Thu, 18 March 2021 | real estate
ATTOM Data Solutions released its year-end 2020 U.S. Home Flipping Report, which shows that 241,630 single family homes and condos in the United States were flipped in 2020, down 13.1 percent from 2019 to the lowest point since 2016.
The number of homes flipped in 2020 represented 5.9 percent of all home sales in the nation during the year, down from 6.3 percent in 2019 to the same percentage seen in 2018. The declines in the number of homes flipped in 2020, as well as the portion of home sellers represented by investors, marked the first time si... Read More
Thu, 18 March 2021 | women pandemic
The COVID-19 pandemic has negatively impacted women’s personal finances. A new survey by Edelman Financial Engines*, one of the nation’s largest independent financial planning and investment management firms, revealed that 71% of women say the pandemic impacted their finances and one in three expect it could take a year or more to recover. Women of color expect they won’t recover for 6 years on average.
Three in five (61%) women experienced significant adverse financial events during the pandemic, including taking money from savings or investments (26%), losing a job or ge... Read More
Thu, 18 March 2021 | retirement
According to the new U.S. Retirement Survey released today by Schroders, saving for the future is among the top three activities Americans have devoted more attention to since the outbreak of the COVID-19 crisis that began over a year ago.
The activities Americans have focused more on during the crisis include:
Tue, 16 March 2021 | housing
Zillow research found that with a 3.5% down payment on a 30-year mortgage with a 3% interest rate, about 9.3 million renter households in the U.S. (27.4%) would spend less than a third of their income on the monthly payment for the median home sold in their metro in 2020. An advanceable tax credit would remove for them what two thirds of renters cite as the single biggest barrier to homeownership -- saving for a down payment. Other hurdles include qualifying for a mortgage and job security.
A tax credit could be even more beneficial to renters in relatively more affordable metros... Read More
Tue, 16 March 2021 | retirement
T. Rowe Price, a global investment management firm and a leader in retirement, has published a white paper analyzing retiree spending habits, and found that retiree spending declines annually by 2%. This finding is significant because conventional retirement income planning assumes that retirees want to maintain a certain standard of living or a certain level of spending. However, the data suggests that retirees tend to adjust their spending to match their income so that they can avoid drawing down their assets. In particular, the analysis reveals that retirees choose to adjust their nondis... Read More
Fri, 12 March 2021 | demographics retirement
With Women’s History Month underway, StreetWise, the E*TRADE quarterly tracking study of experienced investors, looked at retirement savings trends among female investors. The survey found female investors are less likely to tap into retirement funds. Fewer than one out of three (30%) women said they have withdrawn from their retirement accounts early, down 10 percentage points from Q1 2020. And 30% of the total population has tapped into retirement funds early, down just 3 percentage points from last year.
The study also found that more women are contributing to their... Read More
News and insights about consumer and demographic financial trends
The Hidden Cost of Idle Cash: What the Vanguard Survey Reveals About America’s Savings Habits
Consumers Growing Cautious Amid Rising Inflation and Economic Uncertainty
US Taxpayers Say Tax Refunds are a Financial Necessity
Consumer Pessimism Grows Despite Stable Long-Term Inflation Expectations
Economic Uncertainty and Inflation Impact Retirement Prospects for Americans
AARP Survey Reveals Alarming Retirement Savings Trends
Hispanic Consumers More Optimistic About Finances
Homeowners Facing Increasing Insurance Rates
U.S. Foreclosures Increase In First Quarter
Consumers Perceive Less Buying Power Despite Lower Inflation