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The ‘Golden Girls’ Strategy? Elderly Adults Share Home Ownership

April 28, 2020 by Michael Addison

The "Golden Girls" trend got its name from the popular television sitcom about four elderly women who live together to share expenses. It is becoming a popular way in real life for elderly adults to share homeownership and it has many benefits. The cost of assisted living is quite high. The median cost in the United States for assisted living is $4,051 per month. In many parts of America, that amount makes a substantial mortgage payment. Rather than pay that high price to live in an adult assisted-living community, many able-bodied elderly are choosing to pool their resources and live together in a large home that they own together. Buying A Home To Share The homes that work well for this … [Read more...]

Filed Under: Real Estate Tagged With: Market Outlook, Market Trends, Real Estate

More Than 25% Of Millennial Homebuyers May Be Financially Unprepared

March 19, 2020 by Michael Addison

Millennials are the first generation in America that will probably not be able to do as well as their parents. In the United States, there is not as much upward mobility as there was in the past. What is the cause of this? CNN reports that Millennials have more college degrees than their parents. They also have an enormous amount of student loan debt. Many millennials have lower-paying jobs than their parents had at the same age when adjusted for inflation. Spending patterns changed as well, due to the high cost of living. Finding The Money Saving is not easy. The net worth of Americans, who are from 18 to 35 years old, decreased by 34% since 1996. Even though millennials are financially … [Read more...]

Filed Under: Mortgage Tagged With: Market Outlook, Market Trends, Mortgage

FOMC Statement: Key Fed Rate Unchanged; Policymakers Monitor Impact of Asian Flu Outbreak

January 31, 2020 by Michael Addison

The Federal Open Market Committee of the Federal Reserve issued its scheduled post-meeting statement Wednesday. Policymakers unanimously decided to leave the target federal funds rate range unchanged at 1.50 to 1.75 percent. FOMC members reasserted previous views that inflation was "subdued" and the economy was growing at a moderate pace. The Fed typically bases decisions about interest rates on its dual mandate of achieving maximum employment and an annual inflation rate of 2.00 percent. U.S. Economy Strong, Fed Chair Sees No Immediate Risk From China FOMC cut the target interest rate range three times in 2019 to offset higher prices associated with a trade war with China, but the Committee … [Read more...]

Filed Under: Market Outlook Tagged With: FOMC, Market Conditions, Market Outlook

5 Excellent Pathways To Home Ownership For Millennials

December 31, 2019 by Michael Addison

Millennials are a huge socio-demographic group of over 83 million people. Many of them want to buy a home but face challenges that their parents did not necessarily have. Homes are more expensive. In most places, home prices rebounded to exceed the pre-2008 economic collapse values. Moreover, home prices continue to go up. The encouraging news is that there is home financing readily available and mortgage interest rates are still reasonable. Even if it is more challenging, the greatest investment that most Americans can make is buying a home. Paying rent is only helping the landlord get rich. Homeownership is still highly desirable and a part of a wise long-term investment strategy. Here are … [Read more...]

Filed Under: Real Estate Tagged With: Market Outlook, Market Trends, Real Estate

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