How Millennials Are Moving the Housing Market

Demand Propels Home Prices Upward 2 days ago  Print This Post Share Save The Best Markets For Residential Property Investors 2 days ago February 20, 2019 2,907 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / How Millennials Are Moving the Housing Market Tagged with: Affordability Baby Boomers Down Payment Gen-X Home Home Prices Homebuyers HOUSING Millennials mortgage Realtor.com How Millennials Are Moving the Housing Market The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Capital Living: America’s Best Cities to Reside in Next: Examining Third-Party Purchasers’ Role in Foreclosure Proceedings in Daily Dose, Featured, Market Studies, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Affordability Baby Boomers Down Payment Gen-X Home Home Prices Homebuyers HOUSING Millennials mortgage Realtor.com 2019-02-20 Radhika Ojha Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Related Articles Affordability, low down payments, and less traditional secondary markets with an abundance of jobs and homes are just some of the things that millennials look at while purchasing a home, according to an analysis by Realtor.com. The analysis also found that millennials are taking on larger mortgages when compared with the older generations.Millennials have also started looking beyond starter homes. Despite a lower median purchase price of $238,000 for a starter home compared to Gen-Xers and baby boomers, the analysis indicated that millennials were increasing their purchase price at a faster rate than previous generations, indicating more buying power.They’re also becoming the largest mortgage purchasers by the number of loans originated, “surpassing Generation X as their leader in January 2017. As 2018 came to a close, millennials took on nearly half of all new mortgages compared with 36 percent for Gen X and 17 percent for baby boomers.”Despite these growing numbers, the study indicated that millennial homebuying was driven by affordability as this demographic tended to make lower down payments compared to other generations. The analysis indicated that down payments by millennials averaged 8.8 percent in December 2018, compared to 11.9 percent for Generation X and 17.7 percent for “the more equity-rich” baby boomers.”Millennials are getting older, with better jobs and deeper pockets, allowing them to expand their collective purchase power, and hence, their footprint in the market,” said Javier Vivas, Director of Economic Research at realtor.com. “The stereotype that millennials primarily choose to buy homes and live in large metro areas isn’t the reality. Results show millennials’ expansion is more heavily conditioned by affordability than in prior years, so their eyes are set on less traditional secondary markets where homes and jobs are now available and plentiful.”While Buffalo, Pittsburgh, Milwaukee, Cincinnati, and Columbus ranked among the top housing markets preferred by millennials, Gen X-ers purchased homes in strong job markets and secondary home markets. Los Angeles, Providence, Bridgeport, Jacksonville, and Atlanta ranked among the top five markets for Gen-Xers.For baby boomers, the top five markets were Knoxville, Sacramento, Memphis, Oklahoma City, and Riverside. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. About Author: Radhika Ojha Subscribe read more

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Professor analyzes history of Christmas star

first_imgAlthough most people associate Christmas with a manger, shepherds and over-booked inns, astrophysicist Grant J. Matthews from Notre Dame’s department of physics enjoys examining the Nativity story from a cosmic perspective. Matthews gave a lecture titled “What and When Was the Christmas Star?” this past weekend.  “There’s actually a wealth of astronomy about the circumstances of how we celebrate Christmas,” Matthews said. The lecture utilized Jordan Hall’s state of the art Digital Visualization Theater to explore potential explanations of the Christmas star, which is described in the Gospel of Matthew. “Within our 10 computers here, we have programmed in memory every star, every object in the sky known to humankind. We can calculate their trajectory and where they’ve been, so we can go forward and back in time,” Matthews said. “Using this, we can go back to the time when that Christmas star first appeared and see how the sky might have appeared to the Magi and might have signaled that there was a newborn ruler in Judea.” Matthews said the Magi were early astrologers who searched for meaning in the carefully followed movements of celestial objects. “[The Magi] believed that each sign of the zodiac referred to a different time of the year and a different geographic location of the world,” he said. The night sky the Magi studied 2,000 years ago is distinctly different from the one we know today, Matthews said. “The location of the vernal equinox changes with time,” he said. “The vernal equinox was just departing the constellation of Aries, which actually fixed a lot of the lore of the time.” Aries, the first sign of the zodiac, is symbolized by a lamb and was considered by the Magi to signify Judea. “Something that would have been seen as important at the time would be represented by something occurring in the constellation Aries,” he said. Though scientists are unsure about what exactly this phenomenon was, Matthews said the four most likely theories suggest it was a comet, nova, supernova, or conjunction of planets. Using records of the Chinese Court, researchers discovered a few comets and supernovae that occurred near the time of Jesus’s birth, Mathews said.  However, Matthews does not think that the Magi would interpret these occurrences as joyous indications of a great leader being born.   “[Comets, novae, and supernovae] were seen as harbingers of a great disaster.  For example, each comet is associated with some catastrophic event: the death of Cleopatra, the death of Caesar, these were not harbingers of joy, they were warnings of disaster” Matthews said. Rather, Matthews said he believes the most likely explanation for what the Magi saw in the sky lies within our own solar system. “[The Magi] would be very concerned with the location of the planets. What they would look for would be where planets line up. Around 6 BC, the sun, Jupiter, and the moon are all in Aries and Venus and Saturn are right next door,” he said. This grouping of planets would have been interpreted eagerly by the Magi. Matthews said different objects in the solar system were thought to represent different symbolic meanings. “Jupiter is the symbol of a powerful leader. The moon means that the leader had a special appointed destiny in their death. Saturn indicated a giving of life. A powerful leader, a newborn king, born in the land of Judea in our time frame of interest.” Matthews said he believes this grouping closely matches the one reported in the original nativity story, sayingd the “Christmas star” most likely refers to this unusual grouping of celestial bodies.   Contact Grace McCormack at [email protected]last_img read more

