Hey Friends,
I have 4 fun facts to share with you today and my weekly quote to ponder. Have a great weekend!
Blessings,
Andrew
Fun Fact 1:
New home sales rose in all four regions last month, with the Northeast posting a 27.8% surge. Sales in the Midwest gained 5.3% and increased 7.7% in the densely populated South. They vaulted 8.6% in the West.
Source: Reuters; LSEG Datastream / S. Culp 23/04/2024
Fun Fact 2:
Only 33% of Americans pay off their credit cards in full every month. The rest start paying interest on purchases from Day 1 and often don’t stop paying interest — not to mention interest on that interest — for decades. (No graphic.)
Source: Federal Reserve Bank of Philadelphia
Fun Fact 3:
US Existing Home Sales fell 4% over the last year, the 31st consecutive YoY decline. That’s the longest down streak in activity since 2007-2009.The biggest factor continues to be a lack of affordability, which is hitting both demand (buyers can’t afford the houses for sale) and supply (existing homeowners locked into low rates can’t afford to move).
Source: Charlie Bilello
Fun Fact 4:
The monthly mortgage payment needed to afford the median priced home for sale in the US has increased 88% over the last 4 years (from $1,480 to $2780).
Source: Redfin analysis of MLS data, Freddie Mac Primary Mortgage Market Survey
Quote I’m pondering:
“Someone is sitting in the shade today because someone planted a tree a long time ago.” -Warren Buffett
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Disclaimer: All information provided is for educational purposes only and does not constitute investment, legal or tax advice, an offer to buy or sell any security, or to buy or sell real estate property. Read our full disclosures HERE.
