Happy workers = more loans?
Here’s a question that most people find difficult to answer…are you happy at your job? It’s a loaded question and a lot of variables go into what constitutes happiness, but the career website CareerBliss gave it some perspective. They recently released its annual list of “Happiest Cities to Work” (did your city make the list?) and the study looked at factors such as company culture, growth opportunities, work setting, and employer support. The results were interesting… young professionals prefer overall company culture and personal fulfillment vs their paycheck. I know what you’re thinking – how the heck does this translate into an increase in mortgage loans? I’ll keep it simple and practical for you… if you’re happy at your job, you’re more willing to stay at your company or at least in the same industry. Companies typically reward dedicated and experienced employees with increases in pay, incentives, benefits, you name it. People will spend that money to improve their lifestyle and live the American Dream. Now I’m not pulling this out of nowhere – according to Fannie Mae’s HPSI (Home Purchase Sentiment Index), American’s are gaining more and more confidence in the housing market which has led to an incline in home purchases. Additionally, the index shows that when it comes to personal finances, 73% of American’s say they are not concerned about losing their jobs and 16% said that their income is significantly higher than it was 12 months ago. Oh, and not to mention, that unemployment rate that you always hear about…. yeah, it’s been on the steady decline since 2010 – coincidence?
But why save your money to buy a house when you can use that money and go to space? Yeah, you heard me correctly, and that statement may not be too far away. Elon Musk just launched his Tesla Roadster into space orbit headed for Mars which was aboard the most powerful rocket in the world, the Falcon Heavy. This thing can lift into orbit a mass greater than a 737-jetliner loaded with passengers, crew, luggage and fuel. But that’s not the best part, it’s cheap. Well, not McDonald’s dollar-menu cheap, but compared to the next closest comparable rocket, it costs a 1/3 of the price to produce. Elon Musk and SpaceX just brought us one giant leap closer to Mars.
Photo by NASA on Unsplash
The opinions expressed in this post are the sole view of the writer and do not reflect the opinion of Princeton Mortgage Corporation.