While there’s no way objectively quantify the political ramifications of the failed assassination attempt on former President Trump over the weekend, history suggests–at the very least–that such occurrences are not damaging for a candidate’s political capital. As one example, Reagan’s approval rating immediately jumped 8 points after being shot in 1981. There does seem to have been an initial market reaction in the overnight session, but much like with the presidential debate reaction, it was very underwhelming in the bigger picture. This doesn’t preclude a bigger reaction in November, but as in 2016, the most important political change would be one that results in a one-party sweep (House, Senate, Oval Office).
This interview has been edited for length and clarity.
Flávia Furlan Nunes:How would each administration’s approach to the economy affect the mortgage industry?
Mark Calabria: You’re starting with the absolute most important aspect. While differences in housing mortgage policy are important, the overall driver will be the overall economy — predominantly the question of inflation and jobs. I recognize there are some out there who would argue that Trump will be more inflationary. He will be less, particularly given the experience we’ve had. That’s the benefit: We’ve had four years of Trump and almost four of Biden. There is actual history that compares.
Inflation will be more stable under Trump and you would see a decline in interest rates and mortgage rates more than you would under Biden. That said, of course, we’ve seen an overall decline in interest rates, even if they do remain somewhat high. It should be kept in mind that it doesn’t matter who the president is in 2025; we’re not going back to 3% mortgage rates. The difference between administrations, at most, would be a percentage point.
Nunes: What do you expect for the job market in a Biden or a Trump administration? Calabria: We are seeing a slowing in the job market, and in Biden 2.0, I would expect the slowing trend to continue. You would see a number of things done in the Trump administration that might put some additional steam back in the job market. But I recognize forecasting is tough here. That said, what you think will happen to inflation and jobs should be 80% of what you think will happen to the housing and mortgage market.
The traditional forecasting community consistently underestimated growth during the Trump years and consistently overestimated growth during the Biden years. I don’t want to get too much of a digression, but the typical macro models used in the forecast community are very much demand-driven. Things like regulation don’t enter their forecast. It’s not that they’re intentionally wrong; it’s just that they’re not capturing the whole picture.
Nunes: On the fiscal front, several provisions from the Tax Cuts and Jobs Act of 2017 are scheduled to expire at the end of 2025, barring action from Congress.
Calabria: Obviously, the corporate fiscal incentives are quasi-permanent. It’s the individual things that come up. With a Trump administration, you’re largely seeing some tweaks and extensions of the 2017 changes, and they certainly are discussing: what can you do in terms of perhaps stimulating the housing market?
One of the things Republicans are looking at, on the tax side, is some indexing, perhaps temporarily, of the capital gains relief that you see in homeownership. It hasn’t changed since 1997. And of course, $500,000 for a couple in 1997 was a lot of money. It’s a lot less now. Both administrations will be looking at tax incentives to reduce lock-in effects in the existing-home sell side. You can debate if one is more effective than the other. The Biden side seems to be more tax-credit driven. My sense on the Republican side? It is probably more likely focused on capital gains.
Nunes:Regarding monetary policy, The Wall Street Journal reported that Trump’s allies are “quietly” drafting proposals in an attempt to erode the Federal Reserve’s independence. What do you have to say about the independence of the Fed under a potential Trump administration?
Calabria: The Fed operates within the government. The Fed coordinates with administrations. The argument that Trump is somehow bringing a threat to the Fed’s independence is grossly exaggerated, if not completely false. I don’t have a lot of sympathy for that argument. My argument is not that there aren’t going to be some questions from the Trump administration about Fed behavior. My argument is, that’s how every administration behaves to some degree. They just do it differently.
Nunes: How do you see a Biden or a Trump administration addressing the affordability challenges?
Calabria: Housing has been subjected to inflationary pressures like the rest of the economy. There’s certainly a view on the Republican side that you could address inflationary pressures writ large. For instance, the same thing that has been driving up gas and grocery prices has impacted cement, lumber or labor prices. So, they’re all caught together to some extent. If you deal with the underlying inflationary issues, that will help with housing affordability. That’s one broader aspect.
When you drill down into what’s likely to happen, you haven’t seen specific proposals. Most of the Biden proposals, even though they’ll put up some pieces of paper that say “housing supply” at the top, 90% of it is housing demand. What is a $10,000 tax credit for down payments but increasing demand? That’s not going to make housing more affordable. It may make housing more affordable to the individual who gets it, but it makes overall housing less affordable.
Nunes: What else can be done to increase the housing supply?
Calabria: Certainly, on the lending side, the constraint is not you and I get a mortgage; the constraint is the builder getting construction finance. That results from 30% to 40% of community banks since Dodd-Frank having disappeared.
You’re going to see an approach under a Trump administration that’s much more looking at how we strengthen community banks. You need to be able to do that if you want to make construction financing readily available. It’s one of the reasons that you’ve seen consolidation among the builders. You have to deal with the construction lending side of it. And you would see that addressed better under a Trump administration than in the Biden administration.
