The Power Is Now Magazine Central Edition | December 2020

DECEMBER 2020 Vol. 07 | Issue 12

DRONE MAPPING IN THE REAL ESTATE Page 28

COVID ROADMAP

and the search for a vaccine Page 36

HELLO CHRISTMAS BUT WAIT “KWANZAA!” Page 58

HAVE YOU READ OUR PAST ISSUES YET? the power is now

magazine CENTRAL EDITION Vol. 07 | Issue 12

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

CONTRIBUTORS The Power Is Now Research Team

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CONTENTS POWER LENDING Pg. 26. Bidden: Here’s my plan for your student loans POWER TECHNOLOGY Pg. 28. Drone mapping in the real estate VIP AGENTS Pg. 32. Texas is still winning. The housing market recorded high numbers in summer 2020

Pg. 36. COVID roadmap and the search for vaccine

Pg. 44.Commercial Real Estate market flounders even as residential market boom POWER GREEN Pg. 8. The United States has formally exited the Paris Climate Accord. What are the impacts?

Pg. 12. Industrial flares and their effects on the environment POWER ECONOMICS Pg. 16. Economic and the political outline of the US. What would the next four years be like?

Pg. 18. Looking deeper into the electionsfrom an economic perspective POWER REAL ESTATE Pg. 20. A deeper look into the housing markets. Where your money should be at!

Pg. 24. Yes! it was a surprising 2020! Can it get any worse than this?

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POWER LEGAL Pg. 48. Bidden’s transition teams: brings in back CFPB players: What does that mean?

POWER MORTGAGE Pg. 52. FHA decision to Approve Classic Fico for Freddie Mac and Fannie Mae. How much does that decision weigh on the housing market?

Pg. 50. CFPB issues new marketing services agreement guidelines POWER HEALTH Pg. 62. Covid-19: Just How close are we to a Vaccine?

POWER COMMUNITY Pg. 58. Hello Christmas…. but wait “Kwanzaa!”

THE POWER IS NOW MAGAZINE | DECEMBER 2020

Every Other Friday

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CALL ME FOR MORE INFORMATION ERIC LAWRENCE FRAZIER MBA (714) 361-2105 eric.frazier@fbol.com www.thepowerisnow.com

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THE POWER IS NOW EVENTS: HOMEBUYER TOWN HALL - 1ST AND 3RD TUESDAY OF THE MONTH 7:00 PM REAL ESTATE ROUND TABLE - 1ST AND 3RD FRIDAY OF THE MONTH 10:30 AM

NATIONAL EVENTS: NAREB NAREB MORTGAGE SERVICES CONFERENCE January 21, 2021

NAHREP FREDDIE MAC – HOUSING AND FINANCE ECONOMIC UPDATE (VIRTUAL EVENT) December 9, 2020 NAHREP NATIONAL CONVENTION & HOUSING POLICY SUMMIT March 8-10, 2021

AREAA AREAA LEADERSHIP SUMMIT 2021 January 13-14, 2020

FROM THE EDITOR destruction of property. The wildfires, hurricanes, and other natural disasters that hit the US this year were like nothing that has never happened in history. Remember the chaotic events that followed the brutal murder of George Floyd by a police officer? The year was eventful, dramatic, and definitely not a walk in the park, folks.

Enough with the flashback. That was only to demonstrate to you how far we’ve come and what we’ve been through this year.

D

ecember is here again, folks. And it’s not just a typical December; it’s the last month of the year 2020. A year that has been unique in all aspects. A year that had a normal start, but everything went haywire somewhere along the way.

2020 has been a year that presented unique pros and cons. But the cons outweighed the pros. Let’s face it, 2020 has been an extremely tough year so far. A year that was ravaged by the deadly COVID-19 pandemic that sent the whole world into inevitable lockdowns.

The economy almost faced a hard crash; millions of people lost jobs, millions of lives succumbed to coronavirus, businesses were temporarily shut down as others bitterly collapsed. Besides the pandemic-related impacts, 2020 also featured extreme natural disasters that led to further loss of lives and

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However, as the saying goes, every cloud has a silver lining. 2020 has had its other side of the coin. To mention a few good things, the real estate market was thriving amid the pandemic, as technological advancements went to another level due to the huge transition from physical office to home office.

This being the last edition for the year 2020, I want to take this chance to express my gratitude to everyone who has been a part of our journey this year. From our VIP Agents, the marketing team, our guests for our shows, to you, the reader, and the viewer. I want to say Thank You. I appreciate all the hard work that everybody puts into making what we do special. You all played a significant role in making 2020 a success, despite the different challenges that came with the year.

Looking back, I’d frankly say that we aren’t where we were at the beginning of the year.

We’ve crossed borders to places where I never thought we’d ever reach. We’ve inspired more, supported more, achieved more, and created more. I love The Power Is Now Media and everything we do for real estate professionals, consumers, and the community at large. As we cross into 2021, I want to urge you to continue being engaged as a member of The Power Is Now

THE POWER IS NOW MAGAZINE | DECEMBER 2020

family. Let’s continue working together and leading the conversation about Real Estate for home-ownership, wealth building, and financial literacy for low to moderate-income and minority communities.

The PIN December Central issue has various exciting and important stories ranging from climate real estate to politics. Read through to find out how the next four years of the US will be like politically and economically. Also, don’t forget to check on how the how close we’re to a COVID-19 vaccine. Lastly, don’t forget to check out the various informative and interesting topics prepared by our VIP Agents this month.

Moving on to 2021, all indicators show that the real estate market will be sparkling with activities. Also, 2021 will be an excellent time to buy a home as far as the latest stats are

concerned. If you missed buying a home this year due to various reasons, don’t worry. You’re not late. 2021 could come bearing incredible opportunities that will facilitate you to achieve the American dream of homeownership. So, hang in there.

Conclusively, I want to take this chance to wish you happy festivities. Enjoy the holidays but don’t forget to stay safe. COVID-19 is still in our midst, so we’re not safe yet. I’m looking forward to the unveiling of a safe and effective vaccine that will sweep the deadly virus from the world. From The Power Is Now family, we wish you a merry Christmas and a happy new year 2021.

Eric Lawrence Frazier, MBA

CEO and Founder The Power Is Now Media, Inc.

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THE UNITED STATES HAS FORMALLY EXITED THE PARIS CLIMATE ACCORD. WHAT ARE THE IMPACTS?

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n June 1, 2017, US President Donald Trump announced that the country would exit from the Paris Agreement and immediately quit implementing the agreement, including implementing the Nationally Determined Contributions (NDCs) and financial contributions.

Two and a half years later, the US formally withdraws from the climate agreement with Mr. Trump citing the agreement as a deal that “disadvantages the US to the exclusive benefit of other countries.” The United States, under the Obama administration, played a significant role in developing the 2015 accord, aiming to limit global warming to below 2C and strengthen the global response to the growing threat of climate change.

pre-industrial levels and aim to limit the increase to 1.5°C, since this would significantly reduce risks and the impacts of climate change. They also agreed on the need for global emissions to peak as soon as possible, recognizing that this will take longer for developing countries; and finally, to undertake rapid reductions thereafter in accordance with the best available science, to achieve a balance between emissions and removals in the second half of the century. All these were mitigations to reduce emissions. With the secondlargest gas emitter exiting from the deal, other countries’ attempts on climate action will be futile.

The US is also a huge and powerful economy

The exiting journey wasn’t a straightforward process. The exiting involved the culmination of a bureaucratic process that began a year ago. The process took so long due to the complex rules and regulations engraved in the agreement to mitigate the possibility that a future US president might decide to lead the country in exiting from the deal.

The makers of the accord had considered all the risks, and the reality is just dawning on them.

The exiting of the second-largest carbon dioxide emitter from the 189-nation agreement comes amid an administration that advocated for the weakening of environmental regulations and showered the fossil fuel sector with support, leaving a trail of more questions than answers.

What impacts is the Trump administration move likely to have on Americans and the world at large?

In the agreement, governments had agreed on a long-term goal of keeping the increase in global average temperature to well below 2°C above 8

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THE POWER IS NOW MAGAZINE | DECEMBER 2020

that represents about 15% of global greenhouse gas emissions. So, when such a country withdraws from contributing to a global solution to climate change, it raises more questions of trust. “Being out formally obviously hurts the US reputation,” says Andrew Light, a former senior climate change official in the Obama era.

