Thanksgiving Dinner 35 Year Low, Homes Appreciate 7% Nationwide
For 2020, the average cost of a Thanksgiving Dinner for 10 people was $46.90. This is a 4% decrease from last year and the lowest level since 2010. If you adjust for inflation, there hasn’t been a cheaper year since the survey started in 1986. Turkey prices dropped 7% year over year to $1.21 per […]
2021 Contribution Limits, Appreciation Strong
The IRS increased contribution limits for SEP IRA & Solo 401K contributors by $1,000. They did not increase the limit for traditional and Roth IRA’s and slightly increased the HSA contribution limit. All of these accounts enjoy tax advantaged growth. Rates – experienced nominal fluctuation this week. The 10 Year US Treasury note continues its […]
Higher Priced Homes Selling, Builders Confident, Forbearance Update
Homes in the $100,000 to $250,000 range only saw a 4% gain in sales compared to a year ago, while sales of homes costing more than $1 million more than doubled. Lawrence Yun Rates – ticked up marginally this week maintaing the slight upward trend over the last quarter. They remain nearly 1% lower than […]
Pandemic Impact, Job Update, Home Sales Soar
In a survey by the Federal Reserve, a surprising 77% of people said they were doing ‘OK’ financially at the end of July which is a 2% increase year over year. Some of this sentiment coincides with timing of unemployment benefits. The restaurant sector is experiencing major pain but Americans are consuming 40% more pizza […]
Home Improvements Rise, Inflation Up, Jobs Update
Google home improvement searches are up 50% from last year. 3/4 homeowners surveyed by porch.com reported they had completed major home remodels since covid. Deck construction is up 275%, landscaping hires are up 238%, and fence installation is up 144%. More time at home, extra cash on hand (from not going out/traveling), and low interest […]
Duels, Gambling, & Finance, Home Appreciation, Jobs
John Law – wins in a duel in London and is convicted of murder. He escapes from prison, flees the country, and arrives in France. There he leverages his understanding of statistics to earn a small fortune gambling, which he builds into a large fortune by creating a paper money system and giving birth to […]
Consumer Trends, Rates Inch Up, Home Sales on Fire
In addition to purchasing more groceries, consumer buying patterns have impacted other non-obvious sectors. Sales are up on cigarettes, used cars, energy, camp supplies, and fake meat. Rates – moved up slightly this week as the 10 Year US Treasury increased for the 3rd consecutive week. Rates are down 3/4% from this time last year. […]
Home Sales Soar & Jobless Claims Continue
Rates – mortgage rates decreased slightly this week after increasing noticeably last week. Rates are down 3/4% from this time last year. Jobs – the number of people filing for unemployment for the first time increased this week and bumped above the 1M threshold. If you add the number of people filing for unemployment on […]
Retail Sales, Refi Fees, Rates Increase
Retail Sales – improved to higher than pre-covid levels. Electronics and appliances for home remodels led the way in July. Clothing & gasoline sales also increased significantly. Rates – bumped up this week after steadily decreasing for the last 70 days. The increase was minor but the 10 Year US treasury and Mortgage Backed Securities […]
Location? Jobs, Rent, Appreciation
Housing Boom – suddenly the mantra location, location, location doesn’t seem as relevant when: many people are working remotely, most schools are going virtual, and everyone wants more space. Redfin site traffic is up 40% since the pandemic and pending sales are at historic highs. The traffic to listings that are in towns with populations […]