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Moving to The Suburbs

Homeowners who earn a high income are showing a preference for the suburbs—and even the far-out “exurbs”—over downtown living. A Census Bureau analysis of the 53 largest U.S. metros shows that only 3 percent of homeowners employed full-time who make more than $75,000 annually live downtown, while 11.4 percent live in inner-ring neighborhoods. But 14 percent live in the exurbs, and 71.5 percent are in the suburbs. In 2015, a $75,000 salary represented the 77th percentile of incomes nationwide, according to Chapman University researcher Erika Nicole Orejola.She found that...

November 22nd, 2017 Moving to The Suburbs

Happy Thanksgiving

Every year it seems like the months go by more quickly than before. Here we are wishing everyone a happy Thanksgiving already. Where did the summer go? Though the year passed quickly, there is plenty for us to give thanks for. This has been another year of economic growth and another year of positive stock growth. We have witnessed over eight years without a recession, and even though growth has not been robust, the total results of economic, stock price and house price growth has been impressive.Speaking of which, many are starting to ask this question -- how long can housing prices keep risi...

November 22nd, 2017 Happy Thanksgiving

Weathering the Storms

The storms are over. The regions hit by the storms are recovering to various degrees. We all thought that the third quarter would see a pause because of the storms' devastation. However, with a preliminary reading of 3.0% economic growth, a lot of forecasters were surprised. What this number tells us is one of two things. First, the national economy could be a lot stronger than we were thinking and should sprint in the fourth quarter. Or, since the hurricanes hit during the second half of the quarter, we may see a downward revision of this preliminary number.We do know that the storms nega...

November 13th, 2017 Weathering the Storms

A New Generation Awakes

In its most recent study, Zillow Group examined the newest generation to enter the housing market – Generation Z. Wait, what? Already? Are they even old enough to enter the housing market? As it turns out, yes, they are. Generation Z is considered to be those born from 1995 to 2010, meaning the oldest in the generation are now 22 years old. The Zillow Group Report on Consumer and Housing Trends 2017 shows this new generation now makes up more than 21% of the U.S. population, and is the most ethnically and racially diverse generation in our history. And they are beginning to ent...

November 8th, 2017 A New Generation Awakes

Rebuilding America's Housing Underway

Projections for next year’s housing market are already underway, as 2018 could be seeing significantly more home renovations and repairs taking place. A report released from the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University predicts a growing momentum in 2018 for money spent on remodeling homes. The Leading Indicator of Remodeling Activity finds annual gains in home renovation spending will surge from 6.3 percent in the fourth quarter of 2017 to 7.7 percent by the third quarter of next year.“Recent strengthening of the US economy, tig...

November 6th, 2017 Rebuilding America's Housing Underway

Interest Rates hikes in December, 2017?

Breaking. The Federal Reserve is on track to gradually raise interest rates given factors depressing inflation are "fading" and the U.S. economy's fundamentals are sound, an influential Fed policymaker said. New York Fed President William Dudley, among the first U.S. central bankers to speak publicly since their decision to hold rates steady in September, cited the soft dollar and strong overseas growth among the reasons he expects slightly above-average U.S. economic activity and a long-sought rise in wages. "With a firmer import price trend and the fading of effects f...

November 6th, 2017 Interest Rates hikes in December, 2017?

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