Funnel Wall Property That Plays Music To April Showers

fun article from architectural art designs.... In the artsy neighborhood of Neustadt Kunsthofpassage within Dresden, Germany, lies one of the most artistic inspirations we have ever encountered.A large, multi-story blue building houses the funnel wall attraction designed by three collaborative artists including Christoph Roßner, Annette Paul, and Andre Tempel. The three artists knew that the building needed to have rain gutters, so why not get a bit creative? This system of mousetrap drain and gutters features various sized metal cones that play music when it rains. When it rains in Dresden, the funnels and pipes that grace this building play “rain-music”.

Middle-income Homeowners Gained More Than $120,000 in Wealth Over the Past Decade From Home Appreciation, According to NAR

something to consider from National Associations of Realtors...NAR...more equity in seller's home in cash anyone is looking to sell and cash out... KANSAS CITY, Mo. (April 18, 2023) – A new housing report by the National Association of Realtors® reveals middle-income homeowners accumulated $122,100 in wealth as their homes appreciated by 68% in the last 10 years. The report, Wealth Gains by Income and Racial/Ethnic Group, speaks to the value agents and Realtors® bring to consumers when helping buy and sell homes that build generational wealth. NAR released the report during its 2023 Realtor® Broker Summit as the association commemorates Fair Housing Month. While not everyone has the same opportunities for homeownership, data show substantial variations and inequalities in homeownership rates across different income and racial and ethnic groups. For instance, low-income homeowners were able to build $98,900 in wealth in the last decade from home price appreciation only, while upper-income households saw an increase of $150,800. "This analysis shows how homeownership is a catalyst for building wealth for people from all walks of life," said Lawrence Yun, NAR's chief economist. "A monthly mortgage payment is often considered a forced savings account that helps homeowners build a net worth about 40 times higher than that of a renter." Although Black homeowners experienced the smallest wealth gains among any other racial or ethnic group, these owners were able to accumulate over $115,000 in wealth in the last decade. For the first time in this report, NAR identified the top 10 U.S. metro areas which have recorded the largest wealth gains for Black homeowners over the last 10 years. Black households in Bellingham, Washington; Ocala, Florida; Palm Bay, Florida; Modesto, California; Greeley, Colorado; and Charleston, South Carolina were among the areas where more than 60% of Black households own their home. Owners in these areas were able to accumulate more than $125,000 in wealth in the last decade. Along with the wealth gains accumulated in the last decade, homeowners also saw their debt drop by 21%. Many homeowners who were able to refinance and secure a rate lower than 4% in the months following the onset of COVID-19 may have paid off an even larger amount of their mortgage, Yun noted. "Your neighborhood Realtor® is a champion able to help you achieve the dream of homeownership," said NAR President Kenny Parcell, a Realtor® from Spanish Fork, Utah, and a broker-owner of Equity Real Estate, Utah. "Homeownership helps create long-term wealth and financial stability for your family and future generations." No matter the income level, owners who live in expensive metro areas experienced the largest wealth gains. In the San Jose metro area, low-income owners have accumulated nearly $630,000 in the last decade, and middle-income owners gained $643,000. All of the top 10 areas with the largest wealth gains for low-income owners – surpassing $290,000 – were located in California. In the top 10 areas with the highest homeownership rates for middle-income households, owners gained $110,000 in wealth on average in the last 10 years. In Ogden, Utah, for example, with 85% of the middle-income households owning their home, homeowners have built nearly $220,000 in wealth in the last decade. Some significant areas to note include Port St. Lucie, Florida, where homeownership rate for middle-income households was 83%, and middle-income owners gained nearly $200,000 in wealth. The metro areas of Barnstable Town, Massachusetts and Palm Bay, Florida were some other areas where most middle-income households own their home and accumulated a substantial amount of wealth – over $170,000 – in the last decade. Respectively, in the areas with the highest homeownership rates for low-income households, wealth gains were $140,000 on average. In Prescott, Arizona, while more than 2 out of 3 low-income households (68%) own their own home, owners have built more than $200,000 in wealth in the last decade. Barnstable Town, Massachusetts, as well as the Florida metro areas of North Port, Port St. Lucie, Palm Bay and Deltona, were other areas where most low-income households owned their home and accumulated a substantial amount of wealth – over $120,000 – in the last decade.

