The Federal Reserve concluded their two-day meeting this afternoon and left rates unchanged (expected) but did say inflation has moved close to their 2 percent target, the labor market is strong, unemployment low, and consumer spending moderate. This points toward more rate hikes this year as expected. While we didn’t see a rate hike this month, next month will likely hold a different outcome after their meeting.
The ADP Employment Report showed 204K jobs created in April, exceeding expectations of 190K. This marks six months of consecutive job gains above 200K.
Renting is expensive and it’s showing rapid growth, especially in California where three cities showed 10 percent or more price growth year over year. Las Vegas and Houston are seeing the highest rent growth at 15.6 percent. CRAZY.
Towns faced with retiring works and a primarily aging population are providing incentives to fill open jobs. The offers on the plate: cash, student-debt relief, and home purchase assistance. These are primarily small towns and communities, where the number of people at the prime working age have declined. It’s why major cities like San Francisco and Miami aren’t offering these incentives—they have an influx of millennials to fulfill those jobs.
It’s National Home Remodeling Month! The bathroom (81%) and kitchen (78%) continue to compete for the top spot. Other popular projects include the entire house, room additions, window door replacements, decks, repairing damage, and finished basement. We’re still seeing a number of folks taking advantage of their home equity to update their homes and complete home projects.
Top neighborhoods for green homes in 2018: Ohio holds 3 of the top 10 spots, along with Pennsylvania and California. Who knew Ohio would lead the way in sustainability? Offering programs and access to financing helps.