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QUOTE OF THE WEEK... "How wonderful that we have met with a paradox. Now
we have some hope of making progress." --Niels Bohr, Danish physicist
INFO THAT HITS US WHERE WE LIVE ... The Nobel Prize winner quoted above would no doubt have been encouraged by the somewhat contradictory findings of Fannie Mae's latest survey. Their Home Purchase Sentiment Index (HPSI) hit an all-time high in May, as more people than ever said it would be a good time to sell their homes. Unfortunately, fewer of those consumers felt it was a good time to buy. This seeming paradox can be resolved by noting that home prices, nationally, continue to climb. This is appealing to sellers, but when they then become buyers, many are hampered by the slow wage growth that continues to plague the U.S. economy.
In fact, the HPSI revealed that only 18% of respondents reported their income was significantly higher than it was a year ago. Fannie Mae's chief economist pointed out, "The current low mortgage rate environment has helped...and fewer than half of consumers expect rates to go up in the next year." The CoreLogic Home Price Index posted a 6.2% annual increase in April, but projected the gain would slow to 5.3% in the year ahead. Buyers are still showing up, evidenced by the Mortgage Bankers Association report that purchase applications went up 12% for the week ending June 3. That includes an adjustment made for the Memorial Day holiday.
BUSINESS TIP OF THE WEEK... Take charge of your business by taking charge of your day. There will always be unexpected events, but set your priorities first thing, then make sure they're accomplished by EOD.
INFO THAT HITS US WHERE WE LIVE ... The Nobel Prize winner quoted above would no doubt have been encouraged by the somewhat contradictory findings of Fannie Mae's latest survey. Their Home Purchase Sentiment Index (HPSI) hit an all-time high in May, as more people than ever said it would be a good time to sell their homes. Unfortunately, fewer of those consumers felt it was a good time to buy. This seeming paradox can be resolved by noting that home prices, nationally, continue to climb. This is appealing to sellers, but when they then become buyers, many are hampered by the slow wage growth that continues to plague the U.S. economy.
In fact, the HPSI revealed that only 18% of respondents reported their income was significantly higher than it was a year ago. Fannie Mae's chief economist pointed out, "The current low mortgage rate environment has helped...and fewer than half of consumers expect rates to go up in the next year." The CoreLogic Home Price Index posted a 6.2% annual increase in April, but projected the gain would slow to 5.3% in the year ahead. Buyers are still showing up, evidenced by the Mortgage Bankers Association report that purchase applications went up 12% for the week ending June 3. That includes an adjustment made for the Memorial Day holiday.
BUSINESS TIP OF THE WEEK... Take charge of your business by taking charge of your day. There will always be unexpected events, but set your priorities first thing, then make sure they're accomplished by EOD.
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