Hey Friends,
I have 6 fun facts to share with you today. As always, my weekly quote to ponder awaits you below. Have a great weekend!
Blessings,
Andrew
Fun Fact 1:
Interest on the national debt now eclipses $3 billion a DAY.
Source: Treasury Department Data
Fun Fact 2:
The median down payment for US homebuyers has moved up to a record $67,500. That’s 116% higher than the median down payment 5 years ago ($31,250).
Source: Redfin
Fun Fact 3:
Higher prices obviously require a higher down payment. And home prices in the US continue to hit record highs, with the Case-Shiller National Index up 5% over the last year.
Source: Charlie Bilello
Fun Fact 4:
Higher mortgage rates have incentivized homebuyers to put more money down, borrowing less. The typical homebuyer down payment has moved up to 18.6%, the highest level in over a decade.
Source: Redfin
Fun Fact 5:
If you don’t have money saved for a big down payment, housing remains unaffordable for many. The main reason is that price appreciation has far outpaced income gains. The Case-Shiller 20-City Index is up over 52% in the past 5 years while wages have grown 24%.
Source: Charlie Bilello
Fun Fact 6:
Supply has been slowly rising for months and inventories are now at their highest levels since 2020.
Source: Charlie Bilello
Quote I’m pondering:
“It is impossible to get better and look good at the same time. Give yourself permission to be a beginner.” — Julia Cameron
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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.
