Funds intended to benefit rehabilitation, home ownership through down payment assistance and affordable housing development in Kentucky, Ohio and Tennessee
CINCINNATI , May 9, 2023 /PRNewswire/ — The Federal Home Loan Bank of Cincinnati’s Board of Directors has approved a $12.8 million contribution to support the Bank’s housing and community investment programs. These funds will increase amounts available in 2023 for the Carol M. Peterson Housing Fund (CMPHF), Welcome Home Program (WHP) and, if available, competitive Affordable Housing Program (AHP) offering.
The CMPHF will open June 1 with funding of at least $5.0 million, an increase of $3.5 million from previously announced levels. The CMPHF offers grants to fund accessibility rehabilitation and emergency repairs for low-income homeowners with special needs or persons over 60.
The WHP will open July 6 and will offer at least $7.0 million in grants, an increase of $4.0 million from previously announced levels. The WHP offers $10,000 in down payment and closing costs assistance to low- to moderate-income homebuyers and $15,000 to honorably discharged veterans, surviving spouses of military personnel, and active duty military.
Any remaining funds not used under the CMPHF and WHP will be allocated to the 2023 competitive AHP offering.
“The FHLB Board of Directors’ clear commitment to affordable housing is evident through this additional $12.8 million contribution. These funds will help supplement two of our most popular programs that address the specific housing needs of the areas we serve—access to home ownership and quality of housing stock. By getting more homebuyers into homes through our Welcome Home Program and keeping them there as they age through our Carol M. Peterson Housing Fund, these funds will make a difference in communities throughout Ohio, Kentucky and Tennessee,” said Andrew S. Howell, President and CEO, FHLB Cincinnati.
This allocation is in addition to the FHLB’s required 10 percent of net earnings set-aside to fund the organization’s AHP. Since the inception of the AHP in 1990, the FHLB has awarded over $849 million in subsidies towards the creation of more than 105,000 units of affordable housing. Details and program guides for all housing programs, including eligibility information, are available at www.fhlbcin.com.
About the FHLB
The FHLB is a AA+ rated wholesale cooperative bank owned by 614 member financial institutions, including commercial banks, thrifts, credit unions, insurance companies and community development financial institutions in Kentucky, Ohio and Tennessee. The FHLB provides members access to products and services (primarily Advances, which are a readily available, low-cost source of funds, purchases of certain mortgage loans from members, and issuance of Letters of Credit to members) and a competitive return through quarterly dividends on their capital investment in the FHLB. The FHLB funds these products and services by raising private-sector capital from member-stockholders and, with the other Federal Home Loan Banks (FHLBanks) in the FHLBank System, issuing high-quality debt in the global capital markets. The FHLB also funds community investment programs that help its members create affordable housing and promote community economic development.
Whether you’re deciding on a new career path or wondering whether you’re being paid enough, it can help to know what the typical American worker earns per year.
Based on the latest data available from the Social Security Administration (SSA), the average annual pay in the U.S. in 2021 was $60,575 — an 8.89% jump from the previous year. The U.S. Bureau of Labor Statistics (BLS) estimates the average worker made closer to $67,610 that same year. The amount you make may depend on a number of factors, including your occupation, where you live, your gender, and your level of education.
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Key Findings
Let’s take a closer look at how the average annual pay in the U.S. has changed over a three-year period based on data from both the SSA and BLS.
Year
Average Annual Salary per SSA
Average Annual Salary per BLS
2019
$54,099.99
$59,209
2020
$55,628.60
$64,021
2021
$60,575.07
$67,610
It can also be helpful to look at median earnings, which represent the midpoint of salaries in the U.S. In other words, half of the salaries fall below the median, and half are higher than the median.
The following table shows the median annual salary for a three-year period.
Year
Median Annual Salary
2022
$54,132
2021
$51,896
2020
$51,168
Source: BLS
As you can see, average and median incomes have risen each year. However, average salaries can be affected by various factors such as your occupation, age, and gender. Note that the numbers above also don’t include unearned income.
Examples of High-Salary Jobs in the US
Some industries tend to pay more than others, which means the career you choose may affect how much you earn. Here’s a sampling of high-paying jobs and their average annual salary, according to the BLS:
• Cardiologist, $353,970 per year
• Dentist, $177,770
• Aircraft pilots and flight engineer, $169,540
• Lawyer and judicial law clerk, $146,220
• Public relations manager, $138,000
• Air traffic controller, $127,920
Recommended: How to Reduce Taxable Income for High Earners
Average American Income by Occupation
While salaries tend to vary based on geography, seeing how much certain types of jobs pay can be informative. Let’s take a look at different occupations and how much they typically pay.
Occupation (Type)
Average annual salary
Management
$123,370
Legal
$113,100
Computer and Mathematical Operations
$99,860
Architecture and Engineering
$91,740
Healthcare Practitioners and Technical
$91,100
Business and Financial Operations
$82,610
Life, Physical, and Social Science
$80,730
Arts, Design, Entertainment, Sports, and Media
$66,100
Educational Instruction and Library
$62,140
Construction and Extraction
$55,900
Community and Social Service
$53,960
Protective Service
$53,420
Installation, Maintenance, and Repair
$53,380
Sales (and Related)
$46,080
Office and Administrative Support
$43,430
Transportation and Material Moving
$41,340
Farming, Fishing, and Forestry
$34,730
Building and Grounds Cleaning and Maintenance
$33,750
Personal Care and Service
$33,620
Healthcare support
$33,330
Food Preparation and Serving Related
$29,450
Source: BLS, May 2022 data
Keep in mind that average salaries may differ depending on the specific occupation you have. For example, although claims adjusters fall under the business and financial operations category, their average salary is around $70,960.
US Income by Gender
Demographics, specifically gender, are another factor to consider. By and large, men tend to outearn women throughout their career. The median annual salary for a 16- to 24-year-old man is $33,800; a woman of the same age earns $31,460, per the latest data available from the BLS. Likewise, the median annual salary for a man aged 25 and older is $60,320; a woman of the same age earns $49,608.
Median Income by State
Wages often vary based on where you live. In many cases, states with higher costs of living also have higher wages. For example, the median annual income in Hawaii is $100,532 — much higher than Mississippi’s median annual income of $61,205.
Below is the median income by state for a household of three people, according to data compiled by the Census Bureau between April 1 and May 14, 2022.
State
Median annual income
Alabama
$70,250
Alaska
$108,072
Arizona
$79,110
Arkansas
$70,169
California
$97,092
Colorado
$100,744
Connecticut
$108,409
Delaware
$96,841
District of Columbia
$138,342
Florida
$75,057
Georgia
$79,980
Hawaii
$100,532
Idaho
$76,635
Illinois
$97,067
Indiana
$81,783
Iowa
$85,758
Kansas
$88,369
Kentucky
$71,501
Louisiana
$71,371
Maine
$87,051
Maryland
$113,994
Massachusetts
$117,415
Michigan
$84,245
Minnesota
$106,445
Mississippi
$61,205
Missouri
$80,022
Montana
$79,652
Nebraska
$91,076
New Hampshire
$113,013
Nevada
$91,076
New Jersey
$117,697
New Mexico
$66,183
New York
$96,854
North Carolina
$76,386
North Dakota
$94,950
Ohio
$82,734
Oklahoma
$71,397
Oregon
$93,773
Pennsylvania
$92,441
Rhode Island
$101,104
South Carolina
$75,128
South Dakota
$87,475
Tennessee
$75,394
Texas
$80,733
Utah
$90,629
Vermont
$92,628
Virginia
$102,869
Washington
$104,644
West Virginia
$71,757
Wisconsin
$92,586
Wyoming
$88,902
US Income by Race
As the BLS data below shows, there is often a pay disparity among workers of different races and ethnicities.
• Asian, $69,056 per year
• White, $52,936
• Black or African American, $41,652
• Hispanic or Latino, $40,404
How Does Your Income Stack Up?
Now that you’ve seen some of the average and median annual salaries by occupation, location, gender, and race or ethnicity, how does yours compare? If you’re not making as much as you’d like, you may want to research wages in your industry and region, and use that information to help you negotiate a higher salary. If you’re ready to make a bigger change, you can use this data as you consider whether to switch to a more lucrative field or relocate to a higher-paying region.
Recommended: How to Negotiate Your Signing Bonus
How to Stretch Your Income
Here are some different strategies to help you make the most of the money you make:
Track Your Spending
Understanding exactly where your money is going can help you keep tabs on where your money is going and identify areas where you can cut back. Consider using a spending app to track your spending and saving.
Negotiate Bills
Want to lower monthly expenses, such as your cell phone or internet services? Consider calling up various providers to see if you’re able to get a better deal or if there are promotions you can take advantage of.
Cut Back on Large Expenses
Housing, food, and transportation tend to be the largest line budget items. Explore ways to trim your biggest costs. Examples include refinancing your mortgage, negotiating your rent, shopping at discount grocery stores, and taking public transportation when possible.
