Friday, October 23, 2020 / by Scott Shine
COLLEGE STATION (Real Estate Center) – Texas’ housing market rebounded in September as homebuyers rushed to take advantage of historically low mortgage rates. Existing homes sold through Texas Multiple Listing Services increased 10.7 percent from August and are running 2.6 percent higher relative to the first three quarters of 2019.
"Many prospective homebuyers who were planning to purchase next year have been pulled into the market early as their affordability has suddenly improved," said Dr. James Gaines, chief economist for the Real Estate Center at Texas A&M University. "This pull factor contrasts the pent-up demand that drove the summer sales surge."
According to the National Association of Realtors, existing-home sales increased 9.4 percent across the country compared to August 2019. First-time buyers accounted for 31 percent of September sales, down from 33 percent in both August 2020 and September 2019.
Home-purchase mortgage applications have incr ...
Wednesday, October 7, 2020 / by Scott Shine
FORT HOOD — Fort Hood experienced an increase in economic activity in 2019, according to one study announced by Gov. Greg Abbott on Monday.
The results of a study completed by the Texas Comptroller of Public Accounts through the Texas Military Preparedness Commission show that the military contributed an estimated $123.6 billion to the Texas economy and supported more than 630,000 jobs in communities across the state.
The study is conducted every two years and represents an analysis of the economic impact of the population and employees directly affiliated with the military installations in Texas. This includes active duty, visiting and other military personnel, dependents, civilian employees and contractors directly affiliated with the base.
Of the latest study’s total, Fort Hood directly or indirectly contributed an estimated $29.8 billion to the state economy last year, an increase of 22% since the comptroller’s last report in 2018 which reflected 2017 ...
Wednesday, October 7, 2020 / by Scott Shine
Yesterday, Chairman of the VLB and Texas Land Commissioner George P. Bush announced that Next Gen Warrior, a show formed to promote the personal and professional growth of Veterans, is partnering with the U.S. Chamber of Commerce Foundation’s Hiring Our Heroes (HOH) initiative to produce a three-part podcast series addressing critical issues in the military and Veterans community.
The conversations will cover military spouse entrepreneurship, wellness in the workplace, and service after service.
Through this partnership, Veterans will continue to be reminded of their impact on the community and their country beyond the battlefield, and those in the Armed Forces will learn about the valuable resources and benefits available to them to assist in their transition to civilian life.
“The impact our Veterans have on our communities lasts well after their service,” said Commissioner George P. Bush. “Military Members continue to serve as strong leaders thro ...
Friday, July 24, 2020 / by Scott Shine
AUSTIN (Texas Realtors) – The mandatory shelter-in-place orders related to COVID-19 caused Texas home sales to decline in 2Q2020, while median price increased, according to Texas Realtors' Texas Quarterly Housing Report.
Home sales declined 9.9 percent to 91,970 homes sold. Statewide, the median price increased 2.9 percent to $252,000.
Of all the homes sold last quarter, 34.6 percent were priced from $200,000 to $299,999, the highest share of sales among all price-class distributions.
"With COVID-19 and the mandatory shut down, the Texas housing market performed as expected in Q2," said Real Estate Center Chief Economist Dr. Jim Gaines. "We have a tighter market compared with last year, causing prices to remain high. However, in June we saw demand pick up with buyers becoming more active and taking advantage of the low interest rates."
Active listings declined 22 percent to 88,337 listings. Texas homes spent an average of 57 days on the market during the same time fr ...
Wednesday, July 22, 2020 / by Scott Shine
By Brian Davis
When I was 22 and working in a miserable cubicle, it occurred to me that if I had enough rental income, I could retire by 30. Life didn't work out that way, but not because the premise wasn't sound. Unfortunately, it didn't work out because I invested all my money without knowing what I was doing.
Whether you want to retire at 30 or 80, rental income can help you get there faster. Here's how:
In the traditional 20th Century model, you save for retirement over the course of a 40-45 year career. Then you stop working, and gradually spend down your nest egg in retirement, hoping all the while that you don't run out of money before kicking the bucket.
That model comes with all manner of complications. You have to choose a withdrawal rate: what percentage of your nest egg to spend each year on living expenses. You have to worry about sequence risk: the risk of a market crash early in your retirement. All this because you're spe ...