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QUOTE OF THE WEEK... "A study of economics usually reveals that
the best time to buy anything is last year."--Marty Allen, American
stand-up comedian and actor
INFO THAT HITS US WHERE WE LIVE... Well, some interesting economic studies have appeared revealing that this year could well be a great time to buy a home. In Fannie Mae's June 2015 National Housing Survey, 59% of respondents expect rents to increase in the next year, a survey high. At the same time, 52% think now is a good time to sell a home, a survey high that went over 50% for the first time in its history. Fannie Mae's chief economist concluded, "these results point to a healthier home purchase market, with more renters likely to find owning to be more cost-effective than renting and more sellers likely to put their homes on the market."
Another study by a real estate data firm reported home prices gained in May for the 39th month in a row. Year-over-year, prices were up 6.3%, and are forecast to be up another 5.1% by May 2016. The firm's CEO feels these gains have spurred new home construction, and "as rising values build equity for homeowners, we expect to see more existing homes offered for sale in the coming year." Buyers of course are encouraged by bigger supply. Another data firm reports that principal and interest payment on a median-priced home is now just 21% of median gross monthly income nationally. That ratio had been 25%-26% historically and up to 33% at the height of the market in 2006.
BUSINESS TIP OF THE WEEK... Psychologists have found optimism is key to success. Stay positive with a gratitude list. Each day, note five things you're grateful for--your health, a new lead, that great latte--things you could easily take for granted.
INFO THAT HITS US WHERE WE LIVE... Well, some interesting economic studies have appeared revealing that this year could well be a great time to buy a home. In Fannie Mae's June 2015 National Housing Survey, 59% of respondents expect rents to increase in the next year, a survey high. At the same time, 52% think now is a good time to sell a home, a survey high that went over 50% for the first time in its history. Fannie Mae's chief economist concluded, "these results point to a healthier home purchase market, with more renters likely to find owning to be more cost-effective than renting and more sellers likely to put their homes on the market."
Another study by a real estate data firm reported home prices gained in May for the 39th month in a row. Year-over-year, prices were up 6.3%, and are forecast to be up another 5.1% by May 2016. The firm's CEO feels these gains have spurred new home construction, and "as rising values build equity for homeowners, we expect to see more existing homes offered for sale in the coming year." Buyers of course are encouraged by bigger supply. Another data firm reports that principal and interest payment on a median-priced home is now just 21% of median gross monthly income nationally. That ratio had been 25%-26% historically and up to 33% at the height of the market in 2006.
BUSINESS TIP OF THE WEEK... Psychologists have found optimism is key to success. Stay positive with a gratitude list. Each day, note five things you're grateful for--your health, a new lead, that great latte--things you could easily take for granted.
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