As Millennials move in to first-time buyer-starter homes, the existing occupants need to move up to move out. In some markets that is easier than others. In many locales that will be challenging given the huge price gap between starter and move-up homes and relative wages. Starter homes in some markets are almost non-existent – …Read more
Owning a home remains the American dream for most people. A recent study by the New York Federal Reserve found that 72.3 percent of renters either Preferred or Strongly Preferred to be homeowners. Depending on what an individual earns can slow or expedite the path to homeownership given the potential or lack-there-of for savings for …Read more
While there are markets that pay more than others to workers, many of those same markets have greater living expenses – with the largest being rent. Once again I invoke the invoke the TINSTAANREM axiom — There Is No Such Thing As A National Real Estate Market. Nor is there such a thing as a …Read more
Some metros across the U.S. have greater levels of still-at-home kids who often are now adults. Where, however, are the markets with the most empty nesters?
There Is No Such Thing As A National Real Estate Market. Nor is there such a thing as a typical housing or rental market. While homeownership may not be the American Dream for everyone, in some locales across the country it’s an economic dream fulfilled. Those are markets where buying is cheaper than renting.
I truly believe that everyone needs to live outside of the U.S. for a period of time as it can change your entire perspective. It will make you both appreciate what you have and the cost of some goods and services and question why others are so expensive – if even available. My wife, 13 …Read more
Major college and university towns and state capitals do not have nearly the economic erosion during down times that most other cities across the country experience.
New home sales increased 15.6 percent on a year-over-year basis in March 2017, now at an estimated 621,00 unit sales pace on a seasonally adjusted annualized rate (SAAR). Median new-home price was $315,100, up 9.4 percent vs the same month a year ago while average price tallied $388,200, a 9.0 percent increase. Be aware …Read more
Existing home sales accelerated into March 2017, hitting a seasonally-adjusted annualized rate (SAAR) of 5.71 million, up 5.9 percent year-over-year and the most since February 2007, according to the National Association of Realtors® (NAR). On an unadjusted basis, a total 456,000 single family, townhouse and condos were sold in March, up 8.3 percent versus a year ago.
The just-released 2017 NAR Investment & Vacation Home Buyer’s Survey from the National Association of Realtors® (NAR) shows what people buy, how much they paid, how far from where they live the new property is situated, the conduit through which the property was acquired, property characteristics, and how they intend to utilize the property – among others factors.