NOVEMBER 2020 Vol. 07 | Issue 11
US ELECTION 2020 Page 58
NOVEMBER, THE LUNG CANCER AWARENESS MONTH Page 62
ADRIANA MONTES
Broker/owner of Florida Realty Group
Page 36
HAVE YOU READ OUR PAST ISSUES YET? the power is now
magazine CENTRAL EDITION Vol. 07 | Issue 11
Eric Lawrence Frazier, MBA Publisher Office: (800) 401-8994 Ext. 703 Direct: (714) 361-2105 eric.frazier@thepowerisnow.com www.thepowerisnow.com EDITORIAL TEAM Sheila Gilmore Editor in Chief (800) 401-8994 ext. 711 sheila.gilmore@thepowerisnow.com Daniels George Managing Editor (800) 401-8994 ext. 712 daniels.george@thepowerisnow.com Goldy Ponce Arratia Graphic Artist and Design Manager goldy.ponce@thepowerisnow.com
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CONTENTS POWER LENDING Pg. 26. JPMorgan Chase makes $30 billion commitment to help close America’s racial wealth gap POWER TECHNOLOGY Pg. 28. UWM rolls out “game-changing” mobile app for brokers VIP AGENTS Pg. 33. Baltimore, MD Real Estate Market trends and analysis
Pg. 36. About Adriana Montes
Pg. 42. How is the NJ Housing Market 2020 doing? POWER GREEN Pg. 8. California Gov. signs order banning sale of gasoline-powered cars by 2035 Pg. 12. As wildfires rage, climate experts warn: The future we were worried about is here POWER ECONOMICS Pg. 16. Fed Vice Chair Clarida says economy needs ‘perhaps another year’ to return to pre-pandemic level Pg. 18. Fed officials worried that lack of help from Congress will threaten recovery, minutes show POWER REAL ESTATE Pg. 20. Recent U.S. Homeownership Gains Driven by Latin Americans Pg. 22. The Pandemic Threatens the Already Vulnerable Affordable Housing Crisis Pg. 24. Luxury home sales rise 41.5%, making biggest jump since 2013 4
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POWER LEGAL Pg. 46. CARES Act: Considering 401(k) Withdrawal Because of Unemployment Due to COVID-19 Pandemic? Pg. 48. The Election and a Fresh Obamacare Challenge Loom over New Supreme Court Term Pg. 52. Do You Need a Real Estate Attorney? POWER MORTGAGE Pg. 54. Considering a home purchase in retirement? Here’s how to get a mortgage Pg. 56. CFPB issues new marketing services agreement guidelines POWER COMMUNITY Pg. 58. US election 2020: What date is it, how does it work and what are the key swing states? POWER HEALTH Pg. 62. November, the Lung cancer awareness month THE POWER IS NOW MAGAZINE | NOVEMBER 2020
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NATIONAL EVENTS: NAREB 2020 ANNUAL NATIONAL CONVENTION (VIRTUAL) November 04, 2020 HOMEOWNERSHIP FOR VETERANS November 07, 2020
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FROM THE EDITOR is made up, In fact, my wife and I had a debate one night where we discussed all the propositions, and although I couldn’t agree with some of the recommendations, I had to make a decision. Right now, I’m sure of who I want for president and our local mayor here in Riverside, California. I want to take this opportunity to encourage you to go out and vote. It’s so important that we exercise our democratic right to vote. Everyone should vote. Voting is our voice as to who we want our leader to be both at the national and the local levels. So folks, let’s go out and vote.
N
ovember is finally here with us. The most anticipated November election countdown elapsed. I do not know about you, but I cannot wait for it to be over; I mean, with all the politics, the fun, and the crazy moments that we have witnessed all through the four years of this administration… seeing a new face would not hurt! Right now, I’m just looking forward to seeing a new administration, and do not get me wrong here; I think you’ll agree with me that the nation needs a president who is hands-on with the current health economic crisis. Anyway, I do not want to get into many details about the elections; I could go on and on. Just in under 48 hours, you have a decision to make! Choose carefully! I said I don’t want to get into politics, but let’s delve a bit; I want a new administration to steer us through the next four years. And the elections came at such an opportune moment because we cannot continue living like this. The next quarter will be challenging because a vaccine is yet to come, more so almost every county is reporting a spike in the number of Covid Cases. And while other nations are serious about this virus, America continues to downplay it. Look at what Borris did, a four-week lockdown until England gets on top of this issue. I do not know about you, but my mind
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Enough with politics! Well, the year is almost over, just one month to go! I can already start to smell the festive season! Wow, what a year, amid the Covid-19 pandemic, and yes, there’s a lot we could complain about, but I am not going to that, folks. I will take this chance to express my gratitude for the support and efforts of everyone. Last month, I announced new shows and magazines to cover the West and East Coast separately. And we did it. The Power Is Now Magazine now comes in East, West, and Central editions. If you thought that this was it, well, I got news for you! We are expanding to cover Hispanics. Besides a new show dubbed The Power Is Now Real Estate Roundtable or El Poder Es Ahora, we will launch our magazine in Spanish in the coming year. All to make sure that you do not miss a thing. The new shows that will be hosted by our VIP Agent, Adriana Montes, who, by the way, is on our cover this month. Adriana is such a passionate real estate agent from Florida and will be an asset not only to us but also to you. Make sure you tune in to our shows every week to learn and interact with Adriana. We will never cease to pursue our commitment to advocate for
THE POWER IS NOW MAGAZINE | NOVEMBER 2020
homeownership and wealth-building and financial literacy for low to moderate-income and minority groups. Moreover, this issue is dedicated to keeping you informed and entertained at the same time. Make sure you read through to catch some of the fascinating stories this month, including how a group considered a minority is driving homeownership gains in the U.S. Also, don’t forget to check how to get a mortgage when you want to own a home during retirement. Lastly, don’t forget to check informational tips and pieces of advice from our VIP Agents, who are best at what they do.
Conclusively, I want to remind you once again that the real estate market right now is at its best, like some are calling it the corona bonus. If you’re planning to buy real estate, whether as a first-time homebuyer, an experienced homebuyer, or an investor, this is the best time to buy a home. We don’t know what is going to happen in the near future. It would be best if you take action now when all the odds are favorably aligned.
Eric Lawrence Frazier, MBA CEO and Founder The Power Is Now Media, Inc.
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6/29/2020 3:03:55 PM
CALIFORNIA GOV. SIGNS ORDER BANNING SALE OF GASOLINE-POWERED CARS BY 2035
Climate change has been a burning issue for the longest time now. As time moves, the situation is worsening due to the continued exploitation and pollution of the environment by human activities. The Federal government and the local governments have been putting in place different measures that are geared towards reducing or eliminating environmental pollutions through emission. With the recent persisting wildfires caused by adverse climatic conditions, this was the best time when a change is desperately needed.
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he latest environmental development from California has dealt a huge win to the climate action in the state and the nation at large. California is set to phase out the sale of all gasoline-powered vehicles by 2035, in its efforts to be at the frontline in reducing greenhouse gas emissions. This is after California Gov. Gavin Newsom signed an executive order on September 23, banning the sale of gasoline-powered cars by 2035. The move is meant to encourage the state’s drivers’ transition to electric vehicles and amounts to the most aggressive clean-car policy in the U.S.
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The move bans the manufacture and sale of new gas cars and trucks past 2035. However, it does not bar the owning of such vehicles and selling them on the used-car market. “This is the most impactful step our state can take to fight climate change,” Gov. Newsom said in a statement. “Our cars shouldn’t make wildfires worse — and create more days filled with smoky air. Cars shouldn’t melt glaciers or raise sea levels threatening our cherished beaches and coastlines.” Gov. Newsom also expressed his support on the
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a challenge that has landed in court. Elsewhere, a spokesperson with the Institute for Energy Research, a think tank that often supports the fossil fuel industry, cited the move by Newsom as “another silly distraction from real problems.” “Driving cars is not what causes forest fires or makes them worse,” David Kreutzer, a senior economist at the institute said. “If people want to drive electric cars, they’ll buy them. You don’t have to eliminate the competition.” “Electric cars might not have emissions at a tailpipe, but they do have emissions at the power plant,” he adds. RECENT EFFORTS. This is not the first time California is on the headlines for their efforts to reverse the adverse climatic damage through zero-emission. In January 2018, the then California governor, Jerry Brown signed an executive order that set targets of setting up 200 gas stations and 250,000 electric vehicle chargers to support 1.5 million zeroemission vehicles on California roads by 2025. Since then, the number of electric vehicles being sold in California has been on the rise.
motion targeting to ban petroleum fracking and called on the state’s legislature to push for that change. With wildfires becoming the new norm in the state, Gov. Newsom cites fighting climate change as an emergency. OPPOSITION. Regardless of the significance of any law or policy, it must be faced with opposition. California’s efforts have run afoul of the Trump administration. This is after the Trump administration sought to revoke California’s authority to mandate zero-emission cars,
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Gov. Newsom’s executive order was praised by the California-based Coalition for Clean Air and expressed their commitment to helping in its full implementation. “The Governor’s Executive Order is a meaningful step in addressing the climate crisis and protecting the health of Californians,” the coalition stated in an email addressed to NPR. “Electrifying transportation will also create jobs and help California move forward in its economic recovery.” Work cited. https://www.npr.org/2020/09/23/916209659/californiagovernor-signs-order-banning-sales-of-new-gasoline-carsby-2035.
