11 million households fell behind on rent or mortgages in second quarter

And the number of student loan borrowers who fell behind was triple that

In the second quarter of 2020 nearly 11 million households fell behind on their rent or mortgages – however nearly triple that number, approximately 30 million individuals, missed at least one student loan payment, according to a recent report from the Mortgage Bankers Association’s Research Institute for Housing America. (Housing Wire)

The data compiled from the Understanding America Study was the result of a panel survey tailored to study the impact of the pandemic specifically on mortgagors, renters and student loan borrowers.

According to the survey, evidence suggests that student debt is affecting housing-market behavior, in particular, how rising student debt burdens may have crowded out first-time-home purchases among Millennials.

Every additional $1,000 of student debt lowers the homeownership rate by approximately 2% – a sizeable effect, according to the report. This bolsters the findings of other studies, including a 2017 study by the National Association of Realtors where more than 75% of respondents with student loans said their educational debt impacted their decision to purchase a home.

Over the span of the second quarter, 5% of mortgagors missed one payment, 2.8% missed two payments, and 3% missed all three payments. Student loan borrowers, however, struggled to make payments more than mortgagors and renters – while 9.3% of student loan borrowers missed one payment over the quarter, 16.4% missed two payments, and 12.9% missed all three payments.

“In the pandemic, missed student loan payments or deferrals could adversely affect the ability in the future for younger households to enter the housing market or slow the climb of the housing ladder,” the release said.

Through the second quarter, 65% of borrowers reported receiving permission from their lender to delay or reduce their monthly payment – though only 57% took the offer. Nearly a third, 30.6%, of those who did receive permission missed a payment.

By race and ethnicity, the percentage of borrowers reporting missed student loan payments was on average over the quarter 54.5% for Blacks, 49.7% for Latinx, 45.0% of Asian/Hawaiian/Pacific Islanders, 44.4% for Whites, 42.3% for White Non-Latinx and 37.1% for Native Americans, the report said.

If you are wondering how current national and global situations might be impacting your property’s value, your neighborhood, or the Real Estate market in general, we are happy to provide more specific information.

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Four Ways to Create Kid Friendly Spaces in Your Home

 
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Children, just like their parents, have spent more time than usual at home this year.

Interior designers have some suggestions for parents to make their kids’ bedrooms and play areas attractive and functional.

Get playful with color

“Kids love color,” Vicky Serany, founder of Southern Studio Interior Design in Cary, N.C., wrote in an email. “Allow them to be part of the process but place the colors strategically. A small color swatch is magnified exponentially when placed on large pieces such as walls, doors, furniture and area rugs.”

Serany mixed neutral colors with bright colors in the third-floor playroom and bunk rooms in a beach house she designed.

“The color palette of neutral walls highlighted with splashes of navy blue, bright orange and turquoise blue provide a whimsical gathering space for kids,” Serany wrote. “The sleeping bunks are separated by barn doors painted a lively turquoise sea blue.”

While some parents and kids gravitate to pastels, Susan Jamieson of Bridget Beari Designs in Richmond suggests bold colors help generate creativity in children.

Choose the right materials

Materials that are safe and can stand up to sometimes messy kids are important so the space continues to look good for the long term.

“Kid-friendly no longer has to mean disposable, especially in the age of performance fabrics that are ‘juicy juice’ proof,” wrote Chad James, founder of the Chad James Group in Nashville. “I find that children’s spaces usually lack quality materials and create a disconnect from the rest of the home. Now we have the resources to provide quality and durability.”

Acrylic materials including fabrics, interior carpets and rugs can be a good choice, James says.

“Repeat after me: ‘Acrylic is our friend’,” James wrote. “On the other hand, try to stay away from anything that might be too sharp or cause injury. I found that upholstery is king! Keep everything plush and soft.”

Glass, metal and stone tend to be materials to avoid when designing kid-friendly spaces, James wrote.

“We used performance fabrics on the furnishings spaces that can withstand abundant play without worry in the playroom and bunk rooms in the beach home we designed with a third floor devoted to kids,” Serany wrote. “Try adding an indoor-outdoor area rug for an additional splash of fun, too.”

Arrange the space with kids in mind

Jamieson suggests kids’ spaces should be designed to encourage creativity along with quiet, imaginative fun such as reading and drawing.

“Keep furniture kid-friendly by using chairs and tables that fit their size and height,” Jamieson wrote.” Don’t fill up the space with too much furniture — kids need room to play as well. Use super soft rugs and keep furniture edges round for safety’s sake.”