Sharpen Your Marketable Skills
Accepting networking opportunities and taking professional development courses could help you become more marketable as an employee. This in turn could set you up to earn more in the long run. If you’re on a tight budget, look into no- or low-cost ways to cultivate high-income skills, and ask your employer if there are any free resources are available.
Pros and Cons of a High Salary
A high income can be great, but it does come with some downsides.
Pros:
• Improved quality of life: With more money, you can afford a higher standard of living and be able to afford different amenities such as better access to healthcare and food.
• Financial security: The more you earn, the more you can feel secure you have enough money to afford the things you want and need.
• Ability to achieve financial goals faster: Having more disposable income could mean you can set more money aside for long- and short-term savings goals, like retirement or going on a family vacation.
Cons:
• Higher taxes: Earning more can put you in a higher tax bracket. However, there are ways to reduce your taxable income.
• Pressure to maintain income: If you’re accustomed to a certain living standard, you may feel like you need to keep earning the same amount or more to maintain it.
• More work stress: In many cases, higher-paying jobs come with more responsibilities and at times, longer hours.
The Takeaway
Understanding what the average American worker makes in a year can come in handy, especially if you’re considering a new career path, negotiating a higher salary, or looking for a new place to live. According to the latest data from the Social Security Administration, the average annual pay in the U.S. is $60,575. But the amount you earn may depend on a wide range of factors, such as the industry you work in, where you live, your gender, and your race or ethnicity.
If you’re looking to make the most out of the money you earn, consider using amoney tracker app. The SoFi Insights app connects all of your accounts in one convenient dashboard. From there, you can see all of your balances, spending breakdowns, and credit score monitoring, plus you can get other valuable financial insights.
Stay up to date on your finances by seeing exactly how your money comes and goes.
FAQ
What is a good salary in the USA?
There’s no one set amount that would be considered a good salary in the U.S. However, the average salary is around $60,575, according to the Social Security Administration.
What is the real average wage in the US?
The average wage in the U.S. is $67,610 according to the most recent data available from the U.S. Bureau of Labor Statistics.
What is the top 10 percent income in the US?
According to the Economic Policy Institute, the top 10% of workers in the U.S. earn $133,482.
How much should you be making at 30?
While there is no definitive amount you should earn by the time you’re 30, the average salary for U.S. workers aged 25 to 34 is $52,832, according to statistics from the U.S. Bureau of Labor Statistics.
Photo credit: iStock/VAKSMANV
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You are here because you want to vent, so you searched “I hate my job.”
We all have that one job we hate. We might work at a place where the boss is mean, the workloads are too heavy, or maybe there’s been an issue with company culture for some time now and no amount of persuasion has worked to fix it.
If you’re reading this article right now, then you likely know exactly what I’m talking about; something just doesn’t feel as if it’s clicking anymore. The hours and days drag on trying to find your spark again and you’re just not getting anywhere.
You hate your job.
This is why it’s important to ask yourself if a career change might be the answer, or at least offer some insight into whether or not your job is worth keeping.
You hate answering the question, “what do you do for a living?”
While this may seem like an easy or daunting task, there are a few things that should help you figure out if the time has come for a change.
Are you at that moment that marked the end of any hope you may have to continue to work the job you have?
Is it normal to absolutely hate your job?
No, it’s not normal to absolutely hate your job.
Most people experience some level of dissatisfaction or unhappiness at some point in their careers.
What do you do when you hate your job but can’t quit?
You need to find a way to make this job work for you.
While it may be difficult to focus on anything other than how much you dislike your job, there are ways to make the job work for you and improve your situation.
Most importantly, you may need to adjust your expectations or find a way to deal with the negative aspects of the job.
If this is not possible or if it is not feasible, then it might be best to look for another job or transfer to a new boss.
How do you deal if you hate your job?
If you hate your job, it can be difficult to deal with. You may feel like you can’t escape or that your situation is hopeless.
However, there are things that you can do to cope and make the best of the situation:
You may find it helpful to talk to friends or family about what’s going on and see if they have any advice.
You can also try looking for other jobs or exploring options for transferring or quitting your job.
If all else fails, consider seeking professional help.
There are many ways to cope when you hate your job, and each person will react differently depending on their individual circumstances and personalities. However, most people find some way to get through tough times by proactively taking steps to find joy in their job.
How long should I stay in a job I hate?
Well, the answer depends on what your situation is and your personal options.
Staying in a job you hate pays the bills, but probably doesn’t help in the work-happiness balance.
You have probably run through all of the good excuses to miss work.
Below, you will find tips on how to cope, but more importantly, steps to change your situation for the better.
I Hate My Job – How You are Feeling in That Place
This is a difficult situation to be in.
You feel like you should love your career! You spent money on a college education, maybe this job is a transition for you, or possibly you took the job everyone expected from you.
Regardless of how you got here, you need to look for the right role and work environment for you going forward. Life stratification means something, right?
1. You’re Suffering from Workplace Burnout & It is a Problem
Workplace burnout is a condition in which an individual has reached the end of their rope. They’re no longer able to take the stress and demands of their job and are overwhelmed.
How You Feel: Workplace burnout can happen to anyone, but it’s particularly common among employees who are stressed out by demanding deadlines or unrealistic expectations from their boss. When you reach this point where you are no longer able to cope with the stress at work, you may experience symptoms such as mood swings, fatigue, and decreased productivity.
What to Do: If you feel like you’re struggling to keep up with your job and you’re starting to suffer from workplace burnout, there are some steps that you can take to get back on track. First, talk to your boss about what’s going on – explain that you feel overwhelmed by the demands of your position and ask for help adjusting your workload. If that doesn’t work, consider looking for another job – even if it means taking a pay cut in the short term.
Workplace burnout is a condition that can be debilitating, so don’t wait until it’s too late before trying anything else!
2. Your Work Is Overlooked and Undervalued
When people feel like their work is overlooked or undervalued, it can lead to a number of negative emotions. These emotions can include frustration, anger, and sadness. You want to hear “I appreciate you or get a letter.”
How You Feel: You feel like your work isn’t given the credit it deserves. This might be because the job is boring or mundane, or because you feel the work isn’t appreciated by others in the workplace. When this happens, it’s easy for these feelings to simmer down and fester.
What to Do: If you’re feeling frustrated at your job and don’t know what to do about it, consider talking to your boss. Discussing your concerns might help them see how important your work is and spark some ideas for how you could improve it. Additionally, contacting professional organizations that focus on career development can give you advice on where to go from here.
3. You’ve Been Stagnant for Some Time & Not Given Growth Opportunities
When you’ve been stagnant, you’re not moving forward or improving in any way – especially if you haven’t been offered a promotion. This could mean you’re stuck in a job you don’t like, haven’t taken any steps to improve your skills, or just aren’t making any real progress climbing the corporate ladder.
How You Feel: Stagnation can be frustrating and discouraging especially if you have been a loyal employee for a while. You are tired of being looked over for that promotion by a work colleague. You are wondering if you should dust off that resume and start drafting cover letters for a new job.
What to Do: There are many proactive things to do on your own when you feel stuck.
Take stock of where you are right now. Sit down and make a list of all the accomplishments and successes that are linked to your current job. What does this say about how satisfied you are with your position?
Evaluate what kind of skills you need to advance in your career. Do some research online or attend relevant training courses offered by your company or industry association.
Think about what kinds of changes would make the biggest impact on both you and your company/organization that employs you. Are there new technologies available that could help streamline operations? Could new policies be put into place that would benefit the organization as a whole?
Be proactive. Start reaching out to other professionals within your field and see if there’s anything you can learn from them. Networking is one of the best ways to grow your career, and it won’t take much effort on your part.
Be patient. Things may not change overnight, but over time they will improve. Don’t get discouraged; stay positive and continue working hard towards your goals.
4. Your Workplace Is Toxic or Hostile
A workplace is considered toxic or hostile when employees feel uncomfortable, unsupported, or threatened. This can lead to decreased productivity and morale, which in turn can result in negative impacts on the business.
In fact, the toxic culture is driving the Great Resignation we are seeing right now (source).
How You Feel: When you don’t feel like you can open up about your concerns, it creates an environment of mistrust, tension, and poor communication between all of the employees and your managers. This type of environment is difficult to overcome, and will eventually lead to burnout.
What to Do: The best way to avoid a toxic workplace is by creating a culture of transparency and trust. By airing out any problems early on, you give yourself the opportunity to work together harmoniously towards common goals instead of against each other.
5. Be Careful About What You Say and to Whom
Be careful what you say to whomever you talk to online and in-person, as your words could potentially be taken out of context and used against you.
