MarketWatch is reporting that household debt rose $116 billion (0.9%) in Q3 of 2017 to $12.96 trillion. Citing data from the Federal Reserve Bank of New York, they also reported that credit card debt rose 3.1% and HELOC’s (home equity lines of credit) fell 0.9%. Click here to read the full story on MarketWatch.com.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
AAA says over 50 million Americans will travel 50 miles or more this Thanksgiving – this is 3.3% higher than last year and the highest number in 12 years! We at National REIA hope you & your family have a safe & happy Thanksgiving Day weekend. And, of course….Happy Friday! Click here to read the full travel forecast on AAA.com.
In their latest Loan Performance Insights Report, CoreLogic is reporting that August’s foreclosure inventory rate was 0.6%, the lowest monthly rate since August 2016 when it was 5.2%. They also reported that in August, 4.6% of mortgages were in some stage of delinquency representing a 0.6 percentage point year-over-year decline in the overall delinquency rate compared with August 2016 when it was 5.2%. “Serious delinquency and foreclosure rates are at their lowest levels in more than a decade, signaling the final stages of recovery in the U.S. housing market,” said Frank Martell, president and CEO of CoreLogic. “As the construction…
In her latest Real Estate News for Investors, Kathy Fettke reminds us that winter season is fast approaching which means property owners and managers should make sure their rentals are ready for bad weather. Freezing temperatures along with cold rain and snow can create a lot of trouble if you’re not prepared. It’s also a great time to check in with your tenants. Now is a great time to do some seasonal maintenance before the worst of the weather hits us. If you live in states with freezing temperatures and snow, it’s especially important to prevent the freezing of pipes,…
Local Market Monitor (a National REIA preferred vendor) recently released their National Economic Outlook for October, 2017 where they share their thoughts on developments taking place in the U.S. economy. National Economic Outlook – November 2017 November 14, 2017 By: Ingo Winzer Local data for October aren’t available yet, but the overall effect of the hurricanes in Texas and Florida on jobs will probably be transient. Overall, jobs in the US in October were up 1.4 percent from last year, up from 1.2 percent in September and in line with previous months. This doesn’t mean the affected local markets will…
You may have heard about Vinyl records making a big comeback, but did you know that according to recent data from the Census Bureau vinyl is the most widely used primary exterior on new homes? Indeed, the NAHB’s Eye on Housing blog says that vinyl (including vinyl-covered aluminum) was the most common primary exterior wall material on new single-family homes started in 2016, followed by stucco, brick or brick veneer, fiber cement siding (like Hardiplank or Hardiboard) and then at the bottom with wood, stone, rock or other stone materials. Click here to read the full story.
A recent article in the Wall Street Journal (and posted on Realtor.com) says Rising homeownership among millennials is affecting the rental market, which has declined after a long run over the past 7 years. In fact, they cite Homeownership rising to its highest levels since 2014 which is causing analysts & investors to wonder whether the good times might be over for the rental market. “For most of the current economic expansion, declining ownership rates have enabled landlords of apartments and single-family homes to raise rents far faster than the pace of inflation. Demand has been fueled by…
Legitimate service animals can be an incredible game-changer for people with disabilities and a serious issue for landlords, however a recent article from USA Today discusses the growing problem of people using fake service animals to get preferential treatment or some other self-centered desire. According to the report, 19 states (so far) have enacted laws cracking down on people who attempt to pass off their regular pets as service animals. “People who pass off their dogs as service animals in order to take them into stores, restaurants, libraries, sporting events and offices are a real problem, he said, for the…
A recent National Public Radio (NPR) story discussed the flooding damage caused to homes by Hurricane Harvey and how many frustrated homeowners are eager to sell for various reasons including lack of flood insurance and overwhelming mortgages. They point out, too, that and real estate agents and investors from around the country are purchasing these homes and making the necessary repairs & improvements that are helping to rebuild these communities. The story features members of Houston’s RICH Club, the local chapter of National REIA. It’s a good little piece and a reminder that real estate investors are often in the…
What are the best 10 cities in America for infrastructure? Leave it to the folks at Realtor.com to put pen to paper to find out. They looked at the largest 150 metros across the country and rated them such items as; Percentage of roads in “good” or “fair” condition (who doesn’t hate potholes?), percentage of bridges that are “structurally deficient,” public transit, airports, bike friendliness, and per capita government spending on various forms of infrastructure. “…How the heck are you going to get to work, or to the grocery store? Is the water drinkable? Are potholes turning into sinkholes, prompting…