Make room for storage

Storage is a priority in any kids’ space, Serany wrote. She recommends incorporating space for kids to tuck away their personal treasures such as storage drawers under their beds and built-in storage cabinets.

Whether you’re redoing a room from top to bottom or just sprucing up your child’s bedroom or playroom for a new school year, think about storage, the size of furniture, choosing durable materials and opting for a few bright colors.

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How To Plant An Apartment Friendly Container Garden for the Fall

 
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As temperatures start to drop, it’s time to start moving outdoor plants inside

What’s not to love about fall weather? Warm days and cool nights are perfect for checking out the changing colors in the high country. Pack a lunch, hike some trails and let nature inspire your creative plantophile side.

Then, when you are back home in your apartment or house, get your green thumb going with some imaginative indoor plant gardens.

Before getting started with an indoor garden, can you continue growing outdoor containers that have been on your deck or patio all summer by moving them inside?  Absolutely, and right now is the best time to bring back outdoor vacationing house plants, herb containers, cactus and succulent containers, and any other plants that can work in your indoor spaces.

Only bring in healthy plants, and check for disease and insects. If any are detected or leaves are sickly from something (even if you can’t identify the culprit), just toss the plant, since problems spread quickly among house plants.

Since apartments and houses usually have less light than outside conditions, shade-loving annuals like begonias, fuchsia, caladiums, ornamental peppers and coleus are some of the easiest to grow indoors. Consider taking cuttings from outdoor plants to grow new plants.

Growing plants indoors is becoming as popular as baking your own bread. Both go hand in hand, since there is nothing like noshing on a toasty hunk of artisan bread while admiring your latest green works of art. Invite friends over to join in the planting fun (and ask them to bring additional plant supplies and some jam for the bread).

Choosing plants

Just like when planting outdoor containers, use the tried-and-true rule for a mixed dish garden. Combine thriller (tall), filler (round around the middle) and spiller plants (edging). Smaller dish containers may need just one of each, with more for larger dishes. You don’t have to follow this three-tiered rule. Single-plant specimen containers (like the tiny ornamental peppers) are fun, fun, fun (and come in assorted colors). Go for bright colors on house plants and various shades of green. Toss in variegated leafed plants to kick it up a notch. The key is to plant the plants closely so they look filled in on planting day.

The short list of more traditional foliage and blooming plants to consider for mixed containers include:

  • lemon cypress (tall)

  • anthurium (tall)

  • euphorbia (tall)

  • arrowhead plant (filler, spiller)

  • ivy (spiller)

  • coleus (tall, filler)

  • cyclamen (filler)

  • croton (tall, filler)

  • poinsettia (tall and filler for holiday)

  • kalanchoe (tall and filler)

  • cyclamen (tall, filler)

  • peace lily (tall and filler)

  • pothos (filler)

For assembly tips + different types of inside planter ideas, visit The Know.

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Home Trends That are Going to Rule the Rest of 2020

 
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While some home decor trends are fleeting fads, others persevere for a reason.

To prove this point, I reached out to a group of interior designers to find out which current trends will continue to dominate the design world this year. From maximalist-minded spaces to Zoom rooms and beyond, these 16 design trends will reign supreme throughout the rest of 2020—and will likely be relevant into 2021, too.   

 
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1. Maximalism

Maximalists rejoice! Designer Caitlin Murray of Black Lacquer Design says over-the-top interiors are more than just a flash-in-the-pan fad. “We’re going to continue to see more maximalist spaces that are heavy on color, pattern, and architectural details,” she explains. “Clients are adding more—not taking things away—to their interiors, which is, of course, going to make for spaces that are much more sumptuously layered, intricately detailed, and expressive. If you’re looking to create a maximalist space, I recommend playing with different textures, mixing prints, and introducing more color.”

2. Bright paint colors

With the world feeling seemingly more uncertain and tumultuous by the day, designer Nicole Gibbons, who is also the founder of Clare paint, says people are turning to vibrant shades to uplift and ground their homes. “Bold paint colors that draw from nature, such as a violet-blue or a spirited shade of green, can sway the vibe from tranquil to cheery depending on the light and furniture in your space,” Gibbons says. “Our two newest hues, Blue’d Up (as seen in the above bedroom by @houseof.lais) and OMGreen, were voted for by nearly 2,600 of our fans as proof.” 

