Ryan discusses the death of Osama Bin Laden; Ryan reviews the economic news of the week; Ryan notices the correlation between increased home sales and interest rate drops; Louis notes we can't expect the housing market to be supported by further decreases in rates as they are already near historic lows; Ryan explains that interest rates change once every four hours; Ryan notes the difference between getting a quote and being locked in to an interest rate; Ryan advises the importance of keeping in touch with your mortgage lender; Louis notes that interest rates change a lot faster
than home prices; Ryan notes that the consumer confidence was up, Ryan and Louis discuss the Fed's decision to keep interest rates where they are and to continue the $ 600 billion QE2 program; Ryan and Louis discuss the Fed's view that inflation is nascent; Louis notes that not only does the Fed not see inflation that exists but disclaims any responsibility for it; Louis asserts that there is a correlation between oil prices and Fed policy; Louis discusses Ben Bernanke's assertion that the Fed can't control oil prices but that they somehow can control the impact of higher oil prices on the rest of the economy; Louis also remarks on Bernanke's view of the dollar - the claim that a strong dollar can be achieved through the Fed's current policy as it is their belief that they are creating a sound economy and therefore a sound dollar; Louis notes the irony of the Fed chastising Congress» spendthrift ways — if the Fed did not monetize the debt, Congress could» nt spend; Louis noted that as Bernanke spoke the prices of gold and silver rose as it seemed that the Fed has no interest in cutting off the easy money; the current Fed policy will keep interest rates low; Ryan notes that the Fed knows that they can't let interest rates rise because of the housing mess; Louis notes that the Fed has a Hobson's Choice - either keep rates low or let interest rates rise and cut off the recovery.
Rents, however, are far more stable
than home prices as the graph below shows.
The median existing - home price in August was $ 219,800, which is 4.8 percent higher
than home prices in August 2013.
Meanwhile, rents are rising faster
than home prices.
- Rents will rise higher
than home prices.
However, the situation that disposable personal income grows faster
than home prices only lasts six months.
It's no surprise, then, that auto prices have held up better
than home prices as borrowers find easier access to auto credit than mortgage loan credit.
More and more of you are waking up to the fact that rents are rising now faster
than home prices.
But in most markets, rental prices are far less volatile
than home prices (from the San Francisco Federal Reserve):
OSFI is setting a new minimum qualifying rate, or «stress test,» for uninsured mortgages (mortgage consumers with down payments 20 % or greater
than their home price).
That's a total of $ 342,493, or $ 92,493 more
than the home price of $ 250,000.
Not exact matches
Prices are rising faster
than anywhere else, and Toronto luxury
homes are selling faster
than in New York, Paris or London
If you only put 5 % down on a $ 450,000
home and
prices dropped by 20 %, your
home would be worth less
than the amount you owed on the bank — and this could spell trouble when it came time to renew your mortgage.
In February The New Yorker profiled the super-rich kids of the Chinese billionaires and millionaires who are either partially, mostly or wholly responsible for driving the
price of an average
home in Canada's third - biggest metropolitan area to more
than $ 1 million.
Priced lower
than the previous generation, the all - new Amazon Fire TV is one most affordable ways to stream 4K Ultra HD on your TV at
home.
He had taken some steps to curb demand during his first year in office, such as raising the minimum downpayment for
homes priced higher
than $ 500,000.
Home prices in the District are notoriously high, but there's more to the story
than that.
In January,
home prices in 70 Chinese cities jumped another 6.3 % from the year before, and have more
than tripled in the past five years.
Canadian teams are guaranteed to sell out their
home games most of the time, which has long kept ticket
prices higher in Canada
than for most American teams.
In the past year, major cities have occasionally seen bidding wars — not for
homes but for prime rentals, with choice units renting for higher
than asking
price.
According to Chris Matcovich, vice president of data and communications at TiqIQ, the average ticket
price for a Yankees»
home game during the 2014 season increased to more
than $ 217 from $ 206 within just a couple hours of the retirement news.
While the average
price of a Vancouver
home is now more
than 11 times the average family's income, the rental market has stayed earthbound.
Early Thursday morning, the average ticket
price for the Yankees» final 2014
home game in New York, scheduled for Sept. 25 against the Baltimore Orioles, was listed at more
than $ 1,200 on TiqIQ, an online ticket portal.
