For those of you that do not Tweet – you should consider doing so. If you want to talk about effective bang for the buck, the 140 total characters, letters, numbers and spaces of a Tweet on Twitter certainly qualifies. Who knew you could say so much in so little?
More important perhaps, is that Millennials — Social Media Core Users — are not only the largest population cohort ever seen in the U.S., but also, as of 2016, the largest home buying segment according to the National Association of Realtors®. Join in or check out, so-to-speak, with the massive economic group.
Tweeting reminds me of Mark Twain, who wrote, “I would have written you a shorter letter but I didn’t have the time.” You need to pack a lot in a little space.
Twitter followers on DrTCJ now total 2,345 – please tell friends and colleagues. This is the every-other-week of Jones on Real Estate blog posting covering the latest Tweets.
While you may recognize some of the data from my blog, there are always items that just get Tweeted. I am always looking for “I did not know that” information.
DrTCJ’s Tweets June 17, 2016 Through July 7, 2016
Mortgage Rates now at 3.41% are just 10 points basis points above the all-time record low of 3.31% set in November 2012 – Freddie Mac
New 2015 Single Family Construction Exteriors NAHB – http://eyeonhousing.org/2016/07/vinyl-is-the-most-widely-used-exterior-on-new-homes/ …
10-year Treasury closed at an all-time record low July 5th at 1.367%, first time ever below 1.4%, portending record low residential rates
Chinese bought 29,195 US properties at a median $542,084 (+2X the median US home price of $223,058) in the year ending March 31, 2016 – NAR
Chinese were the #1 foreign buyer of US real estate for the 12 months ending March 2016, the 4th year in a row, spending $27.3 billion – NAR
Apartment rents rose 4% in Q2 2016 vs a year ago, down from 5% YOY posted in Q4 2015 per REIS, Axiometrics says up 3.7% in Q2 2016 YOY – MBA
Commercial real estate lending in 2016 is revised to $500 billion in 2016 down from $511 billion, now 1% less than 2015 – MBA
BREXIT impact to lower rates saw refi applications jump to highest since January 2015 with loan applications up 14.2% week-over-week – MBA
Total European commercial real estate investment activity fell 16% to €50.7 billion in Q1 2016 vs a year ago – CBRE European Investment
11% of commercial real estate transactions in progress in the UK following BREXIT were canceled, 28% renegotiating price, 2% closed – JLL
Home Prices Furthest from the Peak as of May 2016 @CoreLogicRES
Largest 12-Month Home Price Appreciation – May 2016 – Excluding Distressed Sales @CoreLogicRES
Biggest Home Price Gains – Including Distressed Properties 12 Months Ending May 2016 @CoreLogicRES
US home prices, including distressed sales, are forecast to hit a new all-time record high in September 2017 – CoreLogic
US home prices, including distressed sales, at the end of May 2016 were 7.2% below the all-time record set in April 2006 – CoreLogic
US home prices rose 5.9% in the 12 months ending May 2016 and are forecast to rise 5.3% in the 12 months ending May 2017 – CoreLogic
Use of jumbo mortgages grew to 24% of all loan approvals at in 2015 at 6 of the largest US banks from 21% in 2014 – @HousingWire
Top Reasons People Select a Residential Lender @HousingWire
Why People Chose the Mortgage Loan in the Home Purchase Process @HousingWire
3 in 10 potential homebuyers (30%) do not shop for a mortgage loan (non-cross shoppers) while 7 in 10 shop (cross-shoppers) – @HousingWire
Hispanics accounted for 69% of the total net growth in homeownership in 2015, but have just a 45.6% homeownership rate – HWP
Manhattan apartments sales were off 10% in Q2 2016 vs YOY, average price was up 16% to $2.08 million & median +13% to $1.1 m – Halsteads
Homes in gated communities have an approximate price premium of $30,000 but owners should expect greater amenity maintenance costs – ARES
UK’s Treasury Chief proposes to cut corporate tax rate from 20% to 15% to counter BREXIT issues – versus US 35% Federal Rate – WSJ
