🏠 3D-printed homes & a $1 trillion Saudi sky scraper

Good news for landlords (especially across the southeastern U.S.): demand for built-for-rent single-family homes will be making a comeback — just not quite yet.

According to Forbes, rent growth slowed down in early 2023 due to a dip in consumer confidence. Those prospective renters could be waiting out the economic turmoil by bunking with friends or relatives. But come 2024/2025, they'll be so sick of hearing their mom in the kitchen banging pots and pans at 5 a.m. — plus they'll have a little more financially stability — that they'll start looking for their own place. And millennials, who've delayed starting a family into their 30s, are forecasted to begin transitioning from apartments to homes.

Research from RealPage recently showed that those who are currently renting are only spending 23% of their income — about 10% below what's advised as the max spend for housing. As the tides turn in the coming years, potential tenants may be willing to increase their budget.

SPILLING THE (REAL)TEA

These NYC landlords are feeling a bit CO2-nfused. At risk of owing millions of dollars in fines by next year, they'll need to cut down on greenhouse gas emissions stat.

Lower mortgage rates = higher homebuilder sentiment. As housing becomes more affordable in the coming quarters🤞, construction on single-family homes should pick up.

One day (sooner than we may think), we'll all be living in 3D-printed homes. The first 3D-printed, two-story house is being built in Houston, Texas, as we type.

A billion dollars here, a billion dollars there. Remember that $1 trillion Saudi Arabia sky scraper proposal? Well, it's actually under construction and supposedly set to be complete by 2030.

See that big ol' building below? Yeah, the iconic Salesforce Tower in San Francisco. Well, there is currently 15 Salesforce Towers worth of vacant office space in the city.

TIP OF THE WEEK

Don't be fooled by a bad flip. Here are five things a writer for Cubby wishes she knew before buying an 1880 Victorian with a host of issues.

1. Not all inspectors will be thorough. Ask for referrals from people you trust and make sure they have the proper licensing.

2. You should request a list of completed renovations. Ask about the structure, wiring, plumbing, foundation, insulation, damages, and so on.

3. You should also pull the permits. Make sure the so called work done to the house was actually executed.

4. And creep on the developer. Look at their previous projects, call the agents who sold their prior properties, and even contact the current homeowners.

5. Finally, ask for a home warranty. This will help safeguard you from unexpected repairs.

WHAT'S BREWING

📚 What we're reading: "Love Yourself Well: An Empowering Wellness Guide to Supporting Your Gut, Brain, and Vagina" by Lo Bosworth of Laguna Beach.

🎧 What we're listening to: This week's Trading Secrets podcast episode featuring Mauricio Umansky, founder of The Agency, a billion-dollar real estate brokerage a la the Netflix show Buying Beverly Hills.

👀 What we're watching: Christina Hall of Flip or Flop (on which she co-starred with her ex husband Tarek El Moussa) has a new show, Christina in the Country — with appearances from her new husband — that debuted on HGTV this month.

🛒 What we're adding to our shopping cart: We're sprucing up our space with some pops of Pantone's 2023 Color of the Year Viva Magenta:

Colored Wine Glass SetIbiza Bohemia Coffee Table BookBalloon Dog DecorVelvet Throw Pillow CoversLavender Scented Candle

SEEING STARS

Want to live like a celebrity? Rent one of these homes listed on VRBO or Airbnb that was previously owned/occupied by an A-lister (OK, and couple of Bs).

The Bachelor villa from Season 26 in Reykjavík, Iceland

Reba McEntire's former mansion at Cherokee Dock, Nashville

Cardi B's former Dominican Republic villa

Jack Nicholson's former Bora Bora bungalow

Sonny and Cher's former Los Angeles residence

WOMEN OF THE HOUSE

Sarah Randall, a full-time DIYer and designer, shared a few tips with us on how to navigate home improvement stores as a first-time renovator.

Do you have any go-to hardware stores that you feel aren’t too intimidating?If a project is not too huge or you need a lot of lumber, I love going to the local stores. Ace Hardware has a lot of local branches and the stores are smaller. The employees are so passionate about their jobs and love to help. I think that's probably the least intimidating if you're just getting started.

What are some of the things you do before you go shopping?I’m a total list person, so I'll make a list of what I need. Especially if we're doing woodworking, I have to do the measurements before going. I'll do the math and find out how many boards I’ll need and the particular cuts because if you cut off part of a board you can't use that scrap. So, I'll try to do all those calculations before, and then with the colors I try to create a mood board before going in so that way I'm not just standing there looking at a ton of swatches.

Do you have a favorite aisle?Either the hardware or the paint. I love looking at spray paint. When you're in the paint aisle, a lot of times that means the bulk of the project is already done; you've already built what you needed to build or done the accent wall, or whatever. It's kind of a mark of, ‘OK, you've made it, now you get to do the fun part.’

Can you share any DIY hacks?Limewash is a kind of specialty finish that looks a lot more expensive and you can actually buy limewash at Home Depot or Lowe's or wherever. It's a powder that you mix with water and you can create your own limewash for a fraction of the price. So, if you buy limewash it could be upwards of $50 a gallon and if you make it you might pay $10 for a bag that you can use for multiple gallons.

Any tips for going to a home improvement store alone?If you're alone, like when I go by myself, ask for help to load up your car, they will help you. That's what they're there for. So, don't feel like you have to manhandle 4-by-8 sheets of plywood alone.

Do you have any favorite apps or tools that are helpful?I use this website, Inch Calculator. They have a lot of resources, I usually use their wainscoting layout calculator. It tells you the exact spacing, so you just put in your wall width and then it does all the math for you.

I also have this app called ColorReader EZ. It's a little tool you can use to scan a color and it tells you on the app the exact color of paint. So, if you have a rug and you want to use one of the colors in the rug to paint a dresser, you can just scan the rug.