5 YearsThese stocks demonstrate what's possible when patience meets the right companies. Got US$5,000? 4 Reliable US Growth Stocks That Can Deliver Solid Long-Term ReturnsLooking to grow your wealth in the US market? These four stocks may offer strong compounding over time. As the STI hits record highs, long-term investors are asking: can dividends keep up? In this special National Day webinar, we dive into the earnings outlook for Singapore's top dividend stocks and what to expect in the months ahead. Secure your free seat here and stay ahead of the curve. How a simple 5-minute newsletter can shield your portfolio: When markets get noisy, Smart Reads helps you stay clear-headed with a calm, curated update like the week's top investing stories, key market shifts, and practical insights for protecting your portfolio. Sent once a week so you can focus on protecting and growing your investments without stressing over every headline. Click here to sign up for FREE. Follow us on Facebook, Instagram and Telegram for the latest investing news and analyses! The post Smart Reads of the Week: STI Surge, MAS Capital Boost, and Long-Term Growth Picks appeared first on The Smart Investor.