Nunes: Construction finance is only one challenge. What about labor costs?
Calabria: There’s also a constraint on skilled labor. You have limitations on electricians and carpenters, some of this of course is when you increase spending in other parts of the economy — for example, the infrastructure bill. When you increase demand in the economy for construction labor, you’re increasing the cost of housing. You can argue that it’s worth it, and that’s fine — I’m an economist by training and I don’t think there are any free lunches.
You’ll see a different conversation at a national level in terms of where people should devote their careers. So much of the conversation of the Biden administration has been about student debt relief for doctors and lawyers. You’ll see a much bigger conversation in the Trump administration about how it’s a great thing to be a plumber, carpenter and electrician, and how we strengthen apprenticeship programs. It’s not to take away from doctors and lawyers, but it’s just an emphasis on you won’t get a lot of new housing built unless you can do something about the constraints in skilled labor.
Nunes: What is your opinion on the current administration’s initiatives in the mortgage space?
Calabria: There’s been a weakening of underwriting standards by this administration, not just at FHA, but also at Fannie and Freddie. If I can be slightly humorous, my description of the Biden administration’s housing policies is that they see two families competing aggressively over one house and they believe the solution is to add a third family. You’ve seen this massive expansion, high debt-to-income lending, that has been irresponsible and doesn’t do anything other than erode affordability. That has added to housing demand.
Keep in mind that you’re in an economy where you saw big increases in homeowners insurance. If you’re getting somebody into a loan with a 50 DTI, and then suddenly they’ve got an increase in their homeowners insurance, that’s not a sustainable world. There have been increases in allowable loan to value. Obviously, there’s been a lot of pressure to increase appraisals and weaken appraisal independence, which probably has inflated housing values as well.
They’ve done things that even don’t show up as directly. The CFPB has pushed for the elimination of medical debt and other things [from credit scores]. That may be the right policy, but it inflates FICO scores. If you’re not increasing the credit box to offset that, then you are knowingly decreasing the underwriting.
Nunes: Do you think that the federal government has limited means to influence housing supply, so wouldn’t it be expected to do more on the demand side?
Calabria: Washington doesn’t have a lot of levers in terms of housing supply. I understand if you feel you have to do something, most of your tools are demand-oriented. But that said, you have to recognize that increasing demand when supply is limited makes it worse, not better. There’s a lack of recognition of that.
There have been proposals on the Republican side to release some small amounts of federal land. There’s a process in Nevada, in Clark County around Las Vegas, where you can convert federal land to housing development. The proposal is to essentially allow it in other cities. The Joint Economic Committee made some estimates, and it could result in 3 million new units being built. The federal government does have land. Some of it is in urban areas, like Denver, that are facing affordability challenges but can be converted. Nobody’s talking about chopping down the redwoods or building housing in Death Valley. But it’s hard to see this administration ever thinking about federal lands to do anything other than be dirt.
Nunes:Among the steps taken by this administration, they reduced mortgage insurance premiums for FHA loans. How do you evaluate this decision?
Calabria: It only increases demand. There are things that the industry may like. Some of that is good for overall affordability. Some of it isn’t. Did housing prices go down after they did that? Did homeownership go up after that? No.
Obviously, the industry is under tremendous pressure, particularly on the nonbank side. Rather than trying to target things that look like they help the industry, if you target things to get the overall market going, that’s the better approach. For instance, on the tax side, if you allow some capital gains relief, many people with those 3% mortgages may be willing to sell their homes, which will increase the volume, increase existing-home sales and bring some of the volume back.
Nunes:What changes could we expect for the CFPB under a potential Trump administration?
Calabria: I don’t think the CFPB is going away — as much as that would be nice. But I do think you are going to see a difference in the stance, which will matter in the mortgage industry, in terms of enforcement and obligations. The Republicans’ approach to the CFPB is to say that there are wrongdoers; we will go after the bad guys. This administration says the same thing, and that’s where the overlap is. The difference is this administration also has the view that we’re going to use the CFPB to pick winners and losers to redistribute to our friends and engage in a lot of social engineering. And that’s a much different approach from just going after the bad guys.
Writ large on compliance and regulatory costs, Trump’s CFPB will be considerably lower. Post Dodd-Frank, one of the problems has been that it costs so much more to originate loans. A tremendous amount of that is because of regulatory costs. It’s not like the bad guys get to run wild; you’d still see enforcement.
Nunes: What’s the future of HUD, in your view?
Calabria: HUD is not going away. There may be some changes in some of those programs. And that’s fine, because much of what they’re doing today is just adding to demand without added supply. And of course, you’re not going to be able to deal with inflationary pressures unless you’re willing to make some changes to the budget. And if we’re going to make changes to the budget, anything, including HUD, should be on the table.
Nunes: Would a Trump administration’s goal be to resume some of its past projects, such as releasing Fannie and Freddie from conservatorship or implementing more caps on their purchases?
Calabria: There’s a much higher chance in a Trump administration of Fannie and Freddie coming out of conservatorship. You don’t need Congress to do it. Having been the guy who started it, I know a lot of work was done. There’s a road map; it’s all doable. It’s a benefit to the industry because you reduce the degree to which politics drives. You have to go back to letting Fannie and Freddie behave as businesses. It will bring a lot more certainty to the industry.
The restrictions put in place were always done to minimize disruptions to the primary purchase market. In 2020, when investment caps were put in place, everybody said the sky was falling. Did the sky fall? No. That business got picked up. It was done by other people. Trump is a developer. The guy spent his entire life in real estate. He tends to have people in the administration who understand how the housing and mortgage markets work.
Just like you saw in 2021, any constraints on Fannie and Freddie will be done to minimize disruption in the mortgage market. You can look at all these people who said in 2018 and 2019 that Calabria would kill the mortgage market. It didn’t happen. Nobody benefits from a strong Fannie and Freddie more than the mortgage industry.
Nunes: One initiative from Freddie Mac is a pilot program to purchase closed-end second mortgages. Do you support this idea?
Calabria: I would certainly expect that to get suspended. Should we be spending the portfolio on second mortgages instead of mortgages that are purchases? I recognize that the industry is hurting. Everybody wants to focus on things that bring the overall market back. But you can’t blow up Fannie and Freddie at the cost of it. That might feel good in the short run, but it’s not the right approach in the long run.
Nunes: A topic that’s been covered extensively at HousingWire is the National Association of Realtors’ settlement and changes to agent commission structures. What are your thoughts on that?
Calabria: If you remember, there was a 2020 settlement with NAR. That got thrown out the door. There’s a very high likelihood that it reverts back to the 2020 settlements. Again, that doesn’t stop some of the litigation out there. But you would see a very different stance toward the real estate industry and the kind of war on Realtors comes to an end.
Nunes: Who would you expect to lead federal housing agencies and companies under a potential second Trump term?
Calabria: It’s too early to say. But you’re likely to have people who are both experienced regulators and people with deep experience in the capital markets. You’ll have people who have experience with Trump’s style and understand how he governs. It’s less surprising, perhaps, this time around.
Nunes: Would you return to the government? If so, in what capacity?
Calabria: I believe in public service. If asked to serve in a capacity to make a difference, I would certainly be inclined to accept. But which capacity, that’s up to the president. You don’t get to choose it. My interest is broadly financial services.
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Are you ready to save money in advance for Christmas this year? Then, you are in the right place.
With this Christmas Budget Challenge, you will be prepared for holiday spending and not be scrambling at the last minute.
Get prepared for a debt free Christmas!
Tired of overspending? This challenge is perfect for you.
Tired of the post-Christmas debt hangover? This is exactly what you need.
The Christmas Budget Challenge is wonderful for someone who wants to take control of their life both their time and their money. Plus enjoy a debt free holiday season!
In 2019, the average family spent $900 on Christmas, according to Statista. Do you have $900 lying around for just Christmas gifts, decor, food and any other miscellaneous Christmas items?
Be honest with yourself.
If the answer is no, don’t fret. That is probably 90% of society. Keep reading and you can change that.
In order to have a debt free Christmas, you must save up in advance and plan your Christmas budget.
If the statistics hold true, then collectively over one trillion will be spent on the holiday season. So, you need to be prepared for next Christmas.
Remember, saving money is setting money aside today to be used for a future purpose.
So, what are the tips and tricks on how to have a debt free Christmas?
We want a Debt Free Christmas!
In order to have less stress around Christmas, the goal is to fund your Christmas money envelopes the week of November 1st.
That way you have plenty of time to shop around, get the best deals, and be the first one with wrapped presents.
Let’s talk about Christmas money envelopes… They are the perfect place to put your cash so you have money saved when the holiday comes. No paying on credit cards and having the January debt hangover.
If you prefer an online option, then use a savings builder account.
We want a debt free holiday season!
Even a smaller holiday that you can afford is better than a huge holiday that you can’t afford. Period.
Please note… Just because you may finish your Christmas shopping early, doesn’t mean it is a free pass to keep spending on those last minute items. That will wreck every Christmas budget.
Download the Christmas Budget Tracker and Gift Planner now.
Celebrate a debt free Christmas
It’s that time of the year again. The Christmas budget is looming and you’re scrambling to find a way to pay for it, or at least limit how much it will cost.
Christmas is a time of giving, family fellowship, and memories.
Christmas is not an unexpected expense.
You don’t want to be stressed or worry about how you are going to pay for it.
Debt Free Christmas tips: Plan ahead and use these money saving tips.
How to have a Debt Free Christmas
Christmas is financial stress and debt, but there are ways to plan for it so that you can have a debt-free Christmas. By saving up now, you will be able to afford the things you want without having to worry about repaying loans in January.
You need these debt-free holiday tips in your life! This is exactly how to enjoy Christmas with no money – specifically NO DEBT.
A debt free Christmas!
Also, once you enjoy living a debt free Christmas, you have learned many of the millionaire habits that will help you all year round.
1. Save Up Money Early
The sooner you start saving for Christmas, the better off you will be when the holiday gets closer.
As with any of our money saving challenges, it takes a little discipline to set money aside for a specific purpose and only use it for that purpose.
Shortly, we will go into detail on how much money to save based on your budget for Christmas.
In our household, we have a sinking fund that each month we add a pre-determined amount towards. It is a lean $50 per month because we prefer a minimalist home and choose experiences over gifts.
2. Implement the 3 Gift Rule
This is the best way to make a minimalist Christmas a possibility by limiting the number of gifts each person gets – especially the kids.
Let’s be honest… so times, it is hard to limit ourselves to only buying a few items.
With the 3 gift rule at Christmas, you are able to stay with your Christmas budget. Plus you will be able to buy high-quality gifts instead of purchasing a bunch of small gifts (to make it seem like you are making Christmas gift-giving bigger and better).
For our household, our 3 gift rules follow this:
Something to wear
Something to read
And don’t forget the fun!
3. Plan Ahead
There are two ways to plan ahead.
First, use our Christmas Budget template to help you decide how much you need to spend and how much you can spend. This will help you to plan in advance the best gifts for your loved ones.
Second, to shop off-season or on clearance. Our perfect example was our oldest needed new snowpants, so I bought them in June for the upcoming winter. I paid pennies compared to the retail price and had an awesome much-wanted present.
By planning ahead, it will also take off much of the stress that you are experiencing around the festive holiday parties.
4. Pick Your Traditions
Have you ever considered which traditions are your favorites? Which do you do because they are your traditions even if you don’t enjoy them and they are costly?
One year, I decided to poll my own family on their favorite family traditions. Their top five list were all things that were frugal, didn’t cost much money, or were volunteering to help others.
This is where family politics can become friction between families.
You have to choose what works for you and your family and your budget. (Not theirs!)
5. Be Brave and Say No
Let’s face it. Saying no is hard and sometimes isn’t fun.
But, you desire a debt free Christmas more than anything else this year.
Your personal financial future is more important than spending money you don’t have.
Quick example: you are invited to 5 parties with family and/or co-workers. Each party has a $20 gift limit for each person attending. So, you are dropping $200 as a couple on parties that aren’t your first priority.
It is okay to opt-out of gift exchanges. Be clear with your reasons and tame their expectations of you.
Make it is time to find a community that shares some of the same money values as you!
Christmas Budget Challenge for a Debt Free Christmas
All of the Christmas Budget Challenges will be based on the average Christmas budget each year. (That number from above is based on average spending.) Just remember that number is a collective of gifts, food, decorations, and any miscellaneous holiday items.
Because every family and their personal finance situation is unique, we will break this Christmas Budget challenge up into various spending levels.
You choose which will work best for your family.
Related Resource: 8 Simple Tips to Stay on Budget at Christmas
Let’s discuss how these numbers we decided on for the Christmas Budget Challenge. First, the average family spent $900 on Christmas in 2019, according to Statista. Regardless of whether you think that number is jaw-dropping high or way too low. That was the average amount spent. Those are the statistics.
So, for this challenge to have a debt free Christmas, we are going to break that into three different levels.
Christmas Budget Challenges Levels:
Average Christmas Budget – $900
Frugal Christmas Budget – $450
Luxury Christmas Budget – $1,800
Just a side note…The average spending of $900 at Christmas includes amounts put on credit cards that weren’t able to be fully paid off.
The goal is to save $900 by the week of November 1st. (Don’t worry about counting weeks. The key dates and weeks are listed below.)
That means saving money for Christmas weekly.
This challenge is about having a debt-free Christmas and holiday season.
Don’t think it is possible to have a fabulous holiday season without debt?
Let me tell you… IT IS POSSIBLE!
We have done it each and every year. There is no post-hangover stress or guilt on how much was spent.
Also, makes sure to check the end of the post for the dates for 2020!
Average Christmas Budget – $900
For the first challenge, we are going to be average. Plain, old average. Nothing fancy here. Also, we are assuming the average spending is the same as the average Christmas budget.
We are making the assumption that you plan to spend the average amount as each American family did in 2017.
Average Plan
Weekly Amount to Save
44 Weeks
$20
30 Weeks
$30
23 Weeks
$40
18 Weeks
$50
15 Weeks
$60
9 Weeks
$100
Frugal Christmas Budget – $450
Next, the frugal Christmas budget is half of the average amount spent on the holidays. A fabulous Christmas put together for under $450. Personally, we have always limited the number of gifts.
Think outside the (Amazon) box!
Or take on a frugal lifestyle or thrifty lifestyle.
Simplicity is key.
Frugal Budget
Weekly Amount to Save
44 Weeks
$10
30 Weeks
$15
23 Weeks
$20
18 Weeks
$25
15 Weeks
$30
9 Weeks
$50
Luxury Christmas Budget – $1,800
Lastly, the luxury Christmas budget is for someone who has the capability to spend more and wants to make sure it is done without debt. By saving in advance, there are so many more options available when the holidays roll around.
You plan to save $1,800 for the holiday season.
Luxury Plan
Weekly Amount to Save
44 Weeks
$40
30 Weeks
$60
23 Weeks
$80
18 Weeks
$100
15 Weeks
$120
9 Weeks
$200
Key Dates:
Based on when you are reading this post will determine how much to start saving by date.
Don’t just pin this post later… be prepared!!
52 Week Savings Plan: November 1st 40 Week Savings Plan: January 25th 30 Week Savings Plan: April 5th 23 Week Savings Plan: May 24th 18 Week Savings Plan: June 28th 15 Week Savings Plan: July 19th 9 Week Savings Plan: August 30th
Download the Christmas Budget Tracker and Gift Planner now.
Where to Save Christmas Money
Now, it is one thing to say, “I’m going to start saving money for Christmas this year.”
It is completely different to actually act on it.
The BIG recommendation is to get it outside your temptation to spend!!
There are two options on where to save your Christmas budget money.
Savings Option 1 –
The first option is an online account.
Personally, this is my favorite. Simple reason on why. It is harder to access the money (it takes 2-3 days for the money to be transferred back to your local bank account). Plus, it is simple to set up an automatic transfer and forget. Then, money is set aside in a separate account until you need the funds.
Every month, we add the same amount to our sinking fund.
Savings Option 2 –
The second option is to use a cash envelope.
This one comes with the temptation to dive into the money set aside for a debt free Christmas. Personally, I think the prettier the envelope, the likelihood to actually use it goes up, too.
Check out the list of Best Cash Envelopes. Pick up your Christmas money envelope now!
Large family: How to have a debt-free Christmas
In order to avoid a debt-free Christmas, you need to start the year by saving your first paycheck. The rest of the money from that point on went towards Christmas expenses and was budgeted for that holiday.
The key is you cannot spend money set aside for this purpose.
By doing this, you are able to have an exciting Christmas without any debts.
Still, stressed about giving the best gifts for your large family? Here are great gift ideas that are affordable and thoughtful.
Enjoy These Debt Free Holiday Tips?
That is a bunch of simple and easy tips to make sure you learn how to have a debt free Christmas!
Are you up for the challenge? Make this year your first debt-free holiday season.
Start saving now in order to have a debt free Christmas.
And enjoy a stress-free holiday!
More Christmas Resources for you!
Know someone else that needs this, too? Then, please share!!
Did the post resonate with you?
More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!
Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.
Looking for a low-stress job that pays well? This list has you covered. These 10 jobs offer good pay without the stress of a typical 9-5. Perfect for those seeking flexible hours or needing low-stress work for health reasons. Find a job that fits your lifestyle and start enjoying a better work-life balance.
Massage Therapist
Image Credit: Pixelshot.
A massage therapist helps people relax by working on their soft tissues and joints. They need to know anatomy and medical procedures and often work in calm places like spas or clinics. This job is low-stress and pays well and is easy to get training..
Electrician
Image Credit: Kadmy from Getty Images Pro.
An electrician is a skilled worker who only needs a few years of training. After an apprenticeship, they can work with electrical tools and circuits. This job pays well and doesn’t require many qualifications.
Librarian
Image Credit: Adamkaz from Getty Images Signature.
Librarians help people find information and manage collections. They work in a calm environment and often have time to read. This job is low-stress and pays well, making it a great choice for those who love books.
To learn more: 50+ Best Low Stress Jobs After Retirement
Dental Hygienist
Image Credit: Piksel from Getty Images.
A dental hygienist cleans teeth and teaches patients about oral hygiene. With a two-year degree and state licensure, this low-stress job offers a good work-life balance and pays well.
Virtual Assistant
Image Credit: Chee Gin Tan from Getty Images Signature.
A virtual assistant provides remote administrative, creative, or technical help. Working from home, they avoid office politics and can enjoy a flexible schedule. Very popular for stay-at-home moms.
To learn more: 14 Best Virtual Assistant Jobs with No Experience Required
Makeup Artist
Image Credit: Drazen Lovric from Getty Images Signature.
A makeup artist enhances clients’ appearances with cosmetics. They work in salons or as freelancers in the beauty, fashion, and entertainment industries. Basic communication skills are needed, but no formal education is required. Just style!
To learn more: Best Online and Side Hustles for College Students: Ideas for Fast Money
Plumber
Image Credit: Pixelshot.
A plumber installs and repairs pipes and fixtures, ensuring water flows where needed. With apprenticeship training, plumbers can enjoy a well-paying job without a degree.
Photographer
Image Credit: Alliance Images.
A photographer captures moments and memories. Good skills in composition, lighting, and timing are essential. Training in art and design helps, but a degree is not needed. This job has good demand and many niches to seek.
To learn more: 25 Best Jobs for Moms With No Degree: Balancing Family and Career
Solar Photovoltaic Installer
Image Credit: Zstockphotos.
Solar photovoltaic installers set up solar panels on buildings. They need to understand electrical wiring and troubleshooting. Due to a labor shortage, this job pays well and is low-stress if you like climbing on roofs.
To learn more: 43 Best Side Hustles for Men to Make Money
Radiologic Technologist
Image Credit: SimpleFoto.
Radiologic technologists use imaging techniques like X-rays and MRIs to help diagnose and treat diseases. They work closely with doctors and need good communication skills. An associate’s degree is required.
Find More Low Stress Jobs that Pay Well
Image Credit: Drazen Zigic from Getty Images.
Discover more low-stress jobs that pay well without needing a degree. These jobs offer minimal stress and plenty of growth opportunities, making them great choices for a new career.
To learn more: Best 30 Low-Stress Jobs That Pay Well Without a Degree
Know someone else that needs this, too? Then, please share!!
Did the post resonate with you?
More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!
Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.
Data on the intersection between housing issues and politics is clear: in 2024, housing is an issue that resonates strongly with younger voters, but high mortgage rates and high home prices may be issues for years to come. This is according to a report published this week by Politico.
Recent data about attributes of the housing market — including existing home and pending sales, mortgage rates and home prices — have not painted a rosy picture of the housing market for new entrants. Subject matter experts are taking notice.
“Home sales activity is at a 30-year low — it’s essentially stuck at that level, so all of the economic activity associated with home sales is at a depressed level,” said Lawrence Yun, chief economist for the National Association of Realtors (NAR) to the outlet.
Pricing appears to be most on the mind of younger voters in particular, according to a survey conducted by Redfin chief economist Daryl Fairweather. But federal government initiatives have not made much headway on this issue in particular, since policies at the local, county and state levels are often bigger determinants of pricing changes than federal policies.
“It’s unprecedented, it’s never been such an issue,” Fairweather told Politico. “I think this is the first time housing could actually matter in the swing states — before it was mostly in the coastal areas.”
Fairweather added that the importance of the housing issue was seen in the recent U.S. presidential debate, where President Joe Biden immediately mentioned housing issues as a priority if elected to a second term.
Inventory is climbing, but not at a rate fast enough to undo supply issues that have been “years in the making,” Fairweather added. Some of this is due to the impacts of the mortgage rate lock-in effect, where borrowers who otherwise would be willing to move and sell are motivated to hold onto a low mortgage rate they obtained in 2020-2021.
“It’s really hard for the housing market to get out of this funk because of the mortgage rate lock-in effect,” she told Politico. “I don’t think that the problems with the housing market are going to clear up in a matter of years. It could take a decade.”
The Biden administration has announced a slew of housing measures over the past year designed to broaden access to the market, most recently including a new grant program, a $469 million investment in renovations and the expansion of housing counseling availability and funding.
Prices are moderating somewhat, but remain historically high, said Orphe Divounguy, senior economist at Zillow to Politico.
“Today I think we’re in a much better place than we were in 2022, when prices were growing unsustainably,” said Divounguy. “That overheated pace could result in a crash, which is why the Fed had to act when it did.”
Meaningful rate declines, meanwhile, will take longer to emerge.
Several days ago, we were debating whether the presidential debate or the month-end/new-month trading environment was the bigger market mover. The political angle was more popular in the analytical community, but evidence is increasingly suggesting that popularity wasn’t necessarily warranted. Today offered some compelling evidence in the form of absolutely no reaction to a widely circulated newswire that seemed to suggest Biden having second thoughts about remaining in the running. Contrast that to the immediate and obvious reaction to the ISM Services data, which made for the highest Treasury trading volume since PPI and jobless claims data on June 13th. Data will remain in focus when markets return from the holiday break on Friday morning thanks to non-farm payrolls.
ADP Employment
150k vs 160k f’cast, 157k prev
08:39 AM
Flat overnight and stronger in early trading. MBS up 1 tick (0.03). 10yr down 2.6bps at 4.406
01:40 PM
Drifting sideways after strong reaction to weak ISM data. MBS up about a quarter points and 10yr down 8bps at 4.352
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Little Rock, Arkansas, is a city rich in history and culture, with each of its neighborhoods offering a unique charm and distinct lifestyle. The city has so many hidden gems, vibrant neighborhoods, and stunning seasons that it’s no wonder about 203,000 residents live here. In Little Rock, you’ll find that the average rent for a one-bedroom apartment is $868. If you’re looking to rent an apartment in Little Rock, you’re in the right place. We’ve gathered a list of the 7 most expensive Little Rock neighborhoods to rent an apartment in this year.
7 Most Expensive Neighborhoods in Little Rock
From historic luxury in the Heights to the midcentury charm of Boyle Park, there are plenty of exciting neighborhoods in Little Rock. Whether you’re looking for a luxurious home to rent in Little Rock or wondering where to live in the city, we’ve got you covered.
1. Heights 2. Capitol View – Stifft Station 3. Rock Creek 4. Downtown 5. River Market 6. Boyle Park 7. Parkway Place
Let’s jump in and see what these neighborhoods have to offer.
1. Heights
Average 1-bedroom rent: $1,217 Apartments for rent in Heights
Heights is the most expensive neighborhood in Little Rock, as the average rent for a one-bedroom unit is $1,217. This upscale area stands out for its picturesque, tree-lined streets and historic charm, boasting beautifully preserved early 20th-century homes alongside elegant modern residences. The Heights is known for its boutique shopping and dining, with local favorites like Heights Taco & Tamale Co., offering a unique twist on Southern cuisine, and Eggshells Kitchen Co., a specialty kitchen store that attracts cooking enthusiasts. Residents enjoy the serene Allsopp Park, a local gem with hiking trails, picnic areas, and tennis courts, providing ample outdoor recreation within walking distance. The Heights also features a vibrant social scene with art galleries, local coffee shops like Boulevard Bread Company. Getting around is convenient, with well-maintained sidewalks promoting a walkable lifestyle, and the neighborhood’s proximity to downtown allows for quick commutes by car or public transit.
2. Capitol View – Stifft Station
Average 1-bedroom rent: $975 Apartments for rent in Capitol View – Stifft Station
Capitol View – Stifft Station in Little Rock is a distinctive neighborhood known for its eclectic charm and historic character. The streets are lined with a mix of Craftsman bungalows and early 20th-century homes, creating a picturesque and inviting atmosphere. A standout attraction is the White Water Tavern, a beloved local music venue that hosts a variety of live performances and community events. Residents also enjoy the neighborhood’s proximity to the Arkansas River Trail, offering scenic routes for biking and walking. Public transportation is convenient, with several Rock Region Metro bus routes providing easy access to downtown and other parts of the city.
3. Rock Creek
Average 1-bedroom rent: $960 Apartments for rent in Rock Creek
With an average one-bedroom rent of $960, Rock Creek is the third most expensive neighborhood in Little Rock. The area is distinguished by its lush, wooded landscapes and well-maintained residential streets, creating a serene suburban atmosphere. The neighborhood is home to the beautiful Rock Creek Park, which offers extensive walking trails, playgrounds, and picnic areas, making it a favorite spot for families and outdoor enthusiasts. A highlight of the community is the Chenal Country Club, providing residents with a premier golfing experience and various social activities. Rock Creek boasts a variety of local eateries, like Maddie’s Place, where residents can enjoy Southern cuisine in a cozy setting. Getting around Rock Creek is convenient with easy access to major roads like Chenal Parkway, facilitating quick commutes to other parts of Little Rock.
4. Downtown
Average 1-bedroom rent: $922 Apartments for rent in Downtown
Downtown is the next most expensive neighborhood in Little Rock. The neighborhood is characterized by a mix of beautifully restored historic buildings and sleek, contemporary developments, creating a visually engaging streetscape. Key attractions include the Arkansas Museum of Fine Art, which offers world-class exhibitions and performances, and the Historic Arkansas Museum, showcasing the state’s rich heritage. Residents and visitors enjoy the Riverfront Park, a scenic area along the Arkansas River with trails, sculptures, and the iconic Junction Bridge pedestrian crossing. Getting around downtown is convenient, with the Rock Region METRO streetcar system offering easy access to key areas, along with well-maintained bike lanes and pedestrian-friendly streets encouraging walking and cycling.
5. River Market
Average 1-bedroom rent: $922 Apartments for rent in River Market
The River Market neighborhood of Little Rock stands out with its bustling streets and vibrant atmosphere, characterized by a mix of modern apartments and historic buildings. The area is home to the River Market Pavilion, a hub for local farmers and artisans offering fresh produce, handmade crafts, and delicious street food. Cultural attractions such as the Arkansas Museum of Discovery provide interactive exhibits that engage both children and adults, while the nearby Clinton Presidential Center offers insights into American history and politics. Residents and visitors enjoy scenic walks along the Arkansas River Trail, which provides stunning views of the river and skyline. Transportation within River Market is convenient, with the Rock Region METRO streetcars offering a charming and efficient way to navigate the neighborhood and connect to other parts of the city. The lively nightlife, art galleries, and annual events contribute to the unique appeal of the River Market, making it a standout neighborhood in Little Rock.
6. Boyle Park
Average 1-bedroom rent: $915 Apartments for rent in Boyle Park
Next up is Boyle Park, the sixth most expensive neighborhood in Little Rock. The centerpiece of the area is Boyle Park itself, a sprawling urban oasis featuring winding trails, picnic spots, and a serene creek that attracts nature lovers and families alike. The neighborhood is characterized by charming mid-century homes and cozy bungalows, giving it a welcoming and nostalgic feel. Local attractions include the War Memorial Stadium and the Little Rock Zoo, both just a short drive away, offering entertainment and recreational activities. Residents primarily get around by car, but the well-maintained bike lanes and pedestrian-friendly streets also encourage walking and cycling.
7. Parkway Place
Average 1-bedroom rent: $908 Apartments for rent in Parkway Place
Located west of downtown, Parkway Place is the next neighborhood on our list. One standout feature is the neighborhood’s proximity to the beautiful Boyle Park, where residents can enjoy hiking trails, picnicking areas, and a scenic creek. The community is also home to War Memorial Stadium, a historic venue hosting local sports events and concerts, adding a lively atmosphere to the area. Local dining gems like Trio’s Restaurant offer residents gourmet meals with a focus on fresh, seasonal ingredients. Getting around Parkway Place is convenient, with easy access to the Interstate 630, providing quick routes to downtown and other parts of the city. Additionally, the neighborhood’s pedestrian-friendly design and bike lanes make it easy for residents to enjoy a walk or bike ride to nearby attractions and amenities.
Methodology: Whether a neighborhood has an average 1-bedroom rent price over the city’s average. Average rental data from Rent.com in June 2024.
Ultimately a Very Drama-Free Day; Back to Watching Data
By:
Matthew Graham
Tue, Jul 2 2024, 5:00 PM
Ultimately a Very Drama-Free Day; Back to Watching Data
Tuesday helped buck the recent trend of frustratingly counterintuitive selling sprees in the bond market. The amount of blame assigned to politics or to the arcane practices dictating monthly positioning in bonds can be debated, but there’s less urgency on that front with today bringing moderate improvement. Fed Chair Powell’s appearance at SINTRA was a non-event, but perhaps in a “no whammies” sort of way. Bonds gradually improved during his time on stage but lost some ground after the JOLTS data (as it should be, considering the higher than expected reading). Buyers held firm, however, and we hit the close with gains intact. To some, that’s proof positive that there’s no glacial repricing of risk following the presidential debate. To others, it’s a suggestion that it didn’t matter as much as it may have seemed. Either way, we have big ticket data to look forward to in the next two business days.
Job Openings (lower = better for rates)
8.14m vs 7.91m f’cast, 7.919m prev
Job “Quits” (lower = better for rates)
3.459m vs 3.452m prev
09:46 AM
Moderately stronger overnight with additional gains in early trading. MBS up more than an eighth. 10yr down 4bps at 4.423
11:00 AM
Some weakness after JOLTS, but improving again now. MBS up 7 ticks (.22) and 10yr down 3.1bps at 4.433
02:53 PM
Modest additional improvement with 10yr down 2.9bps at 4.435 and MBS up 6 ticks (.19)
04:54 PM
Closing at decent levels, right in line with the previous update.
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It’s been an interesting and frustrating couple of days for the bond market with yields spiking for reasons that leave many bond watchers guessing. A market participant who’s heavily involved in month-end trading/positioning may be more inclined to see the sell-off through that lens. A market participant who is more focused on politics would favor the political explanation (i.e. increased odds of a GOP sweep after the debate).
Either way, the weakness was not conveniently tied to a single moment and headline in the manner typical of big ticket economic data or Fed speeches. Today’s session begins to heal those wounds to some extent. Fed Chair Powell spoke at the SINTRA conference, but didn’t have anything new or remarkable to say. Bonds seemed to appreciated the absence of hawkish comments as they nursed a gentle overnight rally. JOLTS data was close to consensus and kept yields in the AM range despite initial selling in the day’s heaviest volume.
Friday’s trading session was marked by a surprisingly weak reaction to economic data that should have helped bonds. In fact, it did at first, but things deteriorated as the day progressed. We were left to consider some combination of politics and month/quarter-end trading motivations. Now at the start of the new week/month/quarter, the same theme is in play. Weak ISM data should have helped bonds, but we’re instead moving to the weakest levels in several weeks. This time around, it’s harder to place all the blame on the calendar-based tradeflows. In other words, bonds are getting nervous about a GOP sweep because whether it’s red or blue, a one party sweep has bad implications for Treasury supply.