AUTHOR: TOWNE SCHERER.COM 8/3/2016: Towne Scherer Private Wealth Management BLOG:
Home Ownership at Lowest Level in 51 Years
Home ownership in the United States is at its lowest level in 51 years according to a 7/28/2016 AP report. The trend is greatest among millennial households, ages 18 to 34. According to the article, America added nearly one million households over the past 12 months, with all of them being renters. Further, home prices have steadily outpaced gains in average earnings. Although, mortgage rates are near historic lows, few properties are being listed for sale, giving potential buyers a limited selection and more pressure on property prices.
Debt Update
According to US Debt Clock.ORG,The U.S. National Debt is $19, 407, 681,325,762 as of the writing of this blog. Nevertheless, there are other current indices which we could look at on this site which are pretty eye-opening. For example:
Total Debt Per Family in the U.S. is $807,358 while Savings Per Family is $9,973.
Us Federal Tax Revenue in the U.S is $3.3 Trillion while U.S. Federal Spending is $3.8 Trillion.
And last, but not least.
Total National Debt is $65 Trillion while U.S. Gross Domestic Product is $18 Trillion.
Trump’s 87% Chance of Beating Hillary
With the Conventions winding down and the final run at the Presidency beginning, Helmut Norpoth, director of undergraduate studies and political science professor at Stony Brook University, has a model showing Trump with a 87% chance of beating Hillary as reported by Newsday 7/28/2016. The article goes on to say that ‘when voters demand change, they are willing to overlook many foibles of the change candidate,’ which Trump has become. On the other hand, the ‘candidate, who touts experience will get more intense scrutiny for any missteps and suspicions of misconduct,’ which Hillary is perceived as being. Wow!!! How the worms turns.
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The opinions expressed in this material do not necessarily reflect the views of LPL Financial and based on the political content of this material are for general information only and are not intended to provide specific advice or recommendations for any individual.