bubbles

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All investments carry some risk, but the difference between speculating and investing is the amount of risk involved. Speculative investments are typically short-term, and far riskier than traditional investing products and strategies, and may involve the risk of total loss.

Investing typically indicates a more long-term approach to making a profit, with an eye toward managing risk.

Defining Investing and Speculation

Speculating often describes scenarios when there’s a high chance the investment will deliver losses, but also when the investment could result in a high profit. High-risk, high-reward investments include commodities, crypto, derivatives, futures, and more.

In contrast, investing generally refers to transactions where an individual has researched an asset, and puts money into it with the hope that prices will rise over time. There are no guarantees, of course, and all types of investing include some form of risk.

Examples of Investments and Speculative Investments

Assets that are thought of as more traditional types of investments include publicly traded stocks, mutual funds, exchange-traded funds (ETFs), bonds (e.g. U.S. Treasury bonds, municipal bonds, high-grade corporate bonds), and real estate.

Even some so-called alternative investments would be considered more long-term and less speculative: e.g., jewelry, art, collectibles.

Assets that are almost always considered speculative are junk bonds, options, futures, cryptocurrency, forex and foreign currencies, and investments in startup companies.

Sometimes it isn’t as simple as saying that all investments in the stock market or in exchange-traded funds or in mutual funds hold the same amount of risk, or are “definitely” classified as investments. Even within certain asset classes, there can be large variations across the speculation spectrum.
💡 Quick Tip: Before opening an investment account, know your investment objectives, time horizon, and risk tolerance. These fundamentals will help keep your strategy on track and with the aim of meeting your goals.

The Traditional Approach to Investing

When it comes to the more traditional approach to investing, individuals typically buy and hold assets in their investment portfolios or retirement accounts, with the aim of seeing reasonable, long-term gains.

Traditional forms of investing focus on the performance of the underlying business or organization, not on the day-to-day or hour-by-hour price movements of an asset.

For this reason, more traditional investors tend to rely on various forms of analysis (e.g. fundamental analysis of stocks) and analytical tools and metrics to gauge the health of a company, asset, or market sector.

Speculation: A High-Risk, High-Reward Game

The difference between speculating and investing can be nuanced and a matter of opinion. (After all, some investors view the stock market as a form of gambling.) But when traders are speculating, they are typically seeking super-high gains in a relatively short period of time: e.g., hours, days, or weeks.

In the case of commodities or futures trading, the time horizon might be longer, but the aim of making a big profit fairly quickly is at the heart of most speculation.

Speculators may also use leverage, a.k.a. margin trading, to boost their buying power and amplify gains where possible (although using leverage can also lead to steep losses).

The Psychology of Investing vs. Speculating

The psychology of a typical investor is quite different from that of a speculative investor, and again revolves around the higher tolerance for risk in pursuit of a potentially bigger reward in a very short time frame.

Long-Term Investing Speculating
Taking calculated or minimal risks Willing to take on high-risk endeavors
Pursuit of reasonable gains Pursuit of abnormally high returns
Willing to invest for the long term Willing to invest only for the short term
Uses a mix of traditional investments and strategies (e.g. stocks, bonds, funds) Uses single strategies and alternative investments
Infrequent use of leverage/margin Frequent use of leverage/margin

Historical Perspectives on Investing and Speculation

The history of investing and speculating has long been entwined. In the earliest days of trading thousands of years ago, most markets were focused on the exchange of tangible commodities like livestock, grain, etc. Wealthy investors might put their money into global voyages or even wars. Thus many early investors could be described as speculators.

But investing in forms of debt as a way to make money was also common, eventually leading to the bond market as we know it today.

The concept of investing in companies and focusing on longer-term gains took hold gradually. As markets became more sophisticated over the centuries, and a wider range of technologies, strategies, and financial products came into use, the division between investing and speculating became more distinct.

Recommended: What Causes a Stock Market Bubble?

Speculation History: Notable Market Bubbles and Crashes

The history of investing is rife with market bubbles, manias, and crashes. While the speculative market around tulip bulbs in 17th-century Holland is well known, as is the Great Financial Crisis here in the U.S. in 2008-09, there have been many similar financial events throughout the world — most of them driven by speculation.

What marks a bubble is a well-established series of stages driven by investor emotions like exuberance (i.e., greed) followed by panic and loss. That’s because many investors tend to be irrational, especially when in pursuit of a quick profit that seems like “a sure thing.”

Some classic examples of financial bubbles that changed the course of history:

•   The South Sea Bubble (U.K., 1711 to 1720) — The South Sea company was created in 1711 to help reduce national war debt. The company stock peaked in 1720 and then crashed, taking with it the fortunes of many.

•   The Roaring Twenties (U.S., 1924 to 1929) — The 1920s saw a rapid expansion of the U.S. economy, thanks to both corporations’ and consumers’ growing use of credit. Stock market speculation reached a peak in 1929, followed by the infamous crash, and the Great Depression.

•   Japanese Bubble Economy (1984 to 1989) — The Japanese economy experienced a historic two-decade period of growth beginning in the 1960s, that was further fueled by financial deregulation and widespread speculation that artificially inflated the worth of many corporations and land values. By late 1989, as the government raised interest rates, the economy fell into a prolonged slowdown that took years to recover from.

•   Dot-Com Bubble (1995 to 2002) — Sparked by rapid internet adoption, the dot-com boom saw the rapid growth of tech companies in the late 1990s, when the Nasdaq rose 800%. But by October 2002 it had fallen 78% from that high mark.

Key Differences Between Investing and Speculating

What can be confusing for some investors is that there is an overlap between investing in the traditional sense, and speculative investing in higher risk instruments.

And some types of investing fall into the gray area between the two. For example, options trading, commodities trading, or buying IPO stock are considered high-risk endeavors that should be reserved for more experienced investors. What makes these types of investments more speculative, again, is the shorter time frame and the overall risk level.

Time Horizon: Long-term Goals vs. Quick Gains

As noted above, investors typically take a longer view and invest for a longer time frame; speculators seek quick-turn profits within a shorter period.

That’s because more traditional investors are inclined to seek profits over time, based on the quality of their investments. This strategy at its core is a way of managing risk in order to maximize potential gains.

Speculators are more aggressive: They’re geared toward quick profits, using a single strategy or asset to deliver an outsized gain — with a willingness to accept a much higher risk factor, and the potential for steep losses.

Fundamental Analysis vs. Market Timing

As a result of these two different mindsets, investors and speculators utilize different means of achieving their ends.

Investors focused on more traditional strategies might use tools like fundamental analysis to gauge the worthiness of an investment.

Speculators don’t necessarily base their choices on the quality of a certain asset. They’re more interested in the technical analysis of securities that will help them predict and, ideally, profit from short-term price movements.
While buy-and-hold investors focus on time in the market, speculators are looking to time the market.
💡 Quick Tip: How to manage potential risk factors in a self-directed investment account? Doing your research and employing strategies like dollar-cost averaging and diversification may help mitigate financial risk when trading stocks.

Real-World Implications of Investment vs. Speculation

To better understand the respective value and impact of investing vs. speculating, it helps to consider the real-world implications of each strategy.

The Impact of Speculation on Markets

It’s important to remember that speculation occurs in many if not all market sectors. So speculation isn’t bad, nor does it always add to volatility — although in certain circumstances it can.

For example, some point to IPO shares as an example of how speculative investors, who are looking for quick profits, may help fuel the volatility of IPO stock.

Speculation does add liquidity to the markets, though, which facilitates trading. And speculative investors often inject cash into companies that need it, which provides a vital function in the economy.

Strategic Approaches to Investment

Whether an investor chooses a more traditional route or a more speculative one, or a combination of these strategies, comes down to that person’s skill, goals, and ability to tolerate risk.

Diversification and Asset Allocation

For more traditional, longer-term investors, there are two main tools in their toolkit that help manage risk over time.

•   Diversification is the practice of investing in more than one asset class, and also diversifying within that asset class. Studies have shown that by diversifying the assets in your portfolio, you may offset a certain amount of investment risk and thereby improve returns.

•   Asset allocation is the practice of balancing a portfolio between more aggressive and more conservative holdings, also with the aim of growth while managing risk.

When Does Speculation Make Sense?

Speculation makes sense for a certain type of investor, with a certain level of experience and risk profile. It’s not so much that speculative investing always makes sense in Cases A, B, or C. It’s more about an investor mastering certain speculative strategies to the degree that they feel comfortable with the level of risk they’re taking on.

The Takeaway

One way to differentiate between investment and speculation is through the lens of probability. If an asset is purchased that carries a reasonable probability of profit over time, it’s an investment. If an asset carries a higher likelihood of significant fluctuation and volatility, it is speculation.

A long-term commitment to a broad stock market investment, like an equity-based index fund, is generally considered an investment. Historical data shows us that the likelihood of seeing gains over long periods, like 20 years or more, is high.

Compare that with a trader who purchases a single stock with the expectation that the price will surge that very day (or even that year!) — which is far more difficult to predict and has a much lower probability of success.

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Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement. IPOs offered through SoFi Securities are not a recommendation and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation.

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*Borrow at 10%. Utilizing a margin loan is generally considered more appropriate for experienced investors as there are additional costs and risks associated. It is possible to lose more than your initial investment when using margin. Please see SoFi.com/wealth/assets/documents/brokerage-margin-disclosure-statement.pdf for detailed disclosure information.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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Source: sofi.com

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Apache is functioning normally

All eyes are on Iowa.

With rolling hills, friendly faces and unique towns that resonate with charm and innovation, Iowa has been making quite the name for itself. As many discover the allure of the Hawkeye State, the quest to identify the best places to live in Iowa has become a topic of intrigue. From bustling urban centers to tranquil suburban retreats, each spot featured below offers its own brand of enchantment, painting a picture of a state that’s as diverse as it is delightful.

  • Population: 212,031
  • Average age: 34.0
  • Median household income: $58,444
  • Average commute time: 19.2 minutes
  • Walk score: 45
  • Studio average rent: $870
  • One-bedroom average rent: $1,040
  • Two-bedroom average rent: $936

Touted as one of the best places to live in Iowa, Des Moines is more than just the state’s political pulse, it’s a metropolis that artfully marries its rich agricultural history with modern urban flair. Downtown’s historic East Village effortlessly lures visitors and locals alike with its boutique shopping, scrumptious eateries and trendy art studios, while just a stone’s throw away, the iconic Iowa State Capitol building stands with its shining golden dome.

But Des Moines doesn’t just entice with aesthetics and activities. The state capital boasts some stellar educational institutions, top-notch healthcare facilities and a robust job market, primarily driven by its flourishing insurance and financial industries. It’s a place where people find their dreams echoing in the gentle ripples of the Des Moines River and the shimmering lights of the downtown skyline.

  • Population: 74,596
  • Average age: 26.3
  • Median household income: $51,925
  • Average commute time: 20.0 minutes
  • Walk score: 45
  • Studio average rent: $1,225
  • One-bedroom average rent: $1,199
  • Two-bedroom average rent: $1,636

Iowa City is home to the esteemed University of Iowa, giving the city an undeniable intellectual and creative buzz. Literary enthusiasts might already know this gem as a UNESCO City of Literature, where streets whisper tales of famed writers and coffee shops double as hallowed writing retreats. The historic downtown district calls out with its mix of independent bookstores, quirky shops and enticing restaurants that serve everything from farm-fresh delights to international delicacies.

Beyond the allure of literature and academia, Iowa City offers an engaging lifestyle for its diverse populace. Tree-lined streets, scenic parks and an abundance of activities make it easy for residents to embrace an active lifestyle. For families, the city is a treasure trove, with top-tier schools and a strong sense of community that binds its inhabitants. From its pristine pedestrian mall to the melodious strains of live music that fill the air during citywide events, Iowa City stands as a testament to what makes the Hawkeye State so darn special.

  • Population: 66,424
  • Average age: 23.5
  • Median household income: $54,339
  • Average commute time: 19.0 minutes
  • Walk score: 42
  • Studio average rent: $840
  • One-bedroom average rent: $818
  • Two-bedroom average rent: $855

An undeniable contender for the title of one of the best places to live in Iowa, Ames is more than just a college town, though the presence of Iowa State University certainly leaves an indelible mark on its landscape. As you walk through the town, it’s hard to miss the blend of Cyclone pride and the intellectual curiosity that bubbles up from every corner. There’s a delightful alchemy here of innovation and agriculture, resulting in forward-thinking research centers, flourishing tech startups and green spaces that look like they’ve been painted right onto a canvas.

But what truly makes Ames stand out is the sense of community it fosters. The town hosts imaginative events that range from local art festivals to high-energy athletic showdowns. Families will appreciate the focus on education, with schools that aim to nurture the mind and spirit. On weekends, the streets come alive, whether it’s for a local farmers market bursting with fresh produce or for a leisurely bike ride on one of the city’s scenic trails.

