The Power Is Now Magazine East Coast Edition | December 2020

DECEMBER 2020 Vol. 07 | Issue 12

LOST LOVE BETWEEN EUROPE AND AMERICA? Page 12

COVID ROADMAP

and the search for a vaccine Page 34

HELLO CHRISTMAS BUT WAIT “KWANZAA!” Page 58

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

magazine EAST COAST 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

CLICK HERE TO READ US ONLINE!

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CONTENTS POWER TECHNOLOGY Pg. 26. PropTech: Re-examining the world post Covid-19. Is PropTech the new Direction?

VIP AGENTS Pg. 30. Home builders in Maryland prepare for a surge in Outer Surburbs pullback from the urban centers.

Pg. 34. COVID roadmap and the search for vaccine

Pg. 42. A 57-Unit mixed complex proposed near Roselle Park Train Station

POWER GREEN Pg. 8. Preparing for the worst: Hurricane disaster preparedness POWER ECONOMICS Pg. 12. Lost love between Europe and America? Can US Regain its Global leadership Position?

Pg. 14. More people in N.J. could be eligible for extended unemployment benefits under bill passed by Legislature POWER REAL ESTATE Pg. 16. The North East dominates this year’s hottest housing market in the US, despite the Corona Virus Pandemic Pg. 20. After several disturbing incidents, NAR amends Code of Ethics to include Realtors’ personal behavior POWER LENDING Pg. 24. Bidden: Here’s my plan for your student loans 4

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POWER LEGAL Pg. 44. Bidden’s transition teams: brings in back CFPB players: What does that mean?

POWER MORTGAGE Pg. 48. FHA decision to Approve Classic Fico for Freddie Mac and Fannie Mae. How much does that decision weigh on the housing market?

Pg. 48. A Promise Must Be Kept! Affordable Housing Groups Look For Biden to Fulfill Campaign Promises POWER HEALTH Pg. 52. Marijuana decriminalization stalls in N.J. Assembly after lawmakers add magic mushrooms to the bill. Senate moves forward Pg. 54. N.J. to lower indoor, outdoor gathering limits after record-setting weekend of COVID-19 cases, Murphy says POWER COMMUNITY Pg. 58. Hello Christmas…. but wait “Kwanzaa!”

THE POWER IS NOW MAGAZINE | DECEMBER 2020

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FROM THE EDITOR regarding COVID... But who am I kidding? You will find a story or two that references the virus, so apologies in advance.

W

hat a year this has been! In the seven years we have been producing this magazine, I have never seen one story dominate the news as COVID has. COVID businesses… how have COVID done this….. How has COVID done that… we’ve seen it all. And it looks like we might still have to add some titles to the almost ‘full’ catalog of the COVID stories. The virus has ruined most things, lives have been disrupted, economies have shut down, businesses have been closed, so I wonder, what more does this virus want from us? Honestly, as a writer, I am tired of writing the same story over and over again about this microscopic menace, and one thing I am quite sure of is that you are also tired of hearing about it too. So, I will save you the trouble by telling you that in this issue of the TPIN East Coast edition magazine, we’ve not included any story

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But it only seems fair to bid the virus good goodbye and hope that it washes off as we enter the New Year (I hope that we’ll have found a vaccine by then). The virus has taken so much from us and continues to shake our existence’s very foundation. As such, we decided to include it as the cover story for this issue. Other than that, it is fair to say that 2020 has been an exciting year.

Besides the Pandemic, other events that marked this year apart were the global Black Lives Matter movement that burst out due to police brutality in the United States. Sparked by the cruel death of George Floyd, people took to the streets to protest the killing of an innocent man. I still think about his death and others like Breonna Taylor and Eric Garner, and I feel the pain of knowing that we are not free. You would think that the killings would stop soon after, but it did not.

Shortly later, violent protests were reported in Kenosha, Wisconsin, where a police officer shot another black man back seven times. These are the crimes that the black community in the United States is tired of, and I know for a fact that by taking a stand as we did, something is about to change; black people cannot be ignored any longer.

Having mentioned all these events, I will be delighted knowing that 2021, with a new president, is in safe hands. While I am not hoping for an easy way out, I hope for a year of reconciliation and peace. Yes, the country might be so divided, but we can come together once more. Find common ground because we still have to remember that we are one. Nothing will make me happier than when I see that the virus and the racial

THE POWER IS NOW MAGAZINE | DECEMBER 2020

injustices happening in the country are stories that are no longer necessary.

boldly; you deserve every bit of it. You are a hero!

Besides, I like to believe that we take the glass-half-full approach with every story we write. Therefore, in this issue, you will find stories to keep you informed all through the month. Stories about our community’s resiliency and the American spirit of fighting for the better and hoping for the best.

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 here with us, and until we get a vaccine, it is not going anywhere, so we’re not safe yet.

