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Lack of affordability is the most commonly cited reason renters don’t believe they’ll ever own a home Nearly two in five (38%) U.S. renters don’t believe they’ll ever own a home, up from roughly one-quarter (27%) less than a year ago, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Lack of affordability is the prevailing reason renters believe they’re unlikely to become homeowners. Nearly half (44%) of renters who don’t believe they’ll buy a home in the near future said it’s because available homes are too expensive. The next most common obstacles: Ability to save for a down payment (35%), ability to afford mortgage payments (33%) and high mortgage rates (32%). Roughly one in eight (14%) simply aren’t interested in owning a home. This is according to a Redfin-commissioned survey of roughly 3,000 U.S. residents, including about 1,000 renters, conducted by Qualtrics in February 2024.…
Nearly 20% of recent buyers have no idea who paid their agent and how the amount was determined 39% of homeowners with plans to sell think a 3% buyer’s agent commission seems high, but nearly the same share think it seems just about right More than one-quarter of recent homebuyers (28%) have no idea how much their agent was paid, and 17% have no idea how the amount was determined, according to a new report from Redfin (www.redfin.com). A similar share—19%—have no idea who paid their agent. The report is based on a Redfin-commissioned survey conducted by Qualtrics in February 2024. The nationally representative survey was fielded to 2,995 U.S. homeowners and renters. This report focuses on the roughly 120 respondents who indicated they bought a home in the last year and used an agent. Just over one-third of recent homebuyers know exactly how much their agent was paid (37%)…
-- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.88 percent. “Mortgage rates have been drifting higher for most of the year due to sustained inflation and the reevaluation of the Federal Reserve’s monetary policy path,” said Sam Khater, Freddie Mac’s Chief Economist. “While newly released inflation data from March continues to show a trend of very little movement, the financial market’s reaction paints a far different economic picture. Since inflation decelerated from 9% to 3% between June 2022 and June 2023, the annual growth rate of inflation has remained effectively flat, ranging from 3.1% to 3.7% and averaging 3.3%. The March estimate of 3.5% annual growth is in the middle of that range. However, the market’s reaction was dramatically different, as illustrated by a significant drop in the Dow Jones Industrial Average post-announcement.” Khater continued,…
Has this ever described your day? You wake up in the morning rested and excited about your day. After doing yoga/gratitude journal/a walk (or whatever self-care you enjoy most), and eating a healthy breakfast, you head to your desk, ready to tackle the day. You quickly deal with new emails and issues that need resolved, then focus on your prospecting calls. Next, it’s time for your first appointment, and you arrive 15 minutes early. After that, you pick up a salad and head to the park to enjoy your lunchbreak on a beautiful day. Feeling energized, you handle your afternoon appointments and a scheduled closing. After handing over the keys to your excited new home buyers, you arrive home feeling happy that you were able to help someone’s dream come true. After a relaxing evening as you get ready for bed, you are filled with gratitude that you work in…
When it comes to the concept of disruptions in this world, we tend to focus on all the new digital tools that are creating ripples in headlines. From generative AI to digital currency, these digital disruptions are definitely leaving their impact. But instead, the focus of today should be on the very concept of disruption itself, not just digital disruption. The word “disruption” is a key stumbling point for many. Having worked with businesses and organizations of varying sizes worldwide, what I have discovered is that while most have a heavy focus on digital disruptions, others do not consider the many other disruptions this world is throwing our way. To help the world while leveraging disruptions, we must better understand the term “transformation” as well. What we are aiming to do is transform the world instead of merely changing it. In today’s world of accelerating disruptions of any kind, if you are only aiming…
Sometimes you say something and you later regret having said it. Sometimes you think you are helping, but then say something that only makes things worse! We have all been in or seen that situation and understand how it happens. But when the person who says it is in a position of power, it can really have drastic consequences. In the past few days, we saw just that, the president was out on a campaign event and said that he was pretty sure the FED would be cutting rates soon. While he smiled, the markets knew that this was going to become an issue! The FED has always tried to maintain at least the appearance of being apolitical and independent. The job is to navigate the economy without yielding to political pressure. While not easy, it becomes even more challenging in a presidential election year and it’s the president suggesting…
![Despite Rising Home Prices, Homeownership Rates Keep Increasing [New LendingTree Report]](/media/k2/items/cache/3100be4da07dc9080d0f1b53f3799be4_S.jpg)
While U.S. home prices have come down from recent highs, they remain relatively steep. Despite this, homeownership rates have gone up in recent years. More specifically, according to a LendingTree analysis of the latest housing data, the share of owner-occupied homes in the nation’s 50 largest metropolitan areas increased by 108 basis points from 2012 to 2022. In other words, our findings indicate that even though home values in some areas have more than doubled since 2012, more people have become homeowners. As of 2022, almost 43.5 million of the 70.4 million occupied housing units in the nation’s 50 largest metros were owner-occupied. The overall homeownership rate across these metros is 61.72%. Homeownership rates are highest in the Detroit, Minneapolis and Pittsburgh metros. The homeownership rates in these metros are 71.49%, 70.54% and 70.45%, respectively. Homeownership rates are lowest in the Los Angeles, New York, and San Diego metros. At 47.94%, Los Angeles…
