Keep Her On Your Radar!

Economist to Watch

Have you heard of Diane Swonk? No, we hadn’t either.  Watch her here take on a British commentator over Brexit and how it relates to the US economy.

  CLICK HERE and jump to minute 1:35

Ms. Swonk is really a very interesting person.  She is dyslexic, which she says is to her credit. Among being self-aware and an economist, she has a net worth of over $2 Billion – all the more reason to check her out.  

The Survey Says...

There is good news in the housing industry.  A majority of US households have a positive attitude toward housing. Based on two recent surveys by the Federal Reserve Bank of NY and Charles Schwab:

·         49% of Americans feel wealthy when they own a home.

o   62% also defined wealth as spending time with family – we like that.

o   55% indicated that wealth means having time to themselves.

·         65% of all respondents think that buying property in their zip code is a “very good” or “somewhat good” investment, compared to 60% in 2016. Only 10.6% said housing was a “bad investment”.

·         For agents wanting to target the ideal homebuyer, the favorable view on housing was particularly pronounced among younger, more educated (bachelor’s degree or more), and higher-income (annual income of $60,000 or more) households.

·         Renters who want to buy a home continue to perceive obtaining a mortgage as difficult. Renters continue to report a strong preference for owning homes, although it weakened relative to the previous two years, the survey found.

·         How much is enough? Respondents said that they believe:

o   $1.4 million is enough to be considered financially comfortable.

o   $2.4 million is enough money to be considered “wealthy”.

Infographic: What the real estate industry needs to know about millennials

According to the U.S. Census Bureau, Millennials now number 83.1M – more than one quarter of the nation’s population. As the largest demographic cohort in America, Millennials are a powerful buying force and brands are vying for their attention. They are the largest source of new demand for rental housing and represent 32% of the U.S. home buying market and 68% of first-time home buyers . As such, their preferences will greatly impact the economy and shape the residential real estate market, including how homes are built and financed.
While Millennials are key to the future of housing demand, the Great Recession has left them at a financial disadvantage and they are delaying key life milestones, such as homeownership, marriage, and having children. Economic challenges, such as rising student loan debts, stagnant wages, a competitive job market, rising rents, and high price-to-income ratios, have made it difficult for Millennials to save and/or qualify for a home. Despite their economic and financial challenges, Millennials are optimistic about their future and aspire to own a home - 84% consider a home purchase a good financial investment.
As digital natives, Millennials are the most tech-savvy generation that advertisers have targeted. They demand instant access to product information, price comparisons, and reviews and are turning to trusted brands that offer high quality, transparency, and convenience at the lowest cost. They are also adopting new approaches to finding a real estate agent, searching for their dream home, and home finance.
The infographic below shares various characteristics of Millennials and what they value in the home buying and selling experience. It also highlights their untapped demand for homeownership, which brings great opportunities for brands and those in real estate that are strategically positioned to serve them
- See more at: http://www.upnest.com/1/post/what-the-real-estate-industry-should-know-about-millennials-infographic/#sthash.lVQNlND1.dpuf




Based in Folsom, California, Sierra Pacific Mortgage has 144 offices nationwide. The Easterbrook Team at Sierra Pacific is associated with the #1 office in the nation for SPMC for the 3^rd month in a row!  We want to thank you so much for the support.  Come by and visit our office at 806 Bidwell Street in Folsom. 


John Easterbrook-NMLS 226555   Patty Aguon-NMLS 994635


Call us at 916-850-6050 for your purchase and refinance needs!