The home remains the largest store of wealth for most households. Homebuying is a complicated process – particularly for unfamiliar first-time buyers. Still, first-time homebuyers represented one-in-three of all home sales (33 percent) according to the National Association of Realtor’s latest Annual Profile of Home Buyers and Sellers. Some cities offer better opportunities than others …Read more
Every time a household moves out of a city, another locale is the recipient. As discussed in the previous Stewart Blog, the level of departures by people moving from an area is not equal across the country. Nor are destination rates equal – neither in percentages or among the reason(s) for moving. Those moving for …Read more
New findings from the U.S. Census Bureau found that 9.8 percent of Americans moved in 2019, making up almost 31 million people. That was prior to the outbreak of the Coronavirus. Given an average 2.3 people per household, this equates to 15.3 million moves of which 3 million are interstate. Where people moved from …Read more
Normally, tax related articles and studies are completed prior to April each year as most state and federal income tax bills are due at that time. Coronavirus has changed that given the delayed deadline in filing personal federal income taxes to July 15th, with some talk of extending that another three months. Taxes, just like …Read more
A demographic that is growing despite the global Coronavirus pandemic is the number of retirees in the U.S. Aging takes place regardless – and the Coronavirus pandemic, combined with the 30+ million people that lost their jobs since February are fueling growth in the number of retirees. Motley Fool analyzed a study from ScholarWorks at …Read more
Most Americans are risk averse when it comes to safety – whether that is personal, financial, on the road or in the workplace. The level of risk that people face varies across the country, from state-to-state and even within cities. Once again the TINSTAANREM axiom is invoked — There Is No Such Thing As A …Read more
No doubt this unprecedented time in our country will result in many people deciding to relocate to other markets when things return to a more normalized situation. For some, state and local tax issues will contribute to the relocation decision. What services state and local governments offer and how they fund those services varies dramatically. …Read more
An estimated 34.9 percent of U.S. households are renters (65.1 percent homeowners) according to the latest estimates from the U.S. Census Bureau as of Q4 2019. While the average net worth of homeowners is significantly greater than renters ($231,400 to $5,200) renters still have possessions at risk in their rental properties. Renters Insurance costs vary …Read more
Whenever I travel across the country, wanting to know what people in each locale do for a living is a constant. Answering the question of what type of work people do defines a community from an economic perspective. The various types and numbers of jobs from one community to the next can be dramatically variable …Read more
The statement, “Jobs are everything to an economy – Period,” is my top axiom regarding the economy. Jobs drive the ultimate demand for all types of real estate since they are essential to effective purchasing power. An estimated 145,000 net new jobs were created in December 2019 (preliminary) as reported by the U.S. Bureau of …Read more