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JUST THE FACTS - 7/31/2015   HOME OWNERSHIP and The First Time Home Buyer                 

      MEDIUM FAMILY INCOME
      DOWN -8.34% 
IN 2015. 
      YOUR 2007 $100.  DOLLARS
       IS WORTH $87.66 IN 2015

      BUYING POWER DOWN 25%

VALUE FOR YOUR DOLLAR
 IF YOU WENT TO THE STORE IN 2007 AND PURCHASED AN ITEM FOR $100. DOLLARS, THAT ITEM 
COSTS $115.09 IN 2015
  
RETAIL PRICES UP 

What's the Risk?
The current median household income for the United States is $52,250. in 2013

Real median household income peaked in 2007 at $57,006 and is now (-$4,756)  or about -8.34% lower.

Unconfirmed numbers for 2014 will be available 9/2015.
Jobless Claims are Up to a 5 month high.

First Time Home Buyers + Step up Buyers
Todays market is a good time to buy.

Sellers are having to compete for buyers that gives the buyer an edge to aquire property a lower price.

Most areas are seening a 10% to 15% lower sales price. 

Compared to the asking price or actual Fair Market Value (closed sale price) of a similar home sale in 7/2014.

MORTGAGE RATES 
HOUSING MARKET AFFECT
CURRENT HOME OWNERSHIP
  BUY-SELL ISSUES

MORTGAGE APPLICATIONS ARE UP 8/10TH OF 1%
as interest rates eased Down slightly for the month of July 31, 2015.

What does this mean?

The Real Estate Economy is not improving in the USA.

The 1/2% increase in Mortgage Interest Rates is having an adverse affect on the real estate market.

If you are in the Jumbo over 417,000 price range some areas are up 5%.

  1. NEW HOME SALES ARE DOWN
  2. EXISTING HOME SALES ARE EVEN
  3. PENDING HOME SALES ARE DOWN
  4. HOME OWNERSHIP RATE IS DOWN
  5. CONSTRUCTION SPENDING DOWN


WHY?

  1. Mortgage Interest Rates are up 1/2% since the begining of 2015.

    More Obama math:
    Feds agenda has scheduled to increase rates and rates will continue to rise to the end of 2015.

 Mortgage Bankers Association Interest Rate Survey 2015

United States MBA 30-Yr Mortgage Rate

Commercial  Loan Rates
5  Yr. Fix/25 Yr 5.975% Up from 11/31/2014
7  Yr. Fix/25 Yr 6.325% Up from 11/31/2014
10 Yr Fix/25 Yr 6.450% Up from 11/31/2014
25/25 Fix/Arm
DSCR 1.25% - 1.40% Unchanged
CAP RATE 8.0 - 8.5 - 9.0 Unchanged
Residential Loan Rates
30/30 Fixed - 417K 4.17% Up From 1/1/2015
30/30 Fixed +417K 4.05% Unchanged 6/2015

USA PERSONAL ECONOMIC INDICATORS 

Youth Unemployment Rate 12.10

 

Wages 10.49
Wages in Manufacturing 19.84

 

Minimum Wages 7.25

 

Average Weekly Hours 34.50
Retirement Age Women 66.00
Retirement Age Men 66.00

    Life Expectancy Age 92

US Jobless Claims Up to 5-Month High
The number of Americans filing new claims for unemployment benefits increased by 15,000 to 297,000 in the week ended July 4th. It is the highest figure since late February.
Published on 2015-07-09

Jobless Claims at 5-Week High
The number of Americans filing new claims for unemployment benefits increased by 10,000 to 281,000 in the week ended June 27th from 271,000 in the previous week.
Published on 2015-07-02

 

USA NEEDS A 3.5% AVERAGE INFLATION RATE FOR ECONOMIC GROWTH (job and income) IN THE US.

THE ONSET OF A ENCONOMIC DEPRESSION IN 2009 IS MOST SIMILAR TO THE YEAR END 2014 AND CURRENT 2015 FIGURES.

 

                        2009   US Bureau of Labor Statatics                          2015

Historical Data Chart

 

 

 

 

FORCLOSURES ------- 582,172
1/1/2015  TO  7/31/2015^

1/1/2015 TO 12/31/2015
____________

FORCLOSURES ------- 861,664
1/1/2008 TO 12/31/2008

OOA-TV   Copyright 2015                                           Robinson Reporter Tracking America's Future
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