20 Years of home price changes in every city in the U.S.

Two Decades of Housing Prices

The interactive visual below ? created by Alison Young Global, using data from?Zillow?? is a comprehensive look at U.S. home price data over the past two decades.

At the turn of the century, the average U.S. home value was?$126,000. Today, that figure is at a record high?$259,000?? a 106% increase in just two decades.

Of course, the path from A to B was anything but linear with a financial crisis,?housing bubbles?in major cities, and now COVID-19, which is drastically altering market dynamics.

How has the housing market evolved, on a city-by-city basis?


Progress on Bayard Park

www.truvest.co/construction

 

Progress over the last week at Bayard Park has really changed these houses!

The floor plans we designed are coming into view, and we are getting excited about showing off these homes in the near future!

The TruHome Repair & Construction team is turning houses into TruHomes!

#realestate #Evansville #Indiana #evansvillepromise #Eisforeveryone #BayardPark #impactinvesting #Construction #housing #TruHome #TruVest


TruHome Trucks Hitting the Road

We could not be happier with how our Logo looks on our trucks! Be on the lookout for us around Evansville and the surrounding areas! Please follow us on FaceBook!


Are You Ready to Take Control? Side Hustle

Last night the Senate passed the $2Trillion Stimulus Bill. It is now off to the House for a vote on Friday. What this means is there will be some relief in sight for Americans and small businesses. Now, that being said we still need to be vigilant about ensuring our most important needs are taken care of. But the one thing we have to remember is that adversity either breaks us or we beat it! Now is the time to rise up and fight through this adversity!?

 

From our last post, we outlined the initial steps that you needed to take to ensure your immediate needs were taken care of. If you did not see that post here it is.?

 

For us that are under orders to stay home, we have an opportunity to generate some much-needed cash. What I am talking about is selling the stuff you have in your house. We all have items that we bought to just have, and now those things can generate some much needed ???.? Here is what I am doing to generate some additional monies.

 

 

  • Sell items on eBay?
  • Clothes
  • Watches
  • Video games and console
  • Old cell phones
  • List larger items for sale on Craigslist
  • Mountain Bike
  • Desktop computers
  • Kitchen gadgets

 

 

The list above is what I identified in my house that I am going to be selling. You can also sell items on apps like LetGo and Mercari.?

 

I have a question for you?..?

 

How many items do you have in your home that you can sell?

 

Next Steps: Turning a Passion into an Income

 

Stay Tuned!

 

Be safe and healthy!


Are You Ready to Take Control?

As each one of us navigates this new daily life there is a lot of uncertainty what tomorrow will look like. Please take a moment each day and be thankful for your loved ones! Today, we got some good news that the Senate has passed a $2 Trillion Stimulus Bill. At this time there is very little information out there on how these funds will help small businesses and households. Right now we are on edge and want to know when this will all end.? How do we get through this? We go on the OFFENSE! In a time like this, we all need to ensure our basic needs are covered. How do you get those basics covered??

  • Determine what you need to live on a monthly basis
    • Rent, mortgage payment
    • Utilities
    • Food
    • Car payment
    • Health Care?
    • All other bills

 

  • Are you eligible for unemployment benefits?
    • If yes, make sure you apply immediately
    • If no, are you eligible for other State or Federal assistance

 

  • Contact your Landlord or Mortgage Company
    • Ask for a deferment or forbearance for your monthly payment
    • Determine what option works best for your situation
      • If you need HELP please call us at (812) 777-5850 or email us at Ryan@truvest.co. Free of charge!?

 

TIP: Deferred/forbear payments-Options

  • Deferment- Could be moved to the back of your loan or rental agreement-Extended terms
    • Could increase your monthly payment
  • Forbearance- You will not have to make payments for a period of time
    • Payments can be moved to the back of your loan OR
    • The payments will be added to the balance of your mortgage or rent.
    • This option could increase your monthly payment
  • Contact other creditors
    • Ask if they offer deferment/forbearance/hardship programs

 

Next Steps: Side Hustle

 

Stay tuned!


U.S. Apartment Rents Are Rising Fastest & Most Expensive In These Cities

The latest analysis?of U.S. apartment rent was released from RENTCaf?. The national average rent for an apartment increased 3%, reaching $1,474 in December 2019. Renters were paying $43 more per month for an apartment than in December 2018. New York City is the most expensive place in the country to rent with a tenant having to fork over $4,211 per month on average.

The research also analyzed the cities experiencing the?biggest increases in rent with Phoenix in the first position. It saw a 9.6% spike between late 2018 and 2019 with the average rent now standing at $1,123. Las Vegas came second with 6% growth while Austin had the third-highest pace of growth with%.

Infographic: Where U.S. Apartment Rents Are Rising Fastest | Statista You will find more infographics at Statista

 

The U.S. Cities Where Apartment Rents Are Astronomical

San Francisco has the?highest rents for apartments?in the U.S. according to a?report from Zumper. Prospective tenants searching for an accommodation in the Bay Area will need extremely deep pockets with the median rental price for a one-room apartment there running to $3,330 per month.

