Not much (if anything) in 2012 is even close to the cost and affordability of goods and services from 1971; One thing that has found the same level of affordability as 41 years ago though are homes. In fact, homes are more affordable to purchase now then they were in 1971!
Home sales rose in the last month of 2011 according to the Housing Scorecard. Homeowners are also bringing home double the funds needed to purchase an average home.
According to Bob Nielsen, chairman of the National Association of Home Builders, "With interest rates at historically low levels and markets across the country beginning to improve, homeownership is within reach of more households." In fact, the Natioanl Association of Home Builders reports that there are 76 imporoving markets for the month, a 53% increase form last month.
Read the full Housing Predictor article.
Monday, January 16, 2012
Tuesday, January 10, 2012
Moving Right Along
According to an Atlas Lines Migration Pattern Study, Americans are making the move to the East Coast and leaving the Rust Belt states behind.
Some of the top outbound states for moves were: Ohio, Nebraska, Louisiana, Delaware, and Hawaii.
Washington D.C. had the highest percentage of inbound moves for the fifth year in a row.
Some of the other top inbound states for moves were: Virginia, Rhode Island, North Dakota, and North Carolina.
Most western and southeastern states have stayed fairly balanced when it comes to outbound and inbound moves. Atlas also reports that the summer is the most popular time to move.
Read the full Atlas Van Lines study.
Some of the top outbound states for moves were: Ohio, Nebraska, Louisiana, Delaware, and Hawaii.
Washington D.C. had the highest percentage of inbound moves for the fifth year in a row.
Some of the other top inbound states for moves were: Virginia, Rhode Island, North Dakota, and North Carolina.
Most western and southeastern states have stayed fairly balanced when it comes to outbound and inbound moves. Atlas also reports that the summer is the most popular time to move.
Read the full Atlas Van Lines study.
Friday, January 6, 2012
Keeping Rates Low
2011 saw record low mortgage interest rates, but will they last?
According to Freddie Mac, interest rates on 30-year mortgages will begin to inch up but stay considerably low (4.5% in 2012 and 5.4% in 2013). The Federal Reserve also promises to keep rates low this year.
If you didn't take advantage fo the historically low interest rates of 2011 don't fret over the slight rate increases that will occur in 2012. You will still be getting a considerably low interest rate this year compared to the interest rates from the past. For example, in 1981 and 1982 the rates for a 30-year mortgage were at 16 percent! In 2000, rates lingered near 8 percent.
Check out the full Los Angeles Times article.
According to Freddie Mac, interest rates on 30-year mortgages will begin to inch up but stay considerably low (4.5% in 2012 and 5.4% in 2013). The Federal Reserve also promises to keep rates low this year.
If you didn't take advantage fo the historically low interest rates of 2011 don't fret over the slight rate increases that will occur in 2012. You will still be getting a considerably low interest rate this year compared to the interest rates from the past. For example, in 1981 and 1982 the rates for a 30-year mortgage were at 16 percent! In 2000, rates lingered near 8 percent.
Check out the full Los Angeles Times article.
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