Sherlock Homes Realty West

Are you one of them? Survey: Nearly Half of Homeowners to Move This Decade Forty-five percent of homeowners have plans to move at some point within this decade, according to a new study of more than 1,500 Americans released by LendingTree. Sixteen percent of survey respondents say they plan on moving to a new house in their current city; about 15% intend to move to a new city in their state; and 15% plan to relocate to a new state. The key motivators to move over the next fe...w years, respondents say, include the desire to live in an area with a lower cost of living (30%); an area with better job prospects (28%); and to be closer to their children (21%). The motivations for moving differ from generation to generation. For example, millennials are more likely to want to move for a larger house, while baby boomers are motivated to retire in a new area.

https://www.realtor.com//trump-wants-zero-or-negative-in/

HOW CONSUMERS WILL BENEFIT FROM LATEST FED RATE CUT The Federal Reserve lowered its benchmark interest rate by another quarter of a percentage point on Wednesday to a range of 1.75% to 2%, citing concerns over a global economic slowdown. Mortgage rates aren’t directly tied to the Fed’s interest rate, but they do tend to be influenced by them. Following its meeting, the Fed signaled that another rate cut is likely before the end of the year. It cited uncertainties about the ...Continue reading

Americans’ Debt Anxiety Is Real Americans are getting anxious about their debt. About one-third34%of Americans’ monthly income goes toward paying off debt. It’s no wonder 45% of Americans say debt makes them feel anxious on at least a monthly basis, according to the latest findings from the Northwestern Mutual’s 2019 Planning & Progress Study, based on a survey of about 2,000 American adults. U.S. adults aged 18 and older reported having an average of $29,800 in personal de...bt, which excludes mortgages. That does mark an improvement over last year, when personal debt averaged $38,000. Still, consumers are plenty worried about it. One in five respondents say that their debt makes them feel physically ill at least once a month. Generation X reported the highest levels of personal debt with $36,000, on average, followed by baby boomers at $28,600. Millennials and Gen Z had the lowest at $27,900 and $14,700, respectively. The road to financial security is long, even in the best of circumstances, says Emily Holbrook, senior director of planning at Northwestern Mutual. By carrying high levels of personal debt, that road gets even longer, often requiring all kinds of detours and other twists and turns. The fact that there’s been some year-over-year improvement in debt levels is good, but the numbers still remain worryingly high. The leading sources of debt for most consumers is mortgages and credit cards, the study finds. Gen Xers and baby boomers noted that mortgages are their leading sources of debt, followed by credit card bills. Millennials cite credit cards bills as their main source of debt while Gen Z says personal education loans is theirs.

Low interest rates boost California housing market as median home price sets another record, C.A.R. reports - Existing, single-family home sales totaled 406,100 in August on a seasonally adjusted annualized rate, down 1.3 percent from July and up 1.6 percent from August 2018. - August’s statewide median home price was $617,410, up 1.5 percent from July and up 3.6 percent from August 2018.... - Year-to-date statewide home sales were down 4.1 percent in August.