Statista reminds us that the U.S. national debt is currently running north of $31.5 trillion after having surpassed $31 trillion for the first time back in October, 2022. Secretary of the Treasury, Janet Yellen, has said that financial maneuvering could keep the country open for some more months, but that the timeline was subject to “considerable uncertainty.” Hmmm…., well, ok then…. Stay safe and have a Happy Friday!! Click here to view the U.S. National Debt Clock. Hat tip to Statista.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
Realtor.com says the housing market has been brutal for first-time homebuyers. However, they say that just as prices are finally beginning to ease up and the bidding wars are dying down, higher mortgage interest rates have turned the prospect of homeownership into a financial impossibility for many. So, where are the best places for first-time buyers in 2023? That was the question they recently put pen to paper to discover. To come up with their list, they looked at places with at least 5k,residents in the 100 largest metropolitan areas. Then they factored in the percentage of 25- to 34-year-olds…
On a recent episode of CNBC’s Exchange, real estate reporter Diana Olick joined Realtor.com’s Chief Economist Danielle Hale to discuss an uptick in first time home buyers, rising all cash sales, and other important issue affecting today’s housing market. Click here to watch at CNBC.com.
The NAHB’s Eye on Housing says things have somewhat eased since last Spring’s historically widespread shortages of building materials – the major exceptions being shortages of HVAC equipment and certain categories of ceramic materials. Citing data from the most recent NAHB/Wells Fargo Housing Market Index over 80% of single-family builders reported either a serious or some shortage of three categories of building products: appliances (88%), transformers (86 percent) and windows & doors (83%). “Although these shortages may seem severe and broad-based, they are generally not as severe as they were the last time NAHB collected similar information in May 2021…”…
Last week we posted United Van Lines’ annual moving report and this week we’re taking a look at Atlas Van Lines’ 2022 Migration Patterns Study. Overall, Atlas’ Migration Patterns Study showed that 13 U.S. states were classified as outbound (more people moved out) and 13 U.S. states were classified as inbound (more people moved in). Interestingly, Atlas says Florida was once again a preferred destination for movers but North Carolina tops this year’s inbound list. Not surprisingly, Illinois has become the country’s outbound leader.Atlas has published their annual study since 1993 which tracks America’s interstate, cross-border, and international moves based…
Local Market Monitor, a National REIA preferred vendor, recently released their monthly National Economic Outlook where they share their thoughts on developments taking place in the U.S. economy. “…the economy is not doing that well and will do worse in the next year…” Ingo Winzer National Economic Outlook By Ingo Winzer January 20, 2023 Jobs in December were up 3 percent from last year, a strong increase in normal times. But considering they were up 3.2 percent in November and 3.6 percent in October it’s not difficult to conclude that growth is slowing. Its very likely that growth in the…
The National Association of Realtors is reporting that existing home sales were down 1,5% in December to a seasonally-adjusted annual rate of 4.02 million (down 34% year over year). Total housing inventory at the end of December was 970k units, down 13.4% from November but was up 10.2% from one year ago. Unsold inventory sits at a 2.9-month supply at the current sales rate with properties remaining on the market for around 26 days. The median existing-home price for all housing types in December was $366,900, up 2.3% from one year ago. The NAR said that December marks 130 consecutive…
The U.S. government is reporting that privately‐owned housing starts in December were at a seasonally adjusted annual rate of 1,382,000, which is 1.4% lower than November’s revised number and 21.8% lower than one year ago. December’s rate for units in buildings with five units or more was 463k. Privately‐owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,330,000, which is 1.6% below November’s revised number. Authorizations of units in buildings with five units or more were at a rate of 555k in December. For the year 2022, an estimated 1,553,300 housing units…
Do you already own just a single investment property? Thinking about another? Today’s infographic from FortuneBuilders poses six questions to ask yourself before buying another. They say that that buying a second investment property can serve as a vehicle for expanding your business and move you closer to your financial goals. However, managing more than one property brings a new set of challenges and implications that can make anyone hesitate. Indeed…..Stay safe and have a Happy Friday!!! Hat top top FortuneBuilders.
The Tax Foundation is reporting that American were on the move in 2022 and they, hold on to your hat, chose low-tax states over high-tax ones. To come up with their findings they crunched data from the U.S. Census Bureau population data and commercial datasets released in early January. Interestingly, they say that moving data from U-Haul and United Van Lines (recently posted on this site), while less robust and undoubtedly influenced by their geographic coverage, speaks more directly to cross-border migration and is confirmatory. The Tax Foundation says both companies show states like California, Illinois, Massachusetts, and New York…