Another driving the higher
prices: More buyers are choosing to bundle at -
home care and nursing
home care together, rather
than simply pay for one or the other.
According to TiqIQ, the average ticket
price for Jeter's last regular - season
home game has already reached more
than 2 1/2 times the peak average
price for the final
home game of all - star pitcher Mariano Rivera, who debuted with the Yankees in 1995, the same year as Jeter, and retired last year after 19 seasons with the team.
The median existing
home price in July — $ 258,300 according to NAR — was 6.2 % higher
than last year.
Fortune's Don Reisinger noted in his review that the HomePod's sound was better
than the Echo and
Home, but he conceded that the «sound quality isn't something that can justify its lofty
price tag.»
But Schembri's speech showed that the Bank of Canada remains more concerned about the 18 % plunge in Canadian commodity
prices this year
than the 10 % jump in the average national resale
price of
homes since 2013.
Soaring
prices are hitting the vacation
home market, as a growing number of Americans now choose to rent rather
than buy their beach and mountain
homes.
In fact, a million - dollar
home in Dallas is more
than twice the size of a similarly
priced house in Los Angeles, according to real estate listing site Trulia.
But then the average
home price soared more
than 30 per cent since the start of 2016 alone.
In fact, there were 223 fewer
homes for sale at this
price than in 2016, for a decline of about 22 percent.
Despite the lofty
prices, more
than one third (34 percent) of the millennial respondents are aiming to buy a
home in the next year.
The median
home price in San Francisco has skyrocketed more
than 64 percent to $ 1.13 million in June 2016 from $ 687,000 in June 2012, according to Zillow.
In place of physical stores, it has a network of more
than 450 commissioned sales agents throughout the country who visit shoppers»
homes, take their measurements, and help them select bras (
prices, which range from $ 40 to $ 80, include a complimentary fitting session).
While overall low inventory has led to competition in some markets — about a quarter of 2017
home sales yielded sales
prices higher
than the asking
price, according to Zillow — it's a different story for some sellers.
That pushed the median
price up a whopping 20 percent; that
price, however, is just $ 129,000, considerably less
than the national median
home price of $ 202,600, according to the National Association of Realtors.
Average sales
prices fell 15 percent and the supply of
homes on the market is now longer
than two years.
Part of what makes the Google
Home Mini and the Amazon Echo Dot so successful — besides their size and
price point — is that they're no less powerful or helpful
than their larger counterparts.
Home prices more
than quadrupled, beating the S&P 500 by more
than 50 percent.
The estimated monthly house payment for a median -
priced, three - bedroom
home purchased at the end of 2013 was a whopping 21 percent higher
than it was at the end of 2012, according to RealtyTrac.
During that time, gas
prices in Alberta where actually higher
than prevailing LNG
prices, and so developers thought they could earn a return re-gasifying LNG on the B.C. coast to ship inland to supply our
homes and businesses.
This translates into transit - accessible family - friendly housing that offers more space and land
than Metro Vancouver
homes at around the same average selling
price.
But
home tickets for Canadian NHL teams are sold on the secondary market for substantially higher
prices than primary listings, according to a post last year on The Score's Backhand Shelf blog.
More
than US$ 500 trillion worth of contracts — everything from swaps and futures contracts, to
home mortgages and student loans — were
priced using LIBOR rates last year.
Even more worrying, the average
home price in Vancouver is now down more
than 12 % from a year ago — a worrying sign for the country's priciest city.
With median rent on a one - bedroom apartment hovering around $ 3,000 and
prices in nearby Oakland, California, climbing, area residents routinely put more
than half their take -
home incomes toward housing.
The median
home price in Holland, which ranked as the No. 65 city for business costs, according to WalletHub, is just $ 118,000 — significantly lower
than the overall U.S. median
home price, which is $ 301,400, according to the most recent available data from the U.S. Census Bureau.
Under this system, tariff s of 200 % to 300 % are imposed on foreign milk and milk products while here at
home,
prices are manipulated to the point where, according to a paper by former Liberal MP Martha Hall Findlay, a typical Canadian family is paying in excess of $ 300 a year more
than they need to for milk alone.
«These projects were
priced much lower
than market expectation, in some cases even cheaper
than surrounding second - hand
homes.