A recent survey by GOBankingRates found that just over half of those surveyed had $1,000 or less in savings. Interestingly, Millennials were more likely than other generations to have nothing saved and those over 65 are more likely to have $10,000 or more in a savings. However, one third of Baby Boomers said they have nothing in savings. GoBankingRates says the overall results are “both encouraging and discouraging.” Indeed… Click here to read the full report on GOBankingRates.com.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
How will recent Hurricanes impact the U.S. housing market? ATTOM Data Solutions’ Daren Blomquist was recently interviewed by CNBC where he says the recent hurricanes will cause a dip in home sales as well as affecting home prices. The big question is, will we see a wave of foreclosures as people walk away from their damaged homes? Click here to watch the interview on CNBC.
The U.S. Government is reporting that privately owned housing starts in August were at a seasonally adjusted annual rate of 1,180,000. This is 0.8% below July’s estimate of 1,190,000, but it is 1.4% higher than August 2016. Single-family housing starts in August were at a rate of 851,000; this is 1.6% above July’s rate of 838k. The August rate for units in buildings with five units or more was 323k. Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,300,000. This is 5.7% higher than July’s rate of 1,230,000 and is 8.3%…
Millennials numbered around 80 million people last year, making them the largest living generation. As we continue to post more information and data about this group we recently came across a study from the Pew Research Center that said while Millennials might be the largest group but they lag in the number of households their members head. Indeed, with that in mind Pew also came up with five facts about Millennial households: More Millennial households are in poverty than households headed by any other generation. Millennial households dominate the ranks of the nation’s renters. About half of cohabiting-couple households are…
The foreclosure inventory rate is at a 10-year low according to CoreLogic’s most recent Loan Performance Insights Report which also shows that, in June, 4.5% of all mortgages were in some stage of delinquency (down from 5.3% one year ago). The foreclosure inventory rate was 0.7%, down from 0.9% one year ago. “After peaking at 3.6 percent in December 2010, June’s 0.7 percent foreclosure rate was the lowest in 10 years….Across the 100 most populous metro areas, the foreclosure rate varied from 0.1 percent in Denver-Aurora-Lakewood to 2.2 percent in New York-Newark-Jersey City.” Said Frank Martell, president and CEO of…
In their most recent U.S. Home Flipping Report, ATTOM Data Solutions is reporting that 53,638 single family homes & condos were flipped nationwide in Q2 2017, representing 5.6% of all home sales that quarter. That rate is virtually unchanged from one year ago. ATTOM defines a home flip as a property that is sold in an arms-length sale for the second time within a 12-month period. Their data covers over 950 counties and covers over 80% of the U.S. population. “Many flippers are gravitating toward lower-priced areas where discounted purchases are more readily available — often due to foreclosure or…
Top Internet security and cybercrime reporting site KrebsonSecurity recently put out a great Q&A list of “what you should know” about the recent Equifax data breach. This is a quick read and contains useful information about the breach and some rather interesting ideas on how to protect your identity/credit. “It remains unclear whether those responsible for stealing Social Security numbers and other data on as many as 143 million Americans from big-three credit bureau Equifax intend to sell this data to identity thieves. But if ever there was a reminder that you — the consumer — are ultimately responsible for…
What are the 4 reasons everyone should include real estate in their investment portfolio? That’s a great question and one that Fortune Builders recently answered in this informative infographic. After all, a diversified portfolio is key to financial freedom! Happy Friday!!! Hat Tip to FortunateBuildlers.
Freddie Mac recently announced that it was suspending all foreclosures (through Dec. 31, 2017) in areas that the FEMA has declared eligible disaster areas as a result of hurricanes Harvey and Irma. In addition, Freddie Mac is also suspending (until further notice) all eviction activities for borrowers in these same areas. They are also working with loan servicers to ensure that no property inspection costs resulting directly from either Harvey or Irma are passed on to impacted borrowers. An eligible disaster area is an area comprised of counties or municipalities that have been declared by the President of the United…
Citing data from the Census Bureau’s recently released 2015 Rental Housing Finance Survey, Harvard’s Joint Center for Housing Studies says that while individual investors were the biggest group in the rental housing market in 2015, accounting for 74.4%, or 16.7 million rental properties, institutional investors own a growing share of the nation’s 22.5 million rental properties and a majority of the 47.5 million units contained in those properties. “While individual investors (often called “mom-and-pop landlords”) still owned about three-quarters of all single-family rental properties in 2015, the share of those properties owned by institutional investors rose from 17.3 percent in…
