Tag Archives: Americans

Money Monday: Americans are saving a little more

A bit of good news: more Americans are saving.

“The percentage of people who have adequate savings to cover six months of expenses — a six-month-stash — has jumped to 31%, according to a new study from Bankrate.com. That’s up from 28% last year and 22% in 2015.

“Not everyone is there yet: a quarter of Americans still have no savings at all. But that is down from 28% last year and the report shows positive signs that saving habits are improving” (Bahney, Anna. “Americans are saving (a little) more.” money.cnn.com/2017/06/20/pf/emergency-fund).

Apparently, it’s the younger people and the middle-class that are doing well at saving; read more of this article at money.cnn.com.

Money Monday: Americans are paying more than they can afford for housing

Rising housing costs are putting a major squeeze on Americans.

“Nearly 39 million households can’t afford their housing, according to the annual State of the Nation’s Housing Report from Harvard’s Joint Center for Housing Studies.

“Experts generally advise budgeting about 30% of monthly income for rent or mortgage costs.

“But millions of Americans are far exceeding that guideline.

“One-third of households in 2015 were “cost burdened,” meaning they spend 30% or more of their incomes to cover housing costs.”

Read more of Money.CNN.com’s article here: “39 million households are paying more for housing than they can afford.”

 

Money Monday: Emergency cash is lacking for many Americans

You never know what might come up, which makes savings for a rainy day important.

Emergencies come up. “But a lot of Americans aren’t ready for them financially, according to new research from the New York Federal Reserve.

savings

“The average American age 40 or under says there’s nearly a 50% chance they would not be able come up with $2,000 next month if there were an emergency.”

“Overall, Americans said in October there was a 34% chance they couldn’t come up with that amount of money if they had to. That’s down from a 42% chance in 2013 when the New York Fed first started asking the question in its Survey of Consumer Expectations. But it’s still up from 32% in February.” (Gillespie, Patrick. “Many Americans Don’t Have Enough Emergency Cash. CNNMoney. Cable News Network, 7 Dec. 2016. Web. 12 Dec. 2016.)

Read more at CNNMoney here.

Money Monday: Many Americans aren’t saving enough

In a Bankrate survey, half of Americans are saving 5% or less of their income, with only a quarter saving 10% or more.

That’s far below the recommended 15% savings that Bankrate recommends — only about 1 in 7 Americans are saving that much.

The middle class appears to be doing the most saving, with 35% of income earners of $50,000 to $74,999 annually saving more than 10%. Those in the $75,000+ annual wage bracket are a close second, with 32% saving 10% or more of their income.

Read more about Bankrate’s findings in CNN’s article here: “Half of Americans are saving next to nothing”.

Do you need more Money Monday tips, so that you’re saving more of your money? View all of my posts on money here. Some related Money Monday topics: Common money mistakes, Frugal living rules, and Prioritize bills when you’re low on cash.

Money Monday: Americans are saving more than spending

Americans are saving faster than they are spending.

money“It’s a key shift in spending habits that started during the Great Recession. And the trend continues as we head into the holiday shopping season this weekend.

“The savings rate in the United States rose to 5.6% in October — its highest mark in nearly three years. In September, the savings rate was 5.3%. Put another way, Americans put aside an extra $40 billion in October rather than spend it.

“The personal consumption expenditure, a measure of spending, only rose 0.1% between September and October…”

This article is from CNN Money. Read more of this article at CNN Money here.

The State of Real Estate

Prudential Real Estate Outlook Survey: Home Ownership Is Increasingly Important to Younger Americans

Prudential Real Estate Outlook Survey Infographic-final-large-web

Read about the report:

Continue reading

A Memorial Day & Real Estate

2012 Memorial Day was one to put in the record books for the rest of your life, wasn’t it? While the proper and fitting focus was on our United States Military, who have in most cases spilled their BLOOD for ALL Americans, we also remember our immediate family as well as those who have passed on. If ever aligned with the military or not, EVERY AMERICAN has been touched by Memorial Day, 2012–and ALL Americans have a connection to someone in the military, whether still alive, not survived, or wounded. Of those three latter-mentioned scenarios, my heart goes out to the wounded who are still alive which are the most important example for all living Americans, they continue to push ahead no matter what the road brings. As Americans, this men and woman are our pinnacle example for ALL; but in most cases ALL our problems are so insignificant in comparison!Memorial Day 2012

Which brings us to the current real estate market and the effect on it that the government has on the economy, from being able to buy a property for a 1st time buyer or a family purchase, to a family trying to keep their home while being innocent bystanders so to speak, meaning these families become victims of ultimately the government and banks. The government and the banks work hand-in-hand, have the ability to save a majority of people’s homes, while keeping them in their homes, and until there is justice for the hardworking families, who do whatever is necessary in the eyes of common sense and good, but to consistently get put back in a position of rejection makes seeing the American Dream Ideal appear as faint as a lightower on a coast subjected to immense fog.

My job includes finding homes for people who are so excited to buy a home that it is such an exhilarating experience on the surface.  However in today’s market, the average buyer knows little about how difficult it is to buy, from getting a loan secured and closed to just securing a property. Competition from “all cash” buyers who are holding and renting to flipping the home for a profit that needs renovation, presents an owner-occupant buyer the immensely daunting task of securing a home. Because buyers who need loans are second class due to sellers getting a higher net and avoiding buyer loan problems in closing, these non-investment buyers have a difficult time ahead of them. The average 1st time buyer has no chance unless they literally hit the lotto or find a great experienced full-time agent to represent them in tandem with the same experienced lender to weave their way through the maze of securing a home. I am that real estate agent and work with a strong lender who can in most cases get a better rate, loan program, and a higher qualifying loan amount than most other lenders.

Then the other side of the spectrum is for owners trying to keep their home who need the right advice dealing with their bank or servicer. Or they may not really know the positive results for getting out of debt in selling an upside-down home and avoiding bankruptcy in the process. Don’t you owe it to yourself to know ALL the details? Call me now before the laws that could immensely benefit you expire.

Americans More Optimistic About Housing, Economy

Americans’ concerns over housing and the economy are subsiding, according to Fannie Mae’s National Housing Survey from February.

An improving job market is a big part of what’s behind Americans feeling more confident about the housing market and the direction of the economy, according to the survey.

“The pickup in the pace of hiring over the past few months has helped soothe consumer concerns, lifting their moods regarding their personal finances, the direction of the economy, and their views on the housing market,” says Doug Duncan, chief economist of Fannie Mae. “As a result, we’ve seen more potential for economic upside, creating a more balanced near-term outlook.”

The survey found that 28 percent of Americans expect home prices to increase over the next 12 months while 53 percent say prices will likely stay the same. Fifteen percent say they expect home prices to decline.

Meanwhile, the majority of those surveyed see rental prices continuing to increase over the next year.

Sixty-five percent of those surveyed say that if they were going to move they’d buy their next home; 29 percent say they would rent.

With low mortgage rates and falling home prices, 70 percent of those surveyed say now is a good time to purchase a home. Also, more Americans surveyed say now is a good time to sell, rising to 13 percent in February, which is the highest level in more than a year but still low by historic standards.

Overall, Americans expressed more confidence about their personal financial situation, with only 12 percent saying they expected their personal financial situation to worsen in the next 12 months — which is the lowest number in more than a year.

Source: Fannie Mae 

This article is by RealtorMag.org