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AS WILDFIRES RAGE, CLIMATE EXPERTS WARN: THE FUTURE WE WERE WORRIED ABOUT IS HERE
S
ince the early 1990s and even before, climate experts have been trying to warn the world against the continued environmental pollution. They have been warning the world that a day would come when human beings will suffer the wrath of Mother Nature due to the continued environmental pollution and plunder of natural resources. Since the beginning of 2020, massive wildfires have been slowing engulfing most parts of the U.S., Australia, and Siberia. The gigantic wildfires have already sent hints of how climate change threatens to destroy ecosystems around our planet. As 2020 took its course, huge wildfires, something that has never been seen before, broke out in Australia, scorching more than 65,000 square miles, an area larger than Illinois. Fast forward to July, wildfires fuelled by an intense Arctic heatwave swept across Siberia. In recent months, dozens of catastrophic wildfires have swept large regions of western U.S., including Prichard’s home state of Washington. Millions of acres engulfed by flames across California, Oregon, and Washington, leaving a trail of 36 deaths. Susan Prichard, a forest ecologist, and a research scientist at the University of Washington, who has been studying the connection between wildfires and climate change since the early 1990s, has made it clear that global warming significantly contributes to longer and more intense fire seasons around the world. This raises the questions; could this be the future experts have been warning us about? Could it be too late?
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“What strikes me is that the future we were really worried about and that us climate scientists talked about for decades, we’re living through that now,” Prichard said. According to climate experts, in a warming world, devastating wildfires like those occurring now are likely to be more frequent and more destructive. This destruction comes with enormous environmental, financial, and health impacts on the communities affected. “Individual things like a bad hurricane season, bad flooding or bad wildfires are not that surprising because literally every climate scientist predicted these things would happen,” said Sarah Perkins-Kirkpatrick, a senior research associate at the Climate Change Research Centre at the University of New South Wales in Australia. “But seeing all these things happen in one year — in some cases, simultaneously — is shocking and does make me worried about what the next 10 years are going to look like.” The wildfires have occurred thousands of miles apart and in different continents, but they feature some similarities, according to Mike Flannigan, the director of the Western Partnership for Wildland Fire Science at the University of Alberta in Canada. Wildfires in the U.S. and Australia started earlier than normal amid persistent drought conditions, Flannigan said. Lightning also played a key role in starting fires in Australia and California.
the plant, but as global warming worsens, the atmosphere tends to pull out moisture out of leaves more efficiently, and the forest floors, leaving dry leaves and trees that fuel the fires, according to Flannigan. With no precipitation to compensate for the fast loss of moisture from leaves and trees, ideal conditions for a wildfire are created. Up to now, research and studies have already shown that climate change is increasing wildfire activities and lengthening wildfire seasons. So the key cause of the current supercharged wildfires is climate change, which calls for climate actions. We’ve been told before that this would happen, nothing changed. Now that we’ve seen it’s real and it can be worse, that should be enough of a wake-up call. The time for climate action is now. We should remember that if we completely mess up the climate, the only species that will be the wiped from the face of the earth is us, and the planet will regrow again.
Work cited. https://www.nbcnews.com/science/environment/ wildfires-rage-climate-experts-warn-future-we-were-
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FED VICE CHAIR, CLARIDA SAYS ECONOMY NEEDS ‘PERHAPS ANOTHER YEAR’
TO RETURN TO PRE-PANDEMIC LEVEL
T
he impacts of the COVID-19 pandemic have torn down most of the economic sectors in the U.S., which nearly led a recession. Most of the businesses were significantly affected, leading to laying off of millions of Americans. The pandemic, which many thought would be a minor disruption of normalcy, persisted through from the beginning of the year and is predicted to go on into 2021. When the adverse impacts of the pandemic were at the peak, the government took a bold step by slowly reopening the economy in between May and June.
“That said, the Covid-19 recession threw the economy into a very deep hole, and it will take some time, perhaps another year, for the level of GDP to fully recover to its previous 2019 peak,” Clarida told the Institute of International Finance. “It will likely take even longer than that for the unemployment rate to return to a level consistent with our maximumemployment mandate.”
Since the reopening, the economy has been recovering at a slower than predicted. And from the look of things, the economy will take longer than expected to recover by half at least, leave alone going back to the pre-pandemic level.
Since the reopening of the economy, 11.4 million jobs have been brought back. Despite this, the U.S. unemployment rate has remained at 7.9% in September. “The global economy is going to look a lot like the U.S. It’s going to take some time to recover from this shock,” Clarida said. “So far so good in terms of the recovery, but a ways to go not only in the U.S. but globally.”
A recent development from the Fed has revealed that the U.S. economy will need another year, or maybe more to get back to the level of activity equal to the pre-pandemic period, according to the Fed Vice Chairman Richard Clarida.
Clarida cited that the Fed sees activity continuing to improve gradually after a sharp third-quarter recovery, and cautioned that the outlook ahead is highly uncertain and subject to the developments from the pandemic.
Clarida further noted that policy moves by the Federal Reserve and Congress had offered significant aid in stimulating economic activities such as buying properties, cars, and investing in software and equipment.
Work cited. https://www.cnbc.com/2020/10/14/clarida-says-us-economyneeds-perhaps-another-year-to-return-to-pre-pandemic-level. html.
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S
ince the U.S. economy was gradually reopened a couple of months ago, it has been showing signs of recovery. Millions of jobs have been brought back, as millions of businesses across the nation resume operations. At the same time, millions of other Americans still remain unemployed as the pandemic continues to persist. At the same time, money from the government stimulus packages is slowly drying up from people’s pockets. While all this is dawning on the unemployed Americans, the Fed officials have begun raising concerns from the threat posed on the economic recovery process. The officials are worried that a lack of another round of fiscal stimulus is a huge threat that would jeopardize the process of economic recovery that is moving faster than expected, according to minutes released on October 7, 2020, from the bank’s September meeting. In the September meeting, members extensively discussed the economic outlook, as they cited the economy was doing better than expected in good part due to the fiscal help provided by Washington. The minutes outlined the recovery in GDP as that point as being “rapid.”
FED OFFICIALS WORRIED THAT LACK OF HELP FROM CONGRESS WILL THREATEN RECOVERY, MINUTES SHOW 18
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The fiscal help from Washington is currently in jeopardy as talks between the White House and congressional Democrats have broken down and are likely not to resume before the November elections. “Many participants noted that their economic outlook assumed additional fiscal support and that if future fiscal support was significantly smaller or arrived significantly later than they expected, the pace of the recovery could be slower than anticipated,” the meeting summary stated. According to officials, small businesses
THE POWER IS NOW MAGAZINE | NOVEMBER 2020
and farmers received so much support that saw them regain more jobs than expected through August. For that reason, “the absence of further fiscal support would exacerbate economic hardships in minority and lower-income communities,” the minutes said. During the meeting, members also moved to incorporate recent changes on the Fed’s approach to inflation, and what it would take to justify rate hikes in future. Markets have been seeking for enhanced forward guidance on what particular benchmarks the FOMC would deploy as criteria. However, members agreed that the new language indicating a target of inflation averaging above 2% for a period of time would be enough. “Most participants supported providing more explicit outcome-based forward guidance for the federal funds rate that included establishing criteria for lifting the federal funds rate above the [current level near
zero] in terms of the paths for employment or inflation or both,” the minutes said. “However, with longerterm interest rates already very low, there did not appear to be a need for enhanced forward guidance at this juncture or much scope for forward guidance to put additional downward pressure on yields.” In the past, the Fed had described its inflation target as being “symmetric,” meaning that it would go above or below the 2% target. The new description makes it more straightforward that the Fed is targeting at least 2% inflation. Work cited. https://www.cnbc.com/2020/10/07/fed-minutes. html#:~:text=Federal%20Reserve,Fed%20officials%20 worried%20that%20lack%20of%20help,will%20threaten%20 recovery%2C%20minutes%20show&text=Federal%20Reserve%20officials%20at%20their,aid%20would%20 decrease%20or%20disappear.
Moreover, reports indicate that those who moved to the U.S. more recently are less likely to become homeowners. Perhaps, this explains why the homeownership rate among the first-generation LatinAmericans, which is at 46%, is lower than other generations (50%). Latin-Americans of Spanish origin holds the highest homeownership rate at 63%, while those from Dominican origin have the lowest at 29%.
RECENT U.S. HOMEOWNERSHIP GAINS DRIVEN BY LATIN AMERICANS
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n recent years, the U.S housing market has been pretty interesting, not to mention the 2020 one. Zillow’s housing data has shown that homeownership among the Latin-Americans has recorded more gains than any other group. Approximately 18% of the American population identifies as Latin. Yet, this considerably small number has accounted for more than 60% of new U.S. homeowner gains over the past decade. That growth has pushed the Latin homeownership rate to 48.9%, the highest level recorded since 2008. In the context of the housing bust during the Great Recession, when Latins suffered a large blow, the Latin homeownership growth in recent years becomes more striking. Reports have revealed that less than 10% of all U.S. homes are in Latin communities, while at the same time, 19.4% of all homes foreclosed between 2007 and 2015 were in the same neighborhoods. ”While Latin households have made recent gains in ownership, longstanding inequities in intergenerational wealth and other systemic barriers continue to impede Latin-Americans from reaching parity with the U.S. population as a whole,” says Manny Garcia, population scientist at Zillow. ”Latin home buyers are more likely to face challenges during the process, with financing the purchase often reported as a primary concern. Even within the Latin community, wealth inequality could help explain the varying homeownership rates of people of different origins.” Far from the recent gains, the Latin homeownership rate continues to fall behind more than 10% points behind the Asian, Native, Hawaiian, and Pacific Islander households’ rates, and 25% behind non-Latin white households. This is majorly attributed to the disparities in household wealth. A typical Latin household earns about 75% of a typical white household as of 2018, but that typical white household had more than eight times the overall wealth amount. 20
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Latin homebuyers are more likely to be buying a home for the first time, with 56% reported buying their first home, compared to 43% of buyers overall. However, first-time homebuyers face greater financial hurdles as most don’t have access to equity from previous home purchases to cater for a down payment and almost always finance their home purchase with a mortgage. Moreover, Latin homebuyers get denied by lenders at a higher-than-average rate, with 60% citing their concerns about qualifying for a mortgage at all. To become homeowners, Latin homebuyers more often pause other milestones due to the financial burden. 28% of Latin homeowners than average have reported that the cost of buying a home delayed led to delayed marriage plans. The reported gains driven by LatinAmericans comes amid growing homeownership racial disparities. The disparities are attributed to the same root causes, such as redlining and systematic discriminatory practices, whose solution could be the establishment of fair and just systems that do not discriminate against anyone. Work cited. https://www.worldpropertyjournal.com/realestate-news/united-states/miami-real-estate-news/ real-estate-news-latin-homeownership-data-for2020-zillow-housing-data-latin-home-buyer-reportcurrent-home-prices-12173.php#:~:text=About%20 18%25%20of%20the%20U.S.,the%20highest%20 level%20since%202008.