So just for a moment, let us look forward to what 2021 holds for us. Let us imagine what January 2021 would look like. I see hope; I see resilience; I see brighter days ahead, I see you, and I making out of this menace more refined and better than we were a year ago. Ours is a story of hope, a story of how we made it through the most challenging year. As such, go out, celebrate

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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PREPARING FOR THE WORST:

Hurricane disaster preparedness B

y now, we all have seen for ourselves and heard stories and personal accounts of how disasters affect people. Needless to say, this year has had a record of fatal disasters that have wreaked havoc throughout the country. One thing that stood out from all disaster cases was the need and benefit of being prepared. Preparing for disasters should come before anything else. So, how do you prepare for a disaster? Particularly hurricane disasters.

hand to help you cope with the situation until help arrives. Experts recommend having an emergency kit prepared that can help you survive for up to three days. However, you may need to survive on your own for up to a week.

If you reside in locations at risk of hurricanes, the CDC encourages you always to be prepared for the hurricane season. The Atlantic hurricane season begins on June 1 and runs through to November 30 every year. Ensure you’re always fully prepared for hurricane disasters throughout that period.

•

According to Ready.gov, below is a list of supplies you should have on your emergency kit: •

•

ater, one gallon of water per person per day for at least three days, for drinking and sanitation.

Food, at least a three-day supply of nonperishable food.

Battery-powered or hand-crank radio and an NOAA Weather Radio with tone alert and extra

PREPARING FOR A HURRICANE AMID THE PANDEMIC.

It’s important to understand that your preparations may be different this year because of the need to ensure your safety and the safety of others from COVID-19. In these unprecedented times, give yourself more time than usual to prepare your emergency kit. In these times, home delivery is the best choice for acquiring disaster supplies. In case there is a need to go shopping physically, ensure you take the necessary steps to protect yourself and others from COVID-19.

PREPARING AN EMERGENCY KIT.

Normally, when disaster strikes, local officials and emergency personnel are always on the scene. But they may not reach you immediately to offer help.

This requires you to have all the necessary things at 8

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THE POWER IS NOW MAGAZINE | DECEMBER 2020

• • • •

•

• • • •

batteries for both.

Flashlight and extra batteries.

First aid kit.

Whistle to signal for help.

Dust mask, to help filter contaminated air and plastic sheeting and duct tape to shelterin-place.

Moist towelettes, garbage bags, and plastic ties for personal sanitation.

Wrench or pliers to turn off utilities.

Can opener for food (if kit contains canned food).

Local maps.

Cell phone with chargers, inverter, or solar charger.

HAVE A DISASTER PLAN.

When disaster strikes, you should have a plan on how you’re going to contact one another. Also, the plan should address what every member of your family should do in different emergencies. Ready.gov recommends that the following:

•

•

•

•

Identify an out-of-town contact. It may be easier to make a long-distance phone call than to call across town, so an outof-town contact may be in a better position to communicate among separated family members.

Be sure every member of your family knows the phone number and has a cell phone, coins, or a prepaid phone card to call the emergency contact. If you have a cell phone, program that person(s) as “ICE” (In Case of Emergency) in your phone. If you are in an accident, emergency personnel will often check your ICE listings to get a hold of someone you know. Make sure to tell your family and friends that you’ve listed them as emergency contacts.

Teach family members how to use text messaging (also known as SMS or Short Message Service). Text messages can often get around network disruptions when a phone call might not get through.

Subscribe to alert services. Many communities now have systems that will send instant text alerts or e-mails to let you know about bad weather, road closings, local emergencies, etc. Sign up by visiting your local Office of Emergency Management web site.

STAY INFORMED.

In times of disaster, the best way to survive is by staying informed. There are several ways you can stay informed. First, you can download the FEMA app that will be showing your real-time alerts from the National Weather Service for up to five locations countrywide. You can also sign up for community alerts in your area and stay informed of the Emergency Alert System (EAS) and Wireless Emergency Alert (WEA), which requires no sign-up. Remember, staying informed helps you to plan in time and can save your life.

Also, remember you can never stop a hurricane, but you can be ready for it. Stay prepared.

Work cited. https://www.ready.gov/hurricanes. https://www.weather.gov/bmx/outreach_beingprepared.

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LOST LOVE BETWEEN EUROPE AND AMERICA? CAN US REGAIN ITS GLOBAL LEADERSHIP POSITION?

F

or years, the United States and EU have been maintaining a great relationship. They cooperate on many things, including military defense, trade, and other shared values. However, this fantastic diplomatic relationship that has been maintained for years seems to suffer a crash in the hand of the current US President— Donald Trump.

WHAT STRAINED THE US - EU RELATIONSHIP

Several occurrences emerged under the Trump administration, tearing apart the long term EU – US relationship. In January 2017, President Trump accused the EU of being “a vehicle for Germany.” He condemned the Chancellor of Germany — Angela Merkel’s decision to bring in a million refugees into their country.

Trump refers to these refugees as “illegals” During the tussle between Brexit and the European Union, the United States president supported Brexit’s decision to break away from the EU. Following this occurrence, the relationship further strained when the then President of the European Commission — Jean-Claude Juncker, jokingly made a statement indicating his support for the independence of the city of Austin and the US state of Ohio.

