Category Archives: Jones on Real Estate

Jobs are everything to an economy — and the economy is doing well.  In the past 40 years, the U.S. average compound annual job growth rate was 1.43 percent.  The current 1.58 percent is 11 greater than the 40-year average. Job growth is not systemic, however.  As usual, I invoke the TINSTAANREM axiom — There …Read more

Another Top-10 List — America’s Most Affordable Beach Towns 2019

Summertime is beach time as American’s head to the sandy strips of water-edged real estate around the country.   While some own their vacation homes, timeshares or condominiums, multiple others desire a permanent beach destination.   Just as with mountain resorts, however, high housing costs or the perception there-of limit people searching for listings. To help with …Read more

State Job Growth May 2019

Jobs are everything to the economy.   Period.  Good news is that, for the second month in a row, positive job growth was registered in all 50 states for the 12-months ending May 2019 as shown in the following table.  Nevada, the top job growth state at 4.00 percent, had more than two and one-half times …Read more

Top 1 Percent of Earners by State 2018

My favorite Axiom as a real estate economist is the TINSTAANREM statement, which is am an acronym for There Is No Such Thing As A National Real Estate Market or a National Economy.  The same is true regarding income.   Median income per capita or household, for the country, by state or Metropolitan Statistical Area, varies …Read more

Residential Lending Forecast 2019 & 2020 as of May 2019

Interest rates make up part of the throttle linkage for residential lending.  Shown in the table is the latest forecast for 30-year conventional mortgage rates as reported by Fannie Mae, Freddie Mac and the Mortgage Bankers Association.  None see residential mortgage rates exceeding 4.6 percent between now and 2021 on an annualized basis.  The 30-year …Read more