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QUOTE OF THE WEEK... "If all the economists were laid end to end, they'd never
reach a conclusion." --George Bernard Shaw, Irish playwright and critic
INFO THAT HITS US WHERE WE LIVE ... Economists do enjoy endless debates. Fueling these are speeches like the one given last week by New York Fed head William Dudley to the Economic Club of New York. He wouldn't address the "normalization" of interest rates--the rate hike, which is the #1 topic among economists. But he did tell them his thoughts on housing: "Housing fundamentals are solid....Decent payroll gains have supported household formation over the past year and mortgage rates remain low.... While the housing indicators will likely continue to be volatile on a month-to-month basis, I expect the gradual improvement in the housing sector to continue."
There certainly are good reasons for housing to improve. Start with rents. An industry source reports that in the last year, 88% of property managers raised their rents. And 68% expect they'll raise them again in 2016. Yet interest rates remain near historical lows, making home buying more affordable. A new report from a real estate listing site concludes that today's comparatively low monthly mortgage payments, along with those ever more expensive rents, make home ownership a relative bargain to potential buyers. That bargain is also a good investment, as the National Association of Realtors (NAR) reported single-family home prices increased in 87% of measured markets in Q3.
BUSINESS TIP OF THE WEEK... Create goals that motivate you and that are achievable. Always write them down, starting with "I will" or "I must," not "I'll try." Break big goals into smaller milestones. Check your progress often.
INFO THAT HITS US WHERE WE LIVE ... Economists do enjoy endless debates. Fueling these are speeches like the one given last week by New York Fed head William Dudley to the Economic Club of New York. He wouldn't address the "normalization" of interest rates--the rate hike, which is the #1 topic among economists. But he did tell them his thoughts on housing: "Housing fundamentals are solid....Decent payroll gains have supported household formation over the past year and mortgage rates remain low.... While the housing indicators will likely continue to be volatile on a month-to-month basis, I expect the gradual improvement in the housing sector to continue."
There certainly are good reasons for housing to improve. Start with rents. An industry source reports that in the last year, 88% of property managers raised their rents. And 68% expect they'll raise them again in 2016. Yet interest rates remain near historical lows, making home buying more affordable. A new report from a real estate listing site concludes that today's comparatively low monthly mortgage payments, along with those ever more expensive rents, make home ownership a relative bargain to potential buyers. That bargain is also a good investment, as the National Association of Realtors (NAR) reported single-family home prices increased in 87% of measured markets in Q3.
BUSINESS TIP OF THE WEEK... Create goals that motivate you and that are achievable. Always write them down, starting with "I will" or "I must," not "I'll try." Break big goals into smaller milestones. Check your progress often.
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