The information in this infographic comes from a video of NAR Chief Economist Lawrence Yun talking about his 2015 housing market expectations. He expects existing-home sales to rise about 7 percent in 2015 behind a strengthening economy, solid job gains and a healthy increase in home prices.
Watch the video of Lawrence Yun’s forecast.
Read the news release about Lawrence Yun’s forecast.
Homer Simpson seems to be one of the more well-off characters that we’ve listed below. With affordable living being at 30% of one’s monthly income – Homer dominates with only spending about 15% of income on living. Other TV stars aren’t so lucky. Full house is devastated when taken into account San Francisco’s housing boom. With modern day prices even Don Draper of Mad Men would be spending too much on living, although I’d say it’s worth it to live in his homes.
Our TV stars seem to have good jobs and no one is living on the minimum wage. Well, there’s always It’s Always Sunny In Philadelphia. Who knows how that crew pays rent. [via]
As home prices rise, homeowners are wasting no time making use of their newfound, or regained, home equity. In fact, while all mortgage originations rose in the third quarter of this year, the biggest gain was in home equity lines of credit (HELOCs).
Originations of these loans, which are often in addition to primary mortgages, jumped over 17 percent for the quarter, according to Inside Mortgage Finance, a mortgage industry publication: $20 billion in new HELOCs, which is the most quarterly volume for the product this year.
From the National Association of Realtors:
For the second consecutive month, existing-home sales were on the rise in October, now above year-over-year levels for the first time in 12 months, according to the National Association of REALTORS®’ latest housing report.
Existing-home sales rose 1.5 percent to a seasonally adjusted annual rate of 5.26 million in October. Sales now are at their highest annual pace since September 2013.
“Buyers continue to be encouraged by interest rates at lows not seen since last summer, improving levels of inventory, and stabilizing price growth,” says Lawrence Yun, NAR’s chief economist. “Furthermore, the job market has shown continued strength in the past six months. This bodes well for solid demand to close out the year and the likelihood of additional months of year-over-year sales increases.”
Read the entire article here.
In a dog’s life, you eat on the floor. Except in kitchens like these, where pets are factored into the design
When I say there is nothing quite so unpleasant as stepping in a dog’s water dish, I speak from experience (no thanks, Augie). Like a good pet owner, I keep my pup’s water bowl filled with fresh water. It’s located in the kitchen, where I inevitably get busy and distracted and step in the drink. It has happened a lot, which goes to show you really can’t teach an old dog new tricks.
When I next remodel, I’m going to plan for this condition, using the clever ideas from these fellow pet owners as inspiration.