When it comes to cybersecurity, technology and protection are necessary, but we must shift our focus to what matters most: The weakest link.
Jobs are everything to an economy. Period. As I frequently say, “There are three groups of people that do not need a job to buy a house: those with gray hair, blue hair or no hair – we call them retirees. Good news for job seekers is that if a person has a marketable skill …Read more
Jobs are everything to an economy. Period. Each month the U.S. Bureau of Labor Statistics (BLS) releases employment data at the Metropolitan Statistical Area (MSA) and Division level in both Seasonally Adjusted Annualized Rates (SAAR) and non-seasonally adjusted formats. All employment data in this discussion are from the BLS. As I have written in the …Read more
Jobs are everything to an economy. Period. Always will be. So goes the number of jobs, so goes (in general) the demand for housing, commercial real estate and the overall performance of the economy. Naturally other factors such as taxes (or the lack-thereof), location, natural resources and external factors alter all of this, but the …Read more
The U.S. created 148,000 net new jobs (preliminary) in December 2017 as reported by the U.S. Bureau of Labor Statistics, 50,000 jobs short of the 198,000 consensus among economists according to MarketWatch. The net gain in jobs totaled 2.055 million in the prior 12-months at an average 171,250 per month. Total net job gains in …Read more
We can probably all agree that 2017 was an exciting year for everyone, but that was especially true for those of us in the real estate, mortgage lending, title, and escrow professions. As we bring the year to a close, I wanted to share some insights about the major trends we are tracking here at Stewart.
Property taxes can be a significant economic expense for homeowners and businesses alike, but they range from very low (0.28 percent per year of market value in Hawaii) to what I call obscene (2.13 percent in New Jersey), based on a study completed by the National Association of Home Builders. Given the 2017 Tax Cuts …Read more
New homes sales continued a rapid gain in November 2017, rising to an estimated 773,000 dwelling units on a seasonally adjusted annualized rate (SAAR). The last time sales on a SAAR were greater was August 2007 at 795,000. Sales were up 26.6 percent on a year-over-year basis (SAAR) and up 17.5 percent sequentially from October. …Read more
While jobs are everything to an economy, changes in population can and do have an impact. Just because the population grows, however, does not necessarily equate to an increased demand for housing or commercial real estate as people must also have the cash to pay rent, a mortgage or purchase a home. That is known …Read more
Existing home sales posted a seasonally adjusted annualized rate (SAAR) of 5.81 million dwelling units in November 2017, up 3.8 percent versus a year ago and the most seen since December 2006, according to the National Association of Realtors® (NAR). Median price of $247,000 (not seasonally adjusted), posted a 5.8 percent gain versus a year …Read more