By SCOTT KIMBLER With inflation at the highest rate in four decades, every facet of the economy is affected and that has put many people in the position of having to rethink their retirement plans. Professor Tom Smith of Emory University’s Goizueta School of Business says that people who are soon to retire and those just starting to plan for retirement can find themselves in quite a spot. “When you have these types of fluctuations, people have to reevaluate what they think retirement can purchase,” Smith said. “You’re going to be on a fixed income when you retire. You’ll either be on Social Security, drawing a pension, or whatever else. The higher the inflation is, the less buying power your…
Despite an uptick in job numbers and an increase in personal incomes, there is still uncertainty about how the latest Labor Statistics Report will impact the housing market. The latest jobs report from the U.S. Bureau of Labor Statistics shows payroll employment growth as 467,000 in January and an increase of job growth at 1.8 million in the last three months of 2021. The report also shows an income increase of 5.7% since this time last year. In short, more people have jobs and nearly everyone is at least making a little more money. Elizabeth Rose is a Financial Planner and Lender with Mortgage 300 based in Dallas, Texas. She says the numbers show a lot of positive growth, but maybe not…
By SCOTT KIMBLER The House version of President Biden’s “Build Back Better” plan includes about $170 billion for affordable housing and people are asking what that means. Biden’s spending plan includes $65 billion to preserve and rebuild public housing and another $15 billion to help build or preserve more than 150,000 rental properties for lower-income families. It’s part of the administration’s goal to build or preserve 1 million affordable homes. The bill is almost certain to change drastically in the U.S. Senate. But if the housing policies remain unchanged, what would this spending splurge mean for the overall housing market, at a time when prices are high and supply is low? The Mortgage Note spoke with Tom Smith, Ph.D. of…
