David Deem 714-997-3486 Dave@DeemTeam.com The real estate market is soaring today. Residential home values are rising, and that’s a big win for homeowners. In 2020, there was a double-digit increase in home values – a trend that’s expected to head toward similar levels this year. However, skyrocketing prices are causing some to start questioning affordability in the current housing market. Many are quick to emphasize the fact that homes today are less affordable than they were last year.  Black Knight , a leading provider of data and analytics across the homeownership life cycle, just reported on the issue. The findings show the historical averages of the national  payment to income ratio , which they define as “ the share of the median income needed to make the monthly payments on the median-priced home. ” Their study reveals: The average over the last 25 years was 23.6% The average over the last 5 years was 20.1% The average today stands at 20.5% Right now, housing...

  David Deem 714-997-3486 Dave@DeemTeam.com Some Highlights Experts project an optimistic year for the 2021 housing market. With mortgage rates forecasted to remain low, high buyer demand is expected to fuel more home sales and continue to increase home prices. Let’s connect today to determine how to make your best move in the new year. www.DeemTeam.com

David Deem 714-997-3486 Dave@DeemTeam.com Vacancy rates have decreased over the past year, according to Census reporting. For the second quarter of 2020, national vacancy rates were 5.7 percent in rental housing and 0.9 percent for homeowner housing. On the rental front, that's 1.1 percent lower than the rate in Q2 of 2019, and 0.9 percent lower than the first quarter of 2020—a small, but optimistic improvement. In the homeownership space, the rate was 0.4 percent lower than Q2 2019 and 0.2 percent lower than the year's first quarter.   The overall homeownership rate has increased to 67.9 percent—3.8 percentage points higher than the second quarter in 2019 and 2.6 percent higher than 2020's first quarter.   On a regional basis for rentals, vacancy rates in the South and Midwest reported similar numbers at 7.4 percent and 6.8 percent, respectively. Meanwhile, the Northeast had a vacancy rate of 4.2 percent in the second quarter, while the West was lower at 3.8 percent.   H...

David Deem 714-997-3486 Dave@DeemTeam.com The  Wall Street Journal  just released their latest monthly  Survey of Economists . In an  article  on the findings, they reported: “The U.S. economy will be in recovery by the third quarter of this year, economists said in a survey that also concluded the labor market will fare better than previously expected following the effects of the coronavirus pandemic.” Clearly, the latest  jobs report  from the  U.S. Bureau of Labor Statistics  confirmed the labor market is outperforming expectations, as it revealed that 2.5 million jobs were added. Directly before the release, experts forecasted that we would  lose over 8 million jobs . A second revelation indicating the economy is already about to turn around was also somewhat unexpected. More than 9 out of 10 economists surveyed believe the recovery has already begun this quarter or will begin in the third quarter. Here are the results of the survey ...

David Deem 714-997-3486 Dave@DeemTeam.com Commentary by Desirée Patno Single women have outpaced men in homeownership since 1986, according to the U.S. Census Bureau. By and large, college-educated women who have delayed marriage have greater buying power and overall financial independence. As more single mothers enter the labor force, they are one step closer to financial independence and being able to afford a home. Despite facing many barriers to employment, such as finding affordable childcare and predictable work schedules, the share of young, single mothers in the workforce increased 4 percentage points since 2015, as shown in recent Current Population Survey (CPS) data. The rise in single mothers entering the workforce has been a response to less reliable federal policies, such as welfare, that have left working for pay the only option. In addition, new policies at the local level, such as paid leave, minimum wage increases and other family-friendly policies, have ...