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191 search results for: my dad

176

Desire to Own a Vacation Home Growing

April 14, 2015

The National Association of Realtors just released their 2015 Investment and Vacation Home Buyers Survey which revealed that vacation home sales boomed in 2014 to above their most recent peak level in 2006. NAR Chief Economist Lawrence Yun sai...

176

Homeownership Rates: Are They Really Crashing?

February 18, 2015

The Census recently released their 2014 Homeownership Statistics, and many began to worry that Americans have taken a step back from the notion of homeownership. Easy… Chicken Little The national homeownership rate peaked in 2004, representing ...

176

Why Have Interest Rates Dropped?

January 27, 2015

The headlines agree mortgage interest rates have dropped substantially below initial projections. Many who are considering purchasing a home, or moving up to their dream home, might think that they should wait to buy, because rates may continue t...

176

Debunking 4 Myths about Buying a Home

November 05, 2014

A recent study by the Joint Center for Housing Studies at Harvard University revealed when renters were asked why they do no plan to own in the future, financial constraints were a more common response than the perceived lifestyle benefits they m...

176

What You Don't Know About Your Credit Score... Could Cost You!

September 24, 2014

Today we are excited to have Nabil Captan as our guest blogger. Nabil is a nationally recognized credit scoring expert, educator, author and producer. In today’s post, he explains how what you don’t know about your credit score could end up costi...

176

5 Questions You Should Ask Your Real Estate Agent

September 04, 2014

Whether you are buying or selling a home, the process can be challenging. That is why you should take on the services of a real estate professional when embarking on a potential home move. However, not all real estate agents are the same. A famil...

176

A ‘Soft’ Housing Market? We Beg to Differ!

August 25, 2014

There are some pundits lamenting the softness of the 2014 housing market. We can’t understand why. Though it is true that the early part of the year disappointed because of a myriad of reasons (ex. weather, lack of inventory, less distressed sale...

176

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There are more Millennials living with their parents than ever before. However, the numbers being quoted by some seem to be exaggerated.
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Every day we are pleasantly surprised with the research coming forward regarding the Millennial generation. Whether it was the over-exaggeration of the student debt challenge, the misbelief that they are not yet ready to buy or the under estimation of their actual home purchases, evidence is beginning to debunk the myths many have held about this generation and homeownership. Now, one more strongly held belief is being questioned.
Do Millennials Live in their Parents Basements?
It seems not as many as once was reported. Our friends at Calculated Risk (CR) alerted us to a post by Derek Thompson in the Atlantic: The Misguided Freakout About Basement-Dwelling Millennials. The article explains that according to the Census Reports:
“It is important to note that the Current Population Survey counts students living in dormitories as living in their parents' home.”
What?!? If you live in a college dorm, the census counts you as living with your parents. Thompson has some fun with this when he explains:
“When you were adjusting to your freshman roommate, you were ‘living with your parents’. When you snagged that sweet triple with your best friends in grad housing, you were ‘living with your parents’. That one time you launched butt-rattling bottle rockets at the stroke of midnight off your fraternity roof? I hope you didn't make too much noise. After all, you were ‘living with your parents’."
The data is “Criminally Misleading”
According to Thompson, the counting of those living in college dorms as living with their parents is “criminally misleading”. He explains that part of the increase in these numbers is actually attributed to the fact that more people are attending college:
“[T]he share of 25- to 29-year-olds with a bachelor degree has grown by almost 50 percent since the early 1980s. More than 84 percent of today's 27-year-olds spend at least some time in college and now 40 percent have a bachelor's or associate's degree. More young people going to school means more young people living in dorms, which means more young people ‘living with their parents’, according to the weird Census.” 
Thompson then goes on to reveal that:
"[T]he share of 18-to-24-year-olds living at home who aren't in college has declined since 1986. But the share of college students living "at home" (i.e.: in dorms, often) has increased. 