How You Feel: It can be tempting to share your frustrations with your job with friends or family. But before you do, make sure that they’re comfortable talking about work too. If they’re not comfortable discussing their jobs openly, it may not be the best idea to bring up yours either. And if someone does overhear you speaking negatively about your job, don’t worry – they probably won’t repeat what you said!
What to Do: When you talk to people, be careful about what you say and to whom. It’s important not to offend anyone, especially not your boss. You never know who might be listening in on your conversation – or recording it!
6. Take a break
Sometimes it’s tough to keep going when you’re feeling down about your job. But sometimes it’s important to take a break and focus on other things in life.
How You Feel: You feel like you are grinding and going in a million different directions. As soon as you feel like you get ahead, something knocks you down and you feel like you need to start over.
What to Do: Taking a break can be helpful in many ways. It can help you clear your head, refocus on your goals and come back with a new perspective.
Sometimes all we need is some time away from our job to get back on track.
If taking time off isn’t an option or you don’t think it will help, there are other things you can do to improve your situation once you feel a little more refreshed. Thus, why adult coloring books have become so popular.
7. Miserable in the Work Building
You want to feel happier and more productive at work, but that may happen by taking steps at home and with your family.
How You Feel: When you’re feeling miserable at work, it’s harder to focus on your job and perform at your best. You are counting down the seconds until your shift is over.
What to Do: Taking steps to improve your well-being outside of work can help you feel happier and more productive. This includes things like exercising, eating a healthy diet, getting enough sleep, etc. By improving one aspect of your life, you’ll be better equipped to handle stress in the workplace and achieve success.
8. Your Projects are Underappreciated
Many people believe that their work is just a necessary evil, something that they have to do in order to get by. But the truth is, your work is incredibly important – it’s what allows us to live our lives. Without a job, we would be unable to pay our bills or afford food.
How You Feel: According to a recent study, almost three-fourths of employees feel their job isn’t very important and receives little recognition from their employers. This is difficult when you pour your heart and soul into an assigned project at work.
What to Do: If you’re unhappy with your current situation and don’t think your work is receiving the recognition it deserves, there are probably some things you can do about it. Start by talking to your boss about what you’d like to see change – maybe there’s room for improvement in how your department is managed or prioritized. And finally, make sure you’re giving your best effort every day – if you’re putting in the extra effort but still aren’t satisfied with your career path, it might be time for a change.
9. Your Talents are Wasted and the Effects are Feeling Undervalued
When you feel like your skills and talents are not being appreciated or utilized to their fullest potential, this can lead to feelings of depression, stress, and burnout. Oftentimes, these negative emotions are compounded when we don’t have a clear idea of what we want in life.
How You Feel: Chronic undervaluedness can have serious consequences on our mental health. It can lead to feelings of low self-esteem and insecurity, which in turn can lead to problems such as depression and anxiety. Furthermore, undervalued employees are less likely to pursue career opportunities that may be better suited for them. This leaves businesses struggling to find qualified candidates and increases the chances that they’ll need to recruit externally in the future.
What to Do: The good news is that it’s possible to overcome feeling undervalued by focusing on celebrating yourself. In fact, I recently finished this book and realized I contribute to putting myself down more than others around me. Start by taking awareness of negative thoughts and make a swift change to change them to the positive.
10. There Has Been an Uncomfortable Change in Leadership
This tends to lead to the most job-hopping because of an uncomfortable change in leadership, which can lead to a number of different emotions.
How You Feel: More likely, you feel one of the most common reactions of sadness, confusion, and anger. When a leader is replaced or leaves a position of power, it can be confusing for the people who work under them. This can lead to feelings of sadness and loss, as well as confusion about what’s going on. You may also become angry because they feel like your position is threatened.
What to Do: It’s important for leaders to communicate with their employees about the changes so that everyone understands what’s happening and feels comfortable using the new leadership structure. This will help reduce the amount of confusion and chaos at work, which will ultimately improve morale. If this doesn’t happen, then try to sit down with your new and old boss for a discussion.
11. Your Values No Longer Align
This can happen when new management comes into the work environment or a personal shift in life notification for you. When your values no longer align with those of the job, it can be difficult to stay motivated.
How You Feel: When you first accepted the job offer, everything felt right. You were excited about the challenge and the new opportunities that this new position would bring. However, after a few months, you start to notice some discrepancies between your values and what is required of you in your current role.
For example, you may not feel comfortable using profanity at work or participating in unethical behavior. In fact, you may even feel morally opposed to these behaviors.
What to Do: If your values are no longer aligned with those of the job, it can be hard to stay at the job because you no longer see any value in what you’re doing. This can lead to feelings of frustration and dissatisfaction.
Additionally, consider job-hopping and start scheduling interviews for another job that better aligns with who you are as a person and what matters most to you. When you find a job that you love and feel passionate about, it will be much easier to stay motivated and happy in your work environment.
12. Your Confidence Is Dwindling
It is deflating when work is off sync and nothing seems to be working out how your hopes. You know their adjustments to be made, but you aren’t sure where to start
How You Feel: When you’re feeling down about your job, it can be hard to believe that anything could make things better. But the truth is, there are plenty of ways to get through a tough time.
What to Do: Here are four ways to boost your confidence and start thinking positively again:
Talk to someone you trust. Talking out your problems with someone who will listen without judgment can help you feel more relieved and less stressed.
Take some time for yourself. Whether that means taking a walk outside or indulging in a favorite hobby, spending time alone can help relax your mind and body and clear your head.
Set goals for yourself and work towards them one step at a time. When you have something concrete to aim for, it becomes much easier to stay motivated during challenging times.
Believe in yourself! Even if the world seems like it’s against you right now, remember that everything will eventually work out as long as you keep fighting for what’s important to you.”
13. I Really Hate My Job & Think It Is Time for a Job Search
There are a few different ways to quit your job and make the switch to a new career. You can search for job openings online, contact your local employment agency, or speak with an advisor at a career center.
How You Feel: Quitting your job is not always easy, but it’s worth it if you’re unhappy with the situation. There are many benefits to quitting your job, including increased income (yes, a raise!) and more time for yourself.
What to Do: Searching online is the fastest way to find jobs that match your skills and interests, but be sure to read all of the applicable links before applying. If you’re looking for advice on how to quit your job without ruining relationships or getting fired, speak with an advisor at a career center. They can provide guidance on how best to proceed and minimize potential damage.
15. When you Hate Workplace – Don’t Burn Bridges
Burning bridges can have serious consequences, both for yourself and your career. By staying neutral in confrontations, you may be able to salvage your reputation and future relationships.
How You Feel: When disagreements arise at work, it’s important not to take the bait and lash out. Doing so could lead to long-term damage that could complicate your job situation and future career prospects.
What to Do: Instead, try to remain calm and diplomatic – this will show that you have good judgment and aren’t easily provoked. If you need to speak up, do it constructively and with the goal of resolving the issue rather than hurting someone’s feelings or damaging their relationship.
16. Your interests & skillsets have changed
If you’ve been working at your job for a while and it’s not fulfilling you anymore, it might be time to consider a change. Maybe you have been learning a new skill set that you find more interesting.
How You Feel: Your interests may have changed since you first started working, or you may have outgrown your current position. It’s important to remember that there are plenty of other opportunities out there – even if they don’t involve a nine-to-five schedule.
What to Do: When we’re unhappy with our work, it can be tough to discuss the situation with our boss or coworkers. But if we’re not happy, they’ll eventually notice and it’ll create an uncomfortable work environment. Change can be difficult at first, but it can lead to greater satisfaction in the long run.
17. Know It’s Not Just You
There’s a lot of talk about the recession and how it’s affecting everyone, but what about the people who are just trying to survive? This is a common struggle people are facing at work.
How You Feel: Work can be challenging, especially during tough economic times. Many people are feeling stressed out and depressed at their jobs, and there doesn’t seem to be an end in sight.
What to Do: However, there are ways to cope with the stress and difficulties of work. You need to learn strategies to balance the work-life situation. Talking to friends or a trusted professional will help you get back on track.
I hate my Career – Ways to Cope
Everyone hates their jobs sometimes.
This is especially true when you are stuck in a career that doesn’t serve your values and goals, or one with very high-stress levels. If this sounds like the case for you, then it is time to evaluate your next move.
However, many people are reluctant to make such changes because of the risk involved and uncertainty about what comes next.
It is important to be aware of what is driving your internal hatred about your job, your boss, or your situation.
1. Assess Your Situation & the Industry
If you’re feeling depressed or lost in your career, it’s important to take some time to assess where you are and where you want to be. This is a process of looking at your current situation and making a plan for how to get there.
Are you unhappy with your current job because it is not fulfilling, or are you just bored?
Perhaps the work environment is too stressful for you to handle?
Do you believe you should be making more money?
The first step in coping with a negative career outlook is taking the time to reflect on where you are right now. You can use this assessment to figure out what needs to change in order to improve your situation. Once you have a good idea of what needs improvement, it’s easier to make the changes that will get you closer to your goals.
Also, look at the overall industry trends to you see industry-wide trends affecting job quality and life satisfaction. More often than not, it might be others in your field feeling the same.
2. Have the Tough Conversations
Tough conversations can be difficult, but they’re essential if you want to improve yourself and your career. Every time you have a tough conversation with yourself or someone else in your work life, you’ll learn something new and make progress.
There are three types of tough conversations you need to have:
The “What If” Conversation – This is the conversation where you ask yourself what would happen if X happened. This helps you prepare for possible challenges and makes sure that everything is in order before taking action.
The “Doing Better” Conversation – This is the conversation where you commit to doing better next time, regardless of the results so far.
The “I’m Sorry” Conversation – This is the conversation where you apologize for how things turned out and vow to do better next time.
Tough conversations are not easy, but they are essential if you want to achieve your career goals. Be brave enough to have them and take advantage of all that they can offer!
3. Switch Your Perspective
If you’re feeling down about your career, take a step back and think about how you can see it from a different perspective.
When we’re upset or unhappy with something in our life, it’s easy to focus on the negative aspects. However, by switching our perspective, we can start to see the situation in a new light.
For example, if you hate your job but don’t want to change careers, try thinking about how you could see it as an opportunity for growth. Instead of focusing on what you don’t like about your job, consider all the ways you’ve learned and grown since starting work there.
We all have moments when things don’t go our way – by changing our perspective, we can start to feel better even when things are tough. In fact, this is why we stress mindset is everything.
4. Vent About It
When people feel frustrated or overwhelmed with their job, they may want to share their feelings with others. This behavior is often referred to as “venting.”
Venting can be helpful in relieving stress and tension. It can also help people process their thoughts and emotions, which can lead to positive changes in their lives.
Many people use social media to vent about their career frustrations. This is especially common among millennials, who are more likely than any other generation to use social media platforms for self-expression. One of the benefits of using social media for venting is that it allows you to connect with like-minded individuals who understand your situation. This network of support can be incredibly helpful in overcoming challenges in your career path.
5. Get Your Finances in Order
When you’re feeling down about your career, it can be tempting to think that you have no other choice but to continue to work at a job you hate. However, by getting your finances in order you can start to feel more optimistic about your future.
Especially for those in the, I don’t want to work anymore boat, this is the time to start saving money to invest for your future self.
Setting money aside will provide a cushion if you choose to leave your job unexpectedly or breathing room when changing jobs.
This is something we personally did when my husband wanted to change jobs due to being overlooked for promotion after promotion.
6. Do Your Best Work
Doing your best work means putting your all into whatever you’re doing. It means giving it your all, no matter what the task or situation. This may be hard, but it is essential!
When you do your best work, you put in the effort and energy that’s necessary to be successful.
You don’t half-ass things because you’re worried about how people will think of you. You go all out and give it 110%, no matter what. And that goes for everything in life – from your career to relationships to anything else that matters to you.
There are a lot of times when we don’t feel like doing our best work because we’re doubtful or scared. But if we keep pushing through those tough times, eventually we’ll reach a point where doing our best work becomes second nature. And then success will follow naturally as a result!
So don’t wait – start doing your best work today and see the amazing results for yourself!
7. Brainstorm Your Dream Job
Brainstorming your dream job is a great way to get inspired and motivated. It can also help you identify skills and interests that you may not have known you had.
When brainstorming your dream job, it’s important to be open-minded and think about any career possibilities that interest you. This could include fields that are completely new to you or areas of your current job that you don’t enjoy as much.
Once you’ve come up with a few ideas, it’s time to start thinking about what qualifications would be necessary for the job. Do some research into the specific requirements of the position and see if any of your skills or interests align with those requirements.
By brainstorming your dream job and taking these steps, you’ll be on your way to finding the perfect career fit and a happy you!
8. Start Making Connections & Build Relationships
Making connections is a key part of coping with a negative career situation. It can help you find comfort in the fact that you’re not alone and connect with people who have gone through similar experiences.
When things are tough, it’s often easy to feel like you’re all alone in your struggles. But by making connections with other people who are going through the same thing, you can start to feel less isolated and more supported. You’ll also be able to share your experiences and learn from others, which can help you overcome obstacles faster.
There are many ways to make connections online – through social media platforms, online communities like Reddit, or even just talking to friends or family members face-to-face. The important thing is to find an outlet that feels comfortable for you and allows you to express yourself freely.
Also, this avenue may lead to a new job opportunity for you.
9. Develop Other Sources of Income
Around here at Money Bliss, we stress the importance of having multiple streams of income.
While your 9-5 may pay your bills, you need to investigate other types of income to really improve your financial situation.
This can be done in a few ways:
Finding new (or returning) employment or 2nd job.
Starting a business.
Freelancing.
Make money with a gig economy job.
Each option has its own benefits and drawbacks, so it’s important to weigh them all carefully before making a decision.
When considering other forms of income, it’s important to keep in mind the following factors: how much time you have available, what you’re willing to sacrifice (including your free time), your skills and experience, and the marketability of your skill set.
I Hate my Boss – Resign With More Class
If you’re unhappy with your job, there’s no need to stay in a situation that is causing you distress. You can resign with class and maintain the respect of your coworkers and boss. Here are some tips on how to do it:
1. Address Your Issues Clearly
When you decide to leave, be clear about why you’re leaving and what your plans are for the future. It’ll help everyone involved understand the reasons behind your decision and avoid any misunderstandings or hurt feelings.
2. Be Polite When You Resign
Don’t make a scene or give anyone the impression that they were wronged in any way. Simply express your appreciation for all they’ve done for you over the past few months or years, thank them for their time, and let them know that you wish them all the best in future endeavors.
3. Most Importantly – Keep Your Work Adjustment Quiet
Your personal life doesn’t have to intersect with work-related decisions until after everything has been finalized – don’t announce your resignation at work or start bargaining terms before actually deciding if it’s what you want to do!
4. Make Sure You Have The Right Legal Documents At Hand
You’ll need documentation confirming your employment status, your dates of employment, and the terms of your separation. Make copies for yourself and store them in a safe place – you may need to refer to them during the negotiating process.
5. Give Yourself Time To Adjust to a Happier Well-Being
Don’t expect everything to fall into place overnight; give yourself plenty of time (perhaps several weeks or even months) to adjust before getting back into the workforce. During this time, it can be helpful to take some time away from work altogether, focus on relaxation techniques like yoga or meditation, or read about career options that interest you.
Which Step Are You Going to Focus on When you Hate Working?
In this article, we discussed some common struggles that people face at work and offer some advice on how to cope. We hope that by sharing our knowledge and experience, you’ll find relief or guidance in dealing with your own job problems.
There are many reasons for workplace unhappiness and changing careers may or may not be the solution to your issues.
When looking for another position, keep in mind that employers are always searching for talented individuals who will fit into their team and contribute positively.
Finally, don’t forget… Talking about your struggles openly can help ease them and give you some ideas for solutions.
Just keep moving forward and don’t give up on your dreams!
Do Your Job With Less Stress Job Ideas:
Maybe it is time for a shift change and moves to one of these careers.
Know someone else that needs this, too? Then, please share!!
Some of the greatest music albums of all time have been recorded in Los Angeles, the ‘Creative Capital of the World.’ Many of them at the legendary Cherokee Studios in West Hollywood, which opened in 1972, operated by the Robb brothers.
This is where David Bowie met Frank Sinatra and recorded his Station to Station album; it’s where Michael Jackson recorded Off the Wall, and where Warren Zevon recorded his final album. It’s basically holy ground for music lovers.
Though the studio was closed in 2007 and subsequently converted to residential ‘work/live condos,’ its legacy cannot be erased, and the spirit of the 70s can still be felt throughout the property. Now, you have a chance to tread in the footsteps of the iconic artists who recorded music at the studio.
Own a piece of music history for (just) $999,000
A two-story condo came to market at 751 N. Fairfax Avenue via The Agency‘s Nick Collins, and it’s asking $999,000. That’s a pretty good price considering you’d be owning — and living in — a piece of music history.
The 1,287-square-foot condo is part of Lofts @ Cherokee Studios, a LEED Platinum Work/Live residential complex that sits on the site of the former recording studio.
Developed by REthink Development with the help of studio founder Bruce Robb, the project includes 12 condos that can also be used as intimate recording studios, carrying on the legacy of the site.
Unit #1 at 751 N. Fairfax Ave. features 2 bedrooms, 2 bathrooms, and stunning views of Los Angeles from the rooftop deck.
Nestled behind a security gated entryway in West Hollywood, the stylish, turn-key condo features an expansive living space with 16-foot ceilings, a state-of-the-art kitchen, a cozy dining space looking onto a private balcony, and a light-filled master bedroom complete with a master bathroom.