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Erickson: This may be the end, but it’s not goodbye

first_imgWell, it’s certainly been a brief four years my friends.I’ve covered countless beats during that time. I toiled through rebuilding seasons with the soccer teams, a season with each tennis team respectively as they tried to find the right mix, two wonderful years with the women’s hockey team that ended in a national title and, of course, two years with the football team that were each capped with return trips to the Rose Bowl.But no beat was closer to my heart than men’s hockey.Yes, I’ll admit it: I love hockey with unquantified passion.After a season of struggle, the hockey team almost had me convinced I was going to cover another down year for my final lap on the beat after a 1-7-2 start. As fans and critics tried to persuade me with their outsider beliefs that head coach Mike Eaves should be fired or that this team with all their talent was such a waste, I held onto my convictions that they were capable of something great.Enter the WCHA tournament.Sitting in the press box at the Xcel Energy Center, I was a ball of nerves for three days straight. On the verge of breaking out in tears at a Badgers’ loss, I was stunned again and again as Wisconsin continued to win game after game until that beautiful moment they hoisted the 2013 Broadmoor Trophy – the last one in the WCHA as it’s currently known.Their run earned them a spot in the NCAA tournament. With a fourth seed, Wisconsin traveled to Manchester, N.H. and got smacked by UMass-Lowell 6-1.I didn’t travel to Manchester. As far as I knew, my final days covering the team were some of the greatest I had ever experienced. A week later it was all finished, but I never had to say goodbye. I never shed a tear. The ending was perfect.And maybe that’s the way I need to leave not only The Badger Herald but also Madison — to let it go in this open-ended way.As far as I’m concerned these last four years – with all their ups and downs – are exactly like my final days covering hockey. They were wonderful, nerve-wracking and eventually made me feel like I was on top of the world.There was move-in freshman year, sporting a confident exterior that hid the well of insecurities, waiting to be unpacked in turn. The nerves set in but eventually went away.More than a year later, I was already covering a major sporting event: the Women’s hockey team’s 2011 NCAA Title. I was living a dream. I was covering the sport I love, doing exactly what I love. It felt like nothing could slow me down – not even a nasty bout of strep throat or the awful city that is Erie, Penn. (Apologies to any natives, but that town is not my cup of tea).And I didn’t slow down. During my junior year, I stepped into the football and men’s hockey beats. But I also faced my own personal crises; those few moments that creeped into my life every now and then, making me question whether I really wanted to write, whether I could really make a career of it. In the face of self-created, minor adversity, I knew I didn’t want to do anything else.Finally, my senior year, that playoff push and insane tournament run which just served as a quick metaphor for my college career.I’ve been dreading my ultimate goodbye to this wonderful city and all the brilliant people in it.So instead of worrying about it or attempting to write some perfectly worded farewell, I’m just not going to say anything.Sure, come Sunday, May 19 there will be tears and hugs all around as I part ways with some of my greatest friends and move onto the daunting, scary, real world. But there will be no goodbyes on my part.Until next time.Kelly is graduating in a week and, well, is thoroughly freaked out by it. She is moving back home to the great state of Minnesota to cover some baseball for the summer before worrying about finding a full-time job. Feel free to keep in touch via Twitter @kellymerickson.last_img read more

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