So the Millennials-living-in-our-parents meme is almost entirely a result of higher college attendance.” (emphasis added)
The Other Side of the Argument
However, Trulia’s chief economist Jed Kolko, doesn’t totally agree. In a post in response to the Thompson article, Kolko explains:
“The Current Population Survey’s (CPS) Annual Social and Economic Supplement (ASEC) counts college students who are living in dorms as living with their parents, and college enrollment has indeed gone up. But it does not follow that basement-dwelling millennials are a myth. The ASEC and other Census data show that after adjusting for college enrollment and for dormitory living, millennials were more likely to live with parents in 2012 and 2013 than at any other time for which a consistent data series is available.”
Bottom Line
There are more Millennials living with their parents than ever before. However, the numbers being quoted by some seem to be exaggerated.
    [created_at] => 2014-07-17T06:00:51Z
    [description] => 

Every day we are pleasantly surprised with the research coming forward regarding the Millennial generation. Whether it was the over-exaggeration of the student debt challenge, the misbelief that they are not yet ready to buy or the under estimati...
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    [title] => Millennials: How Many are Actually ‘Living with their Parents’ 
    [updated_at] => 2014-07-21T18:31:34Z
    [url] => /2014/07/17/millennials-how-many-are-actually-living-with-their-parents/
)

Millennials: How Many are Actually ‘Living with their Parents’

July 17, 2014

Every day we are pleasantly surprised with the research coming forward regarding the Millennial generation. Whether it was the over-exaggeration of the student debt challenge, the misbelief that they are not yet ready to buy or the under estimati...

176

When Character is More Valuable than Competence

July 10, 2014

Today we are pleased to have Nikki Buckelew back as our guest blogger. Nikki is considered a leading authority on seniors real estate and housing. Enjoy! It was her 80th birthday and as Sue's family gathered around in celebration, she announce...

176

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For almost a year now, we have been trying to debunk the myth that student debt is keeping the vast majority of Millennials from purchasing a home.

We explained that Millennials have purchased more homes over a recent twelve month period than any other generation as was reported by the National Association of Realtors).

We explained that the homeownership rate of people currently between the ages of 25-29 is 34.3%. That is higher than the 33.6% rate members of the previous generation (people currently between the ages of 45-49) achieved when they were that age (as per John Burns Consulting).

We explained that a recent survey showed that almost three out of every four (74%) young adults between the ages of 18-34 plan to buy a home in the next five years with 32% planning to do it in the next twelve months.

However, no matter how hard we tried, the same recourse was trumpeted back at us – What about student debt?

The good news is that the real facts about student debt are coming to light. Last week, The New York Times posted an article titled The Reality of Student Debt Is Different from the Clichés. This article went into great depth regarding the findings of a new study just released by the Brookings Institution, Is a Student Loan Crisis on the Horizon? which looked at data through 2010. The NYT article quoted key elements of the report:

58% of young-adult households have less than $10,000 in debt. An additional 18% have between $10,000 and $20,000
36% of households with people between the ages of 20 and 40 had education debt, up from 14% in 1989. Some of the increase stems from the good news that more people are going to college.
Taking financial aid into account, the average tuition at private (nonprofit) colleges has not increased any faster than overall inflation over the last decade.
Because the incomes of college graduates have grown since the early 1990s, the share of income that a typical student debtor has to devote to loan payments is only marginally higher than it was in the early 1990s — and somewhat lower than it was in late 1990s. It was 3.5% in 1992, 4.3% in 1998 and 4% in 2010.
The burden for the people with the most debt is significantly lower today than two decades ago. Someone at the 90th percentile of debt had to devote 15% of their income to repayment in 2010, down from 20% in 1992.

Bottom Line

The authors of the actual study put it simply in their conclusion:

“Despite the widely held belief that circumstances for borrowers with student loan debt are growing worse over time, our findings reveal no evidence in support of this narrative. In fact, the average growth in lifetime income among households with student loan debt easily exceeds the average growth in debt, suggesting that, all else equal, households with debt today are in a better financial position than households with debt were two decades ago. Furthermore, the incidence of burdensome monthly payments does not appear to have become more widespread over the last two decades.”
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For almost a year now, we have been trying to debunk the myth that student debt is keeping the vast majority of Millennials from purchasing a home.