The upper floor includes space for an office or sitting area, in-unit laundry, and also a guest bedroom. Additionally, the condo comes complete with 2 parking spaces and electric car charging stations.
For those who want to make the best of the property’s history, the condo also serves as the perfect setting for recording music.
Bruce Robb and his company A&R Studio Design + Construction worked with the developers to ensure that residents have the best acoustics and equipment available, and all the living spaces are pre-wired for 5.1 surround sound.
If you’re interested in seeing it live, The Agency is hosting two open-house events at the former studio, on Tuesday, July 9th from 11:00 AM to 2:00 PM, and on Sunday, July 14th, from 2:00 PM to 5:00 PM.
The magical history of Cherokee Studios
The Robb brothers set up the original Cherokee Studios in the early 70s at a ranch in Chatsworth. After MGM vacated its studios on Fairfax Avenue, the brothers moved in, and surprisingly ‘inherited’ some of the artists who had recorded with MGM, including Frank Sinatra.
The private studio quickly gained recognition; according to Bruce Robb, David Bowie showed up one day, played a chord on the piano, and concluded, ‘Cherokee..this will do nicely.’ He ended up recording his highly acclaimed Station to Station album there in 1975.
Other notable albums recorded at Cherokee Studios include Mötley Crüe’s Theatre of Pain and Shout at the Devil, Frank Sinatra’s Sinatra Christmas Album, and Warren Zevon’s final album The Wind. Rod Stewart, Ringo Starr, Henry Rollins, Barbra Streisand, Aerosmith, Diana Ross are among the other notable names to have recorded music here.
Check out the video below to get a glimpse into the magical history of 751 N. Fairfax Avenue:
Cherokee Studios is currently back in the recording business in a new Los Angeles location at 5241 Melrose Avenue.
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Envisioning a shopping space where customers could feel at home, Danielle Desimone celebrated the grand opening of her home décor and interior store HŌM in late April—a process that was 10 years in the making.
With more than 20 years of retail experience, Desimone explained that she learned about what made each company successful, taking a piece from each of her experiences and melding it together when she created HŌM.
“It’s a home and interior store, but it’s laid out like a traditional home, so it has a full kitchen, dining room, living room, bedroom and bathroom,” Desimone explained. “All shoppable areas of the home, so whether you need towels for your kitchen, snacks for entertaining, a gift, sheets for your bed or skincare products, perfume, anything from any room of your house, is shoppable.”
HŌM celebrated its grand opening on Del Prado Avenue during the bi-annual REDO Vintage and Maker’s Market on Sunday, April 30.
“I was so overwhelmed with the turnout,” Desimone said. “I was overwhelmed with gratitude. The amount of people that showed up. They’re like, ‘We’ve been watching you build for a year. We’ve been so excited. Dana Point needs this.’ ”
Desimone worked with REDO Market founder Randy Hild to coordinate the new business launch with Sunday’s market.
For future events, Desimone noted that REDO might plan a private event in the store.
“Since I had all my grand opening stuff, he was like, ‘Let’s push this to the next REDO,’ ” Desimone said, adding: “That’s something that speaks to Dana Point. I feel like everyone that has a business in Dana Point, they want to see everyone grow, and REDO, they’re so supportive.”
Living in Dana Point until July 2020, Desimone said she loved walking down Del Prado and dreamed of opening a shop in the former District Salon space next to Jack’s Restaurant.
“When I got the green light with the investors, I was walking around looking at spaces, and I saw, what was the District Salon, and I was like, ‘Oh, my gosh, this would be perfect,’ ” Desimone said.
“I literally walked over to the new District Salon, and I asked for the landlord’s information for the old building, and the owner was like, ‘Oh, well, we moved, because that’s being torn down, so it’s not available,’ ” Desimone continued.
The building was the site of the former Dana Point Hotel, set to be demolished for a mixed-use development with 68 residential units and more than 10,000 square feet of commercial space and underground parking.
However, when father and son duo Marvin and Eric Winkler took over the project, they decided to largely keep the facade of the 75-year-old building the same.
“After a year of looking and never thinking I could get that space, I ended up getting the exact space that I wanted,” Desimone said.
“I’m so grateful because the Winklers are so amazing to work with, and I’m so excited to see everything that’s happening with the back of the building, all that renovation and rentals and Jack’s renovating,” Desimone continued. “I think that they’re so committed to bringing young life back into Dana Point, and I am so grateful that I am part of that team.”
Desimone noted that many of the businesses opening on Del Prado are locally owned.
“It’s cool to be a part of such a growth,” Desimone said. “I’ve been saying for years that retail is going back local, malls are going to be dead, and everyone just wants to shop in their local area.”
Over the past six years, Desimone noticed a change in retail trends in which “it was more about convenience rather than quality,” she said.
“I hated it. I hated that you never knew what you were getting, and no one could ever speak to the product or background,” Desimone said. “I wanted to have a store where people can trust in anything that they were buying, and I was able to speak to it, and not just like, ‘Oh, well, it was pretty, so I tried it.’ ”
Desimone added that whenever her friends ask for recommendations, she always has “the best” product to offer, because she has likely tried a dozen different products to find the best one.
“I wanted to take that mentality and curate it into a store,” Desimone said.
After working in retail for more than 20 years, Desimone said she wanted to make a change to the shopping experience.
“I am an entertainer at heart; jokingly, my house was called Hotel Desimone growing up, because we would always have people over, I was always cooking, always entertaining,” Desimone said.
“Retail became so cold, and it wasn’t a personal experience anymore, and I think that shopping is personal and it’s a tactile experience,” Desimone continued. “You can only get so much from online. But to be able to see, touch, smell the product, it gives us a lot more comfortability with what they’re buying.”
Hoping to support the local business community with her new retail concept, Desimone added that she’s a “firm believer that a rising tide lifts all ships.”
“The majority of the products I have in store are all local,” Desimone said.
Whether it’s carrying products from a San Clemente-based photographer or towel company, or an abstract artist Desimone has known since kindergarten, HŌM aims to support local businesses and small vendors.
“So, in purchasing at HŌM, you’re still keeping all of your shopping local, and that’s what I’m an advocate for,” Desimone said.
HŌM also features a working kitchen, which Desimone plans to use for private events, dinners and cooking classes.
“I want to make HŌM a staple for everyone,” Desimone said. “I want to be a source for designers, I want to be a source for people, for shoppers or anyone who can use the space to grow. I want to grow together.”
The products speak for themselves, Desimone said, adding that she hopes customers take away a sense of trust with HŌM.
“Story and experience are what sell in retail, and that’s what makes you comfortable and makes you loyal,” Desimone said. “Product speaks for itself; it sells itself.”
Desimone added that she would like customers to take away “the fact that they can trust whatever is at HŌM, and it’s not a gimmick, and it’s not anything that is just trying to be pushed down your throat. If it’s there, trust that it’s worthwhile.”
In recent years, there has been a growing trend in environmental sustainability and the need to address pollution in cities. Because of the growing awareness, many cities have made significant strides in this area, implementing measures to reduce pollution, promote clean energy, bring awareness around Earth Day and protect natural resources.
From innovative transportation solutions to community-based initiatives, these cities are leading the way toward a cleaner, more sustainable future. In this article, we will take a closer look at some of the cleanest cities in the US, exploring their approaches to sustainability and the impact of their efforts on the environment and the community.
What defines a clean city?
Cities have been scored and ranked based on numerous, measurable factors. These factors include alternative fuel resources, recycling jobs and air pollution, registered alternative fuel vehicles and traditional fuel vehicles.
These factors were scaled, scored and ranked scored and ranked while controlling for differences in population and land area. Based on this ranking, we’ve compiled the top 10 cleanest cities worthy of analyzing.
Located just two hours outside of New Orleans, Lafayette is a smaller Louisiana city making a true difference for the environment. The city has about half a million alternative fuel vehicles registered, helping it secure this top 10 spot. The city’s “Cleanest City” initiative includes regular litter pickups, community beautification projects and environmental education programs for local schools.
Lafayette has also implemented policies to reduce pollution and promote sustainable practices. The city has installed energy-efficient LED lighting in public areas and established a recycling program to reduce waste. Lafayette has also introduced a public transit system that utilizes hybrid buses, reducing emissions and promoting sustainable transportation.
Top apartments in Lafayette:
Rapid City has launched several initiatives to promote cleanliness and sustainability in the city. One of the most significant efforts is the “Keep Rapid City Clean and Green” program. Through this program, the city has organized numerous community clean-up events, including litter pickups and recycling drives. Rapid City has also implemented a public education campaign to raise awareness about reducing waste. This initiative has also helped contribute to the city’s level of recycling jobs available.
Rapid City has also implemented policies to reduce pollution and promote sustainable living. For example, the city has established a bike-sharing program to encourage more people to use sustainable transportation options. Rapid City has also introduced a public transit system that utilizes hybrid buses, reducing emissions and promoting sustainable transportation.