THE POWER IS NOW MAGAZINE | NOVEMBER 2020
THIS VETERAN HAS EXPERIENCED ENOUGH.
HE SHOULDN’T HAVE TO FIGHT HOUSING DISCRIMINATION BECAUSE OF HIS DISABILITY. Sergio lost his leg and his hearing while serving our country overseas. Now back home, he was ready to start a new chapter in his life. But when he found the perfect apartment, the landlord refused to make a reasonable accommodation to allow his service dog in a “no pets” building. Then Sergio learned that the Fair Housing Act protects people with disabilities. He contacted HUD and filed a complaint. Today, Sergio is feeling right at home. If you believe you’ve experienced housing discrimination, please contact
hud.gov/fairhousing 1-800-669-9777 50 YEARS OF OPENING DOORS. A public service message from the U.S. Department of Housing and Urban Development in cooperation with the National Fair Housing Alliance. The federal Fair Housing Act prohibits discrimination because of race, color, religion, national origin, sex, familial status or disability. For more information, visit www.hud.gov/fairhousing.
THE PANDEMIC THREATENS THE ALREADY VULNERABLE AFFORDABLE HOUSING CRISIS
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he current housing market is already facing low inventories, whose persistence poses a possible threat to affordable housing efforts since demand is increasingly growing. On top of that, the ongoing pandemic doesn’t seem like it will stop any time soon. This is a perfect storm that could exacerbate the already vulnerable affordable housing crisis. Even before the pandemic, the housing supply was already a cause for concern. The GAP report published by the National Low Income Housing Coalition in late last year revealed that there was a shortage of seven million affordable homes for low-income households at or below the poverty guidelines, or 3% of the area median income. The ongoing pandemic is further pressuring these issues. Jay Parsons, vice president of multifamily optimization and deputy chief economist at RealPage, a property management software company, predicts that the total apartment supply will remain high through 2021 due to the pipeline of projects that were approved and underway during the pre-pandemic period. Parsons also cautions that the pipeline of projects is thinning out, and there could be a massive drop-off of completions by 2022. “COVID and the economic uncertainty from it have made it more challenging to get new development deals done,” Parsons stated. “Affordable housing is an even bigger challenge. There is woefully insufficient government support for building and maintaining affordable housing nationally. Developers can’t build affordable housing without government support. And the local, state and federal governments all seem to support affordable housing more in theory than in reality.”
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THE POWER IS NOW MAGAZINE | NOVEMBER 2020
WHAT EXPERTS SAY.
Most economists across the political scale agree that the best solution for the housing affordability challenges is to generate more housing supply. But until there is a serious commitment to avail funds to support affordable housing, these affordability challenges will always exist. “It doesn’t matter what side of political aisle you are on, we have a system that does not adequately fund affordable housing and we try to pass the buck to property owners and developers, but unfortunately it just doesn’t pencil out,” Parsons said. “Developers cannot afford to do it without significant government support. When the rubber meets the road, it’s more about state and local government, and they are unwilling to change.” Elsewhere, Allen Feliz, industry principal for affordable and public housing at MRI Software, a cloud-based property management software company, cites that there’s a lot to worry about. State and local budgets can’t provide soft funding, whereas affordable housing projects require plenty of soft funding—lack of soft funding could result in a massive strain.
CITY BUDGETS.
Some experts were predicting that affordable housing projects should be provided for by the city budgets. However, the ongoing pandemic has significantly destabilized city budgets. Chicago had to revisit its 2021 budget after falling short of $1.2 billion this year as a result of the pandemic and civil unrest. Houston is struggling with a $169 million shortfall, Seattle has fallen short of $200 million while Pittsburgh used its entire reserve fund to settle bills and is now facing a $100 million deficit. These are only a few examples from all the cities affected countrywide. Moreover, a survey by the National League of Cities revealed that nearly 90% of the 485 cities that responded are expecting to lack the ability to WWW.THEPOWERISNOW.COM
meet their community’s financial needs this year compared to last year.
WHAT CAN BE DONE?
Many are left wondering how the situation could be balanced with the supply and demand pulling in opposite directions. Feliz cites that experts are working to boost the flexibility of the federal Low-Income Housing Tax Credit (LIHTC) program by increasing the annual tax credit allocation by at least 50% and working to enact a minimum of 4% housing credit rate to raise each tax credit’s equity. “We need advocacy, creative solutions and bipartisan support to prop up the existing resources that we have, including LIHTC, the Rental Assistance Demonstration and other rental subsidy programs,” Feliz says. “To help close the affordable housing supply gap, some state policymakers are employing creative adaptive reuse solutions. For example, California has responded to the pandemic by working at local levels to convert hotels into housing, using FEMA money and federal funds and superseding local laws to create housing and leverage philanthropic dollars.” Such solutions mark a good start, but as Parsons states, “All the good things that are happening are taking place at a very small scale. We need big ideas. Big solutions. Adding hundreds of units isn’t enough. We need to talk about adding millions. There are a lot of micro solutions, but they aren’t sufficient.”
Work cited. https://www.forbes.com/sites/jennifercastenson/2020/10/12/ the-pandemic-threatens-the-already-vulnerable-affordablehousing-crisis/#19f95996393d.
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LUXURY HOME SALES RISE 41.5%, MAKING THE BIGGEST JUMP SINCE 2013
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he 2020 housing market has been setting different records in all market segments, from highs to lows. We’ve experienced all-time high home sales, pending sales, historically low mortgage rates, low housing inventory, and, most recently, the all-time luxury home sale growth, all in the same year, without forgetting the ongoing pandemic. A new report from Redfin has revealed that sales of luxury homes inclined by 41.5% in the third quarter of 2020, setting a record for the most significant jump since 2013. As luxury homes sales skyrocketed significantly, sales from mediumpriced homes increased only 3%, while affordable homes sales dropped by 4.2%. “The luxury housing market normally takes a hit during recessions as wealthy Americans tighten their purse strings, but this isn’t a normal recession,” Redfin Chief Economist Daryl Fairweather stated in the report. “Remote work, record-low mortgage rates and strong stock prices during the pandemic are allowing America’s wealthy families to gobble up expensive houses with home offices and big backyards in the suburbs,” Fairweather said. “Meanwhile, scores of lower- and middle-class Americans have lost their jobs or are still renting in the city because they’re essential workers and have to commute into work, so they’re unable to reap the benefits of homeownership.” During the third quarter of 2020, the median sale price of luxury homes was recorded at $862,700, the median price for expensive homes was at $402,000, medium-sized was $259,000, affordable homes was $178,000, while the median price for the most affordable homes was at $90,000. Moreover, the luxury home market was the only segment with increased inventory. According to Redfin, the inventory of new luxury homes for sale increased by 8.4% from the same period last year. 24
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Meanwhile, the inventory of expensive homes for sale declined by 2.6%, medium-sized homes for sale dropped by 7.9%, affordable homes declined by 7.6%, while the most affordable homes for sale inventory fell by 4.8%. Most of the increase in luxury homes was from the west coast buyers, particularly in Sacramento, C.A., where luxury home sales inclined 86.1% year over year, compared to 49 of the most populous metros. Interestingly, the median home sale price for luxury homes in Sacramento was $1.2 million in Q3. On the top of the list of luxury home-sale growth are two other California metros; Riverside and Oakland, at 62.8% and 60.9%, respectively. Additionally, Oregon increased 60.6%, same as West Palm Beach, Florida au 59.7%. On the other hand, there were only two metros where luxury home sales dropped in the third quarter, according to Redfin. Philadelphia declined by 8.2%, while Nassau County, New York, dropped by 2%. According to Fairweather, “Luxury listings are skyrocketing because high-end homeowners have the financial means and the flexibility to move during this pandemic… The growing supply of luxury homes for sale means that wealthy buyers have more options to choose from and a better chance of finding a home that checks all of their boxes. Meanwhile, buyers who are in search of more affordable homes are grappling with fewer choices and fierce competition.” Such positive reports, such as the growth in luxury home sales and many other reports from the housing market, are positive indicators of the recovering economy. Work cited. https://www.housingwire.com/articles/luxury-home-salesrise-41-5-making-biggest-jump-since-2013/#:~:text=In%20 the%20largest%20increase%20since,homes%20actually%20 declined%20by%204.2%25.
THE POWER IS NOW MAGAZINE | NOVEMBER 2020
JPMorgan Chase makes a $30 billion Pledge to Help Close America's Racial Wealth Gap
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he racial wealth gap in America has been a topic of discussion for decades, if not centuries, and has been a source of tragedy for American minorities. Reports from decades ago show the wealth disparities that have been existing between White Americans and minority communities, such as the AfricanAmericans, while recent reports continue to reveal that the gap is only increasing. The racial wealth gap has been majorly attributed to redlining and systematic discrimination against certain minority communities in the U.S that has ensured that the minority groups in America, such as the African-Americans, do not get equal opportunities as the whites. Most recently, the question of racial inequality in the U.S was taken to a whole new level after the May 25 death of a black man, George Floyd, at the hands of police officers. This incident sparked months of protests across the nation and internationally. Moreover, the ongoing pandemic further exposed the racial disparities in sectors such as health care that led to a higher COVID-19 mortality rate among the African-American community compared to the overall population. Amid all the reports and cases of the evident racial wealth gap in America, it's disheartening
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that the system or the administration does very little or nothing at all. However, there have been several records of the private sector intervening in the situation in efforts to reduce or close the growing racial wealth gap in America. Most recently is the case of intervention by JPMorgan Chase, which is making a $30 billion pledge targeted to address the American wealth inequality, particularly in the traditionally underserved Black and Latino communities. The bank’s commitment is a combination of loans, investments, and philanthropy spreading over a period of five years, that it says stretches beyond what it would do in the normal course of business. “Systemic racism is a tragic part of America’s history,” said Jamie Dimon, CEO of JPMorgan, in a statement. “We can do more and do better to break down systems that have propagated racism and widespread economic inequality, especially for Black and Latino people. It’s long past time that society addresses racial inequities in a more tangible, meaningful way.” According to the bank’s press release, the goal is to “drive an inclusive economic recovery, support employees and break down barriers of systemic racism.”
THE POWER IS NOW MAGAZINE | NOVEMBER 2020
HOUSING A significant amount of JPMorgan’s pledge is set to go to housing. From the $30 billion pledge, $14 billion will be given in loans and investments to boost the creation of 100,000 affordable rental units in underserved communities. The New York-based financial giant will also originate 40,000 home purchase loans for Black and Latino households, adding $8 billion worth of mortgages to its pledge. The bank will also help 20,000 additional African-American and Latino-American customers lower their mortgage payments with $4 billion it will set aside for refinancing. Moreover, the bank said that the $12 billion in additional mortgages is calculated on the basis of the firm’s 2019 mortgage volume for minority communities. That is what the bank will use as a default rate for loans it will offer for the next five years. SMALL BUSINESSES Additionally, the bank pledged to provide 15,000 loans worth $2 billion to minority-owned small businesses in Black and Latino neighborhoods and launch a new entrepreneur coaching program. Moreover, it pledged to spend an additional $750 million on African-American and Latino-American suppliers.
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LOW-COST BANK ACCOUNTS The bank also said that it would provide 1 million Americans in underserved areas with access to low-cost bank accounts, accompanied by opening branches in low-to-moderate income communities. Additionally, regarding its 256,710 workforce population, the bank stated that it would hold managers accountable for diversity targets by incorporating goals into compensation decisions. Philanthropy. Lastly, the bank pledged to provide $2 billion in philanthropy. This is an expansion of its previous $1.75 billion five-year commitment made in 2018 for the same purpose. Conclusively, let’s believe that the commitments made by JPMorgan Chase will address the systematic rot that has caused discrimination against the minority Americans for decades. Let’s hope the bank's intervention will significantly impact millions of families in the underserved communities for the better. Work cited. https://www.cnbc.com/2020/10/08/jpmorgan-chase-makes30-billion-commitment-to-help-close-americas-racialwealth-gap.html.
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UNITED WHOLESALE MORTGAGE ROLLS OUT “GAMECHANGING” MOBILE APP FOR BROKERS
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echnology is changing everything in the real estate market. From offering solutions for long-known problems to increasing the speed of transactions in the housing activities. As of now, you can easily close a sale at the comfort of your home or wherever you are, you can shop for a home without having to leave your office, and many more. As we head to the future and the technology continues to advance, we don’t know what to expect. But one thing is certain; things are getting better and easier, thanks to technology. Most recently, days after the United Wholesale Mortgage (UWM) announced its intention to go public in Q4 at a valuation of $16.1 billion, Mat Ishbia, its CEO unveiled a new technological tool on September 25, citing that it’d come with “game-changing flexibility” to brokers. UWM unveiled the UWM InTouch mobile app, which will allow brokers to virtually handle all the aspects of the lending process, including underwriting and clear-to-close, without using a desktop computer. 28
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The UWM InTouch app will enable brokers to instantly lock or extend loans. It will also allow brokers to submit, review, and monitor changes of circumstances, upload and check cleared conditions or invoices, and create and manage client requests. “With UWM InTouch, we once again made things faster and easier for our clients. Brokers need more flexibility and freedom than ever before, and this app delivers on that,” said Ishbia. “No matter where brokers are, whether they’re traveling, at a soccer game or out to dinner, UWM is easily accessible. Their loans don’t have to stop moving just because they’re not in front of a computer.” According to Ishbia, the app has been in development for about a year, adding that it was under testing in recent months by a few select brokers. When asked about the product’s market competition, he says, “Nobody else has an app... We are without a doubt the leader, and we’ve done things each year to innovate to the next level.” The app comes with unique features, such as allowing iPhone users to use the Siri voice recognition tech to check a loan’s status even when driving. UWM InTouch will also keep direct phone numbers and emails, which will enable brokers to easily get in touch with borrowers and UWM staff. OTHER UWM PRODUCTS United Wholesale Mortgage has been at the forefront of producing real estate market technology material in recent years. Some of their other products include Brand 360, which is a customizable tool for client management that powers various marketing products; Unite, a personalized email consisting of information about the borrower’s home, their loan, and the possibility of market changes; Client Request, a service portal that quickly resolves issues; and UConnect, which tracks brokers’ previous clients and alerts them when they’re back in the market. Work cited. https://www.housingwire.com/articles/uwm-rolls-out-gamechanging-mobile-app-for-brokers/.
THE POWER IS NOW MAGAZINE | NOVEMBER 2020
YOU DESERVE TO LIVE SAFE FROM SEXUAL HARASSMENT.
Sexual harassment by a landlord or anyone related to your housing violates the Fair Housing Act. If you receive unwelcome sexual advances or are threatened with eviction because you refuse to provide sexual favors, you may file a fair housing complaint. To file a complaint, go to
hud.gov/fairhousing or call 1-800-669-9777 If you fear for your safety, call 911.
FAIR HOUSING IS YOUR RIGHT. USE IT. A public service message from the U.S. Department of Housing and Urban Development in cooperation with the National Fair Housing Alliance. The federal Fair Housing Act prohibits discrimination because of race, color, religion, national origin, sex, familial status or disability. For more information, visit www.hud.gov/fairhousing.
SELECT A VIP AGEN Adrian Bates Los Angeles
Adriana Montes Florida
Ameer Elahee Fontana
Cornelous Jackson Irvine
Danon Burnside San Bernardino
Denise Matthis San Diego
Emerick A. Peace Maryland
Eric Hooks SF Bay Area
Jenny Gonzalez Corona
Jerel Washington New Jersey
Joe L. Fisher Richmond
Johnnie Morine Texas
Julius Cartwright Ohio
Kamesha Keesee Corona
Kenneth Session Bay Area
Briana Frazier Los Angeles
NT IN YOUR AREA Monica Hill Menifee
Peggie Simmons Arizona
Robert Langston Fairfield
Steve Peterson Oakland
Success Money LA Area
Yvonne McFadden Arizona
Ruby Frazier Riverside
EMERICK A. PEACE
#320004 240-882-0198 EmerickPeace@KW.com Your #1 Referral Source for Phenomenal Service in Washington, DC & Maryland
BALTIMORE, MD Real Estate Market Trends & Analysis
Emerick A. Peace
B
altimore is a city in Maryland that looms large in American history, having been occupied as early as the 15th century and remains one of the largest colonial-era cities in America. A few years back, Baltimore was thought of as a distant suburb of Washington, D.C, and an industrial city on the decline. However, most recently, the city is experiencing a turnaround that is presenting a unique opportunity for real estate buyers. The Baltimore 2020 real estate market has featured various properties for buyers looking for a place to call home and investors looking to flip and invest in real estate. Let’s have a look at the recent Baltimore housing market trends.
HOME VALUES
According to Zillow Home Index Value, the typical home value of homes in Baltimore was $156,106, as of September 30 (This value is seasonally adjusted and only includes the middle price tier of homes). The value of home values in Baltimore as of September 30 represents a 3.5% increase from last year. Meanwhile, Zillow predicts that the home value will increase by 6.6% by the same time next year in Baltimore.
LIST PRICE
According to Movoto, the median list price in Baltimore in October was $208,099, representing a less than 1% increase from WWW.THEPOWERISNOW.COM
September, which was $204,950. Moreover, the median list price per square foot in Baltimore was $157 in September and $158 in October. Moreover, distressed properties such as foreclosures and short sales in October maintained the same position compared to September, according to Movoto.
SINGLE-FAMILY UNITS
The total inventory of single-family units in Baltimore increased by 9% in October from September and decreased by 56% from a year ago. Despite the increase in inventory in October, it can still not meet the current housing demand in Baltimore.
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The median list price for single-family units was $259,999 in October, representing a 5% decline from a month ago and an 8% increase from a year ago. This indicates that home prices are still high in Baltimore due to the high demand and low housing inventory in the market.
Total Inventory Median List Price % Distressed Median Home Size Median $/Sqft Source: Movoto.com
October 2020 235 $259,999 0% — 154
September 2020 214(+9%) $275,000(-5%) 0% 1,961-100% 155
1 Year Ago 535(-56%) $239,000(+8%_ 0% 1,885-100% 139+10%
CONDO/TOWNHOMES. The median list price for condo/townhomes was $180,000 in Baltimore in October, representing a less than 1% increase from a month ago and a 12% increase from a year ago. The October condo/townhomes housing inventory in Baltimore decreased by 3% from September and 68% from a year ago.
Total Inventory Median List Price % Distressed Median Home Size Median $/Sqft Source: Movoto.com
October 2020 849 $180,000 1% 1,405 161
September 2020 878(-3%) $179,000 1% 1,437(-2%) 158(+1%)
1 Year Ago 2,700(-68%) $160,000(+12%) 1% 1,424(-1%) 142(+13%)
If you’re looking for an affordable location with high potential for return on investment, consider Baltimore. Also, you’re looking for a suitable place to call home, Baltimore is the best option. Work cited https://www.zillow.com/baltimore-md/home-values/. https://www.movoto.com/baltimore-md/market-trends/.
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THE POWER IS NOW MAGAZINE | NOVEMBER 2020
Adriana
MONTES
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he Power Is Now continues to lead the conversation about real estate for home ownership, wealth building, and financial literacy for low to moderate-income and minority communities in the U.S. Regarding this, we continue to stretch further to include the minority groups in the conversation to progress together. In the latest efforts to include the minority groups in the U.S., we present to you the new Hispanic Homebuyer Townhall and Real state Roundtable online radio and TV shows, courtesy of The Power Is Now, or rather El Poder Es Ahora. The two shows will be hosted by our VIP Agent Adriana Montes, representing the Orlando area. Adriana is a broker/owner of Florida Realty Group. Adriana is originally from Cali, Colombia, and moved to the U.S in search of safety and better opportunities.
ADRIANA’S PAST LIFE AND EDUCATION
Adrian came to the U.S when she was 18 years old, with her mum and sister fleeing from kidnapping threats to her family from guerrillas back in Colombia. On arriving in the U.S, she enrolled in English classes at the University of Central Florida, where she later graduated in 2003. At the same time, she was working with Alamo Rental Cars as a salesperson. She then started her Bachelor’s Degree in Finance and Marketing at UCF. Due to her excellent grades, her bachelor’s degree program got a scholarship from Alamo Rental Cars. After graduating, she obtained her mortgage license and left Alamo to work with a mortgage company where she learned how to originate loans. She fell in love with the job, and one year later, she obtained her real estate license and opened her own mortgage company, Door to Your Dreams Mortgage. Her dream to have a group of companies related to finance compelled her to open Door To Your Dream Financial Services later on.
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Adrian is also a firm believer in the fact that real estate is the best means to accumulate wealth and achieve financial stability. With her team of REO professionals, Adriana is passionate about what they do and are driven to offer superior services to their clients. As a dynamic group of real estate experts, they are always on the lookout for ways to be more educated and updated on current legislation to serve their sellers and buyers better.
ACHIEVEMENTS. Her desire and a strong belief in education compelled her to further her studies by obtaining her Master’s in Business Administration (MBA) in 2008, which she specialized in Non-profit Organizations due to her desire to give back to the community. Moreover, Ariana’s desire to keep her grandfather’s legal legacy and offer her clients value by providing legal advice compelled her to enroll to get a Juris Doctorate Law Degree.
Adriana has sold over 1500 homes in her entire real estate career and generated over $300 million in sales volume. In the last decade, she has always been among the Top 20 Latino Agents in NAHREP’s Top 250 every year. Her most recent achievement was being awarded position 20 Latino Agent in 2020, having recorded 61 sales in 2019.
REAL ESTATE CAREER
Adriana is a fearless, resilient, and determined realtor with over 20 years of experience in the real estate business. Adriana has been an active player and a leader in the real estate market. She operated a radio show in a Hispanic radio station for ten years, where she promoted homeownership, addressed issues concerning real estate.
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Adriana seeks to be a voice of power, and a source of motivation to business owners, entrepreneurs, women, Latinos, and anyone who is chasing their dreams.
THE POWER IS NOW MAGAZINE | NOVEMBER 2020
HOW IS THE NJ HOUSING MARKET 2020 DOING?
Jerel Washington
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uring the early stages of the COVID-19 pandemic, reports revealed that the pandemic was slowing down the NJ housing market. After the NJ Governor had referred to real estate activities as essential business, local buyers and sellers hesitated on making any move as they waited to see how the pandemic would impact the economy. Many sellers pulled their homes off the listings while others postponed sales due to the fear of having buyers visit their homes.
But since the reopening and gradual recovery of the economy, NJ’s housing activities have been on the rise since June, as reports show. Records have shown that all aspects of the housing market, including new listings, pending sales, and closed sales, have been rising this spring. All indicators have been clearly showing that buyers are back in the market.
HOME VALUES
According to the Zillow Home Value Index, the typical home value of homes in NJ was $357,546 as of September 30. The home index value is seasonally adjusted and only includes the middle price tier of homes. The NJ home values have increased by 5.3% from September 2019, and Zillow forecast they will increase by 7.2% in the next year. Moreover, data from CoreLogic’s Case-Shiller Index reveals that home values in seven metro areas in New Jersey have significantly inclined compared to the previous year as of May 1, 2020. These metro areas include; Ocean City, Jersey City, Camden/Philadelphia, Trenton, Atlantic City/Hammonton, Warren County/ Allentown, and Vineland/Bridgeton areas.
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LOW HOUSING INVENTORY
Although new listings in the NJ housing market have been on the rise since the economy was reopened, the housing stock still remains significantly low. The supply of homes for sale in NJ was 41.0% lower as of June 2020, compared to the same time last year. According to New Jersey realtors, this trend has been recorded across the entire U.S and not just in NJ. Some sellers are still hesitant to list their homes as they still fear the uncertainties caused by the pandemic, especially as the local and national coronavirus cases continue to rise.
If you’re planning to buy real estate in New Jersey, this is the best time to do so. The mortgage rates are so low, creating a friendly condition for home buyers. Before you invest in the NJ market, I’d also advise you to keep an eye on the local economic developments to make a fully informed decision.
IS IT A SELLER’S MARKET?
As housing supply remains low and demand continues to climb higher, the NJ housing market 2020 has displayed itself as a very hot seller’s market. More buyers are chasing very few available homes for sale. The situation is expected to remain that way even as we go into 2021. Some of the best markets to invest in 2020 in New Jersey include; Trenton, Middletown, Union, Cherry Hill, North Bergen, and Manchester markets.
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Work cited. https://www.zillow.com/nj/home-values/. https://medium.com/mashvisor/how-is-the-nj-housing-market2020-doing-aff37a440c7d#:~:text=With%20low%20supply%20 and%20demand,2%25%20less%20than%20list%20price.
CARES ACT: CONSIDERING 401(K) WITHDRAWAL BECAUSE OF UNEMPLOYMENT DUE TO COVID-19 PANDEMIC? by Donnell Stidhum
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he effect of the COVID-19 pandemic lockdown is felt far and beyond. The lockdowns and quarantines that were necessary to curb the spread of the virus slowed the economy with unprecedented force and speed. Businesses racked up losses, and layoffs and pay cuts followed. With increasing rate of unemployment, many families are struggling to meet their day to day expenses. If you are facing financial hardship due to COVID-19, you may have considered making a 401(K) withdrawal early to cover your expenses. I’ve broken down all the steps to complete this process in a 30 minute webinar you can access here
59 1/2, withdrawing from a 401(k) is a costly proposition because you are charged a 10% penalty on withdrawn funds. The recently introduced CARES Act changes that. This means you can make COVID-19 related withdrawals of up to $100,000 from your retirement account without incurring this penalty on early withdrawals. Although the removal of this penalty takes off one of the substantial burdens of taking out the money from a 401(k) early, raiding your retirement accounts is still be a costly proposition because you lose out on the compound interest your money would’ve earned if it had stayed invested.
Financial experts do not recommend taking money out of your retirement accounts early, but now taking into consideration the present economic scenario, most of them say that if you must, you should, as a last resort.
So, early 401(k) withdrawal is now penalty-free, but is it completely tax-free? No.
In the wake of the coronavirus pandemic, President Donald Trump signed the CARES Act on March 27, 2020, providing more than $2 trillion in financial relief for businesses and workers affected by the pandemic. If you are considering a 401(k) withdrawal, there are certain things you need to know.
WITHDRAW MONEY OF UP TO $100,000 WITHOUT PENALTY Under normal circumstances, if you’re under
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INCOME TAXES APPLY TO THE WITHDRAWAL AMOUNT, BUT THE REPAYMENT CAN BE STRETCHED OUT OVER THREE YEARS
Withdrawing money from your 401(k) will still have tax consequences. Regardless of how old you are, when you take out money from your retirement account, you will be taxed as normal. But the CARES Act allows you to stretch the repayment of the taxes over three years instead of paying the entire amount this year. This arrangement provides some financial relief as the taxes can be substantially large, even without penalties.
THE POWER IS NOW MAGAZINE | NOVEMBER 2020
CAN YOU PUT BACK THE WITHDRAWN MONEY OVER THE NEXT THREE YEARS?
Yes. If you’ve taken a coronavirus-related distribution, the CARES Act allows you to put the money withdrawn back into the account over the next three years. The money that you put back will not be counted against your annual contribution limits, and hence you will not be liable to pay any income taxes on that. But, if you are unable to repay the borrowed amount due to financial constraints over the next three years, income taxes will be applied.
YOU MAY HAVE THE OPTION TO MAKE AN EARLY 401(K) WITHDRAWAL, BUT SHOULD YOU DO IT? The best way to determine whether you should take an early retirement distribution is to check if you have enough money to cover your living expense for the next 3 to 6 months. If you don’t and you find it difficult to manage these costs, then you should consider taking advantage of this.
However, before you decide to take this step, think of the bigger picture. You are raiding into your retirement savings and losing out on money that would have accumulated due to compound interest if you would have let it stayed into your account. So, before taking this drastic step, always look at other sources of income or options. You can also consider taking help from a tax professional or financial planner to weigh the pros and cons of withdrawing from retirement accounts. For expert help, Contact Self Directed Retirement Plans LLC Donnell Stidhum at (816) 916-0039. In addition, for more specific details related to the CARES ACT and how it impacts your retirement dollars jump in this FREE 30 Minute Webinar at www. selfdirected.info . Schedule a time to take this FREE class to help you access $400K of YOUR retirement dollars.
T H E E L EC TI ON A ND A FR E S H OBA MA C ARE CHA L L EN G E L OOM OV E R NEW S UP R E M E CO UR T TER M
O
bamacare is not a new or unfamiliar word amongst Americans. It is a term used alternatively for the Patient Protection and Affordable Care Act (ACA) of 2010. This act is aimed to reduce the cost of Healthcare for those who can’t afford them. Its introduction has helped many Americans who can’t afford quality Healthcare access such service at a more affordable price. Therefore, middle-class and lowclass Americans don’t have to spend so much before accessing the quality Healthcare they desire. However, as the US election is fast approaching, there seems to be a fresh Obamacare Challenge Loom over the new supreme court term. A case will be argued a week after the election, and the outcome of the argument will determine whether Obamacare remains or not. There have been two challenges in the past regarding the Affordable Care Act, and the outcome of those challenges were 5-4 and 6-3. Thus, it remains. Should the argument be lost this third time, it may be an end to Obamacare.
WHY THE ARGUMENT?
Obamacare was introduced under the Barack Obama administration, but it is now being challenged by the Trump administration and a coalition of red states. They argue that three years ago, the Republican Congress zeroed out the monetary penalty for Americans not covered by insurance. Therefore, the whole law should be void.
WHAT IS THE IMPLICATION OF ABOLISHING OBAMACARE?
If your illness requires expensive treatment, you may be affected by the repeal. One of the purposes of Obamacare is to help people who need costly treatment get such treatment without paying much.
According to Ben Sommers, a professor of health policy
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the coverage, but it will be optional. Other sets of people who may lose their coverage are those with pre-existing conditions. Insurance companies will be allowed to deny coverage for anyone with pre-existing conditions. They may also decide to charge higher premiums. When this happens, it’ll become difficult for people to afford coverage. If your illness requires expensive treatment, you may be affected by the repeal. One of the purposes of Obamacare is to help people who need costly treatment get such treatment without paying much. Hence, repealing the act will mean that people will have to fend for their full payment by themselves. For instance, if not for the ACA, 165 million people in the US suffering from conditions like hemophilia or cancer would have been required to pay hugely for their treatment, which many may not be able to afford. In that case, patients will face two options, with the first being to go bankrupt or stop the required treatment. and economics at Harvard University, Obamacare impacted every portion of the health-care system. Thus, if the whole act is void without a better replacement proposal, there may be confusion and chaos in the system.
WHO’LL BE AFFECTED IF OBAMACARE IS REPEALED?
Under Obamacare, employee’s children below 26 years are covered by the employers of their parents. Thus should the act be repealed, young adults covered by their parents may lose their coverage. Perhaps you don’t know how many young adults we’re talking about. It was reported in 2016 that there are two million young adults who are covered under their parent’s plans. However, should the law be repealed, some employers may continue offering
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Nonetheless, as the election is knocking at the door, and the argument to determine whether the Obamacare act should remain or not is also fast approaching, Americans are waiting to see the outcome. However, If it is repealed, there’s a likelihood of it being replaced by another act to ease the medical affairs of Americans. On the other hand, if it is repealed and not replaced with a better plan, then the above implications are some of the consequences Americans will have to face. References https://en.as.com/en/2020/10/15/latest_ news/1602789409_116559.html https://www.npr.org/2020/10/05/919704165/the-electionand-a-fresh-obamacare-challenge-loom-over-new-supremecourt-term
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lives and fulfill their dreams by fully embracing their indvidual abilities and interests. With 24-hour specialized care and staffing, we provide comfortable, secure homes and recognize that everyone feels a sense of belonging when they have familiar places in which to spend time with family and friends.
There
is a true sense of family at Peppermint Ridge. Of the 94 adults who
live at The Ridge, 38 have lived here for more than 20 years, with 10 of those calling The Ridge home for 40 years or more. Residents have the opportunity to flex their muscles of independence while developing rich lives of their own away from their loved ones. About 30% of our residents have no family, so other Ridgers and our staff have become their family.
Many
caring companies, organizations and individuals in
the community enjoy getting to know The Ridge by helping on small projects, hosting fundraisers, lending a hand at events, volunteering in our office, and assisting residents in activities such as arts and crafts, pool days, horseback riding, music and piano lessons, and exercise classes.
825 Magnolia Ave • Corona CA 92879 • 951.273.7320 www.PeppermintRidge.org • Tax ID: 95-2409851
www.StopHigherPropertyTaxes.org
Split-Roll Property Tax Measure Hurts Immigrant and Minority Communities
Background: Prop 13 Has Helped All Californians for More Than 40 Years •
For more than 40 years, Prop 13 has provided certainty to homeowners, farmers and businesses that they will be able to afford their property tax bills in the future. Under Prop 13, both residential and business property taxes are calculated based on 1% of their purchase price, and annual increases in property taxes are capped at 2%, which limits increases in property taxes, especially when property values rise quickly.
Split-Roll Property Tax Measure Destroys Prop 13 and Makes Our Economic Crisis Worse •
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Amid an unprecedented economic crisis, special interests submitted petitions to qualify a measure for the November 2020 statewide ballot that will destroy Prop 13’s property tax protections and will be the largest property tax increase in California history. The measure will raise taxes on commercial and industrial property by requiring reassessment at current market value at least every three years. This type of property tax is known as a “split-roll tax” because it splits the property tax roll, assessing business property differently than residential property. We should reject this measure and maintain Prop 13 protections that have kept property taxes affordable and provided every taxpayer who buys a home or business property with certainty that they can afford their property tax bills in the future. Now is not the time to raise taxes and bring more uncertainty to businesses and all Californians.
Gentrifies Our Longtime Communities •
A split-roll property tax will provide a huge financial incentive for local governments to approve business projects to replace existing housing so they can receive higher property tax revenue. It will also push small minority- and immigrant-owned businesses out of our communities when they can’t afford the higher property taxes. This unintended consequence will intensify the gentrification already occurring in much of the Bay Area and Southern California coastal counties.
Hurts Small Businesses and Consumers •
Most small businesses rent the property on which they operate. The measure’s higher property taxes will mean soaring rents at a time when the federal and state government is trying to provide small businesses with rent relief to keep their doors open. Ultimately, the measure’s tax hike on businesses will get passed on to consumers in the form of increased costs on just about everything people buy and use, including groceries, fuel, utilities, day care and health care.
Hits Minority-, Immigrant- and Female-Owned Businesses the Hardest •
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Small businesses are already struggling. This measure will make it even more difficult for them to reopen their doors or stay in business as a result of this economic crisis. Increasing property taxes on businesses by up to $12.5 billion a year will hurt female- and minority-owned businesses the most and 120,000 jobs will be lost, according to a Berkeley Research Group study. Voters are being asked to consider a measure that will only increase job losses at a time when millions of Californians are applying for unemployment benefits. According to the latest data from the Harvard Business School, about 42% of new companies are founded by immigrants in California and the most recent 2012 Survey of Business Owners by the Census bureau found that 5% of businesses in the state are owned by African Americans. Additionally, the California Latino Economic Institute found that nearly one-quarter of all businesses in California are owned by Latinos, and they are the fastest-growing component of the state’s economy. Most of these businesses start small and stay small, meaning they often rent their property and are subject to higher rents when property taxes increase. In the most recent 2012 Survey of Business Owners by the Census Bureau, 38% of all non-publicly traded businesses were owned by females and another 9% were owned equally by females and males.
Increases the Cost of Living for Everyone and Makes the Homelessness Crisis Even Worse • •
In 2019, US Housing & Urban Development data showed California led the nation with more than one-quarter of the country’s homeless population. California’s cost of living is already among the nation’s highest. We shouldn't do anything to make it even more expensive to live here. The split-roll measure will only increase homelessness and make life more difficult for Californians already living paycheck-to-paycheck.
Homeowners Are Under Attack • If businesses lose their Prop 13 protections, homeowners will be next. Supporters of the measure even admitted
that this initiative was the first step in a plan to end Prop 13, which could mean skyrocketing property tax increases for all California homeowners.
Ad paid for by Californians to Save Prop 13 and Stop Higher Property Taxes, sponsored by California homeowners, taxpayers, and businesses Committee major funding from Western Manufactured Housing Communities Association California Business Roundtable California Taxpayers Association Funding details at www.fppc.ca.gov
DO YOU NEED A REAL ESTATE ATTORNEY?
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here’s nothing wrong with trying to minimize the money you spend on investment to maximize your profit. However, there are some crucial things you should consider spending on if you don’t want to lose your investment. One such thing is a real estate attorney. Perhaps you hold the ideology of doing everything yourself without involving a third party. However, when it comes to real estate investing, such an ideology can be catastrophic. Hiring a real estate attorney can cost you thousands of dollars, but it’s worth it. If you’re still wondering whether to hire a real estate attorney or not, you should consider the following reasons why you need one:
FOR CLARITY
Before you sign any document in your dealings, you must understand every word and phrase in it. Otherwise, you may just be signing your trouble. However, there may be some legal terms you can’t understand in the documents, not because you’re not smart but because you’re not an attorney. The job of your attorney, in this case, will be to go through the document on your behalf and ensure that you understand everything stipulated therein. Some terms or phrases may mean something ordinarily but can mean another thing from a legal perspective. Your real estate lawyer is a professional in the field; thus, they’ll ensure the terms are well defined to you before you agree to get into the contract.