To further establish the strained relationship, Angela Merkel made a statement following a NATO Summit saying Europe has lost

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THE POWER IS NOW MAGAZINE | DECEMBER 2020

confidence in the United States. She made this statement after President Trump called Germans bad people. President Trump also threatened to stop America’s long time car dealing business with Germany.

President Trump accused the EU by calling them one of America’s greatest foes in the world. This statement was prompted by the EU’s decision to fine Google $5.1 billion based on trust violation.

Trump said the European Union is only taking advantage of his country.

With what seems to be a lost love between the European Union and the United States, it appears that the US is losing its global leadership. As a global leader, the US is expected to lead by example and adopt diplomatic rather than aggressive approaches to international issues. The EU is a giant to be reckoned with in the world. Thus, America cannot continue to effectively maintain its global leadership position if it can’t live in peace with its neighbors and can’t earn their support. Besides having issues with the EU, America under Trump also have issues with several Asian countries. The stand up between the US and North Korea nearly resulted in a nuclear war. Though the US doesn’t have a good relationship with many Asian countries; it gets worse under the Trump administration. It is not the attribute of a world leader to make more enemies than friends. This is why and how the US is hastily losing its global leadership position.

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HOW THE US CAN REGAIN ITS GLOBAL LEADERSHIP POSITION

The deeds have been done and can’t be erased.

Going forward, the question is, can the US Regain its Global leadership Position? The answer is yes! A significant reason why America is losing its leadership position is its lost love with the EU. However, the two had an excellent relationship in the past, and they had a history of doing great things together. Therefore, for the US to regain its global leadership position, it must first find common ground with its European neighbors.

Unfortunately, this seems to be an unachievable development under the Trump administration.

Even if the Trump administration decides to start a rebuilding process with the EU, it will take more effort to win their trust and respect than if a new US president takes a similar step.

Considering the outcome of the recent US election, there seems to be hope for a renewed relationship between the US and EU if Biden becomes president. With a strong relationship between these superpowers, there’s hope for the US to regain its global leadership position.

References https://en.m.wikipedia.org/wiki/United_ States%E2%80%93European_Union_relations https://carnegieeurope.eu/strategiceurope/82962

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U

$

nemployment benefits have functioned to serve as shock absorbers in mitigating the disruption of the Coronavirus pandemic on the economic welfare of households and individuals who have suddenly found themselves out of jobs through no fault of their own.

MORE PEOPLE IN N.J. COULD BE ELIGIBLE FOR EXTENDED UNEMPLOYMENT BENEFITS UNDER BILL PASSED BY LEGISLATURE 14

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However, people are becoming restless in the face of the imminent expiration of these unemployment benefits.

Unemployment insurance benefits are for 12 and 28 weeks, with the majority of states offering 26 weeks of benefits. Once these weeks are used up, the benefits are cut off. Since the economy is yet to make a strong comeback to its former status, individuals would be left out to dry.

Congress is creating automatic stabilizers to maintain how these benefits are triggered and dispersed for its citizens.

This program extends UI for 6-20 additional weeks after 26 weeks of benefits and 13 weeks of the CARES Act. The Act, known as The Coronavirus Aid, Relief, and Economic Security (CARES)

THE POWER IS NOW MAGAZINE | DECEMBER 2020

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Act, provides monetary bonuses for stakeholders and expanded unemployment benefits. This way, first responders, national public service providers, freelancers, and contractors are eligible for these benefits. The Federal government and state legislature provided these unemployment benefits to cater for the large number of unemployed citizens who have been displaced during the pandemic.

Access to Unemployment Insurance Extended Benefits nonetheless is based on criteria; prior earnings, eligibility rules, and benefits. These criteria vary from state to state. In the state of New Jersey, the record of your past earnings during a ‘one-year base period’ must exceed a certain level. The base period is the earliest four of the five complete calendar quarters before you filed your benefits claim (The calendar quarters are January through March, April through June, July through September, and October through December).

During this base period, you must have worked at least 20 weeks in the base period and earned at least $200 per week, or you must have made at least $10,000 total during the base period to qualify.

Another factor that determines eligibility is the reason for unemployment. Anyone who has been out of the labor market for some time will not necessarily qualify.

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The unemployment status must be a result of the company’s downsizing or retrenchment of workers for economic reasons. Being laid off because of incompetence or wrongful behaviors may prevent you from enjoying the benefits. New Jersey has its categories where each misconduct fits.

One more criterion is the amount and duration of Unemployment Benefits in New Jersey. If you are eligible to receive unemployment, your weekly benefit rate (WBR) will be 60% of your average weekly earnings during the base period, multiplied by the number of times you worked in 26 weeks.

The Federal and State government finances these UI Extended Benefits.

The inclusion of the CARES act loosened the boundaries for eligibility as a larger percentage of the populace can claim payments of these Unemployment benefits.