  • Population: 136,467
  • Average age: 36.5
  • Median household income: $60,787
  • Average commute time: 17.6 minutes
  • Walk score: 34
  • Studio average rent: $1,150
  • One-bedroom average rent: $750
  • Two-bedroom average rent: $895

Cedar Rapids is a city that effortlessly secures its spot among the best places to live in Iowa. While some cities shout, Cedar Rapids hums. It’s this gentle, magnetic hum that draws you into its diverse neighborhoods, historic avenues and the lively currents of the Cedar River. With a moniker like “The City of Five Seasons,” one quickly discerns this isn’t just any Midwestern city. That extra ‘fifth season’ speaks to the time residents take to enjoy life’s pleasures, be it watching a theatrical performance at the Paramount Theatre or indulging in some craft beers from Clock House Brewing.

The story of Cedar Rapids is one of resilience and reinvention. From its early days as a gritty industrial hub, the city has blossomed into a center for arts, technology and sustainable living. Green spaces dot the landscape, while the downtown district buzzes with constant activity. Moreover, the emphasis on education and business opportunities makes it a magnet for growing families and focused professionals.

  • Population: 59,119
  • Average age: 37.5
  • Median household income: $73,968
  • Average commute time: 16.7 minutes
  • Walk score: 40
  • Studio average rent: $1,200
  • One-bedroom average rent: $ 650
  • Two-bedroom average rent: $850

As the state’s oldest city, Dubuque, is like a fine wine, mature, rich in character and nuanced in its flavor. Its riverfront promises adventure, whether you’re taking a serene boat ride or exploring the National Mississippi River Museum & Aquarium. The historic Fenelon Place Elevator, dubbed the world’s shortest and steepest scenic railway, offers breathtaking views of the tri-state region, a reminder of the expansive beauty surrounding this special city.

Yet, Dubuque isn’t just a feast for the eyes; it’s a hub of opportunity and community spirit. A reimagined warehouse district stands testament to the city’s dedication to progress. Education is a priority here, with top-rated schools and institutions focused on nurturing the next generation. Events like the Dubuque Farmers Market and Bix Beiderbecke Memorial Jazz Festival harmoniously weave the threads of tradition and contemporary charm, creating a palpable sense of community.

  • Population: 22,949
  • Average age: 32.7
  • Median household income: $67,474
  • Average commute time: 19.5 minutes
  • Walk score: 33
  • Studio average rent: $650
  • One-bedroom average rent: $790
  • Two-bedroom average rent: $850

Hugging the outskirts of Iowa City is Coralville, an enchanting area that frequently lands on the list of best places to live in Iowa. While its proximity to the renowned University of Iowa certainly adds to its allure, Coralville is not just an extension of its bigger neighbor but boasts a distinct identity of its own. The city’s crown jewel, Coralville Lake, beckons residents and visitors alike for sun-soaked days of boating, fishing and picnicking, while the Iowa River Landing offers a delightful mix of shopping, dining and entertainment options.

Everyday life in Coralville is punctuated by a strong sense of community. The town’s well-planned neighborhoods offer a blend of old-world charm and modern comforts, making it ideal for families, professionals and retirees. Engaging in community events, from outdoor summer concerts to ice skating in winter, ensures there’s never a dull moment.

  • Population: 70,287
  • Average age: 32.5
  • Median household income: $92,959
  • Average commute time: 21.6 minutes
  • Walk score: 34
  • Studio average rent: $1,305
  • One-bedroom average rent: $1,296
  • Two-bedroom average rent: $1,538

Rapidly evolving from its agricultural origins into a dynamic urban hub, Ankeny is where the energy of growth meets the tranquility of suburban living. Its shimmering lakes are a favorite among anglers and picnickers, while the expansive parks and green spaces showcase the city’s commitment to nature and recreation.

Yet, it’s the spirit of the community that truly sets Ankeny apart. From its top-rated schools, which focus on holistic development, to the multitude of community events that bring residents together, Ankeny is a city that celebrates togetherness and takes the happiness of its citizens seriously.

  • Population: 18,814
  • Average age: 38.4
  • Median household income: $114,905
  • Average commute time: 18.1 minutes
  • Walk score: 40
  • Studio average rent: $900
  • One-bedroom average rent: $1,023
  • Two-bedroom average rent: $1,250

Often referred to as the “City with a Smile,” Clive seamlessly weaves modernity with nature. The renowned Greenbelt Park and Trail system, spanning miles of picturesque landscapes, is the heartbeat of the town, where joggers, bikers and nature enthusiasts find their happy place.

Everyday life in Clive is characterized by a harmonious blend of community and convenience. Highly regarded schools emphasize academic excellence and personal growth, ensuring a bright future for the younger residents. The city’s robust economy, driven by a mix of local businesses and larger corporations, offers a stable platform for professionals and entrepreneurs alike.

  • Population: 39,327
  • Average age: 39.7
  • Median household income: $89,375
  • Average commute time: 19.9 minutes
  • Walk score: 29
  • Studio average rent: $1,336
  • One-bedroom average rent: $1,625
  • Two-bedroom average rent: $1,175

Part of the illustrious Quad Cities, Bettendorf is a great city in Iowa to call home. Residents find solace in the breathtaking views of the river, while kids gleefully spend hours at the Family Museum. Not to be outdone, the Isle Casino and numerous local restaurants offer adults their share of entertainment, making Bettendorf a hub of activity and relaxation in equal measure.

Yet, the essence of Bettendorf isn’t just in its attractions but in its community spirit and quality of life. With a strong educational framework and top-rated schools, the city places a high premium on nurturing the minds of the next generation.

  • Population: 41,703
  • Average age: 38.0
  • Median household income: $75,927
  • Average commute time: 19.5 minutes
  • Walk score: 32
  • Studio average rent: $895
  • One-bedroom average rent: $1,115
  • Two-bedroom average rent: $1,250

A mere stone’s throw from Cedar Rapids, Marion confidently carves out its identity among the best places to live in Iowa. A blend of historic charm and contemporary flair, Marion’s Uptown District invites with a mix of unique shops, cafes and public art displays. Add to that the rhythms of live music during summer concerts at Lowe Park and the irresistible aroma from local farmers markets, and it’s evident that Marion provides a true feast for the senses.

The city’s emphasis on community shines through in every corner. Quality education is a hallmark here, with schools that champion academics and character development. With a collection of neighborhoods offering everything from urban sophistication to tranquil suburban spaces, Marion effortlessly caters to a wide array of lifestyles. A backdrop of events, from the renowned Marion Arts Festival to seasonal parades, underscores the town’s commitment to bringing its residents together in constant celebration.

Settle down in Iowa

In the heartland of America, the search for the best places to live in Iowa unveils a treasure trove of communities that cater to every imaginable lifestyle. Together, these Iowan gems weave a compelling narrative of a state that’s poised to offer more than just a place to call home. It’s an invitation to be part of a community, to thrive amidst nature and innovation and to craft stories that stand the test of time. Indeed, Iowa entices not just with a promise of a better life but with the assurance of an experience unparalleled.

When you’re ready to find your Iowa apartment, you know where to start your search.

Source: rent.com

Apache is functioning normally

Apache is functioning normally

The high cost of housing is driving Southern California’s biggest challenges. Income is not keeping pace with housing costs. It hasn’t for at least two generations, and the problem of unaffordable shelter shows few signs of letting up.

There’s a metric called “housing burden” that lays the situation bare. Over the last 50 years, it tracks the growing, gaping mismatch between income and shelter costs in Los Angeles County.

In 1979, UCLA land experts Leo Grebler and Frank Mittelbach wrote: “As a general, time-honored rule of thumb” house prices in a community “should not exceed 2 to 2½ times the annual income” of its residents.

Within a decade, home prices began to drastically violate this rule. If it were applied today, it would mean a four-person household with the median Los Angeles County income of $98,200 could afford to buy a house that cost $245,500. However, the median home price in the county last month, according to Redfin, was $980,000.

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How did things get so unbalanced?

In the 1950s and 1960s, buying a single-family home in Los Angeles was an attainable prospect. The GI Bill and the Federal Housing Authority helped with loans and mortgage dollars (albeit primarily for white families). And home building was on a tear, thanks to the region’s pro-development political climate.

By the 1970s, however, a cascade of factors — local to global — changed the equation.

Housing prices first shot ahead of income in the mid-1970s. Analysts attributed the spike to the first cohort of baby boomers reaching home-buying age, which expanded the pool of buyers and created a seller’s market. The 1973 oil crisis and ensuing inflation pushed buyers to pay up for fear prices would rise even higher. Unrelenting demand thus not only kept pace with prices, it increased them.

Social-demographic factors also factored in. Per capita income doubled from 1966 to 1977, due in part to more women in the workplace. When federal policies struck down gender discrimination in loan and credit decisions, two-income families could qualify for larger mortgage loans, elevating the demand for higher-priced homes.

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Then land and building costs climbed, pushing prices even higher. And in 1978, Proposition 13 became law.

The ballot measure slashed property taxes and with them, funding for municipal services. Cities and towns scrambled to recoup the lost revenue. New real estate developments were “money-losers,” as urban planner and former Ventura Mayor William Fulton observed, because property taxes fell so low. Instead, municipalities turned to retail development to generate lucrative sales tax revenue. Prop. 13 thus became a powerful disincentive to build housing.

The rising slow-growth movement put another damper on housing supply. It was pushed by homeowners who resisted adding multifamily housing in single-family neighborhoods or new development in nearby open space.

One study by the California Legislative Analyst’s Office found that by the early 2000s, more than two-thirds of cities and counties in coastal California metro areas had slow-growth policies in place, and that when a community added such a policy, it resulted in a 3% to 5% increase in home prices. Moreover, the historical momentum of R-1 (single family) zoning stymied the construction of multifamily units.

The upshot of all these pressures? From 1980 to 2010 in Los Angeles, the population grew by 31.3% while housing units grew by only 20.6%.

L.A.’s spiraling housing costs paralleled trends in large, global metro regions by the turn of the 21st century, suggesting that forces beyond L.A. were also at work. In the 1990s and early 2000s, the housing bubble was driven by finance structures linked to global markets, inflows of global capital and unregulated banking practices that set off unrestrained and predatory lending and buying frenzies. Even after the 2007-09 banking crisis and Great Recession, home prices in L.A. soon regained traction.

Taking a longer view, economist Robert Shiller traced rising housing costs in the late 1980s and early 2000s across metro areas globally, including L.A. He pinned a good deal of the blame on “irrational exuberance” that motivated uncontrolled buying. The psychological draw of metro areas such as Paris, London, Sydney and L.A. reinforced the belief that land prices would continue to go up and up. Media fed these perceptions. And housing bubbles blew up.

Looking at the housing burden graph, the price surge since 2020 is truly eye-popping. Urban analyst Richard Florida attributes it to pandemic-driven demands for more housing space especially among millennials, a massive shortage of housing overall and, perhaps most disturbingly, the growing competition from large institutional investors who’ve been snapping up homes and apartments in recent years. In 2021, they bought 29% of all single-family homes in California and, with their ability to outbid other buyers, they drive up prices.

Over the last 50 years, L.A.’s housing burden has evolved from challenging to simply unsustainable. The consequences are all around us, in skyrocketing rents, a ubiquitous homelessness crisis, housing overcrowding, rising commuting times to drive-till-you-qualify exurbs, population flows out of California and intensified wealth inequality.

Solutions must come from both the housing and the income side.

Increasing the housing supply is crucial. It must be accompanied by policies that protect individual buyers from corporate competitors, ensure the ongoing production of affordable housing, and guard against gentrification.

Even more importantly, wages and salaries must climb considerably to make housing affordable again. The major employers in our region — from the movie studios to hotels to hospitals and logistics firms — must take a long, hard look at the housing burden graph and see in it their own role in widening the gap. The Writers Guild and actors’ strikes, the Unite Here Local 11 hospitality industry strike and the strike vote last week by Kaiser Permanente healthcare workers speak directly to L.A.’s housing burden.

The struggle to match income to cost of shelter is an inescapable fact of L.A. life that demands swift, conscientious redress.

Becky Nicolaides is a research affiliate at the Huntington-USC Institute on California and the West, and author of “The New Suburbia: How Diversity Remade Suburban Life in Los Angeles After 1945,” forthcoming from Oxford University Press. The data set collected for the book, a granular look at demographics from 1950 to 2010, will be published online by the USC libraries next year.

Source: latimes.com

Apache is functioning normally

Homemade scented candles: where creativity meets illumination.

It’s almost fall, which means it’s generally the best time for candles and coffee. When the first cooler breeze hits, our minds turn to all things vanilla, spice and woodsy scents. And then shortly after, we get to the holidays, when we want to smell fir, cloves and spiced berry fragrances. Unfortunately, a candle craving can get expensive, with many larger candles coming in at almost $50 each.

Rather than trade your life’s savings for a nice-smelling apartment, you can do some scented candle making on your own. Here’s how to make scented candles and fill your home with the scents of the season so you can save some money and customize each candle to your liking.

Materials you’ll need for homemade scented candles

Here are the supplies to buy for your scented candle making, some of which you may already have on hand:

  • Candle wax of your choice:
    • Soy wax flakes
    • Paraffin wax
    • A blend of the two
  • Containers for each candle (mason jars, tins, etc.)
  • Candle wicks (available at most craft stores or online)
  • Wick trimmer or scissors
  • Stirring utensil (wooden spoon or stir stick)
  • Hot glue gun, superglue or glue dots
  • Fragrance oils or essential oils
  • Dye (optional for colored candles)
  • Candy thermometer
  • Pot or saucepan
  • Glass bowl or pitcher
  • Labels or decorations

Making your own DIY scented candles at home

Once you’ve gathered your supplies, it’s time to start candle-making! The process is pretty easy, but it can get messy — especially if it’s your first time making candles. Wear an apron or clothing you don’t mind ruining and avoid using the melted wax on carpet or other surfaces that could be harmed by the wax.

1. Attach and center your wick

Start out by selecting your candle containers of choice, whether that be empty candle jars, mason jars or multipurpose jars. Make sure the container has been thoroughly washed and is completely dry. Place a dab of your glue of choice in the bottom center of the container and press the bottom of a wick into the glue. If you’re using a wider container, you have the option to do multiple wicks so that your candle will burn evenly instead of tunneling.

Cut a piece of masking tape that is long enough to fit across the top of your candle container. Using scissors, cut a hole in the middle of the tape, then pull the top of the wick through the hole. Secure the tape across the top of the candle container. You can also use a pencil to wrap the wick around and hold it up. This should keep the wick standing straight so it doesn’t fall into the wax at an odd angle and ruin the candle’s burn pattern.

2. Melt the wax

Now it’s time to melt your wax for your homemade candles. Start by filling your pot or saucepan about halfway with water, then bring it to a boil by putting it over high heat on the stove. Put your wax into the glass bowl or pitcher, then put it over the boiling water. This will form a double boiler and ensure that your wax doesn’t get too hot or burn away.

The amount of wax you’ll use will really depend on how many candles you’re making — it’s easy to simply eyeball the amount you use and maybe add a little extra to ensure you have enough. The good news is that if you end up melting too much, the wax will harden and be reusable to melt again.

To ensure your candle wax is melted enough, put the candy thermometer in the wax as it heats and bring it to about 180 degrees Fahrenheit. Once it reaches that temperature, remove the wax from the heat.

3. Add fragrance

Let the wax cool down to about 140 degrees Fahrenheit. This can vary on timing, so you can leave it alone and check back every few minutes. Once it’s reached 140 degrees Fahrenheit, you can add your fragrance of choice.

The general rule is to add one ounce of fragrance oil for every pound of wax you melt. However, you’re welcome to add less than that if you like weaker scents or more than that if you want a stronger-scented candle.

If using essential oils, you may need to add even more than that since they are typically a little weaker. Feel free to get creative and mix different essential oils to develop your own unique scent. Crafting your favorite scents is easy with these combinations.

4. Pour the wax and add decorations

You’re one step closer to your finished candle! Now, once you’ve added your fragrance, you’ll simply pour the wax into the containers you prepared beforehand. Pour it out slowly, or else it can create air bubbles in the new containers and make the top of the candle look bumpy.

For those who want to make their candle personalized, add a name for your candle with a label, or sprinkle in some dried flowers, glitter or even sprinkles for a fun decorative touch. Do this before the candle dries so it stays intact and doesn’t fall out.

5. Let it cool, trim your wick and enjoy!

Once you pour your scented candle, make sure to let it cool before you light it! Leave it for at least 24 hours to ensure it cools and sets completely. Then, trim your wick, light your candle and enjoy the soft scent as it fills your apartment.

Is making scented candles profitable?

Consider crafting more than one candle either for your own apartment or as gifts or you can also sell them! Because the wax and fragrance oils are relatively affordable, as long as you sell your candles for more than the cost of materials and factor in how much time you spend making the candles, you can sell your scented candles for a nice profit.

Must-read candle safety tips

  • Ensure you trim the wick each time before lighting your homemade candle — you’ll want it about one-fourth of an inch above the wax. If the wick is too long, it can create a large flame and the wick will get too hot and start to spark and pop.
  • Never leave your lit homemade candle unattended. It’s best if you can see the candle while it burns just in case the flame gets too big, it tips over or it catches on something nearby, like curtains.
  • When burning your homemade candles, be as safe as possible to avoid catching anything on fire or burning yourself.

Homemade scented candles made easy

Making scented candles is an easy and fun way to make your own personalized scents. While it may seem easier to buy a premade candle, seeing the fruits of your labor makes crafting a homemade scented candle a worthwhile endeavor. Start making your own candles for your apartment and invent your own delightful scents!

Wesley is a Charlotte-based writer with a degree in Mass Communication from the University of South Carolina. Her background includes 6 years in non-profit communication and 4 years in editorial writing. She’s passionate about traveling, volunteering, cooking and drinking her morning iced coffee. When she’s not writing, you can find her relaxing with family or exploring Charlotte with her friends.

Source: rent.com

Apache is functioning normally

I was waiting for the bubble chatter to heat up, and it looks like it’s finally about to.

Karl Case, one of the creators of the closely watched S&P/Case-Shiller Home Price Indices, told Bloomberg that both desert cities are “clearly in bubbles,” as both have seen the largest home price gains since the height of the previous boom.

Unfortunately, last time that happened prices came crashing down in a hurry, though that was certainly a different time, and a different housing market.

Still, if one half of the Case-Shiller duo is telling you something so ominous, you ought to listen.

In May 2013 (latest data available), the 10- and 20-City Composites recorded annual price increases of 11.8% and 12.2%, respectively, which were the strongest year-over-year gains since March 2006.

Vegas and Phoenix Have Been the Biggest Winners

The biggest winners include San Francisco (+24.5%), Las Vegas (+23.3%), and Phoenix (+20.6%).

But only the latter two seem to be bubble concerns, at least according to Case and other economists. They’re certainly in two different categories, with San Francisco protected by its unique geography, and the desert cities the complete opposite.

In both Vegas and Phoenix, developers have the opportunity to continue building out forever and ever, or so it seems. That’s not a very good buffer for home prices.

However, at the moment it’s a lack of inventory that has propped up prices, though that could all change very quickly.  And Case seems all too aware, remarking that “What can go up can go down — real quick.” And gone up it has.

Investors Doubling Down

Bloomberg cited two ridiculous examples, including a five-bedroom house that sold for $499,000 in Las Vegas last month, double the price it went for just three months earlier.

In Phoenix, a similar property went for $600,000 this month, chalking a remarkable $273,000 (+84%) gain since March. Both properties were flipped by investors for tidy profits.

With examples like this, it doesn’t take an economist to call a bubble, mini bubble, or whatever you want to call it. It’s just plain madness.

I actually know some folks out in Phoenix and they’ve expressed the same thing to me. They were underwater on their mortgages for some years, just like many others, but soon saw an opportunity to list their homes without digging into their own pockets.

Unfortunately, the moment was fleeting, and it now seems like it has passed, either because mortgage rates have shot up, or a combination of that and absurdly priced homes.

When it comes down to it, we’re looking at prices not far off from the recent boom, which only ended about five or six years ago. And with rates not much lower than the 6% or so offered back then, the notion that housing is a bargain is now dead in many parts of the country.

Heck, home prices in both Dallas and Denver hit record levels in May, surpassing their pre-housing crisis peaks reached in June 2007 and August 2006.

In other words, we’ve got a problem, seeing that unemployment is still a concern and wages don’t seem to have increased.

The only thing propping up housing at the moment is a lack of supply, but it has to shift eventually.

Still, RealtyTrac VP Daren Blomquist, who was also cited in the article, doesn’t see the carnage spreading to other cities.

He thinks the rest of the nation will do just fine, regardless of what happens in the desert. Let’s hope he’s right.

(photo: Jay Morgan)

Source: thetruthaboutmortgage.com

Apache is functioning normally

Just about everyone knows home prices have been on the mend for a while now, though in the grand scheme of things, not very long.

Still, in just over a year or so, prices have chalked double-digit gains, which is great for existing homeowners, especially those formerly in underwater positions.

Unfortunately, the rapid ascent of home prices has to have a cost, and that’s a lack of affordability, or at least reduced affordability, for new home buyers.

I myself began worrying about another bubble back in February, seeing that inventory was highly constrained and bidding wars were thrusting prices to inconceivable heights.

But as the months wore on, I realized it was just the beginning. Home prices were just starting to recover, despite not being all that far from prior bubble highs in some markets.

Now summer is coming to a close and there doesn’t seem to be any end in sight. I thought things were cooling off, but people keep buying at seemingly any price. Listing prices continue to march higher in the hot markets nationwide, and now some areas are even registering new all-time highs.

Again, great for existing homeowners looking to gain enough equity to sell, or for those who purchased a year ago when home prices seemingly bottomed.

But now comes the question of sustainability going forward. If these rapid price increases prove to be too much to bear, home prices could reverse course again.

Of course, that may not happen for years, which is the good news about what could be the beginning of a bubble.

[S&P/Case-Shiller Creator Says Phoenix and Las Vegas ‘Clearly in Bubbles’]

Affordability Below Its Long-Term Trend Line

John Carney over at CNBC is the one who uttered the “B-word,” using the National Association of Realtor’s monthly affordability index as evidence.

The index takes average mortgage rates and median home prices, and assumes a home buyer will put down 20% and keep their front-end DTI ratio at 25%.

When the index is at 100, it means households earning the median income can afford a median home price at an average mortgage rate.

But a reading of 100 isn’t good, not even close. In fact, the last time it was near 100 was in 2006, when it dipped to 101. And we all know what happened next.

This is the great flaw of relying on a real estate agent’s interpretation of affordability…things will pretty much always be affordable.

Anyway, that’s why you have to look at the long-term trend line, not whether the reading is above 100 or not.

That’s what a group of Robert Morris University researchers did – they believe a housing bubble exists when the index value falls below its trend for at least three consecutive months.

During the beginning of the year, the reading was above 200, thanks to ultra-low mortgage rates and home prices that were still unsure of their direction.

But the index has dropped steadily as both rates and prices have risen, and beginning in April of this year, the index fell below its trend line.

The reading has remained below trend ever since, so by the researchers’ measure, we are in a housing bubble.

Bubbles Take a While to Pop

Here’s the good news. Despite apparently being in a housing bubble, it generally seems to take a while for the bubble to inflate and eventually pop.

So just because we’ve started a new bubble doesn’t mean housing is dead.

The Robert Morris economists said affordability fell below trend in early 2004 and it wasn’t until mid-2006 that home prices peaked and began to nosedive.

And seeing that there are more safeguards in place this time around, it could take even longer for the bubble to generate to full size and burst.

At the moment, most homeowners are opting for long-term fixed mortgages, and other than the FHA, most borrowers are required to put a fair bit of money down.

There also aren’t many high-risk loan programs available in the market, unless you consider ARMs, which could balloon higher by the time their first adjustment period comes along.

Perhaps this latest bubble, assuming it exists, has been driven by low mortgage rates, whereas the previous one was fueled by easy credit, including subprime mortgages.

Hopefully this one ends a little better.

Source: thetruthaboutmortgage.com

Apache is functioning normally

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The best-kept secret for interior designers isn’t so secret anymore. Every year, Etsy sells millions of handmade, one-of-a-kind, and vintage items created by independent sellers around the world.

Popular for design experts, DIYers, and anyone interested in buying unique items from an online global marketplace, Etsy has a huge fan base. In fact, every 15 seconds, someone searches Etsy online for vintage or handmade furniture.

A recently released study, The Top 2023 Home Décor Trends, According to Etsy, reveals the top home décor trends so far this year, and interior design experts agree. While some trends from 2022 are still going strong, the latest emerging trends are rooted in tradition and a little unexpected.

Vintage Patterns

Younger generations are into old-school patterns. Nostalgic, beautiful, and cozy, these patterns are everywhere, from teacups to furniture, fabric, and wallpaper. Between February and April this year, Etsy saw drastic increases in online searches for various types of vintage patterns in home décor. For example, embroidered botanical pieces saw a 1,041% increase, while vintage wallpaper saw a 162% increase, and floral home décor saw a 118% jump.

Dayna Isom Johnson, an Etsy trend expert and author of ‘The Top 2023 Home Décor Trends, According to Etsy,’ provided further insight into one of Etsy’s most popular trends while chatting with the New York Post. “Reminiscent of old country charm, traditional patterns like toile, chintz, and vintage floral prints are popping up everywhere from textiles to teacups, introducing a touch of eclectic nostalgia straight out of our regency romance dreams.”

Evelina Juzėnaitė, Principal Interior Designer at Planner 5D, also believes vintage is making a comeback. “This furniture seamlessly blends with various interior styles; it’s available in different colors and integrates bright elements. Before, clients used to prefer more neutral tones – brown, grey, etc. Now they are not afraid of something bright; it is not necessarily a sofa, but even bright cushions, vases, etc., which significantly impact the overall interior,” she points out.

