LESS THAN HALF THE AVERAGE – The average 30-year fixed rate mortgage over the last 45 years is 8.26%. The average 30-year fixed rate mortgage as of 11/17/16 was 3.94% (source: Freddie Mac).
WE TEACH THE WORLD– 59% of the 1,043,839 foreign students studying at American colleges during last year’s school year (2015-16) are natives of China, India, Saudi Arabia or South Korea. New York University (NYU) and the University of Southern California (USC) have the most foreign students in the United States (source: Institute of International Education).
WHAT ADVICE WOULD YOU GIVE? – A survey of 2,000 American adults found that their “best financial decision ever made” was “getting a college education” while their “worst financial decision ever made” was “not saving enough for retirement” (source: Claris Finance).
DECAYING – The United States will need to spend $3.32 trillion over the next decade to fix our nation’s infrastructure, including $2.04 trillion in roads and bridges(source: American Society of Civil Engineers).
STILL AT HOME – 32% of Millennials are living with a parent. “Millennials” are defined as the 75 millionAmericans ages 19-35 in 2016, i.e., individuals born from 1981-1997 (source: Pew Research Center).
IMPROVING TREND – American banks have repossessed 318,000 homes YTD through 10/31/16. Banks repossessed 450,000 homes in 2015 and 671,000 homes in 2012 (source: RealtyTrac).