1. Donald Trump dumped $35 Million Of Real Estate In 2018. Forbes reports “Although the president delegated day-to-day management of his assets to his sons Eric and Don Jr. upon taking office, he maintained ownership of his business, which continued to liquidate properties.” Click the link above to have a look at all of Trumps real estate sales for the year.
2. MILLENNIAL LOCK OUT
“Over the past couple of years, rising pay and low mortgage rates finally converged to make the dream of home ownership a reality for America’s millennials, many of whom had long been locked out of the housing market. But now, the door is on the verge of slamming on the under-35 crowd, leaving young families outside looking through the picture window—again.” Fortune reports Millennials Are About to Get Locked Out of the Real Estate Market—Again. The bottom line is builders need to find a way to build more affordable housing for younger folks. With land prices so high, does it make sense for them to build smaller, more affordable homes?
3. FLIPPING TAX!
Many developers have been making huge profits restoring historic buildings in Greater Boston. Hence, the city council has proposed levying a tax on some of those properties to help pay for more housing. “The proposal would set a tax of up to 6 percent on many commercial and residential sales over $2 million and establish a “flipping” tax of up to 25 percent on some properties that are sold twice within two years. It’s a bid to stem speculation and profiteering in Boston’s red-hot real estate market, the councilors say, and could raise anywhere from $175 million to $350 million a year.” Read The Boston Globe’s story, Boston officials propose new taxes on some real estate deals to pay for more housing. What do you think? Good idea, or bad?
4. IT LOOKS LIKE A TOSS UP
“In the midst of the longest US government shutdown in history, a volatile stock market, global trade wars and Apple slashing its revenue forecasts to start the year, the question rings loud: How will the US housing market hold up in 2019?” Joshua Pollard from Forbes writes his 5 Reasons 2019 Is The Most Important Year For Housing In 10 Years. I believe Joshua is right, the government shutdown and other economic factors are already affecting real estate, so what is next?
5. LOOK BEFORE YOU LEAP
I’ve lived in or near, or driven through many of the places Realtor.com maps out in their article, America’s Safest Places to Live … Where You Can Actually Afford to Buy a Home. They “set out to find these seductive strongholds where you can have it all. And we’re not talking about the boonies: We zeroed in on metropolitan areas, which include cities and the surrounding suburbs. (Note: Cities often have higher crime rates than their less-populated surroundings.)” I have not been to a few of these places so they may be worth checking out, but one thing to consider is the real estate tax rate wherever you choose to buy. For example, in Hartford, Connecticut, with the $260,000 house price point Realtor.com mentions, the owner may be obligated to pay almost $20,000 this year in property taxes. Ouch!
6. PAY TO PLAY?
“Federal investigators have cast a wide net for information about foreign investment in Los Angeles real estate development, according to a search warrant that names an array of political and business figures, the Los Angeles Times reported Monday morning.” CBS Los Angeles reports on a FBI Corruption Probe Underway Into LA Real Estate Development Deals. At this point it’s simply an investigation and governments have been doing these kinds of deals for years. With so much money at stake it’s important to keep all involved focused on the best interest of the city.
7. HUES OF PINK
“Pergolas, metals, and pinks will be the leading landscape cravings of 2019, according to the National Association of Landscape Professionals. The NALP surveyed 1 million of its landscaping professionals to predict the hot trends that will influence the design and maintenance of backyards across the country.” Take a look at Realtor Magazine’s Top 5 Landscaping Trends for 2019.
8. THE OLD SIMMER POT
How about this for your next open house? “Fixer Upper star Joanna Gaines knows not only how to make a house look amazing, but also how to make it smell fantastic. And not with the usual scented candles or sprays, but something far simpler: a simmer pot.” Realtor.com and Joanna Gaines Shares Her Secret to Making a House Smell Divine. With teenage boys in the house, I’m going to have to put an extra large simmer pot on!
9. A HUGE DENT
It took my wife and I many years to pay off all of our student debt. CNBC reports the “Federal Reserve economists studied the impact that the $1.5 trillion in educated-related loans is having on those aged 24 to 32. They found that while it is not the principal contributor to the decline in housing purchases, it is playing a significant role.” Read how Student loan debt is keeping young people from buying homes, Fed study finds. How about we figure out a way to help young folks feel less burdened right out of college?
10. ITALY AND REAL ESTATE
My two favorite things in the world besides my family are Italy and real estate. “Berkshire Hathaway HomeServices signed Maggi Group Real Estate, its third global franchisee, the company said Thursday in a statement. The business, which operates in northern Italy, expects to expand to Rome within two years.” Bloomberg just revealed Warren Buffett’s Real Estate Network Expands Into Northern Italy. It appears the Milan real estate company is looking to expand with international clients seeking houses in Milan and Tuscany. Need a referral? 🙂
Have a great weekend!