EXPERIENCE
Perhaps this is not your first real estate 52
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dealing. However, even with that, you can’t be more experienced than a real estate lawyer. They must have handled more real estate deals than you’ll ever get into in your lifetime. They understand the state and local laws. Your experience may only be restricted to your deals, but for a real estate attorney, they’ve dealt with multiple clients and handled a variety of properties. Therefore, if you want to mitigate any risks that could result in delay or jeopardize your investment, you must seek the legal support of an experienced real estate attorney.
PROTECTING
A real estate attorney will be actively involved in the negotiation process. You can allow them to handle the negotiation process fully. That way, not only will you be saving yourself time and stress, you’ll also be protecting yourself and your family. Doing it yourself can land you in trouble. A real estate lawyer, on the other hand, is skilled and can walk you through the complications of estate investment. They’ll also protect and safeguard you from troubles you cannot foresee yourself. With an excellent legal counsel, you can put your mind at rest, knowing verily that your investment is safe and protected.
SAVINGS
Many have lost their life savings to fraudulent dealings. Often, such people are those with the “I can do it myself” ideology. In the name of minimizing the amount spent, they end up losing their entire investment. Thus, to avoid losing your investment, you may want THE POWER IS NOW MAGAZINE | NOVEMBER 2020
to consider hiring a real estate attorney. It is no gainsaying that you’ll be required to spend extra on hiring such an attorney, but the amount you’ll pay will be nothing compared to if you were to lose your entire investment. Attorneys are experts; hence, they can identify fake real estate deals and warn you before you get into it. If you don’t want to lose your life savings on property investment, you should consider hiring a real estate attorney.
PROPERTY TRANSFERS
If one or of the two parties, or the two parties involved are corporations, partnerships, or trusts, the deal is usually more complicated. In this regard, you may not be able to handle the contract preparation and negotiation yourself successfully. An attorney is knowledgeable; thus, knows how this sort of arrangement works. They will, therefore, ensure that the contract aligns with the law and the corporation’s, partnership’s or trust’s charter agreements. They’ll go through the terms and conditions of the contract and compare it with the constitutions of all the bodies involved. If it doesn’t align with the values any of the parties stand for, they’ll make it known WWW.THEPOWERISNOW.COM
from the onset. This will help to avoid troubles that may result in tarnishing the contract before closure.
CLOSING
After walking you through a successful transaction, a real estate attorney will prepare your closing documents formally. They’ll ensure that all required parties, including the seller, buyer, witnesses, and the lawyers attest to the documents. That way, you can be sure that there’s no trouble as far as the deal is concerned. Should the seller raise an objection against you in the future, you already have a legal backup — the signed closing documents to prove that they attest to the sale of the property and terms and conditions were entirely accepted by the two parties. Can you now see why you need a real estate attorney? References https://www.legaltyservices.com/5-reasons-need-realestate-attorney/ https://www.investopedia.com/articles/mortgages-realestate/08/real-estate-attorney.asp
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Are you considering a home purchase in retirement? Here’s how to get a mortgage
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f you’re a retiree thinking about downsizing or moving to a different area, and the process involves home buying, the first thing to consider is how you’ll finance it. Often, a mortgage is the best option for many. However, you realize that qualifying for a mortgage currently differs from the last time you used it. Indeed it is different. Lenders have tightened credit during this pandemic period. Also, Al Bingham, a mortgage loan officer with Momentum Loans in sandy, Utah, states that it can be tricky for retirees to get a mortgage. “You can have a lot of money but show very little income and have difficulty qualifying for a mortgage,” Bingham said. “It frustrates a lot of them.” Therefore, for a retiree looking to buy a home through a mortgage, it is crucial to strategize and plan ahead. Qualifying for a mortgage based on income. The most common way for retirees to qualify for a mortgage is based on one’s income, according to a certified financial planner, Daniel Graff, a principal and client advisor at Sullivan, Bruyette, Speros & Blayney in McLean, Virginia. Mortgage lenders will go through your last two years’ worth of tax returns, which may also include Social Security, pension income, dividends, and interest. In a case where one’s taxable income is not enough to qualify for the mortgage loan, a retirement account such as a 401(k) plan or individual retirement account is included. You have to create enough cashflow using all means available to meet the income requirements. The general idea is to get as many distributions to help you qualify for the mortgage, even if you don’t need the money. As long as you’ve attained the age of 59.5 and above, you can tap your IRA or 401(k) without attracting the 10% early-withdrawal penalty. Apart from verifying the required income from different distributions, lenders also want to be certain that the distributions can continue for at least three more years, according to Graff. 54
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Alternatively, a retiree can qualify for a mortgage based on their assets in a brokerage account or IRA. The lender will only apply a formula to the money in their account using 70% of the account’s value and determine if it can stretch long enough to cover mortgage payments for the life of the loan. “In this scenario, the underwriter is not looking directly for a taxable transfer from an IRA to a bank, but a statement of assets that allows [the lender] to be comfortable that a certain amount could be withdrawn each month,” Graff said.
ANOTHER NON-MORTGAGE LOAN OPTION
In a case where you completely don’t qualify for a mortgage or don’t want to finance through a mortgage, you can use the “pledge assets” option. This is where you take a loan against your brokerage account, up to a limit, and buy the home. ”You’d be considered a cash buyer for purposes of the contract with the home seller,” Graff said. “There isn’t a mortgage happening at that point because, in actuality, you’d be taking the loan against your brokerage account.” You can acquire a home more quickly through this option since there would be no underwriting process and other costs associated with mortgages. From there, you could go back to using the traditional mortgage options after acquiring the home. According to Graff, if you refinance within six months of the purchase, you could put a mortgage in place to pay off the loan, and it would not be considered a cash-out refinance, which is harder to get. You can try the options highlighted above if you want to get your retirement home quickly.
Work cited https://www.cnbc.com/2020/10/03/how-to-get-a-mortgagewhen-considering-downsizing-in-retirement.html.
THE POWER IS NOW MAGAZINE | NOVEMBER 2020
CFPB ISSUES NEW MARKETING SERVICES AGREEMENT GUIDELINES On September 11, the MBA, along with other associations including the American Land Title Association, the NAR, the National Association of Home Builders, and the Real Estate Service Providers Council sent a letter to CFPB Director Kathy Kraninger requesting that a 2015 Richard Cordray bulletin concerning Marketing Services Agreement (MSA) be withdrawn and replaced “with a reassertion that the real estate industry should follow long established best practices under RESPA and associated case law.” The 2015 bulletin raised many concerns from the mortgage industry about not having clear guidelines on what was permissible.
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ccording to Justin Wiseman, MBA’s associate vice president, the request by the MBA and associates was the most recent of the various efforts undertaken over the past few years to get the CFPB to change its position on MSAs regulatory council. Recently, the bureau pulled its previous guidance on whether MSA complies with anti-kickback rules. In a FAQ post, the bureau stated that the agreements do not violate Section 8 of the Real Estate Settlement Procedures Act. Despite the FAQ not changing much on a practical level, it represents a change in attitude by the bureau from when it was headed by Richard Cordray, whose bureau never illegalized MSAs but instead expressed some degree of hostility towards them. 56
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What is not permissible in an MSA according to CFPB’s FAQ. An agreement to pay for referrals. • • • •
Payment for services over reasonable market value. Agreement where services are not performed or are nominal. The payments are duplicative. The agreement is structured to disguise kickbacks or split charges.
“Eliminating that 2015 bulletin was the best thing that came out of this, even if nothing changed on a practical level,” said Mitch Kider, the chairman and managing partner of Weiner Brodsky Kider, who represented PHH Mortgage in a major challenge to the CFPB’s authority on MSA compliance. “That bulletin was not based on the law itself and deviated from a 2010 Department of Housing and Urban Development interpretation on MSAs.” “It is very helpful to the industry and gives them a clear message of what the issues are surrounding Section 8 and how to, at least preliminarily, analyze some of those issues,” Kider said of CFPB’s recent post. THE POWER IS NOW MAGAZINE | NOVEMBER 2020
More importantly, “no new law is being made with these FAQs,” he adds. “That bulletin was not a compliance guide that lenders could use, but a statement of concerns … only some of which actually involved MSAs,” said Holly Spencer Bunting, a partner with Mayer Brown law firm. “Now we have in place FAQ guidance that lays out the exceptions to RESPA as it relates to MSAs, and it is consistent with the PHH decision.” Moreover, the bureau’s FAQ will also impact insurers, real estate brokers, and warranty providers.
bulletin,” Wiseman said, adding that RESPA’s statutory language does allow for MSAs under certain regulatory contexts. “This move highlights that title and settlement professionals need to be on their toes when analyzing marketing services agreements,” said ALTA CEO Diane Tomb in a statement. “Section 8 of RESPA can be confusing and lacks clarity. We appreciate the bureau’s effort to produce compliance materials to help the industry work through these issues with specific fact patterns.”
NON-COMPLIANCE
The bureau warned that it would go after MSAs violators and promised vigorous enforcement in a blog post. “The bureau is very clear that they will enforce the rules as they have been understood prior to the WWW.THEPOWERISNOW.COM
Work cited. https://www.nationalmortgagenews.com/news/cfpb-issuesnew-marketing-services-agreement-guidelines. l
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USWHATELECTION 2020: DATE IS IT, HOW DOES IT WORK, AND WHAT ARE THE KEY SWING STATES?
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he US election is one of the most internationally observed elections. It is, in fact, one of the most critical elections in the world. This is because it, directly and indirectly, influences world peace and security. It also has a significant impact on the world’s economy. The United States is a superpower, and the US president is often regarded as world president. Though the US president can’t dictate what world leaders should do, they are powerful and influential. As the US election is fast approaching, there are a couple of questions on the lips of people across the world. The US election is unique and differs from the electoral processes practiced by most countries around the globe. Thus, to better understand how the is election works and predict who’ll likely emerge winner, some of the questions people often ask are:
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• • •
How does the election work? What are the swing states? What date is it?
