We Are Seeing A Remarkable 2020 Housing Recovery

Bill LewisEconomy, Property Ownership

2020 Housing Recovery

For months now the vast majority of Americans have been asking the same question: When will the economy turn around? Many experts have been saying the housing market will lead the way to a recovery, and today we’re seeing signs of that coming to light. With record-low mortgage rates driving high demand from potential buyers, homes are being purchased at an accelerating pace, and it’s … Read More

Is a Recession Here? Yes. Does that Mean a Housing Crash? No.

Bill LewisEconomy, Property Ownership

Recession Yes - Housing Crash No

On Monday, the National Bureau of Economic Research (NBER) announced that the U.S. economy is officially in a recession. This did not come as a surprise to many, as the Bureau defines a recession this way: “A recession is a significant decline in economic activity spread across the economy, normally visible in production, employment, and other indicators. A recession begins when the economy reaches a peak … Read More

What Impact Might COVID-19 Have on Home Values?

Bill LewisEconomy, Property Ownership

Impact of COVID-19 on home values

A big challenge facing the housing industry is determining what impact the current pandemic may have on home values. Some buyers are hoping for major price reductions because the health crisis is straining the economy. The price of any item, however, is determined by supply and demand, which is how many items are available in relation to how many consumers want to buy that … Read More

Unemployment Report: No Need to Be Terrified

Bill LewisEconomy

unemployment report - don't panic

Last Friday, the Bureau of Labor Statistics (BLS) released its latest jobs report. It revealed that the economic shutdown made necessary by COVID-19 caused the unemployment rate to jump to 14.7%. Many anticipate that next month the percentage could be even higher. These numbers represent the extreme hardship so many families are experiencing right now. That pain should not be understated. However, the … Read More

Why Home Equity Is a Bright Spark in the Housing Market

Bill LewisEconomy, Property Ownership

Home Equity Is a Bright Spark in the Housing Market

Given how we have seen more unemployment claims than ever before over the past several weeks, fear is spreading widely. Some good news, however, shows that more than 4 million initial unemployment filers have likely already found a new job, especially as industries such as health care, food and grocery stores, retail, delivery, and more increase their employment opportunities. Breaking down … Read More