We explained that Millennials have purchased more homes over a recent twelve month period than any other generation as was reported by the National Association of Realtors).

However, no matter how hard we tried, the same recourse was trumpeted back at us – What about student debt?

Bottom Line

The authors of the actual study put it simply in their conclusion:

For almost a year now, we have been trying to debunk the myth that student debt is keeping the vast majority of Millennials from purchasing a home.

We explained that Millennials have purchased more homes over a recent twelve month period than ...
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[id] => 74
[published_at] => 2014-06-30T10:00:50Z
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[slug] => millennials-and-student-debt-we-knew-they-were-wrong
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[title] => Millennials and Student Debt: We Knew They Were Wrong!
[updated_at] => 2014-06-30T14:55:41Z
[url] => /2014/06/30/millennials-and-student-debt-we-knew-they-were-wrong/
)

Millennials and Student Debt: We Knew They Were Wrong!

June 30, 2014

For almost a year now, we have been trying to debunk the myth that student debt is keeping the vast majority of Millennials from purchasing a home. We explained that Millennials have purchased more homes over a recent twelve month period than ...

176

5 Reasons to Sell Now

June 02, 2014

Many sellers are still hesitant about putting their house up for sale. Where are prices headed? Where are interest rates headed? Can buyers qualify for a mortgage? These are all valid questions. However, there are several reasons to sell your ho...

176

FSBO Millionaires Use Real Estate Agents

May 20, 2014

We pride ourselves on the quality of real estate information we deliver each and every day. We try to gather empirical evidence to validate the positions we take. We do not use just an anecdotal story to make a point. We also do not get caught up in ...

176

Difference Between a ‘White Lie’ and Lying

May 07, 2014

Growing up it seemed ‘white lies’ were okay while lying was a sin. As children, we sometimes had difficulty understanding where the line was. As we matured, we realized there most definitely was a difference. If a husband or wife asks if it is okay ...

176

Rethinking the 55+ Market

May 01, 2014

We are excited to have Nikki Buckelew back as our guest blogger for today. Nikki is considered a leading authority on seniors real estate and housing. Someone said to me recently, “Sixty-five is the new forty-five.” We chuckled, but the more I th...

176

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    [agents_bottom_line] => Today, Justin DeCesare returns as our guest blogger.  Justin is the CEO of Middleton & Associates Real Estate in La Jolla, CA. - The KCM Crew

Millennials have become an important topic of discussion for media outlets and blogs throughout the Country. While some argue that my generation is blossoming later than our predecessors, optimists such as myself believe that with our rebounding economy will help Millennials finally arrive in the economic arena that allows them the growth potential generations before us were afforded.

While I truly believe Millennials are positioned to become an important force in the new economy, the widening economic policy that minimizes retirement accounts and creates underemployment of Millennials threatens what is now America’s largest demographic.

In his post for MSN, Austin Thompson points out that Millennials are now in peak childbearing age, and from a Real Estate, as well as a parental Standpoint, what goes hand in hand with raising a family is the desire to own a home.

Families want to put down roots. They want to know they have a certain level of security if possible, while growing some form of equity for retirement.

While slashing pensions and lower wages certainly puts a strain on Millennial workers, the ability to purchase Real Estate can still be a saving grace in the Millennial financial planning process.

As agents and brokers, we are meant to advise our clients. We can’t change the fact that outside economic factors can have a negative impact on the lives of our clients. What we can do is try and help Millennials understand that they can take their future, and subsequently their retirement, into their own hands.

Chances are, your average Millennial client, like their parents, will not be starting out with a beach front multi-million dollar estate. Our job, is to help explain the path that starting in smaller affordable homes now will have down the road, how it will help them grow, and how it will help them take control of their livelihood.

