Real Estate Blog by David Phillips, REALTOR

Your Guide to Springtime Festivals in Hampton Roads

Your Guide to Springtime Festivals in Hampton Roads

Friday, was the 1st day of spring and I don’t know about you, but personally I am more than ready to bid farewell to wearing a winter coat and welcome in this fresh new season with open arms.  
Now that the weather is starting to warm up and I’ve already seen some daffodils blossoming, I thought this would be the perfect time guide you through all the many springtime events and festivals popping up throughout Hampton Roads.   This is only a selection of the many activities and events you can enjoy...  
Right around the corner is the CHERRY BLOSSOM FESTIVAL- the Sister Cities of Virginia Beach and Miyazaki, Japan, invite you to celebrate spring, peace, and goodwill during the blossom season. This is the 10th anniversary of the annual festival and features diverse and creative programs, traditional Japanese music, arts, and culture, while promoting natural beauty and community spirit. Free and open to the public. March 29 in Virginia Beach
Bring up the morale at the office with the 3rd Annual WORLD’S LARGEST OFFICE PARTY! 94.9 The Point is inviting you and your entire office to win prizes, meet new friends, and enjoy music by DJ Julian Rivera! April 16 in Virginia Beach 
VIRGINIA INTERNATIONAL TATTOO is a grand pageant of more than 900 performers representing eight nations. Military and non-military bands, drill teams, bagpipe...

Millenials Are On The Move

Millennials Are On The Move

The recession and recovery effected young adults and their headship rate more than that of older adults. Many young people struggled in the recession and as a result moved in with their parents. 

As our economy continues to improve and add jobs, younger Americans—millennials—are slowly starting to move out of their parents' homes where a record number of them have been living for the past few years.  The global financial crisis that resulted in the 2007–2009 recession forced many unemployed or financially struggling millennials (those currently aged 18 to 34) to move back home or continue to stay living with their parents.

This trend has been one of the forces holding back the US housing market.

Establishing an independent household has long been considered an important milestone in the transition to adulthood. Over the last few years, fewer young adults were establishing their own households. The share of men and women ages 18 to 34 living in their parents’ homes was larger in 2012 than in the early 2000s.

However just in the past few months, that trend has been reversing and America's young people are finally moving out!  According to data from Goldman Sachs, the percentage of 18-to-34-year-olds living with parents is now at its lowest level since 2011.

"The improvement in the labor market is likely to push up the headship rates of younger people," writes Goldman Sachs' Jan Hatzius. "Econometrically, we have found some evidence that headship rates respond to labor market changes in the under-35 population."   According to the National Association...