AUTHOR: TOWNE SCHERER.COM 9/19/2016: Towne Scherer Private Wealth Management BLOG:
Will Your Wealth Transfer Go Well?
$3.9 trillion will be transferred by the super-rich to the next generation by 2026, according to MarketWatch 9/14/2016. Understandably, the biggest concern for the world’s superrich is ‘succession and inheritance’ issues. Unfortunately, America is no longer #1 for the super-rich, with the Asian-Pacific overtaking the U.S. in the top spot.
Can You Afford Your House?
More than 52% of all Americans have had to make at least one significant sacrifice to cover their rent or mortgage in the last three years, reports MarketWatch 1/31/2016. According to the report, home prices have increased 20% over the past two years while wages have barely gone up. Further, although mortgage rates are low, down payments, poor credit and tighter lending standards remain the three biggest hurdles for buying a home, especially among young people.
Will the Real Estate Market Crash?
We are in a real estate bubble, says a CNBC 8/29/2016 report. Fortunately, the report points out that the price of real estate today is not being driven by faulty mortgage products that people can’t afford but by a lack of supply and low mortgage rates. The concern, you ask? If rates start to move up, affordability will weaken, potentially moving home prices lower. With increases in interest rates suggested almost daily, an increase seems imminent. So keeping your eye on the moving rate appears to be the message.
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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.