Conclusively, these benefits have been structured in a way to ensure that only those who need it can access it and also makes allowances for the special case scenarios. More people are included in this package, and so far, it has helped curtail the financial pressure of low and middle-income earners.

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THE NORTH EAST DOMINATES THIS YEAR’S

HOTTEST HOUSING MARKET IN THE US, DESPITE THE CORONA VIRUS PANDEMIC

T

he 2020 housing market has been hot with activities in different regions of the country. The housing market fared differently throughout the year, with most showing signs of strength and quick bounce-back from the impacts of the pandemic.

However, the Northeast region claimed most of this year’s top 10 hottest real estate markets in the country, according to an annual ranking by Realtor.com published in August. The Realtor.com ranking is based on the time taken to sell properties and the frequency of viewing homes between April 1 and June 20, 2020, in every of the 20,000 ZIP codes analyzed by realtor.com.

increase, 39% less than the metro area and 13% below the national median.

Meanwhile, other hottest ZIP codes, according to Realtor.com, include 43068 in Reynoldsburg, Ohio; 14617 in Rochester, New York; 02176 in Melrose, Massachusetts; 04106 in South Portland, Maine; 66614 in Topeka, Kansas; 03051 in Hudson, New Hampshire.; 01602 in Worcester, Massachusetts; 22152 in Springfield, Virginia; and 27604 in Raleigh, North Carolina. On average, houses in these ZIP codes sell in 18 days. This is 51 days faster than the national rate and 27 days faster than their respective metros, according to Realtor.com.

Regarding this, the hottest housing On the other hand, visitors view these markets on Realtor.com 4.3 market countrywide was ZIP more times on average than the code 80911 of Colorado Springs, rest of the country and 2.2 times Colorado. Here, homes spent an average of 13 days on the market, more than their respective metros. which is 20 days less than the Elsewhere, the report revealed Colorado Springs metro area and a distinguishable divergence 58 days less than the national between the East and West coasts, median. The median listing price where the hottest markets share in this ZIP code is $287,000, representing a 6.5% year-over-year some consistent factors such as 16

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easy access to outdoor space and downtown amenities, relative affordability with a stable local economy, and a massive number of millennial homebuyers.

MILLENNIAL HOMEBUYERS.

“As the largest generation in U.S. history continues to advance toward life milestones—settling down, marriage, parenthood —the need for space and affordable housing outshines the bright lights in expensive urban areas like New York or Los Angeles,” realtor. com chief economist Danielle Hale, said in the report.

The report showed that in the top hottest ZIP codes highlighted above, millennials made up 53% on average of homeownership and 38% of mortgage originations.

“While we’ve seen millennials moving in this direction for a few years now, all the extra time at home spent trying to work, learn, and play in response to the pandemic has heightened these preferences, and put the trend toward extra space and affordability on fast-forward,” Ms. Hale added.

Work cited. https://www.mansionglobal.com/articles/ northeast-dominates-this-years-hottesthousing-markets-in-u-s-218519.

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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.

AFTER SEVERAL DISTURBING INCIDE NAR AMENDS THE CODE OF ETHICS T REALTORS’ PERSONAL BEHAVIOR E

arlier this year, NAR’s local, state, and national associations received various complaints about discriminatory speech posted online by realtors. Among them was a case of a RE/MAX agent in Denver who was fired in August for plucking out Black Lives Matter signs from her neighbors’ yards. Another one was a San Antonio Realtor with Keller Williams, who was fired in September for posting threats to “hunt” Black Lives Matter protesters on Facebook.

Regarding these and other incidences, the NAR’s Professional Standards Committee tabled a motion making it a violation for Realtors to use harassing or using hate speech on any of the protected groups or classes (race, color, religion, sex, handicap, familial status, national origin, sexual orientation, and gender identity) under Article 10 of the association’s Code of Ethics. After months of meetings and deliberations, the association’s Advisory Board recommended that it’s Code of Ethics should apply to both the professional and personal actions of a Realtor.

On November 13, 2020, the Board of Directors for NAR voted in favor of the motion by NAR’s Professional Standards Committee. The move comes as the association continues to strive to reaffirm its commitment to fair housing and place its members to be at the frontline

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THE POWER IS NOW MAGAZINE | DECEMBER 2020

ENTS, TO INCLUDE in leading the country’s real estate industry in the fight to eliminate discrimination and inequality. ”I applaud NAR’s Board of Directors and our Professional Standards Committee for their efforts to raise the bar on the professionalism and private speech of America’s 1.4 million Realtors®,” said NAR President Vince Malta, a broker at Malta & Co., Inc., in San Francisco, CA. ”Combatting and overcoming bigotry and injustice starts with each of us.

Realtors® today took tangible steps to ensure we are held to the highest possible standard while providing a mechanism of enforcement for those who violate our new policies.” “[For each Realtor] it means that we never take our hands off, no matter where we are, no matter what we do, we are always licensed and we are always a member of the National Association of Realtors,” the New York State Association of Realtors President Jennifer Stevenson said. “Being a member is not a right, it’s a privilege, and with that privilege comes commitments, and some of that commitment is affirming our commitment to fair housing.”