“The decision to leave the Paris agreement was wrong when it was announced and it is still wrong today,” said Helen Mountford from the World Resources Institute.

“It’s definitely a big blow to the Paris agreement,” said Carlos Fuller, from Belize, the lead negotiator for the Alliance of Small Island States in the UN talks. “We actually worked very hard to ensure that every country in the world could accede to this new agreement.

And so, by losing one, we feel that basically we have failed.”

On the other hand, there are those who justify the US withdrawal from the accord, citing it’s partly due to the failure of the Obama administration to have the accord ratified by the senate. “What Obama did at the end of his second term was fundamentally undemocratic, to sign up to a Paris agreement without going to the Senate and the Congress and instead doing it via executive order,” said former UN climate chief, Yvo De Boer.

IMPACTS OF THE MOVE.

According to the 2017 “Advances in Climate Change Research” report by Chinese Roots Global Impact, the move to withdraw the US from the Paris Agreement substantially undermines the universality of the agreement, which is the backbone of the global climate regime, better than any other climate change movement ever to happen. Also, the withdrawal leaves a leadership deficiency in global climate governance. Moreover, the US’s withdrawal from the agreement leaves the country with more emission space and lower mitigation costs while compressing other countries’ emission space and pushing up their mitigation costs, which will make it harder and costly to achieve the 20C target of the agreement.

Moreover, the Trump administration move may cost the world a window of opportunity in mitigating climate change. According to research, the next ten years are critical for attaining the Paris Agreement Accord’s objectives. According to the Chinese Roots Global Impact, there’s a need for anthropogenic emissions to peak within the next ten years if we’re to meet the targets without unforeseen and transformative technological advancement.

Seemingly, the US’s withdrawal from the Paris Agreement will have enormous impacts on both the US as a country and the world at large. However, there is hope. During the election campaign period, Joe Biden pledged that he would seek to re-join the Paris Agreement as soon as possible— if elected as President of the US. There’s still hope for America to join in the largest and most organized global climate change movement.

Works cited. https://www.bbc.com/news/science-environment-54797743. https://ec.europa.eu/clima/policies/international/negotiations/paris_en. https://www.sciencedirect.com/science/article/pii/S1674927817301028.

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INDUSTRIAL FLARES AND THEIR EFFECTS ON THE ENVIRONMENT: ENVIRONMENTAL GROUPS FILE A FEDERAL LAWSUIT OVER AIR POLLUTION FROM THESE FLARES

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s we know them, flares are crucial safety devices used in refineries and petrochemical facilities to safely burn excess hydrocarbon, which cannot be recycled, or dangerous organic compounds such as benzene.

But again, on the other hand, we are all aware of the byproducts of combustion, especially flaring, which releases major greenhouse gases such as carbon dioxide and methane. However, the flare technique is effective as a pollution control method only if operated correctly.

All across the US, thousands of industrial flares blaze, burning excess waste gases, releasing smog-forming volatile organic compounds (VOCs), and other hazardous pollutants such as carcinogenic benzene that are a great threat to the surrounding community.

Regarding that, a coalition of ten environmental organizations on October 29, 2020, sued the Trump administration’s EPA over its failure to bring down the growing air pollution from industrial flares from petrochemical plants, gas processing facilities, municipal solid waste landfills, and other industrial sites across the country. The organizations that filed the lawsuit, after sending notices of intent to sue EPA sent on June 11 and August 17, 2020, include; Environmental Integrity Project (EIP), Clean Air Council, Air Alliance Houston,

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THE POWER IS NOW MAGAZINE | DECEMBER 2020

Chesapeake Climate Action Network, Earthworks, Environment America, Environment Texas, Hoosier Environmental Council, PennEnvironment, and Texas Campaign for the Environment.

The federal Clean Air Act requires EPA to review air pollution control standards at least once every eight years to ensure they adequately protect Americans and incorporate technological advancements.

However, EPA has failed to update two sets of air pollution control standards for industrial flares for decades— 34 and 26 years, respectively.

“It’s been far too long since EPA updated these industrial flare standards, and EPA is well aware of the problem,” said Adam Kron, Senior Attorney for the Environmental Integrity Project (EIP). “Time and time again over the past decade, EPA has admitted that flares operating under these outdated standards can release many times more toxic air pollutants into local communities than estimated. This can cause serious harm to public health.”

On the other hand, Joseph Otis Minott, Esq., Executive Director and Chief Counsel of Clean Air Council, said: “There is no excuse for continuing to permit antiquated pollution-controlling technology in new industrial facilities. EPA has a responsibility to protect our air and our health, and it cannot do so while sleeping at the wheel.”

To operate correctly, operators are required to inject steam into flares to prevent them

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from smoking, which leads to the release of only soot or fine particle. However, operators inject far more steam than needed, leading to pollution.

Studies by EPA and other industry players have revealed that over-steamed flares do not burn well, thus release more toxic and smog-forming compounds that should have been destroyed in the combustion process if the flares are operated correctly. On top of that, the current air pollution control standards give operators the freedom to average their measurements over three-hour periods rather than a shorter period, allowing for spikes resulting from the correct operation.

Some of the outdated industrial flares addressed in the lawsuit include flares at petrochemical facilities, gasoline terminals, natural gas processing plants, compressor stations, solid waste landfills, and other large industrial sites. The lawsuit exempted flares at petroleum refineries, which EPA updated standards in 2015, and flares at oil and gas wells, which have a different unique set of standards.

Continued use of outdated standards can lead to the release of vast quantities of air pollution at the local level. An example is the case of a gas processing plant from Texas’ Permian Basin owned by Oxy USA LLC, which reported 136 tons of volatile organic compounds from flares emission in 2017, according to the Texas Commission on Environmental Quality.

I think it’s time EPA takes its role seriously in protecting the environment we live in. additionally, it’s everybody’s obligation to take care of our environment. From corporates, organizations, to you as an individual. A clean environment is good for us all.

Work cited. https://www.earthworks.org/media-releases/environmentalgroups-file-federal-lawsuit-over-air-pollution-from-industrialflares/.

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lot has happened under the Trump administration in the last four years, and a lot is yet to happen in the next four years. The country has witnessed economic and political shifts since Trump came into the White House four years ago. What will the next four years look like?

ECONOMIC AND THE POLITICAL OUTLINE OF THE US. WHAT WOULD THE NEXT FOUR YEARS BE LIKE? 16

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This is a crucial question at a time like this, especially considering the recent event showing the likelihood of a new president come January. Though President Trump is yet to concede defeat; however, there are indications that Biden might be leading the US for the next four years. With a new president comes new policies. Policies are what will shape the future of the US and determine what direction the country will go both economically and politically.

Assuming Biden is sworn in as the new president, what direction will the US economic and political outline travel?

To answer this, one needs to review the Obama/Biden administration.

Obama/Biden came into office in January 2009 at a time of economic crisis. The country was battling with the great

THE POWER IS NOW MAGAZINE | DECEMBER 2020

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recession. About 3.6 million jobs were lost the prior year, with about 800,000 jobs being lost every month.

This was a great challenge for the new administration of Obama/Biden.

in 9 years between 2021 and 2030.

With such an increase in government revenue, more significant projects can be implemented, and the economy can thrive.

The country was also largely segregated based on colors, beliefs, and political ideologies. When Obama/Biden came into power, they bridged the gap, revived the economy, and the country’s activities began to thrive again.

Jobs and wages are also another significant phenomenon in the US economy. If Biden becomes president, he promised to create “millions of middle-class jobs.” He planned to achieve this through his infrastructure plan. Therefore, in the next four years, under the Biden administration, one can expect the creation of more middle-class jobs. In the next four years, the country may witness an increase in the federal minimum wage to $15. This is part of the promise Biden made. This means workers in the United States may begin to earn more than before. If well managed to prevent inflation, there will be enough money in circulation, and the country will thrive more.

Eight years later, in 2017, Donald Trump was handed a thriving economy.

In 2017 alone, about 200,000 jobs were created. As a result of this, the unemployment rate was reduced to a minimum rate of 4.8%.

