Between now and 2031, 10,000 Baby Boomers will turn 65 each day. It’s a demographic shift that will define the near future of the United States.
The map above, created by Ad Age, sing U.S. Census data, gives us some clues. It shows where people 65 and over moved to between 2000-2010. Red counties show places that had a net loss in their senior population, while dark blue counties had a population change of 30 percent or more.
The FHFA has announced changes to short sale policies that will make it easier for military homeowners with Fannie Mae and Freddie Mac loans to honor their financial commitments when they are required to move as part of their duty.
Military homeowners who receive Permanent Change of Station (PCS) orders will be eligible to sell their homes in a short sale even if they are current on their mortgage. PCS orders often require quick moves and can create hardship for military homeowners who are underwater on their mortgages, and therefore, cannot sell their home without taking a loss. Previously, many service members felt their only option was either to maintain financial obligations on two residences or to default on their mortgage.
California Median Home Price: $312,110
California highest median home price by region/county: Marin, $791,670
California lowest median home price by region/county: Merced, $119,410
California Pending Home Sales Index: 128.8, unchanged from April.
California Traditional Housing Affordability Index: First quarter 2012: 56 percent
According to a recent report by Lending Tree, the average down payment on a home is 12.29%. However, buyers in some states are putting down even more money for their home purchases. In New Jersey, buyers made average down payments of 13.71%. Meanwhile, buyers in North Dakota put down an average 11.34%, the lowest in the country.