QUOTE OF THE WEEK... "Learn from yesterday, live for today, hope for tomorrow." --Albert Einstein, German-born theoretical physicist
INFO THAT HITS US WHERE WE LIVE... Einstein's scientific genius provides some smart advice for today's housing market. "Learn from yesterday": we recently learned that the home price decline a few years ago was not as severe as originally thought. Property values nationally, from their February 2007 peak to their December 2011 trough, only dropped 26%, not the 34% originally reported. This finding comes from analysts at the well-regarded S&P/Case-Shiller Home Price Index, who just spent more than a year re-working their model with a bigger, higher quality set of data.
"Live for today": consider a recent report from a major real estate information company. They found that despite the challenges faced by first-time home buyers under age 35, 96% of the U.S. housing market the company measured is still affordable for recent graduates making the median household income, even if they have student loans. This flies in the face of the rampant media speculation that student loan debt is holding back home buying among recent graduates. "Hope for tomorrow": we can all find this in the report that construction spending in July made its biggest jump in two years.
BUSINESS TIP OF THE WEEK... Don't wait until the last minute to start thinking about a problem. Give yourself time to let your subconscious mull it over. This is why people can literally sleep on a problem and wake up with the answer.
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