Category: Economy

Real Estate Is Driving the Economy

The housing market is playing a major role in today’s economic recovery. Many have gone through major changes in their lives this year. From unemployment, to working from home, to homeschooling. These changes all contribute to people contemplating whether they should buy or sell today. The high buyer demand coupled with the low housing inventory […]

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Experts Discuss the Strength of the Housing Market

America has had a very challenging 2020. A global pandemic, a financial crisis with millions still unemployed, and an upcoming presidential election. Despite all these issues, the real estate market shows resilience and strength. Here is what the experts are saying. Ivy Zelman, CEO of Zelman & Associates: “Whether in terms of pending contract activity […]

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Homeownership Rates Rise in 2020

2020 has been quite the year. From COVID-19 to historically high unemployment rates and finally the economic recession. Despite all these challenges, the homeownership rate rose in quarter 2 of 2020. Americans are still confident about buying a home even during the crisis. The U.S. Census Bureau said: “The homeownership rate of 67.9 percent was 3.8 percentage […]

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Guidance is Most Important When You Are A First-Time Homebuyer

First time homebuyers made up 35% of the homebuyers in the month of June. This trend is building and steadily increasing through the year. The National Association of Realtors says: “The share of first-time buyers increased in March through June—right into the heart of the pandemic period and the surge in unemployment—and is now trending […]

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Has the Economic Recovery Begun?

Wall Street Journal performed their monthly Survey of Economists and reported: “The U.S. economy will be in recovery by the third quarter of this year, economists said in a survey that also concluded the labor market will fare better than previously expected following the effects of the coronavirus pandemic.” The US Bureau of Labor Statistics […]

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Week of June 1st, 2020 in Review

The labor sector dominated the headlines as the ADP and Bureau of Labor Statistics Jobs Reports for May were released. First up on Wednesday, the ADP Report showed 2.76 million job losses in the private sector during the month of May. While this remains a devastating number, it was also significantly better than expectations, which […]

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Is a Recession Here? Yes. Housing Crash? No.

The National Bureau of Economic Research (NBER) announced on Monday that the United States economy is in a recession. A recession is defined as: “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 of […]

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Shocking Unemployment Report

The U.S. Bureau of Labor Statistics released the May Employment Situation Summary on Friday. Most predicted that the unemployment rate would increase to 20% from the 14.7% announced last month. The results were shocking. The Wall Street Journal said: “The May U.S. jobless rate fell to 13.3% and employers added 2.5 million jobs, blowing Wall Street expectations […]

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Time to Sell Your Vacation Home?

COVID-19 has hit the travel industry the hardest. Even as things are starting to reopen, it is difficult to tell how long it will take for people to start traveling and taking summer vacations. That industry may take time to recover. Airbnb has over 660,000 listings in the United States. Homeowners who rent their vacation […]

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Reasons To Be a Homeowner

Some Highlights June is Homeownership Month Now is an excellent time to become a homeowner If you are contemplating whether it is the right move for you, call us so we can help you Prestige Waterfront Realty has South Florida’s Real Estate Experts that will help you through every step of the way. Call 954-830-7000 […]

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Home Buyer Wish List

Bottom Line Realtor.com performed a survey to ask what homeowners want to change about their home. More space Updated kitchen Home gym Extra room If you are thinking about selling your home, let’s talk! Call South Florida Real Estate Experts at Prestige Waterfront Realty at 954-830-7000. Let us help you move to a more desirable […]

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A Shift to the Suburbs

Traditionally many people across the country love to purchase homes in urban cities. Populated cities give the advantage of being close to entertainment, shopping, restaurants, and grocery stores. Being able to walk to main attractions without commuting is a perk of city living. The disadvantage of living in the city is lack of space and […]

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Unemployment Report

Last week the Bureau of Labor Statistics released that the unemployment rate has jumped to 14.7%. This number is predicted to be higher next month. This rate indicates how many families are undergoing financial hardships as a result of COVID-19. Although the unemployment rate is terrifyingly high, it is important not to exaggerate. Many are […]

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The Day Americans Return to Work is Coming

Some Highlights Let’s reflect on what historical leaders have taught us about difficult times The day that all Americans can return to work is coming. Stay positive. We are resilient and will bounce back from this. Thinking of buying or selling a home in Florida? Contact Prestige Waterfront Realty at 954-830-7000.

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Here’s Why Many Are Confused About The Economic Recovery

The current health crisis has caused everyone to question when the economy will recover. While COVID-19 has reached a plateau, many are concerned about when businesses will start opening up. There are three types of sciences used to forecast the economic recovery. Business Science – Looks at how the economy rebounded in the past. Health Science – Looks at […]

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Highest US Homeownership Rate in 8 Years

The past 2 months have been a somewhat a whirlwind for all of us. With government stay-at-home orders, our lives have been set to pause. We have transitioned to working from home and becoming an educator/daycare for our kids. It is a whole new reality for us. On the other hand, we have found a […]

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