WHAT DOES THIS MEAN?

With the motion passed, it means that any complaint alleging a violation of

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Article 10 as recorded by Standard of Practice 10-5, the violator cab now be brought before a hearing panel at a local Realtor® association, where the circumstances of each individual case will be assessed.

Although the proposal seeks to have Realtors take responsibility for their personal actions, it will not bring any additional liability to their principals.

“This successful, member-led expansion of our Code and its Standards of Practice resulted in necessary specificity as to our accountability for behavior both within and outside real estate transactions as it pertains to protected classes of those consumers,” said Cindi Bulla, current chairman of Texas Realtors. “We celebrate the process and its success, and congratulate NAR President Vince Malta and his team for this milestone.”

Works cited. https://www.nar.realtor/newsroom/nar-boardof-directors-approves-new-personal-conductpolicy-addressing-discrimination. https://www.housingwire.com/articles/afterseveral-disturbing-incidents-nar-amendscode-of-ethics-to-include-realtors-personalbehavior/.

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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.

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THE POWER IS NOW MAGAZINE | DECEMBER 2020

BIDDEN: HERE’S MY PLAN FOR YOUR STUDENTS LOANS

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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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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.

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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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PROPTECH:

RE-EXAMINING THE WORLD POST-COVID-19. IS PROPTECH THE NEW DIRECTION?

COVID-19

made a strong wave across the world,

with many businesses closing. Regulations were made to curtail the virus, and it brought about a new perspective of approaching things across the globe. Social distancing is one of the new rules and working from home is a new trend.

Though the pandemic is not over yet, there has been a significant decrease in the way it spread, and the number of infected people has significantly reduced. Now, we should begin to talk about the world post-Covid-19. The truth is, things will never remain the same. The global pandemic challenged the world, hence, spurning many old methods of doing things and giving innovation a chance.

PropTech — Property technology or real estate technology is defined

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by Wikipedia as the “application of information technology and platform economics to real estate markets.” PropTech has been used for years in the real estate industry, but it is not very popular.

It involves the use of technological materials like smartphones for real estate transactions.

PropTech, therefore, helps to reduce paperwork or physical meetings. Its principle aligns with the social distancing regulations enforced around the world to curtail the virus. Thus, with PropTech, investors, agents, and homeowners were still able to deal during the lockdown. PropTech allows them to perform their transactions directly from the comfort of their home without stepping an inch outside. With it, they can see the property they desire to purchase, its features, and several other things they need to know.

It is no gainsaying that PropTech helps to increase the speed of transaction, reduce stress, saves time, and it’s more efficient. The question now is, will its use continue to be widely accepted post-Covid-19, the way it was adopted during the pandemic? The answer is yes. Seeking comfort is human nature. If I can get something done efficiently in my comfort, why should I leave my comfort to get the same thing done?

PropTech is the new Direction in the real estate world. The modern real estate market is beyond physical presence and interaction. It involves

property management using digital dashboards.

This means investors can be anywhere and still effectively manage their property. It allows them to invest their time in several other ventures. The contemporary modern real estate market also includes listing services/tech-enabled brokerages, smart home technology, 3D-modeling, and mobile application.

With this widely adopted approach, no one has anything to lose. It’s a win-win for both seller and buyer. Adopting a modern technology of this nature will help increase the number of estate transactions. Initially, purchasing a property depends mainly on the availability of the investor.

Investors might have everything required, especially the needed fund, yet, if the time factor is out of it, then the transaction might be delayed for a longer time. Fortunately, Covid-19 has allowed everyone to adopt better approaches. Now, the factor of time is out of the equation. Investors and sellers can meet and complete a transaction online without necessarily having physical contact.

However, it seems the pandemic has been kept under control, and activities are already returning to normal. Some investors might still desire to meet their seller in person and also physically see the property they wish to purchase. This still doesn’t mean property technology will be thrown out of the window, and people will return to their traditional business ways. PropTech is the new direction, and it has come to stay because of its fantastic contributions to the real estate market. It is the latest trend that should be adopted by any homebuyer or seller that desires to save time and money.

References https://news.crunchbase.com/news/the-new-proptechstartups-focused-on-saving-time-and-money-will-thrive/ https://en.m.wikipedia.org/wiki/Property_technology

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HOME-BUILDERS IN MARYLAND PREPARE FOR A SURGE IN OUTER SUBURBS’ PULLBACKS FROM URBAN CENTERS

Emerick A. Peace

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n the wake of Coronavirus, large cities and metropolises are left reeling from the economic downturn and high death rates that are precipitated by a range of city factors such as population density, overtaxed labor force, high level of unemployment, and a burdened health sector. Covid-19 is spread rapidly in places that are crowded. The victims cannot receive adequate care because of limited medical personnel and resources. The death toll results in an overtaxed labor force, and this is coupled with a high level of unemployment because the ability of the state to create jobs is compromised.

Migrating to the suburbs, away from big cities and bustling urban centers has never been a more appealing prospect than it is right now.

