Notes from the report: Prices and mortgage payments are based on the median existing single-family home price, averaged from quarterly data to obtain annual prices. Mortgage payments are calculated using the interest-rate average for that year and assume a 20% downpayment and fixed 30-year term. Rent is the median gross monthly rent from the 2010 American Community Survey, indexed using the CPI for rent of primary residence. Income is median household income.
Sources from the report: JCHS tabulations of National Association of Realtors®, Composite Affordability Index (NSA) and Existing Single-Family Home Sales via Moody’s Analytics; Freddie Mac, Primary Mortgage Market Survey; US Census Bureau, American Community Survey; Moody’s Analytics, median household income estimates.
We’re honored to have Matthew Ferrara share his knowledge and wisdom on the technologies you can use to benefit your business. - The KCM Crew
Get ready for a whole new level of mobile sales productivity – with an iPad!
For years, REALTORS® have worked to increase access to important sales information while on the go. First they tried laptops, although many models weigh nearly 10 pounds, too heavy to carry all day. Next they tried to cram everything into smart phones. However, the tiny screens work against all day use, and made sharing data with clients impossible.
Thank goodness, then, for the emergence of tablet computing, which, in the form of Apple’s iPad, combines the best of both worlds. Better still, the iPad improves upon them.
There are numerous media sources reporting the advantages and disadvantages of homeownership. Every expert (from international money managers who have hundreds of billions of dollars of assets under management to local and national real estate experts) has chimed in on the subject. The bottom line is that the percentage of folks that own a home is going down.
This is largely because the amount of Echo-Boomers, adults from the ages of 18-34, are either still living at home or are renting. I write this blog post not for the hopes that those individuals will enter the world of homeownership (I am confident that they will when the time is right), but to give readers a real life experience of the value of homeownership. And it is certainly not monetary.
I grew up in a middle-class family. Both of my parents worked and were lucky enough to have steady employment for most of their careers.
Each quarter, Pulsenomics surveys a
“distinguished panel of over 100 economists, investment strategists, and housing market analysts regarding their 5-year expectations for future home prices in the United States.”
Here are the results of their latest survey: