The Mental Impact of Housing

first_img Tagged with: Black Knight Foreclosure Homeowners Redfin Demand Propels Home Prices Upward 2 days ago The Mental Impact of Housing About Author: Donna Joseph The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily in Daily Dose, Featured, Foreclosure, News The findings of Black Knight’s Mortgage Monitor report released on Monday indicate declining active foreclosures. The report also states, that at the current rate of reduction, (a six-month average annual decline of 27 percent) active foreclosure inventory would hit a record low in September 2019, with fewer than 200,000 cases nationwide. But looking back a decade ago, foreclosures were alarmingly high. And although the market has changed, the lessons learned from that period still have a lasting impact.Daryl Fairweather, Chief Economist at Redfin, spent a substantial amount of time in 2009 speaking to more than 100 homeowners facing foreclosures, the ramifications of foreclosures can leave an indelible mark on several households. She shared her takeaways from these conversations, in an article posted on Redfin’s site titled “What I learned from 100 homeowners facing foreclosure in 2009.” In order to better understand the underlying causes of the housing bubble that led to the subsequent crash, Fairweather explored the financial situation, employment history, financial literacy, and medical expense history of homeowners. What stands out in her assessment about their situation is a certain level of desperation and a call to help, which eventually led her to study more about how the economy is shaped through individual experiences and the financial consequences of their choices, she wrote in a recent blog on Redfin.Several homeowners, according to Fairweather, were ill-informed and lacked adequate experience about the housing market. The inability to detach themselves emotionally from their homes also played on how they valued their homes, often times above the market price. To ensure that individuals are economically and emotionally sound, there is a dire need to help consumers make informed decisions about their housing choices, which in turn affects their mental health. Providing easy access to as much as information possible to educate consumers about what goes on in their local market is also imperative to make a real difference. Keep an eye out for Fairweather’s interview in the Ask the Economist section of DS News’ December issue.Fairweather pointed to the importance of education on the housing market to equip buyers and sellers to appropriate the right value, financial literacy as well as a deeper understanding of their local markets. Emotions play a big role in how buyers and sellers base their decisions. More avenues that educate, inform and inspire homeowners to pursue their dream of owning a home without facing foreclosures and eviction will help shape the economy in a more positive way, she wrote. Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Donna Joseph is a Dallas-based writer who covers technology, HR best practices, and a mix of lifestyle topics. She is a seasoned PR professional with an extensive background in content creation and corporate communications. Joseph holds a B.A. in Sociology and M.A. in Mass Communication, both from the University of Bangalore, India. She is currently working on two books, both dealing with women-centric issues prevalent in oppressive as well as progressive societies. She can be reached at [email protected] Related Articles Share 1Savecenter_img The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / The Mental Impact of Housing Previous: The “Potential Concerns” Troubling Wells Fargo Next: A Change of Order Black Knight Foreclosure Homeowners Redfin 2018-11-06 Donna Joseph November 6, 2018 1,431 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribelast_img read more

Two tips for getting the trust of millennials

first_imgOffer money management education and use analytics to target individuals within Gen Laura LynchMany credit union mission statements include the words “trusted financial partner,” observed Jesse Boyer, president/CEO of CUES Supplier member and partner DigitalMailer, Inc., during his presentation of CUES webinar “Marketing Your Credit Union to Millennials.”“Millennials are looking for a partner who will provide them with tools to manage their money and share knowledge on investing wisely,” Boyer said.Gaining members’ trust is a credit union strength. Leverage it to attract young members by offering financial education and personalized service, using analytics.According to the 2014 TD Bank Financial Education Survey, 30 percent of Millennials say they need help budgeting. Offering money management workshops is one way to show Millennials you have their best interests in mind, Boyer suggested. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Wimbledon: Federer Survives Scare against Debutant

first_imgEight-time champion Roger Federer survived a first-set scare to see off South African debutant Lloyd Harris and reach the Wimbledon second round.Federer, 37, moved through the gears to win 3-6 6-1 6-2 6-2 on Centre Court.The Swiss, aiming for a record-extending ninth men’s title, will face Britain’s Jay Clarke next. Third seed Rafael Nadal faced fewer problems against Japanese qualifier Yuichi Sugita, winning 6-3 6-1 6-3 to set up a meeting with Nick Kyrgios.Harris, 22, had never even won a match on grass going into his meeting with arguably the greatest player of all time.But the world number 86 rocked Federer with blistering serves consistently around 130mph and backed that up with some heaving groundstrokes in a first set which left Centre Court murmuring in disbelief.After breaking Federer’s serve for a 4-2 lead, Harris confidently sealed the opener in 29 minutes as he threatened to create one of the most seismic shocks ever seen at Wimbledon.Federer, who had dropped a set in the first round at Wimbledon for the first time since 2010, seemed to lack the assurance which has rarely gone missing in his illustrious career.“I struggled early on. I felt a bit frozen, my legs weren’t going,” he told BBC Sport.“I felt it was heavy out there, the ball wasn’t going when I was hitting it and he was hitting it big.”Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more