It is essential to have this sense of history because the expected incoming president was actively involved in history. Thus, history will likely repeat itself. The way the US economic and political outline went under Obama/ Biden can give us a sense of how it’ll also travel under Biden/Kamala.

Today, the US economy is primarily affected by the Covid-19 pandemic, And recovery might take longer if the right policies are not put into place.

Among the economic policies proposed

by Biden is to raise the top income tax rate from 37% to 39.6%. The corporate income tax rate will also be increased from 21% to 28%. Mr. Biden also proposed to apply Social Security taxes to earnings of $400,000 and above.

Foreign subsidiaries of US firms will also have their tax rate doubled to 21%.

HOW WILL THESE AFFECT THE US ECONOMY?

The Tax Policy Center claimed that with Biden’s tax proposals, the US would have a revenue increase of $4 trillion

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Unlike the last four years with Trump praising autocrats and insulting allies, Biden policy might be different. Thus, in the next four years, there may be new political ties between the US and other nations. Strained relationships may be repaired.

America is, therefore, going to witness a new economic and political outline in the next four years provided that Biden is sworn in as president.

References https://www.investopedia.com/comparing-theeconomic-plans-of-trump-and-biden-4843240 https://www.usnews.com/news/elections/ articles/2020-11-13/joe-bidens-economicplan-will-depend-on-path-of-thecoronavirus?context=amp https://uc.xyz/AJGZC?pub=link

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LOOKING DEEPER INTO THE ELECTIONS

FROM AN ECONOMIC PERSPECTIVE I

t looks like the Trump presidency is about to end, considering the outcome of the recent election. Thus, Biden is a step closer to the white house. Whether Trump or Biden, one person will be sworn into office come January 2021 as the US President. However, economic and political analysts have analyzed to know which of the two presidencies will best manage the country in the next four years.

From an economic perspective, several reasons indicate that the Biden and Kamala administration is what America needs at this time of history. If Biden is finally sworn in as President, he would have made history like Bill Clinton in 1922.

Clinton was the last politician to oust an incumbent President when he defeated George Bush to become President himself.

Perhaps, Biden will also make history.

When Clinton ousted Bush, the US economy witnessed a massive development. There was a drastic reduction in unemployment, and the stock market saw a

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significant increase. Under the Clinton administration, the US economy boomed, and the budget deficit was turned into a surplus.

There’s a significant reason for placing the Clinton administration side by side with the expected Biden administration. They have something in common — ousting an incumbent President. The question now is, will history repeat itself from an economic perspective? Will the US also experience an economic boom under the Biden Kamala administration?

When Clinton emerged as President, the US was at a

recovery stage coming from the recession of the early 1990s.

Unfortunately, that is not the case when Biden is expected to go into the white house. The US economy at this time of history has suffered a lot of setbacks under the Trump administration.

The poorly managed economy might get poorer if things are left to continue the way they are.

The economy has been negatively impacted by the Covid-19 pandemic, which keeps growing daily. Although a stimulus package was provided to boost consumer spending and make organizations have enough to keep their business growth in the face of the pandemic;

THE POWER IS NOW MAGAZINE | DECEMBER 2020

WHY IT HAD TO BE BIDEN AND KAMALA unfortunately, the effect is fading already. The US economy, therefore, needs a rescuer who can turn the hands of the clock.

The US economy under the Trump administration has only been working for the minority rich people in the country.

Under his administration, there has been no fair distribution of wealth. The rich got richer while the poor get nothing.

As a Vice President in 2009, Biden oversaw the economic recovery

by Barack Obama. Hence, if he

wins and gets into the oval office, he can utilize his experience to combat the falling economy and put the US back on the path of growth.

However, Biden/Kamala has more work to do than Obama/ Biden did to make a thriving economy. When Obama/ Biden were elected, there were no global crises as the world witnessed today.

Biden/Kamala will, therefore, need to think outside the box.

According to Jared Bernstein

— Biden’s longtime economic adviser, “Biden would be the most battle-tested President to come into office that we’ve ever had in this regard.” He proceeds by saying, “FDR did amazing work on the Great Depression, but he was throwing noodles at the wall. Biden would bring a unique experience to the office, having been the implementer in chief last time.”

Comparing Trump and the supposed administration of Biden, one will see why the US is in dire need of a Biden presidency at this time of history.

If coming from a legislative chamber with little economic management experience, Biden can champion a successful economic recovery as a vice President; he can do better as a President.

References https://theintercept.com/2020/09/01/ biden-economic-policy-us-economy/ https://amp.theguardian.com/ business/2020/nov/08/the-reliefof-bidens-win-will-be-tempered-byeconomic-headwinds ap.business-standard.com/article-amp/ international/bs-reads-economic-tiesto-remain-a-challenge-for-joe-biden-samerica-120111000221_1.html

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A DEEPER LOOK INTO THE US HOUSING MARKETS. WHERE YOUR MONEY SHOULD BE AT!

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he 2020 housing market has been very interesting. As of now, the market remains a hot seller’s market, with annual price growth hitting record highs as inventory continues to plunge. All through the pandemic-induced housing market, homebuyers have been looking for hints of a slowdown in the real estate market that has been a beehive of activities since the economic recovery began.

As of now, there is a dire need for new home supply to boost the inventory and slowdown the skyrocketing home prices.

Asking prices for homes across the country continue to soar higher in double digits, with the first week of November marking the 13th consecutive week of a doubledigit price increase this year. This upward trend of home values shows the strength of the housing market is as it was during the housing bubble. The US housing market’s strength is majorly attributed to the current all-time low mortgage rates, along with low inventory accompanied by high demand.

Home Values.

According to Zillow, seasonally adjusted home values are expected to increase by 2.9% between September and the end of 2020 and incline 7% in the 12 months ending in September 2021. According to Yun, NAR’s chief economist, home prices will likely appreciate 4% in 2020 before moderating to 3% in 2021 as more new supply reaches the market.

As of November 7, weekly housing market trends revealed that median listing prices are still growing at 12.9% from last year, marking the 13th consecutive week of double-digit growth in asking prices. The value of a typical home for sale remained unchanged at $350,000.

HOUSING SUPPLY

In the week ending on November 7, new properties listed for sale dropped 12%, representing the second week of huge 20

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THE POWER IS NOW MAGAZINE | DECEMBER 2020

declines. This setback could be attributed to the increasing COVID-19 new cases. Moreover, the total active listings declined 39% after five consecutive weeks at 38%.

Elsewhere, time on the market for a listing is 13 days faster than last year. The rapid turnover reveals the faster than usual speed of home sales despite the usually slower season.

WILL THE HOUSING MARKET CRASH OR RISE IN 2021?

According to Noradarealestate. com, the US housing market is “far from crashing in 2020 or 2021.” In fact, the housing market continues to be at the frontline of the country’s economic recovery.

The current economic situation resembles a “swoosh” pattern, with the initial impact lockdown due to the pandemic, followed by a gradual recovery as the economy slowly reopens.

In case of a second wave of the COVID-19 pandemic resulting in another shutdown, the “doubledip” or a W-shaped recovery is a possible result. There would be another decline in housing activities, then followed by a period of gradual recovery.

Elsewhere, the Housing Market Recovery Index dropped to 108.0 countrywide for the week ending November 7, down 1.4 points from the previous week, according to Realtor.com’s latest recovery report. The decline comes as everyone turned their attention to the 2020 polls.

For the week ending November WWW.THEPOWERISNOW.COM

14, the housing demand index dropped for the third consecutive week to 113.3, down 6.5 points from the previous week. This shows that the demand-supply imbalance continues to shorten. Although the housing demand is still very high, its rate is expected to slow down in the next few months before it surges back in Spring 2021.

In the same week, the housing supply index also fell for the second consecutive week to 95.9, down 2.7 points from the previous week.

As of now, it’s not clear whether sellers will continue to list properties during winter or they will withdraw once again with the rising COVID-19 cases and the approaching festive holidays.

From all the Realtor.com indexes, it’s clear that things are headed towards a balanced real estate market. Therefore, Realtor.com doesn’t foresee any housing market crash in 2021. With mortgage rates expected to remain historically low, 2021 is still going to be a good time to buy real estate.

WHERE YOUR MONEY SHOULD BE AT

If you’re looking to buy real estate, it would be best to buy it from the best and hottest real estate markets. According to Realtor.com’s Market Hotness Index, which measures time-on-the-market and listing views per property, the east coast accounts for most of the top ten zip codes, which are as follows: The 2020 Hottest ZIP Codes in America by Realtor.com

Zip Name

Views per property Y/Y (%)

Median days on market

Median listing price ($)

Rank

Zip code

1

80911

Colorado Springs, CO

38

13

287,000

2

43068

Reynoldsburg, OH

69

17

204,000

3

14617

Rochester, NY

44

18

162,000

4

2176

Melrose, MA

14

19

644,000

5

4106

South Portland, 5 ME

21

377,000

6

66614

Topeka, KS

99

19

184,000

7

3051

Hudson, NH

45

22

350,000

8

1602

Worcester, MA

45

21

318,000

9

22152

Springfield, VA

41

7

553,000

10

27604

Raleigh, NC

81

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Work cited. https://www.noradarealestate.com/blog/housing-marketpredictions/#:~:text=The%20median%20sales%20price%20of,at%20the%20 current%20sales%20rate.

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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.

YES! IT WAS A SURPRISING 2020!

CAN IT GET ANY WORSE THAN THIS?

I

n 2020, we’ve witnessed a house-hunting bonanza gripping millions of Americans, along with the strength and flexibility of the housing market. In the same year, we’ve had the COVID-19 pandemic wreaking havoc everywhere, millions have lost jobs, the economy has grown weaker, and the American health system has undergone the greatest test of times during the current crisis. Despite all that, it wasn’t still enough to stop millions of American house hunters from flocking in real estate online platforms such as Zillow in search of data to help them plan and decide to purchase homes. Indeed, 2020 was full of surprises.

In the same period, home values have been steadily skyrocketing in recent months, as experts project that home prices are likely to continue climbing higher in some markets this fall. Surprisingly, demand for homes has been growing over the roof, even as home values continue to shoot up. As if that’s not enough surprises, data and reports from different housing market sectors continue to show that the current market is the best time to buy a home with most aspects favorably aligned, such as all-time lowinterest rates. What a great time to be alive!

As time goes on, real estate companies are preparing for what is up next and what home buying is likely to look like in this new environment, which will require them to optimize their sales funnels, focus on effective and quality leads, and boost their profitability as home sales are expected to peak in some markets. Zillow forecasts home sales are “expected to peak this fall then taper off through 2021, though still

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staying above pre-pandemic levels.”

“The more interesting thing [is] to sustain it.

We can’t expect that kind of thing to continue,” Zillow CEO Richard Barton said of the market’s momentum on the company’s last earnings call. “So, we have to move down the funnel to find the levers to drive the business in a sustainable way, and we have these levers all the way down the funnel that we are not yet maximizing or monetizing.”

COVID-19 TIME IS DIFFERENT.

The housing market in the pandemicinduced economy in 2020 has proved to be different from the previous economic recessions. This is mainly because the current pandemic period has forced people to work from home, defining much of the housing market demand in 2020.

“There’s really no comparison to previous recessions. The housing market has done incredibly well during this pandemic-driven recession,” says Daryl Fairweather, chief economist at Redfin. “It has more to do with the pandemic itself: how everyone is stuck at home, working from home, teaching their kids from home. The home has just become so much more important.”

“The whole pandemic changed the way we think about work/life balance,” says John Campbell, a managing director at Stephens Inc. who focuses on real estate. “You factor in lower interest rates, better purchasing power, the millennial population coming in, the firsttime homebuyers—it feels like the perfect storm, all these things influencing strong buyer demand.”

THE POWER IS NOW MAGAZINE | DECEMBER 2020

OVERWHELMING GROWTH.

Demographics and all-time low mortgage rates have driven up the demand for housing. However, the lack of inventory has played a major role this time in driving home prices higher in the US. According to the National Association of Home Builders, US housing inventory levels dropped to 3.3 month’s supply as of August, representing the lowest level since 1963.

recovery. However, the real estate market hasn’t been equally favorable to everyone. Despite its momentum, one question remains unanswered; the question of affordability. The question of affordability represents distinctive hurdles for each real estate company, prospective homebuyer, and real estate companies looking to expand their customer base, and the economy at large.

On the other hand, experts and market analysts say there is no chance that the current sales can be sustained indefinitely. “We have to be realistic and realize that there is a tipping point where prices go too high, and you start to see the demand…level off,” says Ali Wolf, chief economist at Zonda, previously known as Meyers Research. “The markets that we think could peak sooner, it doesn’t mean that they’re going to fall—it just means that they’re not going to see the unstoppable growth…a seemingly unstoppable growth, they’ve seen this year.” Wolf further projects that there could be certain markets with record even higher sales next in 2021.

“Affordability will actually work against the housing market in 2021,” says Wolf. “We’ve seen home prices have gone up double digits in some markets year over year, and at a certain point that home price appreciation offsets the savings from the mortgage rate.” To make it worse, the longer the pandemic persists, the wider the affordability gap grows. The only and best way out of this depends on how soon an effective and safe vaccine will be unveiled, which we all hope to be soon enough.

DIVIDED AMERICAN DREAM.

Work cited.

The 2020 real estate market has generally displayed excellent resilience and speedy

WWW.THEPOWERISNOW.COM

https://fortune.com/2020/10/20/real-estate-coronaviruspandemic-home-buying-zillow-redfin/.

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BIDDEN: HERE’S MY PLAN FOR YOUR STUDENTS LOANS

P

resident Donald Trump is yet to concede defeat over the last election.

However, as it stands, Joe Biden will likely be sworn in the next US President after winning the Presidential election. He may lead the United States effective from January 2021.

Biden has proposed a significant number of policies to be implemented once he gets into office. These policies are projected to affect every American primarily.

Among the proposed policies by Joe Biden is the student loan policy. This policy could affect about 42 million student loan borrowers.

In the US, people are given access to student loans to sort their education bills.

Currently, the education department directly holds about $1.4 trillion in student debt. That’s a huge debt, and unfortunately, many can’t afford to repay their student debts. It is on this basis that Biden proposed his plans for student loans.

The policy will affect a significant number of borrowers’ monthly bills.

The Biden policy proposed the cancelation of student loans. This is a significant point in Biden’s manifesto, and it’ll likely be implemented if he becomes President.

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THE POWER IS NOW MAGAZINE | DECEMBER 2020

However, most people have begun to have a misconception about what is covered by the loan cancelation and what is not. Thus, we should discuss this. The following points should help to clear the miscommunication.

Only federal student loans will be canceled if the plan is implemented.

THE POLICY DOESN’T SUPPORT THAT ALL YOUR STUDENT LOAN DEBT WILL BE CANCELED

To ease the effect of the Covid-19 pandemic, the policy is expected to cancel up to $10,000 in student loan debt for each borrower.

Besides the loan cancelation policy, Biden also proposed that undergraduate tuition should be forgiven for borrowers. However, this policy does not apply to all borrowers. Only individuals who fall under the following categories will be affected:

THOSE WITH LESS THAN $125,000 ANNUAL INCOME

Only student loans from college will be forgiven.

It is not applicable to graduate school.

Students of -Serving Institutions (MSI) and the private Historically Black Colleges and University (HBCU) may also qualify for this loan forgiveness. However, you must be an undergraduate student with an annual income below $125,000.

College students may also begin to get free college education under the Biden policy.

However, not all colleges are applicable in this regard. Private colleges are excluded, but community and state colleges and universities are included. If implemented, it will cover tuition plus other related expenses.

WWW.THEPOWERISNOW.COM

On student loan repayment, there’s a generous option proposed by the President-elect. The policy suggested that people who earn below $25,000 annually will be excused from paying their undergraduate federal loans. Others with an annual income of above $25,000 will only be required to pay five percent of their discretionary income. The definition of discretionary income here is what is left of their income after removing necessities such as food and housing. That is lower than the 10 to 15 percent of discretionary income they pay at the moment.

However, with all these interesting proposals, it is essential to ask whether they’re feasible and can genuinely be implemented by Mr. Biden.

To provide an accurate answer to that, we need to refer to the constitution a bit. The federal student loan program was created by the Higher Education Act of 1965.

According to this act, the education secretary can “compromise, waive or release” federal student loan debts. According to some legal scholars, the act can also be interpreted to provide the President with the power to use an executive order.

With such order, the Education Department can be directed by the President to discharge student debts. Thus, should Mr. Biden becomes President, there are chances that he can succeed in implementing these plans.

References https://www.nytimes.com/2020/11/13/business/bidenstudent-loans.html https://uc.xyz/AJRRO?pub=link

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one are the days when you need to spend so much just to take an aerial picture of a property. Back in the days, if you desire to capture the breathtaking view of a property, you may have to hire a helicopter with a professional photographer.

Today, the world has progressed, and real estate investors and agents don’t have to spend on helicopter rental just for aerial view pictures.

With a Drone, you can capture aerial pictures and videos of any property without stress. This latest technology has contributed immensely to the real estate industry. Investors and property buyers now don’t have to be physically present at the property site before they have a clear view of the property on sale. Below is a look at how Drone Mapping is reshaping the real estate industry:

BUDGET-FRIENDLY AERIAL PHOTOGRAPHY

Before introducing Drone Mapping, estate investors often depend on satellite images to capture an aerial photograph of their property. Some who have enough money to spend often hire helicopters or airplanes to capture the picture. This can be very expensive. Chartering a plane or helicopter for such a picture can cost hundreds or thousands of dollars. However, Drone has come to change that narrative. Drone Mapping is more affordable, and as such, aerial photography of properties is now popular among estate agents. More so, since property owners and agents won’t have to spend much before they get the aerial pictures and videos of their property, their profit will also increase. Therefore, with a Budget-friendly Aerial Photography comes a better yield for property owners.

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DRONE MAPPING IN THE REAL ESTATE: HOW HAS IT RESHAPED THE INDUSTRY? PROVIDES BETTER VIEWS OF BIGGER HOMES

Professional real estate investors often consider more than the property structure. They also often consider their surroundings.

They want to see how spacious the environment is. If the property is landscaped, buyers will like to see pictures or videos of that.

Initially, to achieve this, investors might have to visit the property in person to check out all the necessary features. However, Drone Mapping has changed all that. With a Drone, you can take a picture of your big property from up. Such a photo will not only cover the property structure; it’ll also cover its landscape and give a view of its neighborhoods. That way, investors don’t necessarily have to be at the property site in person before they have a clearer view of a property.

BETTER LISTINGS

The real estate industry is one of the biggest Drone users. This is because the Drone provides comprehensive views of properties.

It helps agents provide better Listings of properties. Agents who include Drone captured pictures in their property Listings will likely be taken more seriously and more respected by investors. Investors value time a lot, and many often look for ways to do a lot within a limited time. Therefore, one way to help them manage their time is to provide detailed information on any property you want them to invest in. Drone Mapping can help in this regard. When checking online to see available properties in a particular neighborhood, most agents will prefer to go for a property with aerial pictures. If, after checking the Listings of a property, they can’t find photos of its aerial views, they might look away.

Drone Mapping has brought ease to the real estate industry. Sellers can now provide an excellent view of their properties without stress, and buyers can also see the perfect view of properties without leaving the comfort of their home.

References https://readwrite.com/2020/10/08/how-drone-technologyis-changing-the-current-real-estate-market/amp/ https://uc.xyz/ASTiY?pub=link

SELECT A VIP AGEN Adrian Bates Los Angeles

Adriana Montes Florida

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Cornelous Jackson Irvine

Danon Burnside San Bernardino

Denise Matthis San Diego

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Johnnie Morine Texas

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NT IN YOUR AREA Monica Hill Menifee

Peggie Simmons Arizona

Robert Langston Fairfield

Steve Peterson Oakland

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Yvonne McFadden Arizona

Ruby Frazier Riverside

TEXAS IS STILL WINNING

THE HOUSING MARKET RECORDED HIGH NUMBERS IN SUMMER 2020 AS THE DIGITAL REAL ESTATE MARKET NEARLY TRIPLED

Johnnie Morine The Texas real estate market 2020 continues to thrive amid the pandemic. A report compiled and analyzed by a Texas-based company, REX, detailing the state of housing market trends in Texas amid the pandemic was released on September 23, 2020. The report reveals a swirl of activity in the Texas market as home buyers reacted to the accumulated demand over a not-so-strong spring, persisting low inventory, and historically low-interest rates.

”Inventory volume in Texas has been down for two years now,” said Terrel. ”An influx of outof-state workers taking advantage of lower prices and rock bottom interest rates has kept volume in Texas low,” said Andy Terrel, REX’s Chief Data Scientist. ”COVID-19 slowed the market dramatically but new listings have recovered at a rapid pace over the course of the summer.”

WWW.THEPOWERISNOW.COM

I

ncreased job opportunities resulting from the relocation of mid-sized companies to Texas have benefited the Texas housing market throughout the year. According to Terrel, any new stimulus package from the government would boost the never-ending demand before the expiry of the stimulus package benefits.

According to the REX report, indicators that recorded a surge in housing activities during summer included: •

•

Home sales were up in August compared to YOY figures from August 2019: 22% in Austin, 11% in DallasFt. Worth-Arlington, 6% in Houston, and 7% in San Antonio.

The volume of active listings was down in August 22% YOY from Q2 2019; 32% in Austin, 28% in Dallas-Ft. Worth-Arlington, 23% in Houston, and 22% in San Antonio.

• Home value was on the rise throughout the summer, hitting an average of $252,000 in Q2 l

33

• • • •

2020, up 2.9% YOY. Among MSAs of interest: Austin: $353K in July 2020, up 10% YOY Dallas-Ft. Worth-Arlington: For SFH, $292K in August 2020, up 9% YOY Houston: $270K in July 2020, up 8% YOY San Antonio: $260K in August 2020, up 9% YOY

EMPLOYMENT

Texas recorded a quick bounce-back of employment during the pandemic as the economy began to recover steadily. On the other hand, professional and business services fell to 1.69 million in April from 1.84 million in February 2020.

However, employment throughout Texas had recovered to 1.75 million as of July 2020.

Moreover, employment in the financial industry, which includes finance, insurance, and real estate, dropped to 796,000 in May from 816,000 in March 2020. The same had recovered to 804,000 as of July 2020. Meanwhile, employment in the construction industry fell to 729,000 in April from 797,000 in

February 2020 and later recovered to 737,000 as of July.

DIGITAL REAL ESTATE IN TEXAS. Texas has recorded a surge in digital real estate market activities during the pandemic. Thanks to advanced technology. Now Texans are enjoying the convenience and savings offered via online tours, low transaction fees, and access to services from a single point. Benefits offered by digital real estate in Texas have helped homebuyers maximize their home equity, stimulated growth in the Texas housing market, consequently reducing the negative impacts imposed on state revenue and losses incurred in the financial and construction industries’ job market.

Work cited. https://www.prnewswire.com/news-releases/texashousing-market-posted-strong-numbers-in-summer2020-as-the-digital-real-estate-economy-nearly-tripledstatewide-301137127.html.

COVID-19 ROADMAP AND THE SEARCH FOR VACCINE

I

n the year 2019, the world experienced one of the deadliest viruses in the history of human existence- the novel Coronavirus 19, commonly known as Covid-19. The outbreak of this deadly virus started in Wuhan, China, and it quickly spread like a rampaging wildfire to different parts of the world. Gradually, it found its way to the United States. The US recorded its first Covid-19 case on January 21, 2020, when a young man from Washington man returned from Wuhan.

Since then, the United States, like every other part of the world, has been battling this deadly virus. The Center for Disease Control and Prevention (CDC) reported that the first local transmission of the virus in California was a patient who has no travel history to any region with the outbreak. The patient also didn’t have any history of coming in contact with anyone diagnosed with the virus. Different states in the US, including New York, Washington, and Oregon, announced their respective community transmission cases.

SEVERITY

As of late November 2020, statistics show that there are about 62.8 million total Coronavirus cases in the world. Out of all these infected people, 40.2 million have recovered, and 1.46 million have died.

However, the United States has about 13.4 million cases, which is one of the highest in the world. The death toll in the United States now stands at about 267,000. The US is one of the highest hit regions in the world, mostly because of its high immigration rate. Perhaps it

wouldn’t have been so bad if international and interstate movements were closed earlier. At first, the US government was reluctant to put the country on total lockdown, which contributed significantly to why the virus quickly found its way across the country.

