Basking in Some Recent
Good Housing News
Interesting statistics and trends have been reported by the Bureau of Economic Analysis recently.
Refreshingly, they show some positives have finally come to many current households ... and provide reason for some momentary basking.
Did you know ...
* That household interest payments have fallen to an average of $469/month (as of the end of 2011).
* That this amount is DOWN from a 2007 high of $728.
* That translates to an average of $3,300 being saved each year.
Also ... Did you know ...
* That 5.8% of after-tax income is now earmarked for interest payments on car loans, credit cards, mortgages, and other various loans.
* That this is the smallest percentage of after-tax income share spent since 1977, and an improvement in share ... down from the highest level, found in 2007, when it reached 9.1%.
(As reported in the article, "3 Trends to Watch",
Scotman Guide /Residential Edition/7/2012)
Improvements in these areas and statistics must obviously still be pursued, but they also show a much-desired and long-needed "ray-of-hope".
Pair the above-mentioned positives with the following:
* According to the , new housing permits, which began a climb last fall (2011), are at their highest level in more than 3 years.
* The National Association of Home Builders/Wells Fargo Housing Market Index is reporting that builder confidence is at its highest level in five years.
Add-up all these things reported, and you have some reason to believe that we finally may be seeing some light at the end of the tunnel, namely the housing recession.
This is NOT meant to be a political statement or forum. I believe these positives should feel good to anyone, and certainly those doing business within, or-reliant-upon, the health of our real estate industry. As I pointed out, they are not signs of completely restored health ... or an end to the need for vigilance or efforts to further improve and heal our industry and economy.
But at least for the moment, they do my eyes and heart good. Basking in these new positives provides me the strength to face the challenges still faced.
* Contact me today, should you seeking guidance, info, or assistance regarding credit or mortgage service. I can be found at any of the following: