Health/Food Posts Tagged as 'Home'
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NYC has a penthouse problem, LA has a mansion problem, and Miami has a condo problem
Miami condos may boast ocean views and luxury living, but that's no longer enough to get them off the market.
Long a city for vacation homes and foreign buyers seeking safe investments, Miami is now faced with a surplus of condos, reported Candace Taylor for The Wall Street Journal. Its high-end real-estate market has slowed in recent years, with condo sales in Miami Beach decreasing by 24% over the past four years, she said.
The condo craze began in the early 2000s, Taylor reported. The market imploded during the financial crisis, but Latin American buyers — along with buyers from Europe and America — brought it back to life post-recession.
But what were once strong South American economies are now suffering, and Latin American buyers have less buying power in the US, according to Taylor. Their disappearance isn't the only factor driving the abundance of empty condos — the threat of rising sea levels and the preference for large houses are also shaping the trend, she said.
Do you consider your home a great investment? Think again
Your home may be many things. A place to raise your family. An opportunity to put down roots.
But one thing it is not is a great investment, according to Jonathan Clements, editor of HumbleDollar.com and author of “How to Think About Money.”
That’s because the price appreciation of a house is “pretty modest” — about 1% a year faster than inflation, historically speaking, he said.
Freddie Mac is forecasting home prices will grow 3.6% in 2019 and 2.6% in 2020. According to the latest figures from the Labor Department, the inflation rate as tracked by the Consumer Price Index is 2% for the 12 months ending in April.
“You put it all together and most people are not keeping up with inflation after costs, and they may even be underwater, ” said Clements, who prefers the higher long-term rate of return of the stock market.
Your House Should Not Be Your Retirement Plan
The average American is more likely to own a home than to have saved enough money for retirement. In fact, for many Americans, their house is their retirement plan: They’re counting on the value of that nest egg to fuel their golden years. But while real estate can be a good investment, it isn’t wise to rely on a house to fund your retirement. To explore why, Barron’s spoke with Teresa Ghilarducci, the Irene and Bernard L. Schwartz Chair in economic policy analysis in the Economics Department at the New School, and the author of How to Retire With Enough Money.
“You can’t eat your house a sandwich at a time,” she says.
Gay Couples 73% More Likely to Be Denied By Mortgage Lenders Than Straight Couples: Study
A new study, looking at mortgage data from 1990 to 2015 finds that gay couples were 73% more likely to be denied in their mortgage applications than heterosexuals. And those who did get approved often faced higher rates.
On average, gay borrowers paid an extra 0.2% in interest and fees, adding up to an extra $86 million per year. Same-sex couples, however, do not present a higher default risk, said study authors Hua Sun and Lei Gao.
THIS “TRANSPARENT WOOD” COULD CUT THE COST OF HEATING YOUR HOME
Scientists have added a polymer called polyethylene glycol (PEG) to transparent wood to give it the ability to absorb and release heat — and it could make heating and cooling future homes far less costly.
“During a sunny day, the material will absorb heat before it reaches the indoor space, and the indoors will be cooler than outside,” researcher Céline Montanari said in a press release. “And at night, the reverse occurs — the PEG becomes solid and releases heat indoors so that you can maintain a constant temperature in the house.”
Justices reject B&B owner who denied room to gay couple
The U.S. Supreme Court on Monday left in place Hawaii court rulings that found a bed and breakfast owner violated the state's anti-discrimination law by refusing to rent a room to a lesbian couple.
The justices rejected an appeal from Aloha Bed & Breakfast owner Phyllis Young, who argued that she should be allowed to turn away gay couples because of her religious beliefs.
"Mrs. Young will rent a bedroom in her home to anyone, including those who are LGBT, but will not rent to any romantic partners other than a husband and wife," her attorney, James Hochberg, said in a statement. "This kind of governmental coercion should disturb every freedom-loving American no matter where you stand on marriage."
A transitional home forced out a lesbian couple, citing their Catholic funding
Loads of houses are up for sale -- but middle-class buyers are still shut out
Despite an uptick in homes on the market and weakening home sales across the country, home ownership is out of reach for a growing number of middle-class buyers, according to a recent report from real estate brokerage Redfin.
An analysis of U.S. homes on the market in 2017 and 2018 found that the number of affordable homes for sale has decreased in 86 percent of metro areas (of 49 included in the study), even as the number of homes on the market grew. While buyers normally benefit from better availability in competitive housing markets, it doesn’t help if the majority of available homes are priced for the wealthy.
“For the past few years, home prices have gone up faster than wages,” said Daryl Fairweather, chief economist at Redfin. “That kind of growth really isn’t sustainable. At a certain point, there won’t be enough buyers left for the homes left on the market.”
Rising Rents Are Pushing More Tenants Past the Breaking Point
Rents have increased rapidly across U.S. housing markets as the share of renting households has risen faster than the number of new units. Now, in a survey published Thursday by an apartment-listing service, nearly one in five respondents reports struggling to make the monthly payments.
While big landlords seem to be succeeding at finding tenants who can keep up, the survey, by Apartment List, suggests escalating housing costs may be straining renters’ resources. Eighteen percent of respondents couldn’t pay the full rent due in at least one of the past three months, according to the poll of 40,000 renters. Of those who have registered for the listing site this year, 3.3 percent said they had been evicted in the past, up from 2.8 percent in 2015.
San Francisco will open first affordable housing for senior citizens
'In a city that is in some ways very youth-focused, it’s nice to have a home that’s specifically about seniors.'
San Francisco is to build affordable housing for queer senior citizens, a first for the city.
The housing comes as a result of a partnership between the Mayor’s Office of Housing, Openhouse, a nonprofit LGBT organization, and Mercy Housing.
On 23 March, the city celebrated the gran opening of their first LGBTI-welcoming senior apartments.
Gay Star News
8 Things You Should Never Put in the Dishwasher
Stick to the Sink
The dishwasher is one of those “best things since sliced bread” inventions, saving you countless hours otherwise spent stooped over the sink. But, of course, we’ve yet to create a device that’s a kitchen-cleanup panacea — there are some things the dishwasher just shouldn’t tackle.