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Social Security COLA on track for smaller increase in 2025

Housing Wire

cost-of-living adjustment (COLA) in 2025, a smaller increase than in recent years as the bite of inflation loosens its grip. The data indicates that low-income seniors are more affected, but those in a higher income bracket are also posting higher spending levels relative to their income.

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What are the potential home equity and tax strategies for wealthy seniors?

Housing Wire

It depends on an individual’s tax bracket and their priorities, but there are several options for higher-net-worth individuals,” Resch said. But the 2017 Tax Cuts and Jobs Act (TCJA) is also scheduled to sunset at the end of 2025 unless Congress acts to either extend or replace it.

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Targeting 2025’s 10 Top Housing Hot Spots 

Appraisal Buzz

The National Association of Realtors (NAR) has announced 10 top hot spots for the 2025 housing market based on economic, demographic and housing factors predicted to significantly impact local markets. 2025 Outlook NAR expects the Federal Reserve to maintain a gradual approach to easing monetary policy in 2025.

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The ‘silver tsunami’ will hit South Florida even harder

Housing Wire

In 2025, it’s estimated that roughly 940,000 residents in the 65-and-over bracket — including 130,000 who are 85 or older —will call the region home. Florida already leads the U.S. in the concentration of older adults living there, with more than 18% of its total population comprised of residents 65 and older.

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Congress should adopt mortgage interest tax credit: CHLA

Housing Wire

The Community Home Lenders of America (CHLA) is calling on both houses of Congress to adopt a mortgage interest credit as the 2017 Tax Cuts and Jobs Act (TCJA) is currently set to expire in 2025. This is according to a letter the organization submitted to leaders in both the U.S. House of Representatives and the U.S.

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Nearly Half of All Prospective Buyers Struggle with Basic Home Costs

Appraisal Buzz

Moreover, a majority of Americans (27%) from all income brackets, including the mass affluent and above, reported that they have been compelled to set up a payment plan or other arrangement in order to help with making monthly payments. This is why industry estimates call for a robust 2025 with $2 trillion in expected mortgage originations.”

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Mortgage rates — not commission lawsuits — will be the story in 2024 for publicly traded brokerages

Housing Wire

Our best guess is that any changes to the commission structure are more of a mid-year second half type of event that doesn’t really start to show in the numbers until 2025,” Tomasello said. The good news is that we can bracket the financial impact and they can absorb it, and I think that’s good news.

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