A new group of young American adults is emerging as home buyers. These are the young adults who were born after 1995 and are part of the demographic group named Generation Z (Gen Z). In 2019, there are 31.5 million Gen Z members who are adult age. This will increase to 44.5 million adults in this demographic group by 2032 as all the younger members become adults.
Last week’s economic news included readings on home price trends, pending home sales and weekly readings on average mortgage rates and first-time jobless claims. The University of Michigan also released consumer sentiment report.
The average size of an American home has been increasing since the 1970s. The American Enterprise Institute (AEI) reports that, in 1973, the median size for a new home in the United States was 1,660 square feet.
Many baby boomers are reaching retirement age. If they set up their financial planning well, while younger, they should have accumulated enough wealth to have some discretionary money available for making investments.
Home price growth continued to slow in June according to Case-Shiller’s 20-City Home Price Index. 17 cities reported higher home prices in June, but three cities reported lower home prices month-to-month. Seattle, Washington was the only city to report lower home prices year-over-year in June.
What can be done with a house that is just perfect but it is in a bad neighborhood or a dangerous spot? Think about homes that are in decent condition; yet, too close to the water. America is experiencing flooding now that is not supposed to happen in 500 years.
Last week’s economic news included readings from the National Association of Home Builders Housing Market Index and July readings on housing starts and building permits issued. Weekly readings on initial jobless claims and mortgage rates were also released.
It’s often harder to make friends as an adult than it is when you’re a child. It’s even more challenging to make adult friends when you move into a new neighborhood. You may feel like people already have their own group of friends and aren’t looking to include newcomers. Of course, that’s just an illusion.
There are a few things to consider, when selling a home, that will help you maximize your potential for a better sales price. Seasoned real estate professionals are one of your best resources for these tips.
There is a joke about gated communities that says the walls are not just there to keep the people out but to keep the residents in. Living in a gated community that is subject to the rules of a homeowners’ association (HOA) can be a pleasant or a severely irritating experience, depending on the perspective a homeowner has about lifestyles.
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