Do more than sell my generation a house…help them build a future.
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    [content_type] => blog
    [contents] => Today, Justin DeCesare returns as our guest blogger.  Justin is the CEO of Middleton & Associates Real Estate in La Jolla, CA. - The KCM Crew

Millennials have become an important topic of discussion for media outlets and blogs throughout the Country. While some argue that my generation is blossoming later than our predecessors, optimists such as myself believe that with our rebounding economy will help Millennials finally arrive in the economic arena that allows them the growth potential generations before us were afforded.

While I truly believe Millennials are positioned to become an important force in the new economy, the widening economic policy that minimizes retirement accounts and creates underemployment of Millennials threatens what is now America’s largest demographic.

In his post for MSN, Austin Thompson points out that Millennials are now in peak childbearing age, and from a Real Estate, as well as a parental Standpoint, what goes hand in hand with raising a family is the desire to own a home.

Families want to put down roots. They want to know they have a certain level of security if possible, while growing some form of equity for retirement.

While slashing pensions and lower wages certainly puts a strain on Millennial workers, the ability to purchase Real Estate can still be a saving grace in the Millennial financial planning process.

As agents and brokers, we are meant to advise our clients. We can’t change the fact that outside economic factors can have a negative impact on the lives of our clients. What we can do is try and help Millennials understand that they can take their future, and subsequently their retirement, into their own hands.

Chances are, your average Millennial client, like their parents, will not be starting out with a beach front multi-million dollar estate. Our job, is to help explain the path that starting in smaller affordable homes now will have down the road, how it will help them grow, and how it will help them take control of their livelihood.

Do more than sell my generation a house…help them build a future.
    [created_at] => 2014-04-03T06:00:19Z
    [description] => Today, Justin DeCesare returns as our guest blogger.  Justin is the CEO of Middleton & Associates Real Estate in La Jolla, CA. - The KCM Crew

Millennials have become an important topic of discussion for media outlets and blogs throughout the C...
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    [published_at] => 2014-04-03T10:00:19Z
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    [title] => Millennials & Income
    [updated_at] => 2014-07-21T18:13:10Z
    [url] => /2014/04/03/millennials-income/
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Millennials & Income

April 03, 2014

Today, Justin DeCesare returns as our guest blogger. Justin is the CEO of Middleton & Associates Real Estate in La Jolla, CA. - The KCM Crew Millennials have become an important topic of discussion for media outlets and blogs throughout the C...

176

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    [agents_bottom_line] => Nielsen recently released their report “Millennials – Breaking the Myths” and today I want to focus on the information reported about Hispanic Millennials.

Of the 77 million Millennials, 19% are Hispanic. This group (age 18-36) is the most racially and ethnically diverse than any previous generation. According to this report, Nielsen expects the Hispanic population to grow by 167% by 2050.

Millennials are 14% first generation, and 12% second generation Americans, keeping strong ties to their home country, culture and language. For example:

1. 63% of the Millennials feel it is their responsibility to care for an elderly parent, according to Nielsen: “this is partially tied to the ethnic diversity of the generation. Typically ‘Hispanic and Asian Americans’ have cultural expectations that elderly family members will be cared for by the younger generations.”

This can help you to understand why when a Hispanic Millennial is looking for a home, they are requesting that extra bedroom.

2. 65% of Hispanic Millennials are U.S. Born and are more bilingual than other generations

	In 2003, 34% were Spanish dominant, 44% English dominant, 22% bilingual
	In 2013, 31% were Spanish dominant, 31% English dominant, 38% bilingual

“Today, the bilingual Hispanic is the dominant group within these Millennials.” According to this report, this is telling us that “Hispanics are choosing to speak more Spanish and maintain cultural ties.”
Where are they looking for homes?
This report revealed “62% of the Millennials prefer to live in the type of mixed-use communities found in urban centers where they live in close proximity to a mix of shopping, restaurants and offices. This is the first time since the 1920s where the growth in U.S. cities outpaces growth outside of the cities. And, 40 percent say they would like to live in an urban area in the future. 

