Thursday, March 22, 2018 / by Carl Gentile
Rising Mortgage Rates DO NOT Lead to Falling Home Prices
Recently, Freddie Mac published an Insight Report titled Nowhere to go but up? How increasing mortgage rates could affect housing. The report focused on the impact the projected rise in mortgage rates might have on the housing market this year.
Many believe that an increase in mortgage rates will cause a slowdown in purchases which would, in turn, lead to a fall in house values. Ultimately, however, prices are determined by supply and demand and while rising mortgage rates may slow demand, they also affect supply. From the report:
“For current homeowners, the decision to buy a new home is typically linked to their decision to sell their current home… Because of this link, the financing costs of the existing mortgage are part of the homeowner’s decision of whether and when to move.
Once financing costs for a new mortgage rise above the rate borrowers are paying for ...
Sunday, January 7, 2018 / by Carl Gentile
With the new tax laws and states struggling to collect revenues and in turn raising tax rates, the well to do, and even the not so well to do, are looking for ways to minimize their income tax bills. Income tax coupled with state death taxes - think about Connecticut, Illinois, Maryland, Massachusetts, New Jersey, New York and Pennsylvania - or even just think of one, California, with the highest personal income tax rate of 13.3% but no state death tax, the incentives for the wealthy to look for a more desirable (as in less taxing) place to call home are enormous.
5 Advantages of Becoming a Florida Resident
Florida is a state that is frequently mentioned when the wealthy are looking to make a move to a less taxing state. But the absence of taxes is not hte only reason Florida is such an attractive place for the well to do to move. Couple beautiful beaches and weather with the following five things and Florida stands out pretty quickly as a place for the well to do, as we ...