Fort Wayne Fourth in Nation For Housing Affordability

houses-for-sale-in-fort-wayne-in recently did a study titled “2015’s Best & Worst Cities to Start a Career”. The study looked at 150 U.S. cities and used 19 key metrics to find out how cities ranked for young people starting a career.

One stat that popped out was Fort Wayne, Indiana being in the Top Five for housing affordability.

One being the best and 150 being the worst, Indianapolis graded out at 92 and Fort Wayne was 103.

Millennial Assumption Debunked

Joel Kotkin published an article titled “Misunderstanding the Millennials” (read here). Very fascinating data driven article which debunks the idea that millennials (generation born after 1983) are seeking their place of residency in urban environments.

Data obtained in this article shapes a lot of business decision making for various entities and why listening to theorists who “want” urbanization compared to what the consumer wants is critical. Here are some of the findings:

in a 2010 survey by Frank Magid and Associates – where would be their “ideal place to live,” more millennials identified suburbs than previous generations, including boomers. Another survey, published last year by the National Association of Homebuilders, found that 75 percent of millennials favor settling in a single-family house, 90 percent preferring the suburbs or even a more rural area but only 10 percent the urban core.

only 20 percent of millennials live in urban core districts; nearly 90 percent of millennial growth in major metropolitan areas from 2000-10 occurred in the suburbs and exurbs.

A full 82 percent of adult millennials surveyed said it was “important” to have an opportunity to own a home. This rose to 90 percent among married millennials, who generally represent the first cohort of their generation to start settling down.

Another survey, this one by the online banking company TD Bank, found that 84 percent of renters ages 18-34 intend to purchase a home. Still another survey, this one from Better Homes and Gardens, found that three in four saw homeownership as “a key indicator of success.”

In a 2014 survey by the Demand Institute (sponsored by Nielsen and the Conference Board), millennials also were found to favor suburbs, embrace homeownership and crave more space, much like previous generations.

Housing Graph: Houston, TX Beats California

Mark J. Perry over at Carpe Diem Blog shows an amazing stat on the economy of Houston, Texas.

Texas Ranch For Sale: $725 Million or Best Offer

Per Associated Press:

One of the largest ranches in the U.S. and an icon for Texas horse and cattlemen has been listed for $725 million, marking the end of a decades-long courtroom battle among the heirs of cattle baron W.T. Waggoner, who established the estate in 1923.

The estate includes the 510,000-acre ranch spread over six North Texas counties, with two main compounds, hundreds of homes, about 20 cowboy camps, hundreds of quarter-horses, thousands of heads of cattle, 1,200 oil wells and 30,000 acres of cultivated land, according to Dallas-based broker Bernie Uechtritz, who is handling the sale along with broker Sam Middleton of Lubbock.

I did a little calculating on what a 30 Year Mortgage would be on this property if you put a $30 Million dollar downpayment on it and secured a loan for 4.25%. Your monthly payments would be just a shade over $3.4 Million a month.