This is how much it could cost to buy a house in the U.S. by 2030 — and tips on how to start saving now

food for thought from cnbc.com....where will real estate be in 2030... Select spoke with economist Danielle Hale about why home prices are rising and what people can do to prepare. Over the last few years, we’ve seen homes sell at astronomical prices, way above the market value. It’s been a housing market that, to say the least, has left many aspiring homebuyers feeling disillusioned — like homeownership is even further off than they thought. Granted, much of this occurred under extraordinary circumstances — during a pandemic that pushed people out of densely populated cities and into suburban homes and a time of record low interest rates. But an economic report by Realtor.com released in March 2023 asserts that the monthly cost of financing your home (assuming you made a 20% down payment) has increased by almost $630, compared to last year. The hefty financial burden of owning a home today has left many people wondering: If homes are this expensive now, how much could prices rise in the future? According to a RenoFi report from Oct. 2020, the average price of a single-family home in the U.S. could reach $382,000 by 2030. Depending on where you live, this figure may seem like a drop in the bucket compared to the home prices in your city. For example, the median price of a home in New York City in February 2023 was $760,000, but the average price around Albany in Upstate New York was $219,000, according to Redfin trends. RenoFi also looked into the projected 2030 home prices for every state and some major cities in the U.S. It projects that San Francisco will have the highest average home value in the country at a staggering $2,612,484. Following it will be two other California cities, San Jose at $2,251,703 and Oakland at $1,713,554. Housing prices in the U.S. increased 48.55% over the past 10 years, according to RenoFi. When doing the projections, RenoFi assumed housing prices would again increase by the same amount over the next decade. Here’s what else RenoFi shared in its report: New York City will have an average home value of $964,101 by 2030. The average home value in Nashville will reach $539,292. Currently, the average home value is $435,000. Houston will see an average home value of $309,806 by 2030. The average home value as of March 2023 is $258,055. RenoFi has the full breakdown on its website. Home value doesn’t always equate to the actual price a buyer pays. The home value represents the amount of money a home will likely sell for based on the market. But buyers may agree to pay a price that is lower or even higher than the home’s value. What is driving up home values? Don’t Quit Your Day Job, a website providing investment resources, used housing price index data from Robert Shiller, a professor of Economics at Yale University and the Federal Housing Finance Agency to find the median value of existing homes in the U.S. In September 1996, the median price was $112,230.80 ($213,963.97 when adjusted for inflation) In September 2006, the median price was $215,734.57 ($319,869.82 when adjusted for inflation) In September 2016, the median price was $224,817.22 ($280,141.54 when adjusted) In September 2021, the median price was $343,122.34 ($376,307.55 when adjusted) In September 2022, the median price was $381,471.31 ($386,653.42 when adjusted) Experts predict that this number is going to keep getting higher. In 2021, Danielle Hale, chief economist at Realtor.com, explained to CNBC Select, “These are hefty price increases. We see this because sellers ask for one price, buyers make an offer and the home usually sells for another price. This year [2021] we saw the sale price come in above the asking price in many places.” This was at a time during super-low interest rates and increased demand for homes. But even during normal times, home prices continue to increase — as we saw by looking at home prices from 1996 to 2006 to 2016 and from 2021 to 2022. Supply and demand and interest rates can certainly affect home prices but according to Hale, another contributing factor can be an increase in wages. “In a normal economy, we see home prices increase roughly on par with wage increases because the majority of homebuyers are using wage income to buy their homes,” she explains. “Even though incomes are rising, home prices are rising even faster.” According to data from the Social Security Administration, the average wage in the U.S. between 1996 and 2019 has increased from $24,859.17 to $51,916.27. Thanks to inflation and an increased cost of living though, it can feel as if the dollar affords workers less and less over time. This is why, for many people, it can still feel as though homeownership is a far-off goal. How can people prepare for higher prices? Though looking at projected future home values might make homebuying feel like a pipe dream, it’s important for aspiring homeowners to start taking steps to improve their chances of being able to afford the home they want in the future. “The key is for young people to start saving as soon as they can,” Hale says. ″The earlier you start, the more money you may accumulate and the bigger your potential down payment will be. Be consistent about it.” If you don’t plan to buy a home for another five to 10 years, you might want to consider investing the money you save for a down payment in order to make sure your cash is beating inflation. Index funds are a low-cost way to invest, and some funds, like those tied to the S&P 500, have a history of yielding an average return of 10% per year. (Note that past returns do not indicate future success.) You can get started by opening a brokerage account through a financial provider like Fidelity or Charles Schwab. If you want something a little more hands-off, consider robo-advisors like Wealthfront and Betterment, which will automatically invest and rebalance your money based on preferences like risk tolerance and when you want to make withdrawals, so you’re not taking on too much risk. Acorns is another investing platform that is good for new investors. It has a feature that will automatically invest any spare change you have from making everyday purchases, which is an easy way to build investing into your daily life. You only want to invest the money you’re saving for a down payment if you have a much longer time horizon for buying a home so you can ride out any market dips. And keep in mind that when you sell your assets and withdraw the money, you’ll owe taxes.