Have you ever had your confidence go MIA? Maybe it was the jitters before a big social event, like a class reunion, or a critical meeting. Perhaps you were meeting someone for the first time or stepping out of your comfort zone in some way…
And even though you are a grown adult who has been in hundreds of situations where you had to be your best self, sometimes your illusive self-assuredness goes AWOL! What’s the deal? I recently addressed an exceptional group of about 200 teens and their private comments had a common denominator: they thought they weren’t good enough, they thought they might be rejected, they feared they would not be accepted, they worried that they looked weird, or would seem awkward. One said, “I want to have charisma.” Hmmm. Charisma? Sound familiar? Merriam-Webster defines the meaning of a charismatic person being: “A person who possesses…
![March Housing Report: Housing Market Takes a Step in a Buyer-Friendly Direction [Realtor.com]](/media/k2/items/cache/d0c0d38a847cd408c3bd6624c03648bf_S.jpg)
March data shows the largest share of price reductions since 2019 with 34 out of the 50 largest metros showing an uptick in drops According to the Realtor.com® March housing report, buyers are looking at an optimistic mix of increasing inventory and an uptick in price reductions going into the Spring season. In March, the percentage of homes with price reductions increased to 15.0% - the largest share in 5 years - and the total number of homes actively for sale grew by 23.5% compared to last March (but remains well below pre pandemic levels). “Sellers are starting to warm up to the current environment, wading into the market in increasing numbers despite market mortgage rates that are likely above their existing rate, if they have a mortgage. As a result, data shows surprisingly competitive pricing trends among sellers, especially in the lead up to this year’s Best Time to…
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![Men and Women Working in the Workplace [VIDEO]](/media/k2/items/cache/83cdddf9a061c8949f52eda842e238f4_S.jpg)
Dr. Gary Burrus, PH.D, expert in Human Resources shares his expertise on what you need to have in order to develop and then drive the right strategies and initiatives to promote successful collaboration between men and women working together. A Bit About Gary: Gary Burrus has 27 years of experience in the gaming and hospitality industry. His experience spans property level, regional, and national operations. Specifically within the industry Gary has senior level experience in the areas of Customer Service, Resort Operations, multiple Hotel Operations (1,000+ rooms), RV park operations, Golf Course, Shooting Facilities, Entertainment and Recreation facilities, Convention Center, Retail Store Operations, Human Resource Management (benefits administration, compensation, 401(k) Administration, recruiting, employee engagement, training, union negotiations, employee wellness), Risk Management, Compliance, Government Relations, Community Relations, Security Operations, Transportation and Valet Operations, and interim General Management.
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.82 percent. "Mortgage rates showed little movement again this week, hovering around 6.8 percent,” said Sam Khater, Freddie Mac’s Chief Economist. “Since the start of 2024, the 30-year fixed-rate mortgage has not reached seven percent but has not dropped below 6.6 percent either. While incoming economic signals indicate lower rates of inflation, we do not expect rates will decrease meaningfully in the near-term. On the plus side, inventory is improving somewhat, which should help temper home price growth.” News Facts The 30-year FRM averaged 6.82 percent as of April 4, 2024, up from last week when it averaged 6.79 percent. A year ago at this time, the 30-year FRM averaged 6.28 percent. The 15-year FRM averaged 6.06 percent, down from last week when it averaged 6.11 percent. A…
Millennials have surged ahead to become the largest group of home buyers, marking a significant shift in the housing market’s demographic landscape, according to the latest report from the National Association of Realtors®. The 2024 Home Buyers and Sellers Generational Trends report, which examines the similarities and differences among recent home buyers and sellers across generations1, found that the combined share of millennials, both younger (ages 25 to 33) and older (ages 34 to 43), now make up a combined 38% of the home buying market, a substantial increase from 28% last year. Baby boomers, comprising both younger boomers (ages 59 to 68) and older boomers (ages 69 to 77), saw their share decrease from 39% to 31%, relinquishing their position as last year’s largest demographic of home buyers. “The generational tug-of-war between millennials and baby boomers continued this year, with millennials rebounding to capture the largest share of home…
There is so much talk about generative AI today, it has become somewhat of a hot-button issue among working professionals and business leaders. We are witnessing firsthand the power of generative AI with applications like ChatGPT, Gemini, and other content-creating software. On Meta, Instagram, and other social media sites, there are works of digital art being created by generative AI applications like Midjourney, Canva and DALL·E 3 to name a few. But despite the fact that many are already implementing it while others are kept up at night about it, even I have to beg the question: So what? Why does the Hard Trend future certainty of generative AI matter so much to society, both professionally and personally? Is there real danger I should be aware of regarding this disruptive digital application? How can it make my life better at work or at home? Again, generative AI is here to stay. So what? Generative AI Is Sculpting Our Professional…
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