Did You Know...
Richard Elias
Top Producer | Real Estate Professional | All Surrounding San Diego Areas | COMPASS
* California Representative Jimmy Panetta in March introduced legislation with Mike Kelly from Pennsylvania that doubles the amount of money homeowners can exclude from declaring on their taxes when they make a profit on the sale of their home. Under the “More Homes on the Market Act,” when a homeowner sells their home, they'll be able to exclude $500k for single filers and $1 million for joint filers. It would also be indexed to inflation moving forward. Currently, the legislation only allows for single filers to exclude $250k in gains and $500k for joint filers. The amount, set in 1997, hasn't changed in 26 years. (Marketwatch)
* About 28% of households were occupied by someone living alone (up slightly?from about 27% in 2010). That is 35 million households that may not care as much about schools and other issues that?families and couples care about
* More than 60,000 real estate agents have exited the sector over the last 6 months, according to data from the NAR. There were about 1.537 million in April, down from the all-time high of 1.6 million in October.
* Is the COLD PLUNGE the hottest home amenity? Some think so and its health benefits are well known already. If the agony of plunging into cold water extends your life by a few months, would you try it? or have you alread
* Credit card delinquencies peaked around 13.8% in 2009. By the end of 2015 they were down to about 3.85%. By the end of 2019 just before COVID hit they had almost doubled to 6.91% and now they are back up to 6.51%. Mortgage delinquencies are around 1.94%? They were 3.5% just before COVID hit at the end of 2019. (WSJ)