11.6 Million New Jobs Post Recession 11.5 Million to those with some college 8.4 Million to Bachelors and up 80,000 High School or less
Responding Social Media is Important in Professional Life 4% Baby Boomers 7% Gen Xers 20% Millennials Transwestern via Houston Chronicle
The current 10-year Treasury yield at 1.46% portends a sub 3.4% 30-year fixed rate residential loan – Ted C. Jones, Stewart Title
The 10-year Treasury traded briefly Friday at the lowest level ever recorded at 1.385% due to flight to quality following BREXIT vote – WSJ
U.S. Worker’s Educational Attainment Levels — 2007 vs 2016 @MarketWatch
The College Degree is the New High School Diploma @MarketWatch
An all-time record 43 million travelers are expected this 4th of July weekend, with 34 million driving (36 million people on the road) – AAA
Difference Between Typical 30-Year Old in 1975 and 2015
Booming Leisure & Hospitality – With gasoline prices at the lowest in 11 years, American
Portland Oregon City Council approved a fee of 1% of the building permit value on all commercial development to subsidize affordable housing
State and Local Government Sources of Tax Revenues
$524 billion of property taxes were paid in the 12 months ending March 31, 2016, a gain of $22 billion up 4.4% year-over-year – NAHB
Q2 2016 Condo and Coop sales in Manhattan were at the lowest number seen since 2009, down more than 10% YOY – WSJ, NYC Dept of Finance Data
30-year residential loan rates fell to 3.48%, just 17 basis points away from the all-time low of 3.31% hit in November 2012 – @FreddieMac
Average US apartment rents have now risen 67 consecutive months to an average $1,282 monthly – RealPage via USA Today
While California did 13.1% of all US residential purchase lending in May 2016, they did 18.9% of all refinance lending – MBA
Federal highway spending challenge: Federal 18.4 cents per gallon gas tax unchanged since 1993 with CPI up 58.3% since then
Boomers & Millennials tally to 150 million Americans with $5.5 trillion in annual spending power, almost 30% of GDP – Marcus & Millichap
Almost 40% of the Baby Boomers aged 56 & up prefer to move one more time with 70% likely to purchase vs rent – Freddie Mac Boomer Survey
Global Sovereign Debt with negative yields increased to $11.7 trillion, up $1.3 trillion following the BREXIT Vote – FitchRatings
Top Housing Markets for Growth & Stability — SmartAsset http://www.marketwatch.com/story/10-most-stable-housing-markets-in-america-2016-06-28 …
1 Boulder, Colorado
2 Austin-Round Rock, Texas
The MBA is forecasting a Federal Reserve rate hike in July 2016 and another at year end despite BREXIT issues – MBA
The May 2016 pending home sales index (newly signed contracts) dropped 0.2% from a year ago and was down 3.7% from April 2016 – NAR
May 2016 employment was up in 311 of the 387 Metropolitan Statistical Areas (MSAs), down in 70 and unchanged in 6
Millennial Marketing — The Snapchat App is used by 60% of US Smartphone owners aged 13 – 34 – ADWEEK
Snapchat Geofilters (graphic overlay that shows Where and When the picture-video was taken) are viewed 800 million times each day – AdWeek
Snapchat Video Views last year rose 350% to 10 billion per day with more than 60% of the 150 million global users posting every day – AdWeek
Most expensive home prices are up 4% per year since 2015, but the bottom of the market, entry level homes, are up 8% – Zillow via RISMedia
53% of Americans Made Sacrifices to Afford Their Home in the Past 3 Years MacArthur Foundation THE WASHINGTON POST
California May 2016 pending home sales (newly signed purchase contracts) were up 3.8% vs 1 year ago – California Association of Realtors CAR
10-year Treasury rate down 25 basis points on the BREXIT results as global investors board the flight to quality in uncertain times
Get your own Twitter account and Tweet away — and of course retweeting the ones of mine you find interesting.
Want to see all of my tweets or follow? Click https://twitter.com/drtcj
If this 62-year old can Tweet, so can you.
Ted