DrTCJ’s Tweets March 10, 2017 Through April 6, 2017

If you track my Tweets, ignore this blog.

For those of you that do not Tweet – you should consider doing so. If you want to talk about effective bang for the buck, the 140 total characters, letters, numbers and spaces of a Tweet on Twitter certainly qualifies. Who knew you could say so much in so little?

More totals 3,584 – please tell friends and colleagues and encourage them to follow.

While you may recognize some of the data from my blog, there are always items that just get Tweeted. I am always looking for “I did not know that” information.

DrTCJ’s Tweets March 10, 2017 Through April 6, 2017

Important perhaps, is that Millennials — Social Media Core Users — are not only the largest population cohort ever seen in the U.S., but also, as of 2016, the largest home buying segment according to the National Association of Realtors®. Join in or check out, so-to-speak, with this massive economic demographic. One Florida Realtor® that occasionally retweets my info has almost 800,000 followers – that is a highly effective use of their time!

Tweeting reminds me of Mark Twain, who wrote, “I would have written you a shorter letter but I didn’t have the time.” You need to pack a lot in a little space.

Twitter followers on DrTCJ know US property tax collections totaled $277.7 billion in 2016, averaging $3,296 per home at an average 1.15% rate – ATTOM Data Solutions

  • Top Property Tax Rates 2016

    2.31% New Jersey
    2.13% Illinois
    2.06% Texas
    2.03% New Hampshire
    2.02% Vermont

ATTOM Data Solutions

  • Sales of single tenant net-lease properties fell 6.9% in 2016, dropping from $58 billion in 2015 to $54 billion in 2016 – CoStar
  • The average number of days for a Millennial to close a purchase loan in February 2017 was 42 days while refis took 52 days – Ellie Mae
  • The average FICO score for Millennial home buyers in February 2017 was 747, with FHA loans at 690 & VA at 745 – Ellie Mae
  • The number of payroll jobs 12-months ending Feb 2017 increased year-over-year in 323 of the 388 MSAs, down in 64 & unchanged in 1 – BLS
  • Percent of 25 to 34 Year Olds Living with Their Parents

20% Millennials (2015)
10% Baby Boomers (1980)

Bloomberg

  • The average loan size for purchase applications hit a record $318,200 in the MBAs’ Weekly Mortgage Application Survey, week ending 3-31-2017
  • The average US worker will have 12 jobs from the age of 18 to 48 – US Bureau of Labor Statistics
  • Number of new homes being built in Central London down by approximately 75% year-over-year due to 10% stamp duty – JLL via PropertyWire
  • Home prices rose 7.0% in the 12 months ending February 2017 & are forecast to go up 4.7% by February 2018 – CoreLogic
  • Rent as a Percent of Income in Ethnic Majority Neighborhoods

48.1% Hispanic
43.7% Black
30.7% White

Zillow

  • US construction spending was up 0.8% in February 2017 to the highest level since April 2006 lead by homes, highways and schools – Commerce
  • Manhattan home sales, after declining year-over-year for 5 quarters, up 7.7% in Q1 2017 with average 4.5% listing price discount – Bloomberg
  • Fastest Selling Housing MSAs February 2017 — Days on Market

23 – San Jose
27 – San Francisco
33 – Vallejo
36 – Seattle
37 – Boulder

NAR

  • US homeowner’s tappable equity hit $4.7 trillion in 2016, highest since 2006, 68% belonging to borrowers with rates below current rate – MBA
  • Inflation exceeded the Fed’s 2.0% target for the 1st time in almost 5 years, with the Personal-Consumption Price Index in March 2017 at 2.1%
  • Retail store closures in 2016 totaled 80+ million square feet, the most since 2008, with the retail REIT sub-sector barely positive – Forbes
  • If the Federal Reserve sells their longer-term US Treasuries rather than holding to maturity, expect rates to rise & the US Dollar decline
  • US housing affordability hit an 8 year low in Q1 2017 based on tracking of 379 counties in the ATTOM Data Solutions Home Affordability Index
  • Global Relocation Destinations 2017