The Trump administration was severely criticized for its handling of the pandemic resulting in the loss of lives. The approach adopted by the US government can be a possible reason why the country ended WWW.THEPOWERISNOW.COM

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up nen one of the hardest hit by the pandemic.

The virus could have been curtailed earlier, but President Trump played down the severity of the virus. The president said “it’s going to disappear” but unfortunately, it kept spreading across the country rather than disappearing. Even at the point when it was killing a lot of Americans, the president still claimed “we have it so well under control.”

Unfortunately, When the US government finally announced a lockdown, some Americans were against the policy and went on with their daily lives. This also contributed to why the virus went out of hand.

HOW IT HAS AFFECTED FRONTLINE WORKERS

Battling a deadly virus like the Coronavirus is tough for frontline workers. This sort of pandemic has not happened in decades; hence, it came as at an unexpected time putting healthcare workers on their toes. Frontline workers are vulnerable to distress. Studies have revealed that many frontline workers, especially medical and health workers and nurses, are battling depression, distress, insomnia, anxiety, anger, fear, and posttraumatic stress disorder. According to amnesty international, over 7,000 health workers worldwide have lost their lives to the virus. In the US alone, over 1,077 died after contracting the virus.

WHAT ARE THE EAST, WEST, AND CENTRAL STATE DOING ABOUT THE VIRUS?

Every part of the United States, including the East coast, West coast, and the Central states, are affected by the virus. However, to control the pandemic in this festive season, the governors of California, Washington, and Oregon have advised visitors in their states to be self-quarantined.

According to the governor of California — Gavin Newson, “California just surpassed a sobering threshold – one million COVID-19 cases – with no signs of the virus slowing down.” The governor added that “Increased cases are adding pressure on our hospital

systems and threatening the lives of seniors, essential workers, and vulnerable Californians.”

Oregon now records over a thousand new cases per day. In his response to curtail the virus, Oregon governor — Kate Brown has announced to close gyms and limit restaurants only to serve takeaways. According to a video the governor shared on social media, she said, “If we do not act immediately, we will soon reach a breaking point.”

New York currently has about 653,000 cases with over 34,150 deaths. To curtail the virus on the east coasts, the east coast governors have come together to form a task force. They’re working together to get rid of the virus and put the economy back on its feet.

States in the Central United States is one of the regions suffering the most from the Coronavirus pandemic in the United States. For instance, out of the 13.6 million cases in the United States, Texas alone accounts for 1.26 million cases with over 21,968 deaths. The Texas governor — Greg Abbot, has come under heavy criticism for his approach to

The Oxford University/AstraZeneca vaccine is 62 – 90% effective and can be stored at normal fridge temperature.

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THE POWER IS NOW MAGAZINE | DECEMBER 2020

the pandemic.

Illinois is another Central state battling heavily with the virus.

The state has tested about 10.5 million people, out of which 726,304 tested positive and 12,278 have died. However, according to the state of Illinois official website, “Illinois has seen an unprecedented number of unemployment claims during this challenging time, and the administration has moved swiftly to meet this increased demand and expand access to benefits.”

It further explains how the Illinois government has been helping its citizens to survive the effects of the pandemic and put the economy back on track. It proceeded, “Since March at the start of the pandemic, the administration has paid out more than $16.5 billion in unemployment insurance benefits to nearly 3 million claimants.”

CONTROL MEASURES

Controlling this rampaging pandemic requires a reduction in physical interaction. Thus, the World Health Organization (WHO) gave guidelines on how the virus can be managed from spreading and causing further chaos. Among their guidelines is that people should stay at least six feet away from others.

This is important because even a healthy-looking fellow may have contracted the virus and can spread it to any nearby person even without

On the other hand, the Pfizer/BioNtech vaccine is 95% effective and can be stored at a very low temperature of -70C.

WWW.THEPOWERISNOW.COM

showing any symptoms of the virus yet. Thus, to ensure the proper implementation of these guidelines, governments around the world, including the US government, announced a lockdown. This entails that businesses are closed and social places locked down.

EFFECTS OF THE LOCKDOWN

With businesses locked down, roads closed, and movement restricted, the world’s economic activities were primarily affected.

Many people in the United States and other parts of the world lost their jobs, and the US government was forced to provide relief packages to businesses and individuals.

Several sections of the economy were affected, including the real estate industry. With a lack of funds in circulation, there was not enough money for investors to purchase properties. Thus, with a low demand comes a fall in property prices. Therefore prices of properties, just like many other commodities, were largely affected, and they sell at low prices.

THE SEARCH FOR VACCINE: US WITHDRAWAL FROM THE WHO

While the world is still in shock of the Covid-19, the US government, under the Trump administration, announced its withdrawal from the World Health Organization effective July 6 2021. In May this year, President Trump said “We

The Moderna Vaccine can be stored at -20C for up to six months, and it is 95% effective.

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will be terminating our relationship with the World Health Organization and directing those funds to other global public health charities.”

Over the years, America has always been one of the biggest donors to the WHO. With more resources comes more research for the WHO and America has been helping with that. Unfortunately, America withdrew its support. This came due to an accusation by the United States government, claiming that the WHO has failed in its response to the pandemic and on other health issues. It further accused the WHO of not demonstrating its independence from the Chinese Communist Party.

President Trump said “China has total control over the World Health Organization,” and that the organization has come under pressure by China to “mislead the world.”

Following this announcement, the US government came under heavy criticism for taking such a decision in the middle of a global crisis where all hands are expected to be on deck. However, the US government stuck to its decision and announced it would look for a better partner it can trust.

Nevertheless, there seems to be hope that the US will continue to work with the WHO. The United States president-elect — Joe Biden, had announced it would reverse Trump’s decision before the withdrawal process was complete. The US will continue to maintain its good relationships with the World Health Organization. Mr. Biden was quoted on his official Twitter account saying “On my first day as President, I will rejoin the WHO and restore our leadership on the world stage.”

combat any trace of the virus in the system.

Therefore, there will be no new cases any longer. The question now is, how close are we to the vaccine?

There has been a significant breakthrough in developing the Coronavirus vaccine; hence, we can expect them anytime soon.

Among the top researchers that have recorded breakthroughs in developing the vaccine are Oxford University/AstraZeneca, Pfizer/BioNtech, and Moderna.

The Oxford University/AstraZeneca vaccine is 62 – 90% effective and can be stored at normal fridge temperature. On the other hand, the Pfizer/BioNtech vaccine is 95% effective and can be stored at a very low temperature of -70C. The Moderna Vaccine can be stored at -20C for up to six months, and it is 95% effective.

These vaccines are still in their preliminary phase and not yet peer-reviewed. However, the fact that they’ve proven to be effective gives us new hope. More so, the Center for Disease Control and Prevention (CDC) has said that “supplies will increase over time, and all adults should be able to get vaccinated later in 2021.”

On the part of children, CDC proceeded by saying “a COVID-19 vaccine may not be available for young children until more studies are completed.”

CONCLUSION

As the world is getting prepared for the festive period, we must know that Coronavirus is still very 8n Town and active and no cure for it. Many people are getting infected every day, and a lot of them die every day. Hence, for a safer world free of pandemics, we all should adhere to the laid down regulations while in the festive mood.

WHEN SHOULD WE EXPECT A VACCINE?

According to the Center for Disease Control and Prevention (CDC), “in the United States, there is not yet an authorized or approved vaccine to prevent coronavirus disease 2019 (COVID-19).”

However, the best way out of this pandemic is having a vaccine plus an effective treatment. With a vaccine, the body’s immune system can be empowered to 40

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References https://www.bbc.com/news/amp/health-51665497 https://abcnews.go.com/amp/Health/timeline-coronavirus-started/ story?id=69435165 https://www.express.co.uk/news/world/1270061/US-lockdown-When-didthe-US-go-into-lockdown/amp https://news.google.com/covid19/map?hl=en-NG&mid=%2Fm%2F09c7w0 &gl=NG&ceid=NG%3Aen https://coronavirus.illinois.gov/s/ https://www.cdc.gov/coronavirus/2019-ncov/vaccines/faq.html

THE POWER IS NOW MAGAZINE | DECEMBER 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.

