The trends varied widely by age group. Among seniors, the homeownership rate rose to 79.3 percent, up from 78.6 percent the previous quarter. The biggest jump came among 35- to 44-year-olds. Their homeownership rate rose to 59.3 percent, up from 58.1 percent in the third quarter.
But only 34.7 percent of Americans under 35 owned homes, down from 35.8 percent in the third quarter.
Florida cities dominate Forbes’ Best Buy Cities: Where to Invest in Housing in 2016. Seven of the state’s metro areas make the ranking’s top 19, including Orlando (No. 2), Fort Lauderdale (No. 8), Cape Coral (No. 10), Sarasota (No. 12), Tampa (No. 14), Jacksonville (No. 18) and West Palm Beach (No. 19).
Florida still has a problem with underwater borrowers. The state trails only Nevada and Illinois in the share of upside down borrowers. But Florida’s equity-rich borrowers now outnumber the seriously underwater contingent.
How fast is consumer lender CircleBack Lending growing? Apparently pretty fast — the three-year-old company just leased 42,000 square feet in Boca Raton for a headquarters.
The company makes loans for cars, weddings, debt consolidations and other purposes. Annual interest rates range from 6.6 percent to 35 percent.
CircleBack Lending signed a seven-year lease at 777 Yamato Road, said Stiles Realty Vice President Matthew Schwartz, who brokered the deal. The company had been leasing 15,000 square feet at the same address.
Homes close to Trader Joe’s or Whole Foods locations gain value more rapidly than houses farther from the trendy retailers, an analysis by Zillow finds.
At the end of 2014, homes within a mile of either store were worth more than twice as much as the median home in the rest of the country, according to a new analysis in the paperback edition of Zillow Talk: Rewriting the Rules of Real Estatepublished Tuesday.
“Like Starbucks, the stores have become an amenity in their own right – a signal to the home-buying public that the neighborhood they’re located in is desirable, perhaps up-and-coming, and definitely improving,” says Zillow Group Chief Economist Stan Humphries. “Like a self-fulfilling prophecy, the stores may actually drive home prices. Even if they open in neighborhoods where home prices have lagged those in the wider city, they start to outperform the city overall once the stores arrive.”
No amount of data analysis can answer this question: Are Whole Foods and Trader Joe’s the cause of rapid appreciation, or are they simply locating in affluent neighborhoods that would see price increases anyway? Zillow punts, saying stores and home prices are “definitely related.”
“The grocery store phenomenon is about more than groceries,” Rascoff says. “It says something about the way people want to live – in the type of neighborhood favored by the generations buying homes now.”
Palm Beach County gained 14,100 jobs over the year, led by professional and business services, which added 6,900 jobs. Trade/transportation/utilities and education/health services added 3,100 jobs each. The low-paying leisure and hospitality sector added 1,600 positions.
Construction, once crucial to Palm Beach County’s job growh, remains a laggard. It added only 300 jobs over the past year.
Among Florida counties, unemployment ranged from a low of 3.2 percent in Monroe County to a high of 7.3 percent in Hendry County.
The top of the list is dominated by executives from New Jersey-based Realogy Corp., owner of the Century 21, Coldwell Banker, Corcoran, ERA and Better Homes and Gardens brands. Realogy execs occupy four of the top 10 spots (and eight of the top 28).
The only other Floridian in the top 100 is Sarasota broker Michael Saunders, who ranks 99th. Also on the list are Berkshire Hathaway HomeServices Florida Realty President Rei Mesa (No. 107), Miami Association of Realtors Chief Executive Teresa King Kinney (No. 127) and Keyes Co. Realtors head Mike Pappas (No. 147).
The annual power ranking is created by Swanepoel T3 Group of San Juan Capistrano, California.