Posts made in June 2016

More Kids Living in the Basement

That’s a fact.  (And we all know what the 1930’s were about.)

Whether it’s due to long term trends about marriage, overwhelming student loan debt, a negative attitude toward acquiring things, a delay in taking on adulthood, some combination of the above, or something else entirely, Millennials are living with their parents in numbers not seen since the Great Depression.

32% of 18-34 year olds are living “in their parents’ basement.”  That’s now more than are living with a spouse or partner.  And it’s not all about student loan debt, as 36% of those with a high school education or less are living at home.

The age when young people first get married has risen from 21.3 years in 1956 to 25.8 in 2008, and is escalating quicker, with the current number all the way up to 27.8 years.  It appears that somewhere over a quarter of those in high unemployment groups and those with lower income prospects are not marrying and may never marry.

Maybe this is just another reason why KBaby Boomers are not putting their big houses on the market and looking to downsize?

I don’t claim to have all of the answers, but I do my best to keep a finger on the pulse of what’s going on in your housing market.  Remember…

 “I work harder to make good things happen!”  -Bob


Housing Market Surges Higher

The May numbers are just in, and they say the market was “Red Hot” in May!!!  Closed sales were up a torrid 19% over last May, and plus 9% for the past 12 months.  (That was even more than for any month back in 2006.)  Couple that with a scarcity of new listings, and the amount of available inventory continues to be tight, down 11% from a year ago.  That combination of forces has also pushed the median average price up to $159,000.  (That’s plus 4% over last May and DSC04420the highest that number has EVER been.)

Homes sold for 95.7% of their original asking price.  Many wannabe’ buyers who attempted low ball offers were simply left out in the cold.  Bottom line, if you’re serious about buying a new home, then you need to be serious with your offer.

If you’d like a hand taking advantage of what this Red Hot market has to offer, do give me a call.


 “I work harder to make good things happen!”  -Bob