Comments at Funmunch.com
Monday, November 21, 2011
Friday, November 4, 2011
Census: More young adults are living in their parents’ home!
WASHINGTON – Nov. 3, 2011 – Between 2005 and 2011, the proportion of young adults living in their parents’ home increased, according to the U.S. Census Bureau. The percentage of men age 25 to 34 living in the home of their parents rose from 14 percent in 2005 to 19 percent in 2011 and from 8 percent to 10 percent over the period for women.
These statistics come from America’s Families and Living Arrangements: 2011, a series of tables from the 2011 Current Population Survey, which provides a look at the socioeconomic characteristics of families and households at the national level.
“The increase in 25- to 34-year-olds living in their parents’ home began before the recent recession, and has continued beyond it,” said the author, Rose Kreider, a family demographer with the Fertility and Family Statistics Branch.
Similarly, 59 percent of men age 18 to 24 and 50 percent of women that age resided in their parents’ home in 2011, up from 53 percent and 46 percent, respectively, in 2005. It should be noted that college students living in a dormitory are counted in their parents’ home, so they are included in these percentages.
Other highlights:
In general, the percent of all households that contain just one person has increased over the last half of the 20th century and into the 21st century. The percentage of such households rose from 13 percent in 1960 to 28 percent in 2011. While the percentage may not differ significantly from one year to the next, the overall trend has been an upward one. The percentage did decline, however, from 2008 to 2010.
Of the 74.6 million children younger than 18 in 2011, most (69 percent) lived with two parents, while another 27 percent lived with one parent and 4 percent with no parents. Of those children who lived with two parents, 92 percent lived with two biological or two adoptive parents.
Among the children who lived with one parent, 87 percent lived with their mother.
Of the children living with no parents present, 57 percent lived with at least one grandparent.
In 2011, 10 percent of children under 18 lived with at least one grandparent. Seventy-eight percent of these children also lived with at least one parent.
Of the 67.8 million opposite sex couples who lived together, 89 percent were married couples, while the remaining 11 percent were unmarried.
In 2011, there were about 7.6 million unmarried couples living together.
In 2011, married couples with children made up 20 percent of all households, half what they were in 1970 (40 percent).
In 2011, 23 percent of married couple family groups with children younger than age 15 had a stay-at-home mother. This proportion decreased in the last few years during the recession. In 2007 — before the recession began — the corresponding figure was 24 percent.
The Annual Social and Economic Supplement to the Current Population Survey was conducted in February, March and April of 2011 for a nationwide sample of about 100,000 addresses.
© 2011 Florida Realtors®
These statistics come from America’s Families and Living Arrangements: 2011, a series of tables from the 2011 Current Population Survey, which provides a look at the socioeconomic characteristics of families and households at the national level.
“The increase in 25- to 34-year-olds living in their parents’ home began before the recent recession, and has continued beyond it,” said the author, Rose Kreider, a family demographer with the Fertility and Family Statistics Branch.
Similarly, 59 percent of men age 18 to 24 and 50 percent of women that age resided in their parents’ home in 2011, up from 53 percent and 46 percent, respectively, in 2005. It should be noted that college students living in a dormitory are counted in their parents’ home, so they are included in these percentages.
Other highlights:
In general, the percent of all households that contain just one person has increased over the last half of the 20th century and into the 21st century. The percentage of such households rose from 13 percent in 1960 to 28 percent in 2011. While the percentage may not differ significantly from one year to the next, the overall trend has been an upward one. The percentage did decline, however, from 2008 to 2010.
Of the 74.6 million children younger than 18 in 2011, most (69 percent) lived with two parents, while another 27 percent lived with one parent and 4 percent with no parents. Of those children who lived with two parents, 92 percent lived with two biological or two adoptive parents.
Among the children who lived with one parent, 87 percent lived with their mother.
Of the children living with no parents present, 57 percent lived with at least one grandparent.
In 2011, 10 percent of children under 18 lived with at least one grandparent. Seventy-eight percent of these children also lived with at least one parent.
Of the 67.8 million opposite sex couples who lived together, 89 percent were married couples, while the remaining 11 percent were unmarried.
In 2011, there were about 7.6 million unmarried couples living together.
In 2011, married couples with children made up 20 percent of all households, half what they were in 1970 (40 percent).
In 2011, 23 percent of married couple family groups with children younger than age 15 had a stay-at-home mother. This proportion decreased in the last few years during the recession. In 2007 — before the recession began — the corresponding figure was 24 percent.
The Annual Social and Economic Supplement to the Current Population Survey was conducted in February, March and April of 2011 for a nationwide sample of about 100,000 addresses.
© 2011 Florida Realtors®
Monday, October 24, 2011
Should you buy a home now or wait?
Here is our answer:
Whether you should be buying a home now, or whether you should be waiting is a very important question that most potential home owners ask themselves.
Whether you should be buying a home now, or whether you should be waiting is a very important question that most potential home owners ask themselves.
Unfortunately, there is no easy answer as to whether you should buy now, or wait in case home prices start falling. However, a recent Realty Times article discussed some of the reasons that makes home buying a great investment, regardless of the future market.
The bottom line:
If you are worried that a sellers market will turn into a buyers market, then you need to look at what is happening in that market. There are two key indicators to consider. First, look at job growth - if jobs are growing, and migration into the state is growing, then demand for houses will grow. This increased demand will lead to increased house prices. Second, look at the supply of homes. If there are more homes on the market than buyers, then there is a supply surplus, which will have the effect of bringing house prices down. One easy way to determine what the market might do is to look at the offers, rebates, upgrades, etc. that builders are offering. If the extras are more generous than normal, then there is a good chance a sellers market is turning into a buyers market.
Although it is important to consider what is going to happen in the marketplace - it would not be prudent to make such a large investment without at least considering it - there are a number of good reasons why home buying can make good economical sense regardless of the housing market:
If you are worried that a sellers market will turn into a buyers market, then you need to look at what is happening in that market. There are two key indicators to consider. First, look at job growth - if jobs are growing, and migration into the state is growing, then demand for houses will grow. This increased demand will lead to increased house prices. Second, look at the supply of homes. If there are more homes on the market than buyers, then there is a supply surplus, which will have the effect of bringing house prices down. One easy way to determine what the market might do is to look at the offers, rebates, upgrades, etc. that builders are offering. If the extras are more generous than normal, then there is a good chance a sellers market is turning into a buyers market.
Although it is important to consider what is going to happen in the marketplace - it would not be prudent to make such a large investment without at least considering it - there are a number of good reasons why home buying can make good economical sense regardless of the housing market:
- Homeowners build equity in their homes that can be used as collateral for a home equity loan, or as part of a retirement plan when you finally downgrade into a smaller home.
- Built up home equity can also be used for putting money down toward your next home.
- Prolonged home ownership's brings with it equity growth in the form of debt reduction and general inflation.
- Even if the market starts declining, history tells us that this will only be short-lived, and the market will start increasing again.
- By using your income to pay of your mortgage, your income is in effect working for you. The opposite is true with renting.
- One of the biggest benefits to having a mortgage is that, in most cases, the interest portion of your mortgage payment is tax deductible, which can save you a lot of money every year.
Making the decision to invest in such a way is never going to be easy, but by looking sensibly at the market, and by really considering whether the advantages espoused above apply to your specific situation, you are able to make a more informed and reasoned decision!
Subscribe to:
Posts (Atom)