The Federal Reserve has raised the prime interest rate for the second time this year alone and the seventh time in the past two years. Not only is this the second rate increase this year already, but the Fed is also expected to raise the rate at least two more times before 2019. After meeting for two days, the Federal Open Market Committee held a vote for the increase its benchmark fed rate. This is the sixth rate increase in three years and moves the central bank further away from fiscal policies which helped America regain some momentum in the markets to recover from the recession a decade earlier. This rate increase comes on the heels of a strong economic outlook and the expected rise in GDP.
Now is a smart time to lease to own homes in Charlotte, NC. The city of Charlotte is one of the best places in the country for overall job growth and career opportunities. In addition, Charlotte is the second largest banking hub in America behind Wall Street. It is also one of the most romantic cities in America, one of the top cities where Millennials are moving, one of the top craft beer cities, and a quickly growing culinary hotspot. Charlotte’s local slogan “It has a lot.”, is not just fluff.
San Diego, CA is one of the fastest growing cities in the USA and is the second largest city in the great state of California. There is no other place in the United States with a similar blend of culture, weather, and economic opportunity than beautiful San Diego, California. No amount of text in an article can genuinely describe San Diego the justice it deserves; it is just one of those places you have to experience yourself.
The Tax Bill recently introduced by Republicans in Washington is raising some concerns for Americans about whether or not they want to own a home.
The bill would limit the cap on deducting state and local taxes (SALT) down to $10,000 leaving many homeowners in the states with highest tax rates feeling quite wary about how much they’ll owe in taxes next year and the years to come. Many homeowners living in suburban cities pay more than $10,000 in property taxes yet have incomes around $75,000.
The housing market could be in store for some changes in the near future. One of the top survey’s which captures consumer sentiment on home purchases has fallen after breaking a few records back in February. The Federal National Mortgage Association, more commonly known as Fannie Mae maintains a long standing index compiled from answers to an NHS survey. The index, called the HPSI (Housing Purchase Sentiment Index) is intended to gauge consumer confidence in the housing markets and is comprised of six components. Five of those components fell in March, some dramatically.
The low inventory of housing has been the subject of some heated debate recently. There’s a great deal of people who lay the burden of the low inventory issue squarely on the shoulders of the builders. Others, such as this report from Trulia, see it as a combined problem of many factors coming together. Let’s examine some of these factors.
2016 was a record year for home sales. With an average of 52 days on market, homes were quickly coming off market, resulting in numerous bid-wars. Experts in the industry credit the high demand combined with low mortgage interest rates as the fuel that fed the housing market last year. Additionally home prices are almost back to their pre-recession peaks. So where does that leave us for 2017?