Top apartments in Rapid City:
One of the most significant efforts Duluth is making is the “Clean and Green Duluth” program, which encourages residents to take an active role in keeping the city clean. Through this program, the city has organized community clean-up events and litter pickups and has implemented a “zero waste” program at many public events. The zero-waste program has contributed to the city’s low pollution score along with its energy-efficiency initiatives.
Duluth has installed energy-efficient LED lighting in public areas and has introduced a public transit system that utilizes hybrid buses. In addition to these green initiatives, the “Bag it Duluth” initiative aims to reduce the use of single-use plastic bags by promoting the use of reusable bags through monetary rewards with partnering businesses.
Top apartments in Duluth:
Located 63 miles outside of Denver, Greeley is a green city securing our seventh spot. Greeley has implemented several initiatives to beautify their city. One of the most significant efforts is the “Greeley-Evans Transit” program, which provides public transportation services using hybrid buses. The use of hybrid buses reduces emissions and promotes sustainable transportation in the city.
Another notable initiative in Greeley is the “Clean Energy Plan,” which sets a goal of 100% renewable energy by 2030. As an extension of renewable energy efforts, the city has installed energy-efficient lighting in public areas and has a bike-sharing program to encourage sustainable transportation.
Top apartments in Greely:
With a low pollution score and 1 recycling job per 1 resident, Cedar Rapids has earned the title of a clean city. The city has committed to using renewable energy sources, such as solar and wind power, to reduce its carbon footprint. The city has installed several solar panels, including a large array at the Cedar Rapids Ice Arena.
Cedar Rapids has also launched several programs to help residents and businesses reduce their energy usages, such as the “Bright Ideas” program that offers free energy audits and incentives for energy-efficient upgrades. Additionally, the city has implemented a “Green Building Policy” that requires all new city-owned buildings to meet certain environmental standards, such as LEED certification.
Top apartments in Cedar Rapids:
Laredo is taking proactive steps to become a more sustainable and environmentally friendly city, with a focus on recycling, energy efficiency and green spaces. This Texas metro has a network of parks, open spaces and natural areas that provide residents with opportunities to enjoy the outdoors. The city has also implemented a program to plant more trees in the community, further beautifying these spaces.
Laredo is showing commitment to improving energy efficiency in municipal buildings, as well as promoting energy efficiency in homes and businesses. The city has implemented a program to replace streetlights with energy-efficient LED lights.
Top apartments in Laredo:
Lincoln’s goal of achieving 100% renewable energy by 2040, along with other initiatives, has earned it the fourth spot on our list. The city has already installed several solar arrays and wind turbines to work towards this goal in addition to implementing several programs to help residents and businesses reduce their energy usage. One program called the “Green Challenge” program offers free energy audits and incentives for energy-efficient upgrades.
Lincoln is working to promote sustainable transportation options, such as walking, biking and public transit, which is reflected in the city’s low number of traditional fuel-registered cars. The city has implemented a bike share program and is expanding the network of bike lanes and trails. The city also has a public transit system that runs on compressed natural gas (CNG), which is a cleaner-burning fuel than traditional gasoline.
Top apartments in Lincoln:
Known for its stunning scenery, Cheyenne is doing its part to protect these views and surrounding plains. Cheyenne has implemented several programs to help residents and businesses reduce their energy usage, such as the “Green Business Program” which offers energy audits for free and rewards for energy-efficient upgrades.
Through these initiatives, Cheyenne has a goal of achieving 100% renewable energy for its municipal operations by 2025, and the city has already installed several solar panels on city buildings. Water conservation is also top-of-mind, through the implemented programs to promote water conservation, including a program to install low-flow showerheads and toilets in homes and businesses.
Top apartments in Cheyenne:
Hot Springs takes the second spot with a low pollution score and ample recycling jobs along with other green-friendly initiatives. This Arkansas city has a comprehensive recycling program for residents, which includes the collection of paper, plastics, glass and other materials. The city also provides free recycling bins to residents and has a curbside recycling program.
Additionally, Hot Springs has implemented green building standards for new construction and renovations. The city provides resources and incentives for developers and homeowners to incorporate energy-efficient and sustainable features into their buildings.
Top apartments in Hot Springs:
Also known as the Quad Cities, Davenport-Moline-Rock Island has taken several steps to become a more environmentally sustainable region, earning our title as the cleanest city. The Quad Cities has several renewable energy projects, including a solar farm in Moline, Illinois, and a wind farm in Iowa. The region is also exploring additional opportunities for renewable energy development, setting a precedent for green initiatives.
The Quad Cities recycling program has diverted millions of pounds of materials from landfills. In 2019, the region’s recycling rate was approximately 43%, which is higher than the national average. With the highest number of recycling jobs on this list, at a whopping 530, the quad cities are clearly investing in the future of the area and of the earth as well.
Top apartments in Quad Cities:
Creating a better world for present and future generations
These cities are setting an example for the rest of the country to follow. Through their commitment to recycling, low levels of pollution and the adoption of alternative fuel vehicles amongst residents, these cities are taking significant steps towards reducing their environmental impact and creating a healthier and more sustainable future.
In sum, these metros demonstrate that clean, green living is not only possible but can also lead to greater economic prosperity, improved public health and a higher quality of life. As more communities adopt similar measures, we can work towards a cleaner, more sustainable future for all. For more green-friendly apartment cities, search here.
HUD homes are a great opportunity to get a great deal, but HUD has very different rules for investors and owner-occupants. HUD homes are foreclosures that had FHA loans, which are now owned by the United States government. I used to sell HUD homes as a real estate agent and was a part of hundreds of transactions involving HUD (I mostly invest in real estate now). HUD can be very confusing to those are not familiar with there system, but it makes sense once you know all the rules. There are different rules for investors and owner-occupants. There are also special programs for HUD homes like the good neighbor next door, and the $1 down payment program. We will go over everything in this article!
What are HUD homes?
HUD homes are government-owned foreclosures. HUD stands for the Department of Housing and Urban Development. HUD oversees the FHA loan program, which stands for Federal Housing Administration. FHA loans are low-down-payment loans that are only owner-occupied buyers are eligible for. The loans are obtained from banks, but the government insures them. If the loans go through foreclosure the government will sometimes take over the loan and the property from the bank. The bank has the option to keep the property, and HUD does not approve every FHA insurance claim so not all FHA foreclosures go back to HUD. When HUD takes back an FHA foreclosure they will use their own online bidding system to sell the homes in most cases. They will also use bulk sales (hundreds of millions of dollars of homes) to sell packages of properties.
Where can you find HUD homes?
The most important thing to know about HUD homes is HUDHOMESTORE.COM. HUD lists every house they have for sale on this website and anyone can view it. To search for HUD homes, simply enter the state you are looking in and any other criteria you want to narrow it down with; city, zip code, address, etc. Once HUD accepts a bid they remove the property from Hudhomestore.com. If you see a sign in the yard or property in MLS but can’t find it on Hudhomestore.com they may have already accepted a bid. There are a few other reasons the property may not be on the site including price changes or new appraisals.
Check out the video below to see how to look up and bid on HUD homes:
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How can you submit a bid to buy a HUD home?
HUD has very strict bid periods on who can bid and when. When HUD homes are first listed there is a bid period for owner-occupants, non-profits or government agencies. Investors cannot bid during this bid period, and the length of the bid period varies depending on the home. HUD homes have an appraisal done before they are listed and homes that will go FHA are listed as insured and the properties that won’t go FHA are listed as uninsured.If a property is insured, investors cannot bid for the first 15 days! If a property is uninsured, investors cannot bid for the first 5 days.
When you are looking at a listing on Hudhomestore.com look for the period deadline, it will give the last day owner-occupants, non-profits and government agencies can bid. Investors can place a bid the next day after the period deadline expires. If a property is still on Hudhomestore.com the day after the period deadline expired, it does not mean HUD did not receive an acceptable bid. HUD reviews bids the first business day after the period deadline, and the property could be on the website for a short time in the morning while they review bids.
This can be very confusing the first time you try to process the information, but it gets easier the more you use Hudhomestore.com. The thing to remember is investors can bid on the first day after the period deadline. If you are unsure who can bid, HUD will list who the eligible bidders are on Hudhomestore.com. When investors can bid it will say “All bidders.” A good real estate agent who knows the HUD system can walk you through the process as well.
In fact, you have to use a real estate agent who is approved and registered in the HUD system to bid on HUD homes.
What does FHA insured with repair escrow mean on HUD homes?
HUD does not allow any repairs to be made to properties and typically does not repair any of their properties. However, HUD wants to sell homes to owner-occupied buyers and many HUD homes need some repairs that would not allow them to qualify for FHA financing. HUD uses an FHA repair escrow to help owner-occupied buyers get into these homes. The amount on Hudhomestore.com under FHA repair escrow is the amount that a HUD appraiser has determined it will take for the home meet FHA guidelines. The escrow could be $0, in which case the home does not need any repairs in order to go FHA. If there is any other amount, the home will have to have some work done to qualify for an FHA loan.