New York City isn't far behind on the list of astronomical rents. A one-bedroom flat in the Big Apple would cost $3,000 every month to rent while an extra bedroom would push that up to $3,400. Toledo, Ohio is at the very bottom of Zumper's list with a rental prices for a one-bedroom apartment flat coming to just $440.

 

Infographic: The U.S. Cities Where Apartment Rents Are Astronomical | Statista You will find more infographics at Statista

 


The affordability crisis that is breaking America

While the stock market may be hitting new highs. It doesn't have a direct correlation to the bigger issue we still face in America. The cost of living is actually becoming a bigger issue with the markets rise creating a bigger spread between those who can, and cannot, afford to keep up with the rising cost of living. The Affordability crisis is here. The cost of living, and access to affordable housing are still a significant and growing vs shrinking issue for most Americans. We have decided to take a new TruVest approach in moving beyond affordable housing to a "sustainable housing" approach. Which takes a contemporary holistic vs black and white approach to address the housing crisis in relation to the growing affordability crisis we are "all facing.

The following article is an in-depth look at a critically important socio-economic issue that's not getting enough light in relationship to the things that truly matter. We look forward to your thoughts in the comments. We want to hear about your relationship with the affordability crisis.

In one of the best decades the American economy has ever recorded, families were bled dry.

By ?For The Atlantic

In the 2010s, the national unemployment rate dropped from a high of 9.9 percent to its current rate of just 3.5%. The economy expanded each and every year. Wages picked up for high-income workers as soon as the Great Recession ended, and picked up for lower-income workers in the?second half?of the decade. Americans? confidence in?the economy?hit its highest point since 2000, right before the dot-com bubble burst. The headline economic numbers looked good, if not great.

But beyond the headline economic numbers, a multifarious and strangely invisible economic crisis metastasized: Let?s call it the Great Affordability Crisis. This crisis involved not just what families earned but the other half of the ledger, too?how they spent their earnings. In one of the best decades the American economy has ever recorded, families were bled dry by landlords, hospital administrators, university bursars, and child-care centers. For millions, a roaring economy felt precarious or downright terrible.

Viewing the economy through a cost-of-living paradigm helps explain?why roughly?two in five American adults would struggle to come up with $400 in an emergency so many years after the Great Recession ended. It helps?explain why?one in five adults is unable to pay the current month?s bills in full. It demonstrates why a surprise furnace-repair bill, parking ticket, court fee, or medical expense remains ruinous for so many American families, despite all the wealth this country has generated. Fully one in three households is classified as ?financially fragile.?

Along with the rise of inequality, the slowdown in productivity growth, and the shrinking of the middle class, the spiralling cost of living has become a central facet of American economic life. It is a crisis amenable to policy solutions at the state, local, and federal levels?with all of the 2020 candidates, President Donald Trump included, teasing or pushing sweeping solutions for the problem. But absent those solutions, it looks certain to get worse for the foreseeable future?leaving households fragile, exacerbating the country?s inequality, slowing down growth, smothering productivity, and putting families? dreams of security out of reach.

The price of housing represents the most acute part of this crisis.

In metro areas such as the Bay Area, Seattle, and Boston, severe supply shortages have led to soaring prices?millions of low- and middle-income families are no longer able to purchase centrally located homes. The median asking price for a single-family home in San Francisco?has reached $1.6 million; even with today?s low-interest rates, that would require a monthly mortgage payment of roughly $6,000, assuming that a family puts down the standard 20%. In Manhattan, listings for sale?now ask an average of nearly $1,800 per square foot.

The housing cost crises in the Bay Area and New York might be the country?s most obscene. But the problem is national, driven by a combination of stagnant wages, restrictive building codes, and underinvestment in construction, among other trends. Home prices are rising?faster than wages in roughly 80% of American metro regions. In 2018, housing affordability declined in every one of the 160-some urban areas analyzed by?the National Association of Realtors, save for Decatur, Illinois. Rising prices and housing shortages are squeezing families in?Reno,?Minneapolis, and?Phoenix.

The problem now even extends to?rural?areas, where income growth?has lagged?in the post-recession period. A recent report by the Pew Charitable Trusts?found??sizable? increases in the number of households spending half or more of their income on housing in rural counties across the country. The housing crisis is hitting Bertie County, North Carolina, and Irion County, Texas, too.*

One central effect of the housing-cost crisis has been to turn the United States into a country of renters. The homeownership rate has fallen from a peak of nearly 70% in the mid-aughts to under 65 percent today; the numbers are more acute for Millennials, whose homeownership rate is 8 percentage points lower than that of their parents at?the same age. Unable to buy, roughly 3.5 million younger families have?kept renting?delaying the Millennial and Gen X cohorts? wealth accumulation, thus consigning them to worse net-worth trajectories for the rest of their lives. And renting, for many families, is not affordable, either: Nearly half of renters are facing uncomfortable?monthly bills, and the cost of renting has risen faster than renters? incomes for a full 20?years now. >>> READ MORE HERE