Did You Know?

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* Though just 17% of the U.S. population is 65 or older, United Van Lines reports that seniors in that age group completed 29% of all its moves in 2020. Sumter County, Florida has one of the highest levels of inbound migration of seniors in the U.S. thanks in large part to the Villages, a sprawling retirement community more than 50 miles northwest of Orlando. But large cities are seeing an influx of older people seeking the excitement and variety/volume of entertainment/restaurant options. (WSJ)

* In the 4th quarter of 2021, investors bought 18.4% of the US homes that were purchased, a record high. And possibly one of the biggest drivers of housing inflation? Higher purchase prices + higher rents = essential demand for higher wages. (FT)

* The median monthly payment on a new mortgage is now taking up a much larger share of a typical consumer’s income. It jumped 8.3% in February compared with January. The average rate on the 30-year fixed mortgage shot significantly higher yesterday, rising 24 basis points to 4.95%. The quicker-than-expected rise in rates has weighed on demand for mortgages and refinancing loans. With both rates and prices considerably higher, the median mortgage payment is now more than 20% higher than it was a year ago. And so is pricing in some parts….Now comes the question: are incomes that much higher to sustain this? (CNBC)

* The average bonus paid to securities industry employees in New York climbed 20% to a record $257,500 for 2021, the largest increase in bonuses since 2009. Securities industry jobs make up just 5% of private sector roles, but accounted for 18%, or $14.9 billion, of state tax collections in the 2021 fiscal year. (CNBC)

And read these recent articles:
Time to Consider an Adjustable Rate Mortgage (ARM)
The Federal Reserve and Mortgage Rates
Naples Beach prices drop 47%? Not so fast
Naples YTD February: sales plummet, prices soar
The Great Resignation’s Effect on Florida Real Estate

Federal Reserve: “Make me responsible…. but not yet”
 Guide to Buying and Selling in Southwest Florida
 Naples Year End Market Report by Location and Property Type
 Fort Myers Beach 2021 Market Report
 Bonita Springs 2021 Market Report
 Sanibel/ Captiva 2021 Market Report

Andrew Oliver, M.B.E., M.B.A.
Real Estate Advisor

m: 617.834.8205
Andrew.Oliver@Compass.com

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www.OliverreportsFL.com

Compass
800 Laurel Oak Drive, Suite 400, Naples, FL 34108
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