D.C. Metro & National Real Estate News

July 17, 2019

7/17/19

 

 

 

DID YOU KNOW? 

 

 

 

Most people inheriting wealth will be in their 40’s and 50’s…..this is possibly the most potent group of luxury real estate buyers too. It may also explain some of the delay in first time home buyers.

 

 

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Around $15.4 TRILLION will be transferred by 2030 from older generations to next generations with a net worth of $5m or more.  That's the size of the Chinese economy or 15X the market cap of Amazon. 550,000 individuals in total will pass on an average of $28.2 million! While many focus on the Uber-rich ($100m+), often forgotten are the ‘lesser rich’, those with assets between $5 and 30 million. There are 18,480 individuals with wealth of $100m+ in the USA who will be passing on wealth, but almost HALF A MILLION of those with assets between $5-30 million will be passing on assets too. Globally, there are over 42X the number of people worth $5-30m than those $100m+. We should never forget that those with a net worth lower than $5m (and much less) will also be transfering wealth and these studies don't address this. (WEALTH-X)

 

 

 

 

 

 

Posted in Real Estate News
July 16, 2019

7/16/19

 

 

 

 

DID YOU KNOW?
Forbes is currently working on their annual rankings of the wealthiest people in the USA, and one important component to doing so is calculating the value of the real estate owned by these people. Real estate is always an important component in any financial summary and their reporters are calling agents around the country in the know to provide value estimates of properties known to belong to those on the list....
 
DID YOU KNOW?
 The EB-5 program is a merit-based immigration category that promotes U.S. job creation through foreign direct investment. The EB-5 Coalition commissioned a report concluding that over a recent 2-year period a total of $10.98 billion in capital investment was made through this program. This builds on a study from the American Action Forum released on January 24, 2018 that found EB-5 immigrants have invested at least $20 billion in the U.S. economy since 2008, with over $5 billion invested in 2017 alone and projects associated with EB-5 investments have created over 174,000 jobs, or 16 jobs per investor. (Observer) 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Have a Great Day!

July 15, 2019

7/15/19

 

 

 

 

 

DID YOU KNOW?
 How do you make housing more affordable? Build lots. In Dubai they have built too much so now Dubai house prices have plummeted to their lowest levels in over 10 years last quarter, according to Cavendish Maxwell. The average single-family home price sunk 24% over the past year to $495,500, a level not seen in over 11 years despite a global recession and regional economic meltdowns over the past decade. (Penta)

 

 

 

 

 

 

DID YOU KNOW?
 This month the U.S. economy will have been growing for 121 months, the longest run since records began in 1854. The debt of non-financial businesses is at an all-time high of 74% of GDP. (Marketwatch)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Have a Great Day!

Posted in Community News
July 12, 2019

7/12/19

 

 

DID YOU KNOW?
 ATTOM Data Solutions 2018 property tax analysis of more than 87 million U.S. single-family homes revealed property taxes in 2018 totaled $304.6 billion, up 4% from $293.4 billion in 2017, an average of $3,498/home, an effective tax rate of 1.16%. The average property taxes of $3,498 for a single-family home in 2018 was up 3% from the 2017 average ($3,399), and the effective property tax rate of 1.16% in 2018 was down from 1.17% in 2017. The highest effective property tax rates were New Jersey (2.25%), Illinois (2.22%), Texas (2.18%), Vermont (2.16%), Connecticut (2.02%), New Hampshire (1.99%), New York (1.86%), Pennsylvania (1.79%), Ohio (1.69%), and Wisconsin (1.58%). 
DID YOU KNOW?

 

 

 

 

 

 

Out of the 219 metropolitan statistical areas analyzed in the report, 55% increased average property taxes above the national average of 3%, including Los Angeles (5%), Dallas-Fort Worth (8%), Washington D.C. (4%), Atlanta (7%), San Francisco (7%), Riverside-San Bernardino (5%), Seattle (14%), Minneapolis (6%), San Diego (5%), and Tampa (4%).  

Have a Great Day!