1 US
2 UK
3 Switzerland
4 Singapore
5 Netherlands
6 Germany
7 India
8 China
9 Canada
10 Ireland

Cartus

  • Australian home prices rocketed up 12.9% in the 12 months ending March 2017, driven by low mortgage rates – CoreLogic
  • How People Shopped for Homeowners Insurance 2016

53% Do not shop
29% In person
24% By phone
17% Online

Insurance Information Institute

  • Renters insurance coverage continues to rise

2011 29%
2012 31%
2013 35%
2014 37%
2015 40%
2016 41%

Insurance Information Institute

  • 8% of US homeowners had earthquake insurance in 2016

14% West
7% Midwest
6% South
6% Northeast

Insurance Information Institute

  • 12% of US homeowners carried flood insurance in 2016 vs 14% in 2012

14% South
13% Northeast
10% West
8% Midwest

Insurance Information Inst

  • February 2017 single family rental vacancy rate dropped to 4.6% due to a 79% retention rate with rents up 3.5% year-over-year – Morningstar
  • US apartment cap rates hit 5.5% for all asset trees in February 2017, with record lows for Mid-High Rise at 4.8% & Garden at 5.6% – RCA
  • Sales of US apartments declined 22% in February 2017 vs a year ago & were down 56% in January, cap rates at record lows – RCA
  • Margin debt (borrowing from brokerage accounts) hit an all-time record $528.2 billion in Feb 2017, up 2.9% from Jan – NYSE via WSJ
  • Q4 2016 GDP was raised from 1.9% to 2.1% (annualized) due to stronger corporate profits and increased consumer spending
  • NYC commercial real estate lending dropped 17% in 2016 from $99 billion in 2015 to $82 billion – Forbes, CrediFi, MBA
  • While commercial real estate values are up 8.4% in the past 12 months, up just 0.5% since November & 0.1% in March 2017 Ten-X via MBA
  • Hotel Metrics February 2017 YOY

Occupancy down 60 basis points (bp)
Average Daily Rate up 130 bp to $129
RevPAR up 70 bp to $90

STR

  • Hispanic Homeownership Defies National Decline 330,000 more became homeowners in 2016 45.4% 2014 45.6% 2015 46.0% 2016 NAHREP
  • February 2017 Pending Home Sales Index (newly signed contracts) was up 5.5% sequentially vs January 2017 and up 2.6% year-over-year – NAR
  • Opening Bell for Stewart at the NYSE today – plus commercial real estate function with 180 professionals

4-10-17 table

  • 25% of UK homebuyers aged 18-34 use an inheritance to purchase a home, 1-in 5 in that age group never plan to buy a home – PropertyWire
  • California Housing

250% national average price
50% greater rent
31% can afford state median home price

Builder Online

  • Top Earners Pay Most of the Taxes

4-10-17 table1

 

  • For families earning more than $100,000 annually, only 41% of colleges are affordable, for low income families 10% – Higher Education Policy
  • 2016 saw total spending on housing decline to 15.6% of GDP vs 60 year average of almost 19% – Risen Consulting Group via WSJ
  • If the US had risen to ordinary home construction levels in 2016, GDP up $300 billion, moving GDP from 1.9% to 3.7% – Rosen Consulting
  • Dec 2016 data showed 73% of consumers that died had an average $61,654 in debt including home loans ($12,875 without home loans) – Experian
  • Q1 2017 housing inventory hits record low

Supply -5.1% YOY
Starter home supply -8.7%
Trade-up home supply -7.9%
Luxury -1.7%

Trulia

Get your own Twitter account and Tweet away — and of course retweeting the ones of mine you find interesting.

Want to see all of my tweets or follow? Click https://twitter.com/drtcj

If this 62-year old can Tweet, so can you.

Ted

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