Oil has been trading in the 30’s for quite some time and even dipped into the 20’s last week.  This will most certainly lead to a slow down in the upper end of the real estate market.  That makes this a good time to think about purchasing your FIRST home. Homes with lower asking prices are still moving according to The RED Team!

We’ve all been reading and hearing about Millennials and starting this year they make up the largest percentage of the US workforce.

laborThere has been some talk about this group’s reluctance to purchase homes.   According to Fannie Mae that doesn’t appear to be the case:

chart

The top line represents the % of 25-39 year olds who want to buy and the bottom line represents the % who will likely always rent.  As you can see, Home Ownership is still firmly implanted as a goal among Millennials!!

 

 Markets

 

Interest Rates

 

Equities

 

 

 

Commodities

 
Last Week 4.00 Dow Industrials 16,002 Oil (WTI) 30.71
Today 3.99 Devon 23.98 Natural Gas 2.09
FHA Today 3.75 Chesapeake     3.18 Gold 1,107

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