Posted in Community News
July 10, 2019

7/10/19

 

 

DID YOU KNOW?
The number of for-sale listings was up 2.8% annually in June, but that was down from May’s 2.9% gain. Inventory gains began to slow this year from 6.4% growth in January to 5.8% in February. (CNBC)
 
DID YOU KNOW?
Senator Kamala Harris - with bipartisan support - has called for amending the Fair Credit Reporting Act to require credit reporting agencies to include payments of rent, cellphone bills, and utilities when calculating credit scores. While alternative credit scores have been developed that do just that, the traditional FICO score, named after the Fair Isaac Corporation FICO, typically considers payments on debt such as credit cards, mortgages and auto loans. Experian however, has a tool that will include certain utility accounts included in your credit report. There are about 26 million people who are “credit invisible” and another 19 million who are said to have “unscorable” files, according to the Consumer Financial Protection Bureau. These people don’t have enough bank or credit-union accounts to have a credit score by today’s standards. (Marketwatch)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Have a Great Day!

Posted in Market Updates
July 9, 2019

7/9/19

 

 

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Flash floods in Washington DC? Yes! Yesterday they happened! When harsh rains start, always avoid driving into pools of water that may appear a lot shallower than they are. Often, 'small streams' of water can be much stronger than they appear.(CNBC)

 

 

 

 

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 A baby born in 2017 is expected to live to be 78.6 years old, which is down from 78.7 the year before, according to the Centers for Disease Control and Prevention’s National Center for Health Statistics. The 3 reasons for this shift? An increase in drug overdoses, liver disease from genetics, alcohol abuse and obesity and higher  suicide rates. (CNBC)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Have a Great Day!

Posted in Community News
July 8, 2019

7/8/19

 

 

 

DID YOU KNOW?
The 15 biggest metro areas in the U.S. account for more than 50% of the national GDP. (Marketwatch)
DID YOU KNOW?
The economy posted solid employment numbers again which indicates a strong economy, but may prevent lowering interest rates that had been widely anticipated.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Have a Great Day!

Posted in Community News
July 5, 2019

7/5/19

 

 

DID YOU KNOW?
 National home prices increased 3.6% year over year in May 2019 and are forecast to increase 5.6% from May 2019 to May 2020, according to the latest CoreLogic Home Price Index (HPI®) Report.
DID YOU KNOW?
Amazon turns 25 years old today. Can you imagine a world without the internet and Amazon? 25 years ago only 0.5% of the world was on the internet.

 

 

 

 

 

 

 

 

 

Have a Great Day!

Posted in Community News
July 3, 2019

7/3/19

 

 

 

DID YOU KNOW?

 

 

 

 

By 2100, academics estimate, 80% to 90% of the population will live in cities and it isn’t just people streaming into cities – capital is flowing there too. Housing is in demand as an “investment good,” not just for shelter. Importantly, investors can be foreign as well as domestic. That means that “house prices in the cities thus not only reflect the local factors such as supply constraints, regulations and zoning, but also global trends. (Marketwatch)

 

 

 

 

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Discount broker Purplebricks said it would pull out of the U.S. market in the latest setback for the struggling British online estate agent which is already preparing to exit Australia. Purplebricks, which also operates in Canada, entered the USA in 2017 confident of replicating its performance in Britain. But in May, the company apologized to shareholders for its disappointing performance and said it had slashed U.S. marketing and other expenses and was reviewing whether it can run a “materially scaled back U.S. business” there. (Reuters)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Have a Great Day!

Posted in Community News
July 2, 2019

7/2/19

 

 

 

 

DID YOU KNOW?

 

 

 

 

 

The now record-setting run of U.S. economic growth enters its 121st month, sustained by a decade of low interest rates and massive Federal Reserve intervention that helped put 22 million people back to work. Some say the real recovery is only beginning now after the horrible 2007-2009 recession wiped $600 billion dollars from U.S. GDP on an inflation-adjusted basis, creating a gap of close to $1 trillion between U.S. output and the economy’s potential based on its population, industrial base, and other factors. Income and wealth inequality, and the effects of automation on the workforce, have become an increasing concern, but so has the risk that keeping interest rates too low might feed the sort of excessive debt that caused the last financial crisis. (Reuters)

 

 

 

 

DID YOU KNOW?
  Norway - one of the world's biggest oil producers - just sold almost 50% of its cars fueled by.....electricity! (WSJ)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Have a Great Day!

Posted in Community News