- According to the Warren Group, single family sales in Massachusetts fell 6.6% in August, the 6th time sales have decreased year over year in 2014. Condo sales fell 15.3%. According to NAR, nationwide, total housing sales (including single family, townhomes, condos and co-ops fell 5.3% when August 2014 was compared with August 2013.
- According to The National Real Estate Post, most increases in housing numbers came from the affluent, mostly wealthy Asians and Caucasians and show a rise of approximately 50% over the past several years.
- The Wall Street Journal notes that the rate of Americans starting their own households is disturbingly slow. Economist Thomas Lawler says that the U.S. added 476,000 households for the year ending in March compared with an average of 1.3 million in each of the two prior years. The U.S. population grew by 2.3 million last year and should have added 1.2 million households. The majority of the 476,000 new households added were renter households.
- Did you know that buyers of real estate owned by a seller from a foreign country are obligated to withhold 10% of the purchase price and remit to the Internal Revenue Service along with Form 8288 within 20 days of the transaction? (FIRPTA)
- ICREA (WorldProperties.com) provided information from Allianz, the German Insurance group, Global Wealth Report:
- Looking at the financial resources of private households in over 50 countries, the top 5 are: Switzerland, U.S.A., Belgium, Netherlands and Japan
- Globally, gross financial assets grew by 9.9% in 2013, the highest rate of growth since 2003.
- A half billion people worldwide entered the middle income category since 2,000. That group doubled in Latin America, tripled in Eastern Europe and grew seven-fold in Asia.