Parisian Interiors

Chic Parisian interiors are a mix of classic and contemporary, often with dark woods, light walls with vintage finds like oil paintings, ornate frames, marble accents, and gilded mirrors. In the three months leading up to their 2023 study, Etsy saw increases in online searches for Parisian home décor pieces, including a 119% increase for wall mirrors, 96% for marble sinks, 67% for custom oil paintings, and 44% for ruffled duvet covers.

Regarding larger home décor pieces, Parisian interiors often showcase round furniture with dramatic curves. The movement is seen in either the sofa’s wings, arms, back, or the entire sofa itself, and the shape is often the furniture’s main attraction, not any added detailing.

Michelle Minch, LA Homes Stager and Chief Design Officer at Moving Mountains Design, attended the MOM Furniture Market in Paris earlier this year. She noticed that many pieces were curved and rounded and that Boucle’s fabrics were everywhere. After returning to the U.S., Michelle Minch received notifications from US vendors indicating new inventory – “it was all curves and lots of Boucle’! I am starting to see this trend showing up in interior design and home staging projects now.”

Evelina Juzėnaitė of Planner 5D agrees that curved elements are regaining popularity. “From shelves and cabinets with semi-circular details to sofas and bed headboards, these rounded and curved shapes add a touch of elegance and uniqueness to any interior design.”

Mermaidcore

While this new trend is whimsical and even a little magical, the mermaid obsession has officially swum into the home décor world. Maybe the mermaidcore trend rose to home décor fame because of Disney’s live-action The Little Mermaid release.

Or maybe it’s simply because the pieces and fun, playful, and easy to incorporate into any room’s design. In further conversation with the New York Post, Etsy trend expert, Dayna Isom Johnson, states, “This emerging ocean-inspired look is a much-welcomed extension of some of our favorite existing trends – like last summer’s crustaceancore and coastal grandmother – but with a more whimsical and playful twist,”

And according to TikTok, this trend is mainstream. The hashtag now has over 375 million views, highlighting how cheerful, easy, and budget-friendly it can be to infuse interiors with shells, bubbles, sea glass, pearls, and under-the-sea shapes. According to Etsy’s study, between February and April this year, Etsy saw increases in online searches for mermaid-core home décor items, including a 125% for scalloped runners, 30% for oyster shell ring dishes, 24% for mother-of-pearl trays, and 22% for bubble light fixtures or pendants.

Nature-Inspired Décor

According to Etsy, online searches for nature-inspired décor increased 218% between February and April 2023. A trend going strong since 2022, Evelina Juzėnaitė of Planner 5D states Biophilic design, which emphasizes a connection between nature and the artificial environment, is on the rise. She added, “There is a growing interest in adding plants, natural materials such as stone, wood, concrete, etc.,” claiming that “Such an interior seems soothing to many and creates a natural atmosphere.”

Jewelry for The Home

Small details can make big statements. Jewelry for the home adds eye-catching details that make interiors unique and oftentimes a little luxurious. From brass hardware to suncatchers, wall hooks, and knobs — a little jewelry is interesting and fun. and people are into it. Etsy saw a whopping 139% increase in gemstone décor this year.

Dark Wood

Light-colored Scandinavian-inspired wooden pieces are out, and darker, traditional-colored wood is in. According to Etsy, the company saw a 337% increase in online searches for walnut-colored desks and accessories and a 24% decrease in online searches for Scandinavian décor.

Dayna Isom Johnson, the Etsy trend expert, gave insight into the increased popularity of dark wood in home décor, stating, “Darker woods create a sense of warmth and coziness into a space while also providing a touch of character and sophistication to a room.”

Paper Lighting

What’s old is new again. Paper lighting of all sizes is playful yet practical, and online shoppers are taking notice. Etsy saw an 85% increase in online searches for hanging paper lanterns, a 61% increase for rice paper lighting, and a 24% increase for paper floor lamps. Their unique ability to diffuse light and create a warm atmosphere will help paper lighting stay on trend for the remainder of the year.

Rugs With Personality

Handwoven rugs of all different colors, styles, and textures saw a 401% increase in online searches on Etsy. Custom rugs saw a 62% increase, colorful rugs saw a 55% increase, and wavy rugs saw a 49% increase. Adding style and personality to any home, rugs are a great way to transform a room by adding texture, pattern, and color.

This article was produced and syndicated by Wealth of Geeks .

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Source: eagletribune.com

Apache is functioning normally

Warmer weather and longer days call for firing up the grill and cooking delicious food. But you may need to take extra precautions. Grills cause an annual average of roughly 10,600 home fires each year. With less space, apartments are especially susceptible. Nothing puts a damper on summer barbecues like a visit from the fire department or having to head to the emergency room to deal with burns.

Luckily, these grilling safety tips will keep you, your family, your neighbors and your apartment safe.

Top tips for apartment grill safety

Prevent accidents and serve up some of the best barbecue cooking around with these grilling safety tips.

1. Check your local laws and regulations

For fire hazards and health and safety reasons, many municipalities, cities and towns have rules about grilling near or around apartment buildings and multi-family housing developments. Sometimes, landlords prohibit certain types of grills, while other times they’ll keep the grill a certain distance away from a structure.

2. Make sure you’re allowed to have a grill in your apartment

First things first, you should never use a grill intended for outdoor use inside your apartment. The smoke and flames can set off fire alarms, start fires and produce toxic amounts of carbon monoxide. No apartment complex will let you use an outdoor grill indoors. If they do, run as far away from that property as possible. It’s probably not a safe place to live if they allow you to grill inside. So, don’t even think about grilling inside your apartment. Try other options like ovens or stoves.

Secondly, you need to double-check what rules your landlord or apartment building has about using grills. Some may allow it with conditions, while others will flat-out prohibit it. Before investing in that great grill you saw, confirm your apartment complex and landlord actually allows it.

3. Can you use gas grills or charcoal grills?

Similar to reading the fine print of your rental agreement to see where you can use a grill in your apartment, you also need to see if there are rules about what kind of grill you can have. There are many different kinds, from solid-fueled grills to gas or charcoal.

Charcoal and gas grills are the two most popular and best known. Charcoal grills are great for adding a smoky flavor to your food. Gas grills use either propane tanks or natural gas. If your apartment doesn’t allow either of the above, electric grills are safe, easy to use and just as good at cooking as the other options.

