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When it comes to assets, who would get them if you were to die? This is handled by assigning a beneficiary.  A beneficiary is a person or entity you choose to receive anything that’s left in your retirement account when you pass away. This means if you name a beneficiary, then you make sure your funds and assets go to them if you are no longer living.

There are different types of beneficiaries. A primary beneficiary can be a person, a charitable organization, a trust or an estate. There can be more than one primary beneficiary. The allocations just have to total 100%. Contingent beneficiaries are those who receive your assets if all of your primary beneficiaries are not living. Then there are “per stirpes” designations which are added to the primary beneficiaries. An example of this is if you have an IRA and you have two kids and they are equal beneficiaries per stirpes. If you pass away and one of your kids has three children and passes, then their kids would get their half.

Naming a beneficiary is very important. If you need help, you can always contact professionals in the industry who can direct you in the right path.

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This March showed a positive turn when it comes to single-family production due to stabilizing mortgage rates and low inventory. April saw a positive reflection in builder sentiment. The U.S. Department of Housing and Urban Development and the U.S. Census Bureau reported a downward turn of 0.8% to a seasonally adjusted annual rate of 1.42 million units. The 1.42 million units represent the number of housing units that have started.

Single-family starts rose 2.7% to an 861,000 seasonally adjusted annual rate. The three month moving average went down to 841,000 starts which is basically the gauge that is used to give the recent volatility. On a year-over-year basis they were down from March 2022 by 27.7%.

Multifamily also had a decline to 5.9% to an annualized 559,000 pace for 2+ unit construction in March. The multifamily starts includes for-rent apartment buildings and condos. ***The three-month moving average for multifamily construction has been a solid 555,000-unit annual rate which is a year-over-year basis up 6.5%.

As for regional both single-family and multifamily starts combined were 8.3% lower in the Northeast, 34.5% lower in the Midwest, 11.5% lower in the South and 28.2% lower in the West. Permits on a year-to-date basis were also down in the Northeast 24.5%, in the Midwest 25.3%, in the South 15.7% and in the West 28.1%

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