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Basic Allowance for Housing Rates to Increase 5.4% in 2025
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Basic Allowance for Housing Rates
The U.S. Department of Defense has announced that Basic Allowance for Housing (BAH) rates will increase by 5.4% on average in 2025, effective January 1st. This follows a similar rise from last year, reflecting continued upward trends in the housing market across the 299 military housing areas used to set these rates.
According to Summer Britford, the allowance division chief, most military housing areas are seeing a consistent increase in rental rates, with only 4% of areas experiencing a decrease. These BAH increases are designed to ensure service members can access housing that is comparable to what civilians with similar pay grades would pay.
For real estate agents, this is significant news, especially if you’re working in military communities. With BAH rates rising, more military families will likely have increased purchasing power or be able to pay higher rents in suitable housing areas.
The department estimates it will pay about $29.2 billion in BAH to one million service members in 2025, making it a key factor in the housing market for military families.
Source: Link
Private Markets to Reach $20 Trillion
BlackRock has just released its annual Private Markets Outlook, forecasting significant growth across various sectors, including private debt, infrastructure, private equity, and real estate. The report predicts private markets will soar from $13 trillion today to over $20 trillion by 2030, driven by increased investments from pensions, insurance companies, and retail investors seeking long-term assets.
The outlook highlights a strong rebound for the real estate sector after a two-year downturn, with new opportunities emerging in areas such as energy-efficient buildings and properties that support e-commerce. As more investors look for profitable, long-term investments, real estate is expected to see a major uptick in bidding interest. Asia-Pacific, in particular, is seen as a hotspot for both cyclical and structural growth.
Mark Wiedman, BlackRock’s Global Client Business Head, noted that credit and infrastructure will see the fastest growth in private markets.
Source: Link
Florida Realtor Charged in $1.6M Fraud
New details have emerged in the arrest of a Florida realtor accused of stealing over $1.6 million from a vulnerable couple. Jason Valiant, a realtor in Volusia County, is facing charges for orchestrating a scheme to defraud a sick client. Authorities say Valiant used fraudulent documents, including a power of attorney, to gain control of the client’s assets. He allegedly spent the stolen funds on personal luxuries like dining out, clothing, and even dental treatments.
Volusia County Sheriff Mike Chitwood described Valiant as a “predator” who even allegedly ordered his client’s life support to be turned off after submitting notarized paperwork in June.
The scheme was uncovered following a traffic stop in Flagler County, where Valiant was arrested. Constance Kellner, another realtor, was also arrested for aiding the crime. Investigators say the plot unraveled when Valiant’s girlfriend overheard discussions about purchasing the client’s oceanfront property for personal gain.
Source: Link
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3 Things You Need to Know” delivers concise, no-nonsense real estate news, ensuring that agents stay informed and ahead of the curve.
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