If you want to talk about bang for the buck, the 140 total character, letters, numbers and spaces of a Tweet on Twitter certainly qualifies. Who knew you could say so much in so little. It reminds of Mark Twain who wrote, “I would have written you a shorter letter but I didn’t have the time.”
Since so few of you Tweet or follow me (now only 316 following), each week one of the Jones on Real Estate blog postings will cover the latest seven days of Tweets ending each Thursday.
While you may recognize some of the data from my blog postings, there are always items that just get Tweeted.
DrTCJ Tweets for August 8 – 14 2014
- The lowest-paying college major is a degree in Animal Science at $31,100 followed by Social Work at $32,200 according to USA Today.
- 13 states have now reached all-time prices highs: AK, CO, DC, IA, LA, NE, OK, ND, SD, TN, TX, VT and WY per CoreLogic.
- Housing-related spending represented 17.5% of GDP in Q2 2014 according to analyses by CoreLogic.
- Distressed commercial property sales, which were 17% of all sales in May 2013, have fallen to just 10.5% in May 2014 per CoStar.
- The average tuition at private schools is almost $11,000 not counting any discounts or scholarships according to a Trulia study.
- Lenders repossessed 25,937 properties in July, down 4% from June and off 30% from a year ago per RealtyTrac – lowest since April 2007.
- 51,595 properties were scheduled for foreclosure auction in July, up 10% from June but down 3% from a year ago per RealtyTrac.
- One out of every 1,203 homes in the US had a foreclosure filing in July according to RealtyTrac. Now 46 consecutive months of decline.
- Though newly started foreclosures in July were up 5% sequentially from June, they were down 18% from a year ago per RealtyTrac.
- An alarming statistic for retirement, percent of those aged 75 and up with mortgage debt more than doubled from 8.4% in ’01 to 21.2% in ’11.
- The percent of homeowners aged 65 and up carrying mortgage debt increased from 22% in 2001 to 30% in 2011 per the CFPB, impacting retirement
- The now-complete refinance boom saw more than 25 million US borrowers refinance with $70+ in total interest savings per Freddie Mac.
- First-time homebuyers accounted for just 16% of all new home sales in June, the fewest since data collection commenced 15 years ago per NAHB
- While the total listings for sale are up 6.5% in June 2014 vs June 2013, homes priced below $198,000 (1/3rd of all listings) were down 17%.
- Increased jobs and rising tax collections saw the US deficit shrink 3% compared to a year ago, totaling $95 billion in July per the Treasury
- While Western Europe had the highest top personal income tax rate at 46%, the US is next at 39.6% per KPMG.
- One in four households (24%) reported incurring an unexpected major medical expense in the past 12 months per Federal Reserve study.
- 43% responding to a Federal Reserve study reported not being able to pay out-of-pocket for major medical expenses.
- Of those households with savings prior to the 2008-2009 recession, 57% reported using up some or all of their savings in a Fed study.
- More than half of US households reported in a Federal Reserve survey of saving some of their income. 1 in 5 spent more than they earned 21%
- The primary reason among renters for not owning a home was lack of down payment (45%) followed by not qualifying for a mortgage (29%) – Fed.
- 45% of having owned their home at least 5 years responded that the value of their home was less than in 2008 per Fed survey.
- 18% of US households responded in a Federal a Reserve study they were behind in payments for student loan debt, with 9% in collections.
- 10% of renters responded in a Federal Reserve Bank study that they were currently looking to purchase a home.
- 1 out of 3 (31%) of people applying for credit in the past 12 months were either turned down or given less credit per Federal Reserve study.
- Year-over-year median existing home price declines were reported in 1 in 4 MSAs (27%) comparing Q2 2013 to Q2 2014 per NAR.
- 34% of households report they are “somewhat worse off or much worse off financially” than they were in 2008 per a Federal Reserve survey.
- Demand for rental housing is crushing supply resulting in escalating rents. Rents are up 18% since 2009 in Nashville & income +5% – Moody’s
- US Affordable Care Act premiums estimated to increase 7.5% in 2015 per Health Research Institute of PWC. Indiana up 15.4%, Oregon down 2.5%
- A legal migrant enters the US on average every 40 seconds according to the Census Bureau.
- A majority of Americans (50.5%) have zero retirement savings according to a Federal Reserve survey. 1 in 5 (19.1%) aged 55 to 64 have zero.
- 20 states now have more jobs than the peak from 2006 – 2008 out of the 50 states & DC. Texas is up most from the peak gaining 914,300 jobs.
- 1 out of 4 UK homebuyers paid 3% or more stamp duty (transfer tax) compared to 1 out of 10 in 2003 per the Nationwide Building Society.
- A week stay in Martha’s Vineyard in a 2 bedroom vacation rental costs an average $3,410, the highest in the US per TripAdviser.
- The new FICO Score 9, by weighting medical debt less, some borrowers FICO Scores will increase 25 points or more per Fair Isaac Corporation.
- There are 6.5 million properties at risk of a total loss to a hurricane-driven storm surge with $1.5 trillion in exposure per CoreLogic.
- All four states hit the hardest in the housing bubble: Nevada, California, Arizona & Florida, all-top 10 most underemployment – 24/7 Wall St.
- Nevada ranks 1st in underemployment, defined as looking for a job, having given up looking for a job or having just a part-time job.
- Japan saw real disposable income drop 8% in June vs a year ago, blamed on an increase from 5 to 8% in the national sales tax rate April 1.
- A home is listed for sale in Hong Kong at almost $US106 million, $22,677 per square, the highest price per foot in the world — HousingWire.
- Subscription sales of magazines fell 1.8% in the first half of 2014 vs the same period of 2013, while newsstand sales plummeted 12% – WSJ.
- A key indicator of a market peak, investors pulled a record $7.1 billion out junk bond funds last week – potentially overvalued per WSJ.
- The median income for those with Bachelor’s degrees was $60,149 in 2012 compared to $32,630 for those with just a high school diploma – WSJ.
- Though the overall unemployment rate is 6.5%, college grads are just 3.8%, only a high school diploma are 7.9% not seasonally adjusted – WSJ
- Builders most often report trusses and clay bricks as the largest shortage in building materials today according to 1 out of 7 (15%) – NAHB.
- A global flight to quality by investors saw the US 10-year Treasury yield drop to 2.424%, the lowest level since June 2013 per the WSJ.
If you have the time to wait, these will be aggregated weekly here on the blog. If however, you wish to receive these real-time as they happen, then follow my account at DrTCJ.
Better yet, get your own Twitter account and Tweet away — naturally retweeting the ones of mine you found interesting.
Want to see all of my tweets? Click https://twitter.com/DrTCJ