Stephen McBride from Forbes writes: “We have a serious housing shortage in America today. It would take less than six months to sell every existing home on the market… Today, supply is tight. And with record numbers of house hunters entering the market, it all but guarantees the housing boom will continue and likely accelerate.” Stephen believes The Biggest Housing Boom In History Has Just Begun. He believes the American housing boom has years to run. What do you think?
2. THAT SAID…
Millennials are in their 30’s now and a large percentage of them have not yet paid off their student debt. Did you know the Total student debt could buy every U.S. house on market… twice. Housingwire reports “a recent report from Zillow showed half of renters and almost 40% of buyers surveyed said student debt caused them to delay buying a home. Not surprisingly, this factor weighs most heavily on younger generations, including Millennials and Gen Z, especially when trying to qualify for a loan.” My hope is young people choose to purchase homes only when they are financially ready and not overextend themselves creating undue stress in their lives. Patience is the key to longterm success.
3. PERFECT UGLY STORM FOR BUILDERS
“The supply of homes priced between $200,000 and $750,000, which make up 60% of the market, flatlined in September, after 18 months of strong inventory growth. Supply is now expected to decline in the months ahead.” CNBC says Lower mortgage rates are causing an epic housing shortage. With low-interest rates and supply, I think we may be starting to see more homeowners rebuilding and/or remodeling their current homes.
4. MULTIPLE STREAMS
“According to experts, a person is considered financially independent when they have 25 times their annual expenses saved. With this amount, they would be able to withdraw 4% of their investments each year and live comfortably without ever running out of money, assuming they earn the average return.” Business Insider talked to Brent Sutherland and wrote 3 reasons to invest in real estate, according to a financial planner who owns 10 rental properties. Okay, now you can go ahead and add up your annual expenses and multiply by 25.
5. THERE IS FREE LUNCH
I posted this Washington Post article earlier today on Facebook because Hundreds of students said goodbye to their lunch debt thanks to one man’s donation. An inspired action by a Florida real estate agent went a long way in showing compassion for a local community. It’s the little things that go a long way.