Economic growth was weaker than expected in the second quarter and that's prompted a less optimistic outlook for the remainder of the year, according to Fannie Mae's Economic & Strategic Research Group.
Continued headwinds from a strong dollar and renewed drops in crude oil prices are expected to continue to pose economic challenges in the latest quarter, Fannie Mae economists note. But the housing market is expected to contribute to more growth this year in the economy. The main housing indicators are all well-above year-ago levels year-over-year.
"While consumer spending growth picked up as we expected in the second quarter of this year, other components disappointed," says Doug Duncan, Fannie Mae chief
WalletHub recently compared 24 key metrics in 150 of the largest U.S. cities to find the most retirement-friendly hotspots. The data sets they used ranged from measuring the cost of living and recreational activities to the percentage of the elderly population.
The following cities topped WalletHub's list of the most retirement-friendly places: 1.Tampa, Fla. 2.Scottsdale, Ariz. 3.Boise, Idaho 4.Cape Coral, Fla. 5.Orlando, Fla. 6.Sioux Falls, S.D. 7.Baton Rouge, La. 8.Port St. Lucie, Fla. 9.Overland Park, Kan. 10.Peoria, Ariz. 11.St. Petersburg, Fla. 12.Lincoln, Neb. 13.Springfield, Mo. 14.Amarillo, Texas 15.Pembroke Pines, Fla.
View the full rankings of the 150 cities and more about the methodology used at WalletHub.
Chinese home buyers, in particular, may be more cautious in entering the U.S. housing market following Monday's massive stock market sell-off that sent stocks tumbling, according to housing analysts. The sell-off began in Beijing on Monday and sent shares plunging by record amounts across the globe. Chinese media dubbed it "Black Monday" as markets fell nearly 8.5 percent there.
In the U.S., the Dow Jones industrial average plunged more than 1,000 points just minutes after the opening bell alone on Monday. The Dow made up some ground later in the afternoon but still closed nearly 600 points in the red.
John Burns, CEO and owner of John Burns Real Estate Consulting, explained in a blog post that Chinese
Home owners' credit history may have a big impact on how much they pay for home insurance, according to a new study commissioned by insuranceQuotes.com. The study examined the average impact that a credit-based insurance score has on what owners pay for home insurance.
Owners who have a fair – or median – credit score were found to pay 32 percent more for home insurance on average than someone with stellar credit, the study found. That's up from a 29 percent increase last year.
For those with poor credit, owners' premium may rise by an average of 100 percent, the study found.
According to insuranceQuotes.com, a credit-based insurance score is different from a credit score and is comprised of
REALTOR® confidence over current housing conditions and their six-month outlook for single-family, townhome, and condo properties all showed a slight dip last month – indicative of a slowing housing market, according to the July 2015 REALTOR® Confidence Index, a survey of nearly 3,000 practitioners about the state of housing. Nevertheless, the index remains well-above levels from last year.
The index that measures buyer traffic slid to 62 in July while seller traffic remained below 50 due to a tight supply of homes for-sale nationwide. Any confidence index below 50 indicates that more respondents view conditions as "weak" than "strong." Properties in July also were staying on the market longer at a median of
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