The “American Dream” is transitioning from the white picket fence in the suburbs to the historic brownstone stoop in the heart of the city” and the markets with a major concentration of Millennials reflect this desire:

Top 10 markets for Millennials (by %):

	Austin, TX (16%)
	Salt Lake City, UT (15%)
	San Diego, CA (15%)
	Los Angeles, CA (14%)
	Denver, CO (14%)
	Washington, DC (14%)
	Houston, TX (14%)
	Las Vegas, NV (14%)
	San Francisco, CA (14%)
	Dallas-Ft. Worth, TX (14%)

Do you have an urban center in your market place? If you already know that 40 percent say they will like to live in an urban area in the future. Are Hispanic Millennials a part of your business plan?
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    [content_type] => blog
    [contents] => Nielsen recently released their report “Millennials – Breaking the Myths” and today I want to focus on the information reported about Hispanic Millennials.

Of the 77 million Millennials, 19% are Hispanic. This group (age 18-36) is the most racially and ethnically diverse than any previous generation. According to this report, Nielsen expects the Hispanic population to grow by 167% by 2050.

Millennials are 14% first generation, and 12% second generation Americans, keeping strong ties to their home country, culture and language. For example:

1. 63% of the Millennials feel it is their responsibility to care for an elderly parent, according to Nielsen: “this is partially tied to the ethnic diversity of the generation. Typically ‘Hispanic and Asian Americans’ have cultural expectations that elderly family members will be cared for by the younger generations.”

This can help you to understand why when a Hispanic Millennial is looking for a home, they are requesting that extra bedroom.

2. 65% of Hispanic Millennials are U.S. Born and are more bilingual than other generations

	In 2003, 34% were Spanish dominant, 44% English dominant, 22% bilingual
	In 2013, 31% were Spanish dominant, 31% English dominant, 38% bilingual

“Today, the bilingual Hispanic is the dominant group within these Millennials.” According to this report, this is telling us that “Hispanics are choosing to speak more Spanish and maintain cultural ties.”
Where are they looking for homes?
This report revealed “62% of the Millennials prefer to live in the type of mixed-use communities found in urban centers where they live in close proximity to a mix of shopping, restaurants and offices. This is the first time since the 1920s where the growth in U.S. cities outpaces growth outside of the cities. And, 40 percent say they would like to live in an urban area in the future. 

The “American Dream” is transitioning from the white picket fence in the suburbs to the historic brownstone stoop in the heart of the city” and the markets with a major concentration of Millennials reflect this desire:

Top 10 markets for Millennials (by %):

	Austin, TX (16%)
	Salt Lake City, UT (15%)
	San Diego, CA (15%)
	Los Angeles, CA (14%)
	Denver, CO (14%)
	Washington, DC (14%)
	Houston, TX (14%)
	Las Vegas, NV (14%)
	San Francisco, CA (14%)
	Dallas-Ft. Worth, TX (14%)

Do you have an urban center in your market place? If you already know that 40 percent say they will like to live in an urban area in the future. Are Hispanic Millennials a part of your business plan?
    [created_at] => 2014-04-02T06:00:41Z
    [description] => Nielsen recently released their report “Millennials – Breaking the Myths” and today I want to focus on the information reported about Hispanic Millennials.

Of the 77 million Millennials, 19% are Hispanic. This group (age 18-36) is the most raciall...
    [expired_at] => 
    [featured_image] => https:///
    [id] => 11
    [published_at] => 2014-04-02T10:00:41Z
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    [slug] => hispanic-millennials-housing
    [status] => published
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    [title] => Hispanic Millennials & Housing
    [updated_at] => 2014-07-21T18:12:45Z
    [url] => /2014/04/02/hispanic-millennials-housing/
)

Hispanic Millennials & Housing

April 02, 2014

Nielsen recently released their report “Millennials – Breaking the Myths” and today I want to focus on the information reported about Hispanic Millennials. Of the 77 million Millennials, 19% are Hispanic. This group (age 18-36) is the most raciall...

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