Recent political events have introduced significant uncertainty. Understanding how these events impact economic policy and market expectations is crucial. This article delves into the influence of presidential elections on the economy and offers actionable recommendations for financial professionals.
The home renovation and remodeling market has cooled off as higher interest rates have naturally hampered the financing that enables it. But the market has still stayed remarkably strong, with spending above 2022 levels with strong consistent projections despite high borrowing costs. What’s driving this renovation spending by homeowners and how much of it can be considered investment activity versus consumption?
A recent report produced by the Pew Research Center discusses the increasing trend of parents financially supporting their adult children well into adulthood—a phenomenon driven by higher living costs, delayed adulthood milestones, and a wider wealth gap between generations. As a Financial Professional (FP), it is essential to consider the complete picture of a household—every member affected by financial planning and decision-making, even those no longer considered dependents.
Delve into the intricate relationship between income and happiness through the lens of behavioral finance. Explore valuable insights into the nuanced effects of income changes on client well-being, encompassing not only immediate happiness but also various financial and social dimensions. Learn practical strategies to effectively guide clients through the potential pitfalls associated with increased income, providing a roadmap for sustaining lasting financial happiness.
.webp)
Soaring mortgage rates and record-high home prices are reshaping personal finance goals, pushing many to rethink the traditional notion of homeownership. This article explores the trends in home-buying behavior, from a shift towards renting, investment reallocation, changing perceptions of success, and the larger economic implications.