 
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3. Unhung artwork

According to designer Lori Paranjape of Mrs. Paranjape Design + Interiors, creating laid-back spaces, filled with unfussy art displays, will continue to be a priority for home decor lovers in 2020. “Lean in to a casual way to style your space,” she advises. “Not all art has to be perfectly hung. A relaxed lean feels fresh, takes the edge off, and makes a room feel more collected than styled.”

4. Multifunctional spaces

As more and more people transition to working and teaching children from home, designer Emily Spanos of Emily June Designs says making spaces more multifunctional will stay trendy. “With WFH becoming the norm for so many, I foresee a continued desire to transform every square foot into a more powerful reflection of who we are and how we live,” she explains. “With this, I expect to see an increased use of bold color and pattern as well as a thoughtful approach to multifunctional spaces—think no space should go to waste!” 

5. Antique decor

Much like the move away from fast fashion, designer Liz Wilson of MC1R Studio says interior design is increasingly utilizing vintage and antique pieces. “The craftsmanship is often superior and usually has a story,” she says. “As clients become more conscious of their impact on the environment, buying vintage is part of that awareness. Giving pieces a second life is what’s trending. Whether it’s a small bust, painting, or large sofa, vintage pieces can be incorporated into any space, adding instant character.”

6. Indoor-outdoor rooms

In order to safely host close friends and family at home, designers Beth Dotolo and Carolina Gentry from Pulp Design Studios say that finding creative ways to entertain at a distance will remain on-trend. “We’re all trying to make lemonade out of lemons,” Dotola says. “We designed this home bar around our client’s garage-style door for walk-up hosting and ease in outdoor entertaining. The best part is that it still looks amazing, even when you’re entertaining indoors, for year-round function and style.”

 
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7. Warm neutrals

Nothing makes a space feel more welcoming than a warm color palette, which is why designers Tavia Forbes and Monet Masters of Forbes + Masters believe neutral hues are here to stay. “As 2020 comes to a close, we see people creating more comforting spaces within their homes since so much more time is being spent there,” Masters says. “In-home trends are leaning more toward warm tones: blush colors, taupes, browns, creams, and salmon shades. Mixed with soft textures, these colors create an oasis you’ll want to spend all your time in.”

8. Bold prints

When it comes to trendy wall coverings, Spanos says eye-catching patterns and prints will reign supreme for the rest of 2020. “I’ve been using larger patterns and prints that feel more artistic in nature because their more substantial repeats lend a distinctive look to a space,” she explains. “I particularly love MINDTHEGAP’s collection of wall coverings and textiles as well as Voutsa and Design LegacyThe Pattern Collective is another expertly curated studio whose founder does a fantastic job sourcing larger prints you don’t see anywhere else!”

9. Built-in storage 

While savvy storage solutions will always remain popular with small space dwellers, designer Lauren Wills of Wills Design Associates predicts that strategic built-ins will make a return in the final months of 2020. “With more time spent inside and the concept of thoughtful living on the rise, I can see more and more people investing in built-ins or semi built-ins to enhance their daily living experience,” she says. “There are some great companies out there, like Fronteriors, that offer custom fronts, sides, and tops capable of giving your IKEA cabinets a custom look (as seen in the above photo). Don’t forget that a quick Google search will put endless DIY ideas at your fingertips!”

 
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10. Natural decor elements

In light of the unprecedented amount of stress already experienced this year, designer Nina Magon of Contour Interior Design believes incorporating natural elements, such as houseplants and stone finishes, into home decor will remain more important than ever. “Adding touches of nature into your space can offer a calming effect that can help relieve those stresses and is a great way to bring some life into your home,” she explains. “Incorporating more organic and natural elements into your home environment is one design trend that will be dominating the rest of 2020.”

Visit Apartment Therapy for the full list.

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Experts Say These Are The Products To Buy Before Fall and Winter

 
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At the start of the pandemic in March, some products seemed impossible to find stocked on store shelves: disinfectant wipes, yeast to make bread, bikes and even jigsaw puzzles sold out as stay-at-home orders swept the nation.

The same thing could happen again in the fall and winter, when there’s expected to be another wave of infections as people spend more time indoors. White House advisor Dr. Anthony Fauci said that Americans should prepare to “hunker down to get through this fall and winter,” in a panel discussion with doctors from Harvard Medical School Sept. 10.

It’s likely that people will return to a similar shopping patterns that they developed early in the pandemic, Kelly Haws, a marketing professor at the business school at Vanderbilt University who specializes in consumer psychology, tells CNBC Make It.