Do you know

Peppermint Ridge?

We provide a community of loving homes and empowering support services for individuals with intellectual and developmental disabilities.

We

support and encourage our residents to live their

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

COMMERCIAL REAL ESTATE MARKET FLOUNDERS EVEN AS RESIDENTIAL MARKETS BOOM Steve Peterson

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he housing market, in general, is a beehive of activities amid the pandemic. Thanks to the historically low mortgage rates and the current trends where scores are fleeing the cities for the suburbs.

However, not all sectors of the housing market are red hot with housing activities. Commercial real estate, in particular, is suffering a different kind of blow from the COVID-19 pandemic. With the rise of Zoom and Slack platforms, and other productivity tools, it has become easier for people to work from home. On the other hand, online stores such as Amazon and other online retailers are ripping big amid the pandemic as the shifting from physical stores to online shops is accelerating.

”There will likely be less demand for commercial real estate due to the rising popularity of online shopping and working from home,” said Ivy Investments global economist Derek Hamilton in an email.

Regarding that, corporates are laying off thousands of employees due to the plunge in operations. For example, Brookfield Property Partners (BPY), which owns malls and other shopping centers, including Tysons Galleria in Virginia, announced that it would lay off 20% of the 2000 employees in its retail arm. In an email obtained by CNN Business on September 22, 2020, Brookfield said, ”our business has been frustrated, interrupted and constrained” due to Covid-19 and that ”after thoughtful consideration, we have reached the heavy decision to reduce the size of our workforce.”

Elsewhere, it’s not the entire commercial real estate market sector that is suffering; some parts are holding up well. ”There are lot of subsectors in commercial real estate,” notes Fernando De Leon, managing partner at Leon Capital Group, a real estate investment firm. According to De Leon, properties that house warehouses used by e-commerce firms are well cautioned from the economic pain. The case is the same for self-storage companies, as storage rents remain stable as people look to remodel their living spaces, he added.

Moreover, “pharmacies, grocery stores and restaurants

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with thriving takeout and delivery businesses are doing particularly well,” said Michael DeGiorgio, founder and CEO of CREXi, an online real estate marketplace that has partnered with Leon Capital Group. ”The lights are slowly turning back on. People may be anxious to go back out, go shopping and eat out again.”

However, some cite it as a case of the haves and have nots when it comes to commercial real estate as many hotels and office space owners, as well as specialty shops, are struggling. Hospitality and retail have been decimated. ”The office side is still up in the air,” said Ivan Kaufman, CEO of Arbor Realty Trust (ABR), a real estate firm that invests in mortgages tied to commercial real estate and multifamily apartments.

Despite some companies resorting to having their employees work from home, some are still committed to having their employees attend their workplaces physically occasionally. ”The complete elimination of offices is not happening. Many companies realize they still need them even though demand may be softer,” he said. ”It’s not all doom and gloom. It’s an adjustment.”

WHAT CAN BE DONE?

Congressman Van Taylor, a Texas Republican, wrote a bipartisan letter last summer urging the Fed chair Jerome Powell and Treasury Secretary Steven Mnuchin to boost financial aid for the commercial real estate industry to ”bridge the temporary liquidity deficiencies facing commercial real estate borrowers.” Van Taylor wrote that ”These industries don’t need a bailout, but they do need flexibility and support to keep their doors open,” Moreover, Powell acknowledged and noted during a press conference in mid-September that many commercial real estate firms are not able to take advantage of the low-interest rates to borrow more finances due to the legal obligations in their debt covenant agreements. However, there is hope that Washington will do more to support commercial real estate.

Work cited. https://edition.cnn.com/2020/09/22/investing/commercial-realestate-recession/index.html.

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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 •

•

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 •

•

•

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

BIDEN’S TRANSITION TEAMS BRINGS IN BACK KEY CFPB PLAYERS:

WHAT DOES THAT MEAN?

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ow that the American people have decided and chosen former vice president Joe Biden to lead the nation effective from January, a lot is already underway. Although President Donald Trump is yet to concede defeat and the election result is still being challenged. However, President-elect Joe Biden has spared no time at all. He’s already putting in place his transition teams in preparation for the January 2021 Inauguration.

Biden brings in back key players to be a part of his Transition team for the Consumer Financial Protection Bureau? One of the key players is the hand-picked successor of former CFPB Director Richard Cordray — Leandra English.

Transition Teams for the Consumer Financial Protection Bureau.

The occurrence that led to her being denied the position of directorship under Trump seems politically instigated. Also, her presence in Biden’s Transition Teams looks political. Whichever way it is, English appears to be qualified for the position.

If she later becomes the director of CFPB under the Biden administration, she can utilize her experience as the CFPB chief of staff and deputy director to provide the excellent leadership that the CFPB needs.

Biden bringing back English may also mean that he needs people we already know and recently worked with to form his new team.

Remember that President-elect Joe Biden served as vice president under President Barack Obama. Since the administration was tagged successful by many Americans and ranked among the best in America’s history, Biden may also need the people This automatically makes English the right candidate for the he had a history working with to come aboard again. English has been in the CFPB CFPB director after Cordray stepped down. Unfortunately, for years and contributed to the success of President Trump didn’t agree to this. He, instead, went the Consumer Financial Protection Bureau ahead to appoint Mick Mulvaney — former acting director under the Obama/Biden administration. of CFPB. Therefore, it will be logical, defendable, and justifiable for Biden to bring him aboard English took the case to court, resulting in a tussle again. regarding who is the real director of CFPB. Unfortunately, English lost the battle when the verdict was given, and it Nevertheless, English is not the only key was against her. Rather than giving up, English further took the case to the U.S. Court of Appeals for the District of member of key CFPB Players in Biden’s Transition Team, but, of course, she’s the Columbia Circuit. most popular of them all, and the likely one to be the next CFPB Director.

English later gave up the fight when Kathy Kraninger was Considering the occurrence that led to the emergence of the current CFPB Director under President Trump, it is logical to expect that a new director will emerge should Biden become president. In 2017, the immediate former director of CFPB — Richard Cordray, stepped down.

However, before his step-down, he already promoted English to the deputy director’s position from the chief of staff.

officially named as a permanent replacement for Cordray’s permanent as CFPB Director. English then left the CFPB.

Now, there seems to be hope again for the former deputy director as she has been called upon to be a part of Biden’s 48

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References https://www.housingwire.com/articles/bidentransition-team-brings-back-key-cfpb-players/amp/ https://debtconnection.com/biden-transition-teambrings-back-key-cfpb-players

THE POWER IS NOW MAGAZINE | DECEMBER 2020

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onsidering the significant impact of Covid-19 in the world’s economy, including the housing markets, countries are now working relentlessly to ensure that their economies are back on their feet.

The virus mostly hits the US, and it is still battling with it to date. Prices of properties in the United States have been significantly affected by this global pandemic, and something has to be done to return things to normal.

It is on this basis that The Federal Housing Finance Agency has finally decided to validate and approve classic FICO for Freddie Mac and Fannie Mae. Such approval means that Fannie Mae and Freddie Mac can now use the classic FICO credit score model.

FHA DECISION TO APPROV FREDDIE MAC AND FANNIE THAT DECISION WEIGH ON

There’s a provision in the regulatory reform law S. 2155 that mandated evaluating a new credit score model.

Therefore, the approval is constitutional.

With this approval, Fannie and Freddie are now allowed to continue providing every necessary support required by the mortgage market. It’ll also help to access other modern credit score models.

The question now is, how much does that decision weigh on the housing market? Will it be able to make a significant impact or not?

To answer this question, it is better first to understand the role of Fannie Mae and Freddie Mac in the housing market. When you hear Fannie Mae and Freddie Mac, they refer to two federally-backed home mortgage companies in the United States. The US Congress created these companies to serve a vast number of purposes in the US housing market. They buy and guarantee mortgages from lenders. They hold the purchased mortgages with them in their portfolio.

They also transform the loan into mortgage-backed securities (MBS), which will then be sold to interested investors.

Fannie Mae and Freddie Mac play crucial roles in America’s housing finance system. Their primary goal is to provide stability and liquidity in the mortgage market. They also ensure that properties are well regulated and affordable. They provide liquidity to institutions that offer loans to finance housing. Such

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VE CLASSIC FICO FOR E MAE. HOW MUCH DOES N THE HOUSING MARKET?

institutions include mortgage companies and banks.