The escrow repair amount is added to the buyer’s loan at closing, it is not a gift from HUD. The work is to be done after closing by licensed contractors within 90 days, and the lender will pay out the escrow amount directly to the contractors.
The details of each item that needs repair are listed under the addendum on Hudhomestore.com. The total repairs cannot exceed $5,000 for the FHA repair escrow. HUD adds a ten percent cushion if the repairs cost more than expected, so technically there could be $5,000 in repairs and a $500 cushion for a total escrow amount of $5,500.
If the buyer gets a new appraisal that shows more work is needed, that must be added to the FHA repair escrow.
If the home is marked as uninsured a buyer cannot get a typical FHA loan, but they can use an FHA 203k loan.
Can I use the HUD repair escrow on other types of loans?
No, the repair escrow can only be used on FHA loans.
Can you use FHA 203k rehab loans on HUD homes?
If a home needs more than $5,000 in repairs to qualify for FHA, there is still an FHA option. The FHA 203k rehab loan is a great program that allows a buyer to make repairs after closing and finance them into their loan. There is no limit to the dollar amount of repairs that can be made, but it can be a complicated process. This program can be used on a house with less than $5,000 in repairs as well if the buyer wants to make more repairs than FHA requires. The loan can also be used on uninsurable homes as long as it is marked on Hudhomesore.com that an FHA 203k is being used.
A 203k loan requires two appraisals, one for the as-is value and one for the after repaired value. The loan also takes longer to close and has a few more fees than a normal loan, but it is a great option for those looking to make major repairs.
What is the Good Neighbor Next Door Program?
The Good Neighbor Next Door Program (GNND) is a HUD specific program geared towards EMTs, teachers, firefighters, and law enforcement. HUD designates certain houses for this program and they will give a 50% discount to qualified buyers! In order to find these properties, go to Hudhomestore.com and click on Good Neighbor Next Door Program in the blue box. Then click on your state on the map to the right of the blue box. This will pull up all GNND properties in your state. Do not be surprised if there are not many properties available as HUD designates very few properties for this program.
HUD also has very strict policies regarding who can bid on GNND properties. The buyer must be a full-time employee in their field, work within a certain mileage of the property, and live in the property for three years. Bidding on a GNND is very simple. Your agent submits the full price in the GNND bid period and if HUD accepts your bid, they automatically discount the property 50%. These properties are not always in MLS, so check Hudhomestore.com frequently to find these listings.
HUD does not pay a commission on these properties to the listing or selling agent. Many times the agent representing the buyer will require the buyer to pay a commission directly to the buyer’s agent. If more than one buyer bids on these properties, HUD will randomly select the winner.
HUD bidding timelines
For insured homes:
15-day owner occupant, government agencies, and non-profit only bid period. The first ten days of this bid period HUD collects all the bids and subsequently review them on the next business day. Thereafter for the next five days, HUD reviews any bids received the following day. (not sure if they review them the same day or the day after the bid is received during this time)
Investors can bid on the 16th day the home has been actively for sale. You can see this date by looking at the period deadline. Investors can bid on the next day after this deadline.
If the price is lowered, the owner-occupant period does not start over. Investors can bid right away.
For uninsured homes:
7-day lottery bid period. Government agencies and non-profits only can bid. The home is listed on HUDhomestore, but not on the MLS.
5-day owner occupant, government agency and non-profit only bid period. HUD accepts bids the first five days and opens them the next business day. Investors can bid on the 6th day.
If the price is lowered, the owner-occupant period does not start over. Investors can bid right away.
Are HUD homes listed for sale on the MLS?
HUD will list some properties differently depending on the repairs needed and potential buyers’ qualifications. On uninsured properties, HUD will list them on Hudhomestore for 7 days, but the only eligible bidders are non-profits and government agencies. During this 7 day period called the lottery period, some asset management companies will list the home in MLS and others will not.
Another program HUD uses is the Good Neighbor Next Door Program(GNND). They sell designated houses to firefighters, police officers, teachers, and EMT workers. There are many special requirements that must be met to purchase a home in this program, one of them is you have to occupy the home for three years. Since the property is not eligible for all buyers, some asset management companies list them in MLS and some do not. If you see a property in Hudhomestore, but it is not in MLS, check to see who the eligible bidders are.
How can you submit a bid?
A buyer must use a real estate agent registered with HUD to submit a bid on a HUD home. If you are shopping for an agent and you are interested in HUD homes, ask your agent if their company has a NAID number. If they don’t have a NAID number, then they can’t submit a bid for you. Any office can get a NAID, but it can take up to 6 weeks to get a NAID number from HUD. If your agent’s office has a NAID, they can register on Hudhomestore and submit a bid for you very easily. The bid is submitted online and no documents are uploaded with the bid. HUD does require the social security, tax id or EIN number for the purchaser to submit the bid.
What happens after a bid is submitted?
HUD will only respond to your agent through email if your bid is accepted. If your bid is not accepted, HUD will not notify your agent, but your agent can look up the bid status. Your agent has to log in to HUDHOMESTORE.COM and go to bidder functions. They can search for bids they submitted, and HUD will list the bid status. It may say reviewing bids, accepted, canceled or other bid accepted. If your bid was not accepted and no other bids were accepted you can bid again as many times as you like. In some cases, HUD may counter your offer, but their counter is only a notification informing you of what net price HUD will accept. If you enter a bid that nets HUD the counter price or more, they will accept it as long as no one else submits a higher bid.
How low of a bid will HUD accept?
A buyer can submit any bid amount they want on a HUD home, but HUD has certain guidelines they will accept. Those guidelines change in different areas of the country and for different properties. The asset management companies are given guidelines from HUD on what bid amount they can accept. Usually, they are allowed to accept a net amount of around 10 to 12 percent less than asking price (in my area). The net amount is what HUD will receive after commissions and closing costs are paid.
HUD always pays the listing broker a 3% commission and the selling broker can get up to a 3% commission. If HUD is paying a 6% commission total, then that net amount they will accept has dropped to 4 to 6%t less than the list price. If the buyer wants closing costs, then that amount drops even further. If a property becomes an aged asset, meaning it has been on the market for more than 60 days, HUD may accept lower bids. In different parts of the country, HUD may also accept 20% less than asking price at the beginning of a listing period.
Here is a breakdown of what HUD may typically accept:
Asking Price: $100,000
Commissions: $6,000
Buyer Closing Costs: $3,000
Net to HUD: $91,000 or 91% of the list price
In the scenario above HUD would most likely accept a bid slightly lower than the list price of $100,000 like $98,000. If the buyer did not need closing costs paid, the bid could be lowered by $3,000 and HUD would still accept it because the net money going to them is still the same.
There are also occasions when a low bid that does not meet HUD guidelines is accepted. This usually happens on aged assets that have been on the market over 90 days. The asset management company can ask for special approval from HUD on these low bids. When this happens your agent may receive a counter from HUD in the morning and then an acceptance later in the day. This is because the asset management company could not accept the bid right away, but they sent it to HUD and it was approved later in the day.
Does HUD prefer cash offers?
Many buyers assume a cash offer will get accepted over a financed offer since cash offers have a better chance of closing. However, HUD does not care. They treat all offers the same whether they are cash, FHA, conventional, USDA, VA or even a 203k FHA rehab loan. HUD will pick the highest net offer to them, that is all they care about.
How soon should investors submit a bid to HUD?
The key to an investor getting a HUD home is speed. There are many investors waiting for HUD homes to make it to the investor bid period, and most good deals will get bid on the first day an investor can bid. On uninsured homes, there is a trick investors can use to gain an advantage over other investors. HUD opens bids on the next business day after the 5-day owner occupant bid period is over. HUD does not open bids first thing in the morning, they usually open them mid-morning or later depending on how busy they are. At the beginning of the 6th day, an uninsured HUD home will be available for investors to bid on, even though HUD may be accepting an owner occupant bid later in the day.
Investors should always try to get their bid into the system on that 6th day because HUD homes tend to fall out of contract more than other properties. If an owner-occupant cancels their contract, HUD will move on to any backup offers in their system that are an acceptable price before they put the home back on the market. If the house comes back on the market, an investor who bid on the 6th day could have their bid accepted, before any other investors get a chance to bid on the home.
Should you mark hold as a backup offer?
YES! HUD asks all bidders if they can hold their offer in a backup position. This means if an accepted offer cancels, they will automatically accept the next highest bid as long as it is an acceptable amount. It does not hurt to mark this box as you are under no obligation to continue with the contract if HUD accepts your bid. If HUD lowers the price on a property, they will review bids they have already received to see if they are now an acceptable amount after the price change. Your bid could be accepted before anyone else gets a chance to submit a new bid after the price change.
