DrTCJ’s Tweets August 26, 2016 Through September 8, 2016

For those of you that do not Tweet – you should consider doing so. If you want to talk about effective bang for the buck, the 140 total characters, letters, numbers and spaces of a Tweet on Twitter certainly qualifies. Who knew you could say so much in so little?

More important perhaps, is that Millennials — Social Media Core Users — are not only the largest population cohort ever seen in the U.S., but also, as of 2016, the largest home buying segment according to the National Association of Realtors®. Join in or check out, so-to-speak, with the massive economic group. One Florida Realtor® that occasionally retweets my info has 800,000+ followers – that is a highly effective use of their time!

Tweeting reminds me of Mark Twain, who wrote, “I would have written you a shorter letter but I didn’t have the time.” You need to pack a lot in a little space.

Twitter followers on DrTCJ now total 2,498 – please tell friends and colleagues. This is the every-other-week or so of Jones on Real Estate blog posting covering the latest Tweets.

While you may recognize some of the data from my blog, there are always items that just get Tweeted. I am always looking for “I did not know that” information.

DrTCJ’s Tweets August 27, 2016 Through September 8, 2016

• New single family home sales in July 2016 hit a seasonally adjusted annualized rate of 654,000, up 31.3% YOY, the most since October 2007
• Average $181 cost to service a performing loan & $2,386 per non-performing loan with average gross revenue $538 per loan – Urban Institute
• Average apartment rent in Houston in July 2016 was down 2.2% YOY to $1,082 due to new deliveries – Axiometrics via Houston Chronicle
• Houston leads the US in scheduled new hotels for 2017 with 87 projects totaling 9,770 rooms – Lodging Econometrics via Houston Chronicle
• Best Cities for 1st Time Homeowners

1. Oklahoma City
2. Tulsa
3. Indianapolis
4. Pittsburgh
5. Houston
6. Omaha
7. Wichita

SmartAsset

• Expect a decline in US existing home sales in July 2016 YOY, as July home sales were down 5.1% in California and off 7.6% in Texas
• Top State Job Growth – 12 Months Ending July 31, 2016

• Top Labor Day Destinations 2016 http://www.prweb.com/releases/2016/08/prweb13616557.htm …

• Despite the oil price plunge, the Houston MSA job numbers peaked in Jan 2016 and are down just 5,700 since then to 2.9966 million – BLS
• Fastest Growing Housing Markets – Price Change

1. Boulder CO
2. Elmira NY
3. Springfield IL
4. Port St Lucie FL
5. Cumberland MD-WV

24/7 Wall St

• 4.5% of all single family housing starts in Q2 2016 were for rentals, up from a normal 2.8% prior to the housing bubble implosion – NAHB
• The July 2016 unemployment rate increased in 7 states, declined in 3 states and was relatively stable in 40 – Bureau of Labor Statistics
• Cash-strapped consumers (periodic checking & debit card overdrafts) pay an average $522 each year in banking fees – WalletHub
• Closing rate in July 2016 on all residential loans increased to 71.6% vs 69.6% in June, with purchase lending at 75.7% – Ellie Mae
• Residential foreclosure starts hit an 11 year low (since May 2005) in July 2016 down 19% from a year ago – ATTOM Data Solutions (RealtyTrac)
• 529,665 hotel rooms in 4,323 projects are under construction, in planning or final planning stages, up 22% vs July 2015 STR via MBA
• Continued low interest rates are pushing refis which are driving home improvement sales, up 4.4% in the 1st half of 2016 – HousingWire
• Q2 2016, 22% of all residential properties with loans were deemed Equity Rich, with a loan-to-value ratio less than 50% – ATTOM Data
• Renting a luxury apartment unit in the US costs an additional $5,200 per year (39% more) – Rentcafé
• Luxury apartment rents rose 4.7% in year ending June 2016 while middle market apartments increased 5.8% – Rentcafé
• 800+ golf courses closed in the US in the past 10 years with golf play down 20% – impacting home values along the courses – NREI via NAR
• The Three Bears Paradox — Jobs Vs Building Permits for More Than 300 MSAs Annual Ratios from 2012 to 2016 Q2
• Hispanic Millennials have less income vs all Millennials, $31,100 vs $33,800, also have less college debt $10,267 vs $19,978 – Wells Fargo
• California existing home sales dropped 5.1% in July 2016 vs a year ago, median price at $509,830 up 3.9% – CAR
• Household debt rose by $35 billion in Q2 2016, but mortgage debt included in total household debt declined $7 billion – New York Fed
• Residential originations forecast to rise from $1.75 trillion in 2015 to $2 T in 2016 (+14.3%) down to $1.65 T in 2017 (-17.5%) Freddie Mac
• Existing home sales are forecast to rise from 5.75 million in 2015 to 6.04 M in 2016 (+5.0%) and 6.16 M in 2017 (+2.0%) Freddie Mac
• 2016 residential mortgage originations now forecast to reach $2 trillion, most since 2012, split 50-50 purchase-refi Freddie Mac
• Greatest Number of New Apartments 1 Houston TX 2 Dallas TX 3 New York NY 4 Los Angeles CA 5 Washington DC http://Realtor.com
• Homes in highly ranked school districts median price average 49% greater than the US median & 77% more than low ranked schools -Realtor.com
• Since 2012, the supply of CBD apartments increased 16.6%, 13.5% in secondary core areas & just 5.5% in mid-priced suburban markets – CoStar
• Since 2012, average downtown apartment rents (mostly high-end) rose 12.3% and up 18% for mid-level suburban units – CoStar via USA Today
• The Dow Jones Industrial Average, Nasdaq & S&P 500 all closed at all-time record highs today as West Texas oil prices rose 2.8% to $45.74
• Easiest States to Find Full-Time Employment 1. South Dakota 2. North Dakota  3. Nebraska  4. Iowa  5. New Hampshire  – 24/7 Wall St via USA Today
• Lowest Median Home Price MSAs Q2 2016 TTM

1. Youngstown OH
2. Cumberland MD
3. Decatur IL
4. Binghamton NY
5. Rockford IL                         NAR

• Hardest States to Find Full Time Employment

1. Nevada
2. New Mexico
3. Alaska
4. California
5. West Virginia                     24/7 Wall St via USA Today

• In 2014 a record 19% of the US population lived in a multigenerational household vs 17% in 2009 and 12% in 1980 – Pew Research Center
• The FHA loan delinquency rate, now at 8.46%, is the lowest since 2000, with FHA foreclosure inventory at the lowest level since 2001 – MBA
• Serious delinquent loans (90 or more days past due or in the process of foreclosure) are now 3.11%, down from 3.95% a year ago – MBA
• Residential foreclosure starts fell to 0.32% in Q2 2016, down from 0.40%, now at the lowest rate since Q2 2000 – MBA
• The residential mortgage delinquency rate on 1-4 unit residential properties fell to 4.65% in Q2 2016, the lowest in the past 10 years – MBA
• San Jose California is the 1st MSA in the country where the median price is greater than $1 million, now at $1.085 million in Q2 2016 – NAR
• China’s housing sales were up 41.2% in the 1st 7 months of this year vs the same period in 2015, with construction starts up 13.7%

Get your own Twitter account and Tweet away — and of course retweeting the ones of mine you find interesting.

Want to see all of my tweets or follow? Click https://twitter.com/drtcj

If this 62-year old can Tweet, so can you.

Ted