These are some of the questions you’ll find answers to as you read down the lines of this article. So, let’s get the ball rolling.
WHAT DATE IS THE US ELECTION?
In the United States, elections are scheduled for the first Tuesday in November of every four years. This date can fall between November 2 and November 8. It is just a day, and on that day, there’ll be a public holiday across the country. Popular ballots will be held on that day to select public officials. The officials include national, state, and local government representatives, including the president. Hence, considering the guides mentioned above in THE POWER IS NOW MAGAZINE | NOVEMBER 2020
which the date is selected, the 2020 election will be held on Tuesday, November 3, 2020. That will be the 59th quadrennial presidential election in the United States. However, considering the Coronavirus pandemic looming over the world, there’s a possibility for the election to be delayed. Technically speaking, a delay is possible because the election date in the US is not written anywhere in the constitution. Nonetheless, the constitution provides a date for the inauguration for the newly elected president, which is January. More so, if we’re to weigh the likelihood of the election being delayed, one will see it is unlikely. This is because the power to change election dates isn’t in the hand of the president but the hands of the US congress. The democrats are the majority in the house of Representatives, which is one of the two chambers. So, even if the Republicans in the Senate are in favor of the delay, the Democrats in the representative will likely not support. Hence as it stands, the election will probably hold on Tuesday, November 3, 2020, as stated earlier.
HOW DOES THE ELECTION WORK?
In the United States, elections into the office of president and vice president are indirect. It is not the citizens’ votes, otherwise called General votes, that directly dictate who becomes the president and vice president. Instead, the general votes are meant to select presidential electors called the electoral college. Members of the Electoral College will then vote on December 14, 2020. Their vote will determine whether the
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incumbents Donald Trump and Mike Pence remain in office or are replaced by a new president and vice president. Therefore, if a candidate has more votes in the general vote but lost in the electoral college, he has lost the election. For a candidate to be considered winner, they must have the highest vote in the electoral college (at least 270 out of 538) even if they have the least vote in the general vote. This is practically seen in the last election when Donald Trump has more votes in the electoral college than Hillary Clinton, who has the highest vote in the general election. Donald Trump automatically becomes the president. Thus, who wins the electoral college vote wins the election.
Often, electors vote for whichever candidate wins their state regardless of whether they prefer the other candidate. However, some states allow electors to vote for their preferred candidate irrespective of who wins in their state. Nevertheless, in a situation where no candidate wins the absolute majority of the votes for president, the responsibility of choosing the most qualified candidates then rests on
the shoulder of the house of representatives. More so, if no candidate wins the absolute majority of the votes for vice president, electing the vice president is left to the hands of the senate.
WHAT ARE THE SWING STATES?
The key to winning the US presidential election depends on some specific swing states. There are a couple of swing states in the United States that have been won by both republican and Democrats in the past. These states hold the key to who wins the presidential election. For the 2020 election, some swing states to look out for are: • • • • • •
Arizona North Carolina Florida Pennsylvania Michigan Wisconsin
References https://www.timeanddate.com/holidays/ us/election-day https://en.m.wikipedia.org/wiki/2020_ United_States_presidential_election https://www.telegraph.co.uk/ news/2020/10/18/2020-election-us-datewhen-what-swing-states-how-workcovid/amp/ https://en.m.wikipedia.org/wiki/United_ States_presidential_election
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NOVEMBER, THE LUNG CANCER AWARENESS MONTH
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o you know that one in every six deaths in the world is caused by cancer? Thus, cancer is the second leading cause of death, with the first being cardiovascular diseases. It was reported in 2017 that various forms of cancer kill about 9.6 million people. However, one of the leading cancer killers in both women and men is lung cancer. Before 1987, breast cancer used to be a leading cause of cancer death in women, but lung cancer has taken the lead now. Considering the high death rate of this crazy killer, it is essential to create global awareness. This awareness will help more people know about the killer — lung cancer; hence, do all that’s necessary to avoid it. This is one of the best ways to reduce the number of people with the illness. Thus, November of every year has been chosen to be the lung cancer awareness month. In the spirit of this awareness, there are certain things you need to know about lung cancer.
FIRSTLY, HOW CAN YOU KNOW WHEN YOU HAVE LUNG CANCER? COUGH THAT REFUSES TO GO
A casual cough caused by a cold or respiratory infection should disappear in less than two weeks. On the other hand, if you begin to witness a persistent cough that lingers for weeks, that may be a symptom of lung cancer. Whether the cough is dry or produces mucus, you shouldn’t ignore it when it becomes persistent. You should see your doctor as quickly as possible. If you do, your doctor will run the necessary tests to know if the cough is a symptom of lung cancer or other illnesses.
CHANGE IN A COUGH
You should pay attention to your cough, especially when you smoke. Some of the things you should check include consistent coughing, a deeper cough that sounds hoarse, you’re coughing out excess mucus, or you’re coughing out blood. When you notice any of these symptoms, it’s time to check on your doctor.
CHANGES IN BREATH
Do you find it difficult to breathe after performing some tasks you find easy to do before? Then, you may want
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to book an appointment with your doctor. Such a task may include climbing stairs, slight jigging, or running, among others. Shortness of breath with such an easy task may be a possible symptom of cancer. What happens is that lung cancer may narrow or block an airway. Thus, resulting in shortness in breathing. Fluids from a lung tumor can also build up in the chest, resulting in shortness of breath. Therefore, when you begin to notice a change in your breathing, don’t ignore it; see a doctor.
PAIN IN THE CHEST
Pain in the chest, back, or shoulders may also be an indication of lung cancer. It doesn’t matter whether the pain is dull, sharp, intermittent, or intense; if you notice a sudden chest pain that becomes persistent, you should go straight to your doctor.
WEIGHT LOSS
Weight loss can be a symptom of many illnesses, and lung cancer is not excluded. When you notice a significant reduction in your weight up to 10 pounds or more, you need to see a doctor. It may be a symptom of lung cancer or other forms of cancer. Weight loss is common in cancer patients because the cancer cells tend to use up the body’s energy. Thus, you shouldn’t ignore a significant reduction in your weight, especially if you are not actively engaged in activities to intentionally lose weight. Such weight loss may be a change in your health, and you should pay attention to it.
WHAT ARE THE CAUSES OF LUNG CANCER? SMOKING
Do you know that over 70% of lung cancer cases are caused by smoking? That’s right. Smoking cigarettes is one of the leading causes of lung cancers. If you smoke over 25 cigarettes a day, you’re 25 times more prone to having lung cancer than an average person who doesn’t smoke. There are about 60 different carcinogenic substances in tobacco smoke. Carcinogenic substances are cancer-producing substances. Therefore, to avoid having lung cancer, shun smoking.
RADON
Radon is a radioactive gas that exists naturally. It is obtained from tiny amounts of uranium present in all soils and rocks. Sometimes, it can also be found in buildings. If you breathe in radon, you may be exposed to lung cancer.
EXPOSURE TO CERTAIN CHEMICALS
Some chemicals are carcinogenic, and when you’re
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exposed to them, you may have lung cancer. Among these chemicals are arsenic, beryllium, asbestos, cadmium, silica, coal and coke fumes, and nickel.
HOW CAN YOU PREVENT LUNG CANCER? • • • •
Avoid taking tobacco Avoid Radon exposure Stay away from carcinogenic substances Eat healthy diets, including fruits and vegetables.
Now that you know what lung cancer is, its causes, symptoms, and preventions, you know how to protect yourself from the deadly illness. Thus, in the spirit of lung cancer awareness, you should also create awareness to educate others in your environment to have a cancer-free world. References https://www.healthline.com/health/lung-cancer/earlysigns#weight-loss https://www.lung.org/lung-health-diseases/lung-diseaselookup/lung-cancer/resource-library/lung-cancer-factsheet https://www.nhs.uk/conditions/lung-cancer/causes/ https://amp.cancer.org/cancer/lung-cancer/causes-risksprevention/prevention.html
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HOME OWNERSHIP by Eric Lawrence Frazier MBA
Home ownership brings stability to individuals and families who have never had a dwelling place that they could call their own. There is something special about owning real estate that is unlike anything else on earth you can own. Real Estate you own is not like cars that decay over time and you have to replace them. Real Estate you own is not like clothes that go out of style and you have to buy new ones. Real Estate you own is not like expensive vacations or experiences that only last a moment in time. Real Estate you own is not like an apartment where the landlord may increase the rent until it’s no longer affordable. Real Estate you own is not like staying at your parents house where you know can’t stay forever. Home ownership is the beginning of wealth that increases over time and becomes your estate & legacy Home ownership is the pride of a mother nurturer and the kitchen her domain Home ownership is the pride of a father provider and protector of his territory and family. Home ownership is the foundation of permanence and the place where life happens, birthdays celebrated, deaths mourned. Home ownership is the place you build memories that can never be taken from you. Memories etched in walls and concrete, experienced in rooms and floors, Memories living in trees and shrubs planted by your hand. Howe ownership is the manifestation of you - your style, your colors, your smell, your stuff, your junk, your memories, your yard and your spaces, your life. It’s the height markers on your first child’s bedroom wall. It’s the hearts drawn in the concrete slabs when you pour your patio floor It’s the birthday parties, and anniversaries in the living room and kitchen. It’s the back yard barbecue with friends, neighbors and family contentions it’s the high school and college graduation, and wedding receptions Its’ the family nights and block parties and the fellowship of family connections Home ownership It’s more than real estate. Land, brick and mortar, wood frame construction and chicken wire. It’s more than money saved, gifts recieved and grants obtained It’s more than the debt you incur to buy it. It’s more than the payments you make to own it. It’s more than the appreciation that comes with keeping it over time. It’s memories, it’s family, and it’s life that can happen in one place Until you say it’s time to move.