Now, you should begin to understand how the FHA’s decision to approve classic FICO for these two government-owned companies can affect the housing market.

Such a decision can help stabilize mortgage markets, especially at this time of global crisis.

That is one of the significant reasons why Fannie Mae and Freddie Mac were introduced in the first place. They are there to provide the housing market the required protection for the housing market when the economy is threatened, as the country is witnessing today.

Furthermore, the decision will help ensure that there’s the availability of mortgage funds across the country. With such availability, investors and homebuyers will have enough money to get the property of their choice; thus, there’ll be enough money circulating in the property market.

By approving classic Fico for Freddie Mac and Fannie Mae, mortgage providers, especially banks, will have access to more funds that can be provided to mortgage lenders. Mortgage lenders will, in turn, be able to purchase their desired properties. With such a trend, the housing market will begin to thrive again, and it’ll eventually be able to stand firm again after a long period of a global pandemic.

References https://www.investopedia.com/articles/economics/08/fanniemae-freddie-mac-credit-crisis.asp https://www.fhfa.gov/SupervisionRegulation/ FannieMaeandFreddieMac/Pages/About-Fannie-Mae--Freddie-Mac.aspx https://bankingjournal.aba.com/2020/11/fhfa-validatesclassic-fico-for-fannie-mae-freddie-mac/ fa.gov/mobile/Pages/public-affairs-detail. aspx?PageName=FHFA-Announces-Validation-of-ClassicFICO-for-Use-by-Fannie-Mae-and-Freddie-Mac.aspx

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COVID-19: JUST HOW CLOSE ARE

WE TO A VACCINE? “How close are we to a vaccine?”

This is the question on the lips of almost every individual of the seven billion people on planet earth. The question of how close we’re to a vaccine is of great importance to everyone worldwide.

From business people, teachers, pupils, restaurant owners, construction workers, to every individual who feels ripped off their freedom of association and movement.

The work of developing a COVID-19 vaccine began in January in various research centers and institutions. As early as March, rumors of the unveiling of a possibly effective COVID-19 vaccine had already started emerging, with UK Boris Johnson stating they “would turn the tide in 12 weeks and send the coronavirus packing.” Elsewhere, different organizations and drug manufacturers were boasting of having a vaccine by September.

However, as of now, no COVID-19 vaccine is actually ready. Not that those who were boasting of having a vaccine by September were wrong, but the process of making a vaccine is not a walk in the park. The process is quite complex and has a lot of formalities.

Vaccines require years of thorough research and testing before being approved for distribution to health centers. However, in this case, scientists are racing to come up with a safe and effective COVID-19 vaccine by 2021.

WHERE ARE WE WITH THE VACCINES?

According to The New York Times Coronavirus Vaccine Tracker, researchers are were testing 54 vaccines in clinical trials on humans, while at least 87 preclinical vaccines were under active investigation in animals, as of November 18, 2020.

The vaccine tracker further reveals the progress in developing the vaccine among various companies.

On November 13, 2020, a vaccine from OncoSec Immunotherapies enters Phase 1, which involves safety trials. At this phase, researchers try the vaccine on a small number of people to test its 52

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safety and dosage and confirm if it stimulates the immune system.

On November 16, 2020, a vaccine from Inovio proceeds from Phase 1 to Phase 2. Phase 2 involves expanded trials, where scientists give the vaccine to hundreds of people divided into groups, such as children and older people, to determine if the vaccine reacts differently in them.

On November 16, Moderna reports promising early results. The company announced that its vaccine has shown to be 94.5% effective. From their trials, of 95 participants who had COVID-19, 90 had the placebo, and only five had the vaccine. Earlier on, Moderna found out that the vaccine protects monkeys from COVID-19. Moreover, Moderna found another promising result from the vaccine that it appears to protect people from severe disease. Out of 11 who developed severe disease, none were vaccinated. Moderna plans to submit an application for an Emergency Use Authorization in the coming weeks.

More recently, on November 18, 2020, Pfizer announces that its coronavirus vaccine is 95% effective. Pfizer, who are working with BioNTech, have two versions of mRNA vaccine. On undergoing trials, they found out that both versions caused volunteers to produce antibodies against SARSCoV-2 and immune cells known as T cells that respond to the virus.

All the companies that have reported a possible breakthrough in their vaccines have already started inking hefty deals from countries across the world.

So far, there are strong signs of a possible breakthrough of more than one coronavirus vaccines by the end of the year. Meanwhile, let’s keep the hopes high without forgetting to observe the correct safety measures to keep ourselves safe.

Work cited. https://www.nytimes.com/interactive/2020/science/ coronavirus-vaccine-tracker.html.

THE POWER IS NOW MAGAZINE | DECEMBER 2020

Hello Christmas...

But wait “Kwanzaa!”

It’s almost that time of the year again when everywhere will be decorated with lovely lights. December is almost here, the month of celebration. Several enjoyable occasions come in December, including the Christmas party and Kwanzaa.

In most countries worldwide, they will only be looking forward to December 25 — Christmas day to have fun. Once the Christmas celebration is over, then, they return to their daily activities and begin to look forward to the January 1st new year celebration. This is the same in the United States, but for some minor African-American communities, there’s more to that. Besides the Christmas celebration on 25th, there’s another celebration that commences from December 26th to January 1st — Kwanzaa. Kwanzaa is celebrated by sharing gifts to loved ones and neighbors coupled with a fist of faith, called Karamu Ya Imani. It was first celebrated in 1966 following its creation by Maulana Karen ga. Therefore, in many African-American communities, they make special preparation for Kwanzaa as they also prepare for Christmas. The significance of this celebration is to promote African heritage and to embrace unity and culture.

Considering the spirituality attached to the Kwanzaa celebration, many Christians often distance themselves away from the celebration even in the black community where it is meant to be celebrated. It is a common practice that those who celebrate Kwanzaa don’t celebrate Christmas, and those who celebrate Christmas don’t celebrate Kwanzaa. However, some people celebrate the two. It is seen as an alternative to Christmas, but for those who celebrate both they believe that the two are just ordinary celebrations of love and none should be discriminated against.

Those who celebrate Christmas and Kwanzaa believe that Kwanzaa is a cultural holiday and not religious. Therefore, they believe that it doesn’t snatch away your faith regardless of religion. Besides the black American communities, some other minor communities also adopt the celebration of Kwanzaa.

The Kwanzaa celebration is centered around seven essential principles. These principles include unity (Umoja), collective work and responsibility (ujima), self-determination (kujichagulia), cooperative economics (ujamaa), creativity (kuumba), purpose (nia), and faith (Imani).

The celebratory symbol of Kwanzaa is a mat (Mkeka). On this mat are placed other symbols, including mazao (crops), kinara (candleholder), kizomba cha Umoja (unity cup), Zawadi (gifts), muhindi (corn), and mishumaa saba (seven candles).

Over the years, there has been a decline in the celebration of Kwanzaa, and this can be traced back to the role of the black separatist movement.

Today, only a few people celebrate Kwanzaa in the United States. Many young black Americans today WWW.THEPOWERISNOW.COM

have never heard of it. A sponsored survey by the National Retail Federation revealed that in 2015, only 1.9% of those engaged in the pole celebrated Kwanzaa. This is approximately six million people in the USA. Whether you will celebrate Kwanzaa or not, you should decide now and begin to prepare because December is almost here.

However, if you only want to stick to the Christmas celebration, as usual, you should endeavor to make the best of it. One way to have a memorable Christmas celebration is to hang out with your friends and loved ones. You can also stay at home and have some great moments with your family. You can start decorating your home now in preparation for the once in a year celebration.

Get gifts for your loved ones, and have a lovely celebration. Most importantly, free your mind on Christmas day, don’t let your challenges weigh you down, eat as much as you like but in a reasonable quantity.

Whether you’ll be celebrating Christmas or Kwanzaa, or you’ll be celebrating both, what is most important is that you have a blissful holiday.

References https://www.history.com/.amp/news/5-things-you-may-notknow-about-kwanzaa https://en.m.wikipedia.org/wiki/Kwanzaa

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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.