4. Figure out where you can have a grill in your apartment

Location, location, location. When it comes to grills, it’s one of the most important factors. Your landlord might have strict stipulations about where you can use and store a grill. Some will allow grills on balconies or patios but may have specifications about how far to keep it from the building. It’s possible to safely grill on patios and balconies provided it’s not enclosed and the grill isn’t close to anything flammable.

5. Keep the grill secure

One minute, you’re grilling on your balcony or patio, preparing delicious food for your family and friends. The next minute, a strong gust of wind blows it over. Secure your grill to something sturdy and non-flammable using a strong chain. Also, keep it on a flat surface where it can’t roll away or fall over.

6. Keep starter fluids out of reach and safely stored

Another apartment grilling safety tip is to keep anything that could provide fuel and boost flames or coals away from the grill when not in use. This includes charcoal starter fluid, lighter fluid and any other flammable liquids. Securing them inside a metal container is one option.

Potentially dangerous grill accessories, like the meat thermometer, should also be kept out of reach of tiny hands.

7. Have a fire extinguisher on hand

You should have one in your apartment already. But just in case you don’t, make sure to get a fire extinguisher to keep by your grill.

8. Keep baking soda and salt close by

If you have a gas grill or charcoal grill, these two basic ingredients are your two best friends. Why? They’re excellent tools for stopping fires. In the event of gas grill fires or a grease fire, remain calm and follow these steps.

First, turn off the heat source if you can. Next, try to smother the flame to cut off its oxygen. This could be closing the grill tightly or placing a pot or pan over the flame. If you can’t cover the open fire completely or safely, throw salt or baking soda over it to extinguish the flame.

One thing to remember: NEVER throw water on grease fires. It will only cause flare-ups and make the fire even bigger.

9. Keep your grill clean

It’s important to keep your grill clean of built-up fat, cooking residue and other detritus. Fat buildup on grills can cause flare-ups as it melts and drips onto coals or other heat sources. So, make sure to thoroughly clean your grill after each use.

10. Keep the grill away from flammable materials

Place your grill in an open area far from anything that could easily catch fire. This is anything from other structures, like wooden partitions or columns on a balcony, to hanging baskets or furniture. Also, be careful of things like apron strings, shirttails and loose clothing. All it takes is one gust of wind to blow an apron string too close to the coals and lighting on fire.

11. Keep grills in a well-ventilated area

Smoke and carbon monoxide build-up are serious risks, so make sure to grill in well-ventilated, open-air places.

12. Check your gas grill or propane grill for leaks

A gas leak can turn grilling time into a disaster in no time at all. To check for leaks, mix some water and light soap together to form a soapy water solution. Using a spray bottle or brush, apply the mixture to the connection spots between the gas source and grill. Turn the gas grill on and watch for bubbles forming in the solution. If you see bubbles, that means there’s a leak.

Check for leaks when you haven’t used the grill in a while.

13. Keep children and pets away unless supervised

Never let young family members, children or pets play or hang out too close to the grill. Bumping into the grill can cause burns or worse.

14. Never leave the grill unattended while cooking

It doesn’t just put your meat and food at risk of overcooking or burning. Leaving your grill unattended is an invitation to all sorts of problems. Something could catch fire or someone could hurt themselves. Always monitor the grill when it’s in use.

Even after cooking, keep the lid closed at all times. Charcoal can stay hot for hours, and hot coal blown out of the grill can start a fire.

15. Keep a first aid kit handy

Hopefully, you won’t have to use it because you’ll be using all of these grilling safety tips. But sometimes, hot fat drips or grease can splash onto skin, in which case it’s great to have a first aid kit close at hand.

16. Use the common area grill

Some apartment complexes will have community grills in communal outdoor areas for everyone’s use. If you’re prohibited to have a grill in your own apartment, this is a great backup option for grilling food for events and gatherings.

All the above safety tips should still be closely followed. Since anyone in your building can use the grill, you don’t have a guarantee that everyone is taking proper care of the grill, like cleaning it correctly or frequently enough.

17. Use an electric grill

If you can’t have a gas or charcoal grill and your apartment building doesn’t have communal ones, you can always invest in an electric grill for indoor use. Completely safe for indoor use, an electric grill will still meet all your grilling needs without potentially lighting home fires.

Grill safely and happily with these tips

Just because you live in an apartment doesn’t mean you have to forego homemade barbecue. With these grilling safety tips, grill and cook food safely in your apartment without worry.

Zoe Baillargeon is an award-winning writer and journalist based in Portland, Oregon, where she covers a variety of beats including travel, food and drink, lifestyle and culture for outlets like Apartment Guide, Rent., AFAR.com, Fodor’s, The Manual, Matador Network and more. In her free time, she enjoys traveling, hiking, reading and spoiling her cat.

Source: rent.com

Apache is functioning normally

President Barack Obama said a lot of things during his annual State of the Union Address before Congress last night, but he didn’t utter any of the following words or phrases:

– Mortgage
– Home loan
– Bank
– Lender
– Refinance
– Refinancing
– HARP
– Foreclosure
– Qualified Mortgage
– Home prices
– Mortgage rates
– Fannie Mae
– Freddie Mac
– FHA

In many of his previous addresses, the ongoing housing crisis was at the forefront, but it appears we have turned the corner.

After all, it is 2014, and stuff hit the fan all the way back in 2007-2008, so it’s been quite a while now.

In fact, the only thing he mentioned about the housing market was that it was “rebounding,” and that taxpayers shouldn’t foot the bill for a housing crisis ever again.

Housing Mission Accomplished

So this can be taken as good news, as mission accomplished on the housing front. Foreclosures are down, home prices are up, there are fewer underwater homeowners, mortgage rates are still low, and there’s no longer a need to even talk about it.

Yes, there will continue to be short sales, foreclosures, strategic defaults, and even mini housing bubbles, but the chaos seems to be contained for now, until the next major misstep.

While this is welcome news, and something we should surely sit back and appreciate, as opposed to worrying about what will happen next, it does mean the government handouts are likely up.

The Home Affordable Refinance Program (HARP) is winding down, though millions are apparently still eligible. And as more time passes, the less likely a new extension of the popular program becomes.  HARP 3?  Doesn’t sound like it to me.

Counselor to the Secretary of the Treasury for Housing Finance Policy Dr. Michael Stegman echoed this last week.

That’s the bad news. With things looking up, expect to go it alone moving forward. Expect stringent underwriting guidelines, higher down payment requirements, steeper asking prices, and more expensive mortgage rates.

And fewer incentives to buy a home other than the fact that you want/need one to live in.

(photo: Rupert Ganzer)

Source: thetruthaboutmortgage.com