Homebuilding industries and agencies are scrambling around in their bid to make the most of this season.

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Homebuilding is fast escalating all around, instilling confidence and excitement in contractors alike as cities and metropolises are being evacuated for the less-crowded, more spacious allure of the suburbs. DeeDee Miller, President of Maryland’s Realtors, admitted that the pandemic brought about unprecedented low interests that made affordable housing an achievable feat.

To kick-start the economy from the Coronavirus’s devastation, the Federal Open Market Committee (FOMC) lowered the target rate. As a result, housing starts (housing starts indicate the number of new private homes coming under construction), building permits (building permits reveal the prevailing trends and direction in the housing sector), and pending home sales are continuously rising while construction loan interest rates are decidedly low to encourage l

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more accessibility of funds.

Maryland has been said to experience the best and worst of the housing crisis. For example, Prince George’s County in Maryland supposedly saw a very high level of foreclosure rates while some areas experienced a temporary dip this year, but Maryland is still maintaining its sustainable levels.

According to property investors in Maryland, the record-low interest rates have made home prices more affordable while making it possible to borrow more funds. Cheaper financing expenses motivate home builders to increase the building and renovating of new and existing homes.

In preparing for the surge in home buyers and investors, home builders are buying out small-time regional builders as a way of expanding into new markets. Large industries and companies secure access to the country’s most desirable locations in the suburbs and exurbs in Maryland. These large industries and their smaller counterparts take preemptive steps to obtain debts and equity financing for large construction projects.

Lawrence Yun, the chief economist at the National Association of Realtors (NAR), pointed out that inventory has been tight for the past months and consumer demands far surpass the housing market listings; a typical case of unmatched demand-andsupply metrics.

Therefore, it comes as no surprise that the sales of homes far outweigh the asking

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prices, much to the delight of the home building team and realtors who try to make the most of this by increasing their land holdings and inventories.

It is worth noting that these unmatched metrics in demand-and-supply have led to the increase in housing starts, double increase in the price of lumber since April.

In the stock market, shares of home builders are fast on the rise as they enjoy the benefits of a competitive housing market where migrants clamor for the best home deals in the suburbs that afford them more work-from-home space and sets a slower pace compared to the noisome and fastpaced nature of the cities.

For homebuilders, the housing market has been favorable and, so far, has offered many opportunities for growth and development, especially in the Suburban areas.

References https://www.google.com/amp/s/www.washingtonpost.com/ news/where-we-live/wp/2015/04/14/suburban-marylandareas-where-houses-are-selling-quickly/%3foutputType=amp https://www.valueline.com/Stocks/Industries/Industry_ Overview__Homebuilding.aspx#.X7e4rnoo_qB https://www.google.com/amp/s/www.baltimoresun.com/ business/real-estate/bs-pr-bz-baltimore-real-estate-pandemicboom20201029-f3l34p5nsfafbahh5sebayvmzqstory.html%3foutputType=amp

THE POWER IS NOW MAGAZINE | DECEMBER 2020

COVID-19 ROADMAP AND THE SEARCH FOR VACCINE

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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 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.

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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 38

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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

A 57-UNIT MIXED-USE COMPLEX PROPOSED NEAR ROSELLE PARK TRAIN STATION

Jerel Washington PLANNING OF DEVELOPMENT, ESPECIALLY IN THE MIDDLE OF A PANDEMIC, IS ALWAYS AN EXCELLENT INDICATOR THAT THE ECONOMY IS STRONG. THIS IS WHAT IS HAPPENING IN NEW JERSEY. IN THE SUBURBAN OF UNION COUNTY, ALONG THE RARITAN VALLEY LINE, A GROUP OF INDUSTRIAL AND COMMERCIAL PROPERTIES COULD SOON BE THE SITE FOR DEVELOPING A NEW MIXED-USE UNIT.

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he pieces of land, located at 118, 120, 130, and 138 West Webster Avenue in Roselle Park, are the center of discussion of an application package submitted by 140 W. Webster Ave, LLC. The current premises sitting on the land cover more than an acre near Roselle Park High School and the Locust Street entrance to the Roselle Park Train Station. The site has been occupied for years by companies including C&M Pools and H&H Engineering Associates. If the plan is passed by the local authorities, the existing structures will be demolished to pave the way for the new development.

According to a November 3 memo from Neglia Engineering Associates to the Roselle Park Municipal Land Use Board, the proposal constitutes a three-story unit, with 57 residential units and 4,000 square feet of retail space. The memo further 42

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indicated that six of the residential units would be “affordable.” The memo also noted that there would be 38 one-bedroom units, 18 two-bedroom units, and one three-bedroom unit, along with 92 parking spaces in the project.

According to site plans sent to Jersey Digs by Roselle Park municipal authorities from GK+A Architects, the development will include a roof deck and 1250 square feet of an outdoor public plaza.

The Roselle Park Municipal Land Use Board was set to hear the development plans during its meeting scheduled for November 16, 2020.

Work cited. https://jerseydigs.com/57-unit-mixed-use-complex-proposednear-roselle-park-train-station/#:~:text=The%20proposal%20 involves%20a%20three,according%20to%20a%20public%20 notice.

THE POWER IS NOW MAGAZINE | DECEMBER 2020

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 44

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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 has crashed many sectors in the economy, and now the U.S is facing dark times ahead, especially with the coming winter season. Amidst the chaos and havoc wrecked on the nation by Covid-19, a range of other hot-button issues such as immigration, tax, and racial issues are tearing the country apart.

Many of these issues are addressed in Presidentelect Joe Biden’s campaign pledges, with housing concerns fighting for equal recognition. However, it did not share the limelight with other pressing topics in the 2020 presidential campaign. With mortgage rates noticeably low and foreclosure rates high, many people are facing the daunting threat of homelessness.

PROMISE MUST BE KEPT! AFFORDABLE HOUSING GROUPS LOOK FOR BIDEN TO FULFILL CAMPAIGN PROMISES Biden has made plans that will enable more Americans to become homeowners and also have access to affordable housing. President-elect, Joe Biden proposed a $640 billion housing plan in February to take care of these concerns for the next ten years.

Sarah Saadian, vice president of public policy for National Low Income Housing Coalition, has pointed out the necessity of taking a firmer, extended eviction moratorium that protects many more people from evicted or losing their

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homes. Affordable Housing groups feel optimistic about the future of Housing under the new government. Under this new administration, resolving unemployment levels, low-income earning, community development, racial housing disparity are all issues that will be prioritized in the enactment of this housing plan.

In the height of the pandemic, the death toll in the U.S alone has climbed over the dismal mark of 250,000 casualties (see CNN Covid-19 death toll news); this has overwhelmed the hospitality

THE POWER IS NOW MAGAZINE | DECEMBER 2020

sector much more acutely than any other sector as there has been no approved vaccine treatment forthcoming. It becomes vital to point out that the acceptable ways to stay safe are to remain at home, maintain social distancing, regular washing of hands, clean hygiene, etc. For example, a family who fails to pay their mortgage loses their home and become squatters in foreclosed homes. Their hygiene comes second to their need for shelter as they may move around aimlessly, inadvertently coming in contact with contaminated surfaces. The issue of housing is thus paramount to mass safety in this regard.

Irrespective of whatever measures are put in place, if affordable and convenient housing is not provided, adhering to the safety protocols is a moot point. Many households, especially low and middle-income, are dependent on the government to alleviate housing conditions.

The $640 billion housing plan is well-structured to address these crucial housing needs while ensuring stable, secure, and comfortable living conditions.

Housing agencies are also hoping that the provision of Covid-19 relief packages and emergency housing would go a long way in providing the support system that will make the implementation of this plan much more effective.

Regardless of the declarations and proposals, saying and doing are two different kettles of fish.

It is believed that campaign promises are mostly blandishments, and following through becomes a decision of political and informational entanglements.

However, affordable housing groups keep their fingers crossed that this new administration will do everything possible to ensure the execution of these proposals.

References https://www.housingwire.com/articles/affordable-housinggroups-look-to-biden-to-fulfill-campaign-promises/amp/ https://amp.cnn.com/cnn/2020/11/19/health/us-coronavirusthursday/index.html

WWW.THEPOWERISNOW.COM

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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

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 •

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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

MARIJUANA DECRIMINALIZATION STALLS IN N.J. ASSEMBLY AFTER LAWMAKERS ADD MAGIC MUSHROOMS TO THE BILL. SENATE MOVES FORWARD. On November 16, 2020, the N.J state Legislature had varied opinions on a bill that would put a stop to the cease of many marijuana-related arrests. The split in the state Legislature saw one chamber move the bill forward while the other one delayed a vote due to a contented provision added late the previous week that would reduce penalties for psychedelic mushrooms. The N.J Assembly called off a vote on the bill after the state Senate included an amendment that would make possession of up to an ounce of “magic” mushroom or psilocybin only a disorderly person’s offense.

“The decriminalization of marijuana debate has always been about the opportunity to address these wrongful policies and begin to reverse the damage done over decades of racial and social justice, not mushrooms,” said Assemblyman Jamel Holley, D-Union. ”It is very irresponsible and poor judgment of the New Jersey Senate to include such an amendment in the last hour.

I believe this is a poison pill.”

However, the state Senate passed the amendment 29 to four votes after a debate on it.

“How can we decriminalize a psychedelic drug called ‘magic mushrooms,’ when the basis for the decriminalization is the disproportionate impact on Black and brown communities who are arrested for marijuana?” State Sen. Nia Gill, D-Essex, said, citing her concerns with the bill for its inclusion of the magic mushroom.

On the other hand, state Senator Nicholas Scutari, D-Union, stressed that the bill does not decriminalize psilocybin mushrooms but regrades the penalties. The legislation requires a first-time offender to face a six-month jail sentence for possessing an ounce of magic mushrooms. Currently, one could get three to five years in prison.

“I still have to think about the person who is on the street corner who could get detained,” State Sen. Teresa Ruiz, D-Essex, who sponsored the bill, said, noting there have been arguments about how much marijuana

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the Legislature should decriminalize. ”And yet, two blocks down, where there will be a legal storefront, that individual could push out pounds of [marijuana] once we determine what the process looks like.”

“We have to be sure that we create concrete pathways that will take someone from the street corner to the storefront,” she added.

However, the bill must be passed by both the Assembly and the Senate before heading to the Governor’s desk.

OTHER SUPPORTING BILLS. After passing the bill that legalizes marijuana, lawmakers must still pass another bill that will see the launching of the marijuana industry, clearly outlining its rules and regulations on the issuance of its business licenses and products.

Lawmakers must also pass a separate bill to decriminalize the possession of marijuana to stop arrest as it awaits full legalization. This marks a WWW.THEPOWERISNOW.COM

very crucial racial justice advocates in reforming marijuana laws. According to ACLU, police arrest people of color 3.5 times more frequently than Whites for marijuana-related offenses.

Additional tax.

Scutari had said that he would consider an additional tax on marijuana farmers and explicit directing of funds to the cultivating communities.

Moreover, a source from Governor Murphy’s administration hinted at an agreement with top legislative leaders and sponsors to add a tax on marijuana farmers. The source further said the tax would be divided into four tiers that would incline with the drop of cannabis price.

The hearing of the bill has been postponed to a later date.

Work cited. https://www.nj.com/marijuana/2020/11/marijuanadecriminalization-stalls-in-nj-assembly-after-lawmakers-addmagic-mushrooms-to-the-bill.html.

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N.J. TO LOWER INDOOR, OUTDOOR GATHERING LIMITS AFTER A RECORD-SETTING WEEKEND OF COVID-19 CASES, MURPHY SAYS.

T

he fight against COVID-19 pandemic continues, even as efforts to come up with a safe and effective COVID-19 vaccine gets closer to bearing fruits. People across the country have reportedly relaxed and are no longer adhering to the required safety measures such as social distancing.

This has led to the return of what experts warned about, the second wave of COVID-19 infections that are spreading in different parts of the country.

New Jersey is among the places that have been hit by a strong second wave of coronavirus infections.

On the weekend ending November 15, New Jersey recorded a huge number of coronavirus infections, with 4,395 on Saturday and 4,540 on Sunday, totalling to 8,935 in a single weekend. This is a clear indicator that the second wave of infections is happening in N.J. This occurrence caught the attention of N.J authorities and required them to do something about it.

Regarding that, N.J. Governor, Phil Murphy announced on the following day that the state would be lowering the number of people allowed to attend both indoor and outdoor gatherings in its effort to fight the surging second wave of coronavirus.

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THE POWER IS NOW MAGAZINE | DECEMBER 2020

but Murphy mentioned that venues that violate the orders could have their liquor licenses taken away or worse face closure.

Gov. Murphy’s announcement, which is also an executive order, limited attendance for indoor gatherings from 25 to 20 individuals, with some exceptional events, while outdoor event attendance dropped from 500 to 150 individuals. The executive order limiting the attendance for indoor activities was set to take effect from 6 a.m. November 17, 2020, while the limit to outdoor activities was effective from November 23, 2020.

The exceptional events included the following; the current 25% capacity limits on indoor dining, legislative and judicial sessions, current indoor limits on weddings, movie theatres, funerals, performances, religious services, and political activities— which previously were required to allow up to 25% of the venue’s capacity.

However, the limits apply to house parties, holiday dinners, indoor events, and other indoor gatherings. The new limits also apply to the number of spectators allowed at both indoor and outdoor youth and

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high school sporting events and practices. The number of people allowed at indoor college and pro sporting events was limited to 10 and similar outdoor events ar 150. The audiences at outdoor concerts and performances were also limited to 150.

“We think those are steps, coupled with some of the other steps we’ve taken, which will hopefully begin to shave these numbers down,” Murphy said. “This is a lot of fatigue. It’s a lot of private-setting transmissions. Particularly with the holidays coming up, we’ve got to plead with people not to let their hair down, to be vigilant, social distance, face coverings, the basic stuff.”

Conclusively, it’s time we took this deadly disease seriously. It has already shown its true colors, and we don’t need any more proof. Let’s make personal safety our responsibility and adhere to the appropriate measures by the CDC and the authorities. If we don’t take this seriously, nothing could stop the breakout of a third or fourth wave of infections. So, please let’s stay safe for our sake and the sake of our loved ones.

Work cited. https://www.nj.com/ coronavirus/2020/11/nj-to-lower-indooroutdoor-gathering-limits-after-recordsetting-weekend-of-covid-19-casesmurphy-says.html.

NON-COMPLIANCE.

Murphy emphasized that he was aware of the difficulty in ensuring adherence to the orders inside a private residence.

However, he stated that authorities would do “everything we can to enforce compliance.”

The rewards to noncompliance are unclear,

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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.