Beyond feeling prepared, there’s a psychological reason why we tend to “panic-shop” in times of crisis. “Covid-19 has forced many of us into circumstances where we feel out of control and uncertain about the future,” Haws says. “Buying stuff that we need in our daily lives is a very easy form of regaining some control.”

Here’s what experts say you should buy now to be prepared for the fall and winter:

Shelf-stable foods

It’s always good to have a two-week supply of essentials such as shelf-stable food and medications that could sustain you and your family in an emergency, Haws says. But it’s important not to overreact and go into panic-shopping mode, she says. Although there were shortages of essential items (such as toilet paper) at the start of the pandemic, eventually those shortages were resolved

As you grocery shop, make sure you have enough of the less-essential food items that you always incorporate in your routine, Haws says. For example, “I pretty much always make sure I have plenty of coffee on hand, because the idea of not having it just doesn’t sit well with me,” she says. 

Investing in small comforts can go a long way: “Have something that makes you continue to feel good and feel like yourself and have a little bit of normalcy, whether that be through particular beverage or food that you like, or through clothing that you wear,” she says. 

Cleaning supplies and hand sanitizer 

With the next wave of the pandemic coming around flu season, it will be extra important to follow appropriate hand hygiene to prevent the spread of Covid-19 and the flu. But the scarcity of disinfectant wipes has been slower to resolve than some things, like toilet paper.

Sara Skirboll, shopping and trends expert at RetailMeNot, suggests picking up just one extra cleaning item each shopping trip you take. (Most stores also have a limit to the number allowed per customer.) “Then you’re not contributing to the overall shortage when and if that actually happens,” she says. The easy-to-find cleaner Pine Sol was recently approved by the U.S. Environmental Protection Agency because it was shown to kill the virus that causes Covid-19. 

Subscription boxes

According to Skirboll, subscription boxes were hot during the last lockdown. It’s a good idea to sign up for a subscription box service now, because there could be delays or wait lists if there is another surge in demand, she adds.

Luckily for parents who are juggling remote learning, there are lots of subscription boxes that are targeted for kids, such as Kiwi Co, she says. (Many can be purchased on Amazon.) Each month, you can receive a box with an educational activity or lesson for kids of all ages. 

Signing up for a meal kit subscription boxes, such as Butcher Box or Hello Fresh, can also reduce the amount of grocery shopping that have to do in person, she says. “The neat thing is you’re almost guaranteed that you’re going to be getting some fresh supply of food to your door every month or however often you sign up,” she says.

Exercise equipment 

With gyms closed, there was a shortage of home workout equipment, such as free weights, kettlebells and workout benches. Skirboll suggests looking on Facebook Marketplace and Nextdoor Marketplace to see if anyone in your neighborhood is selling gently-used weights or other home workout tools that you can’t find at major retailers. 

While it is safer to exercise outdoors during Covid-19, that may be difficult during cold winter months. “Gloves, hats and materials that allow people to exercise outdoors will be very important,” Skirboll adds. 

Air purifiers

We know that Covid-19 is spread through respiratory droplets when an infected person sneezes, coughs, talks or breathes. Home air purifiers can filter out the airborne particles in your air that could possibly contain Covid-19, Shelly Miller, professor of mechanical engineering at the University of Colorado Boulder who studies urban air pollution, tells CNBC Make It.

HEPA, or “high-efficiency particulate air” filters have been shown to be very effective at capturing at least 99.97% of airborne particles that are at least 0.3 microns in size, she says. (For context, the Covid-19 virus is about 125 nanometers or 0.125 microns large.) Air cleaners essentially pull air in, pass it through a filter that removes small airborne particles and then dumps clean, particle-free air back in the room, she explains.

While it’s not clear what effect these portable devices would have on Covid-19 transmission, or if ventilation alone can eliminate the virus, increased air circulation is a good idea. 

When buying an air purifier, look for a device that uses HEPA filters, and also consider the size of the space you’re hoping to clean, Miller says. The Association of Home Appliance Manufacturers has a great database of air cleaners that have been independently vetted, she adds. 

Holiday gifts

Start your holiday shopping even earlier than you would in typical years, Skirboll says. “There are going to be delays and possibly inventory issues, so if you know what you want, go ahead and buy those things as soon as you can,” she says. Especially if you’re buying special toys for kids, because those are likely to sell out, she says. 

Another thing about holiday shopping: Black Friday is an unknown at the moment, Skirboll says. With more people shopping online versus in-person, all the more reason to get a jump on your list, she says. 

Visit CNBC for more holiday season tricks for 2020.

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