How to send in a contract after your bid is accepted
If HUD accepts your bid, they will notify your agent by email and give your agent instructions on how to send the paperwork to HUD. Your agent will have 48 hours to send the original documents to HUD (HUD may be allowing electronic signatures in some areas now). That 48 hours is extended for weekends and holidays. HUD has its own sales contract, addendum, and disclosures. They will require a pre-qualification letter or proof of funds letter if you are paying cash, and your earnest money must be sent with the package.
HUD requires certified funds for your earnest money. Your agent should be able to help you out with the package and explain all the details. There are a couple of very important documents to pay attention to that I will go over in the next sections. If your package is going to be late, make sure your agent contacts HUD and tells them it will be late and HUD may give you a little extra time. If your package requires corrections, HUD will email your agent and usually, corrections are due within 24 hours.
Buyer Select title company update
HUD has switched to a buyer agent select system where buyers now choose the title company. Buyers choose the title company for the entire transaction and can choose any title company they want. HUD will get the title company registered with HUD, once a bid is accepted and a title company is chosen. The asset management companies are handling things differently with some having the listing agent hold the earnest money and some requiring the buyer to send in the earnest money to HUD. Make sure you read the instructions thoroughly for what HUD requires.
How to complete an inspection on a HUD home
HUD has a different inspection policy than most REO sellers. When HUD has a property listed, they do not turn on any of the utilities. When HUD signs your purchase contract, they will email your agent a signed copy with the appraisal and a utility turn-on request form. You have 15 days from the time HUD signs the contract to do your inspection, and they allow you a three-day window to turn on the utilities. It is usually best to make your three-day inspection window as late into the 15 day inspection period as possible. The reason is you have to send in the form to HUD’s property preservation company, wait for them to approve it and then get utilities on in your name. It can easily take over a week to get the form back and get utilities on so make sure your agent turns in the request form as soon as possible.
HUD does not pay for the utilities or any turn on fees and they do not de-winterize the property. In fact, if you live in an area that requires winterization, you will have to send in $150 with your turn on request form if you want to turn on the water during the winter season. Most areas require the winterizations from 10/1 to 4/30. This fee is for the property preservation company to re-winterize the property after you complete your inspections. If HUD found the property’s plumbing system did not hold pressure during an air test, they will not allow you to turn on the water.
If you find issues during your inspection, you have two choices; cancel the contract or proceed with your contract knowing HUD won’t repair anything. They are very clear HUD homes are sold in as-is condition, and they will not make any repairs, even if the lender requires it. They are also very clear that they will not return your earnest money if you find inspection issues that cause you to cancel your contract. As I said earlier, HUD does an inspection before listing each property, and the basic results are listed on HUDHOMESTORE.COM. To find the inspection, look under addendum on HUDHOMESTORE and you will see a document called PCR. This will list the general condition of the plumbing, electric, HVAC and roof. Do not depend on these inspections to be perfect! Many times the HUD inspectors are only able to do a visual check since the utilities are not on.
How to do an appraisal
HUD does an appraisal on every home before they list it. HUD used to list every home at the appraised value, but that changed recently. Owner-occupants used to be able to use this appraisal if they are going FHA, but now all buyers must get a new appraisal. If your appraiser requires the utilities to be on for the appraisal, you have to follow the same procedure to turn on utilities as you did for the inspection. The best practice is to schedule the appraisal at the same time as the inspection if possible. The biggest issue I see with appraisals is the plumbing. HUD’s inspector will do a pressure check on the plumbing system before the home is listed. If the pressure test fails, it means there is a leak somewhere in the system.
That also means HUD will not let you turn on the water for your inspection or appraisal. If the system fails the pressure test and your appraiser requires the water to be on, you are out of luck. HUD won’t repair the lines and no repairs can be made before closing. Please pay attention to the HUD inspection before bidding and talk to your lender about the appraisal process. I have seen many deals fail because the water could not be turned on for appraisals on HUD homes. If you have already had your bid accepted and you have run into this issue, there are a few solutions. Many times a lender can escrow for plumbing repairs or a portfolio lender may be able to do the loan without utilities being on.
The other issue that may come up is an appraisal comes in low on a HUD home. This is rare, as usually HUD homes are priced low enough that an appraisal value is not an issue. If the appraisal does come in low or the appraisal requires repairs, HUD does not make repairs or price adjustments. Again the only choice will be to cancel or continue with the original bid price and terms.
Closing
Different asset management companies give different time frames for closing. Some allow cash buyers 30 days to close and financed buyers 45 days to close. Other companies allow 45 days for cash and financed buyers. If you must have an extension due to your lender or other fault of the buyer, then HUD will charge you for an extension. Typically the fee is $375 for a 15 day extension day but can be lower for lower-priced properties. The exact fee schedule is listed on one of the HUD forms you will sign. HUD will grant two extensions, but if a third is needed HUD will need proof that closing is eminent or they may not approve the extension.
Another difference with HUD is they do not pay for the buyer’s title insurance. Make sure you factor that into your figures when bidding on a HUD home. HUD does not require title insurance, but I highly recommend you get it. HUD does the best they can, but they are dealing with other lender’s homes that were foreclosed on and had FHA financing. Sometimes a title issue will slip through the cracks, and if you don’t have title insurance it can be a nightmare to get it cleared up. I sold a HUD home a few years ago that was owned by a large bank. 6 months after the sale, we learned the bank did not have clear title. The title company was able to clear it up, but if the buyers did not buy the insurance it would have been on them to figure out how to get a clear title.
Can investors get their earnest money back?
HUD is very clear that they treat investors differently than owner-occupant buyers. They feel investors are more experienced in real estate and should do their due diligence before making an offer. HUD makes investors sign a document saying their earnest money will not be refunded for inspection issues.
HUD may return half of an investor’s earnest money if their loan is denied, but remember it is very difficult for an investor to get their earnest money back from HUD if they cancel the contract. The earnest money amounts are $500 for contracts under $50,000 and $1,000 for contracts over $50,000.
Can owner-occupied buyers get their earnest money back?
HUD has very strict policies on earnest money returns and forfeitures. Investors have a very difficult time getting their earnest money back, but it is a little easier for owner-occupied buyers. HUD lists many reasons why they will return owner-occupants earnest money, the most common being loan denial. When you sign your contract, there will be a form called earnest money forfeiture policy. Make sure you read this carefully and understand exactly under what conditions HUD will return earnest money to buyers.
If an owner-occupant wants to get their earnest money back due to an inspection issue, make sure the inspeciton issue was not already listed on the HUD PCR (property condition report). If HUD already disclosed a problem with the house, HUD will not return the earnest money because of that problem.
How does HUD define owner-occupied?
The only way a buyer can be considered an owner-occupant is if the person living in the home will be on the deed when HUD sells the home. That occupant has to live in the home for at least a year and cannot buy any more HUD homes as an owner occupant in that first year. They must live in the home more than 50% of the time. You cannot simply leave the home vacant or leave a unit vacant. You must live there.
What happens to investors who commit fraud?
HUD makes owner-occupants sign a document confirming they are an owner occupant and if they are found to be an investor, HUD can fine them $250,000 with prison time. It is a federal crime to misrepresent yourself as an owner occupant when your true intention is as an investor. Not only can the buyer be fined and sent to prison, but the buyer’s agent and their entire office can also lose their ability to sell HUD homes. If you think you won’t get caught, remember there are many investors who would love to bid on HUD homes but can’t because of owner occupant rules, and they have no problem turning in other investors they see breaking the rules. Listing agents are also encouraged to keep an eye out for investors posing as owner-occupants.
Can repairs be made prior to closing on HUD homes?
HUD is very clear that they will not make any repairs prior to closing and the buyer is not allowed to alter the home in any way before closing. Some buyers may think it is not a big deal to fix a small plumbing leak or do some painting before closing. It is a very big deal! HUD homes are federal property and it is a felony to make any alterations before you own the home. If HUD finds out any repairs were made, they usually cancel the contract on the spot, take the buyer’s earnest money, investigate the buyer’s agent to see if they knew about it and then consider charges depending on the severity. Do not make any repairs, change the locks, remove signs or anything from the home before closing!
Owner-occupants have a distinct advantage when bidding on HUD homes. HUD allows owner-occupants to bid on HUD homes before investors can bid on HUD homes. On FHA-insured HUD homes, there is a 15-day owner occupant only bid period. Without going into the detail that I do in my other articles, FHA-insured HUD homes can get an FHA loan if the property needs less than $5,000 in repairs. On FHA-uninsured HUD homes, there is a 5-day owner occupant bid period. FHA-uninsured HUD homes have more than $5,000 in repairs needed and cannot go FHA unless you use an FHA 203K loan.
Under what circumstances can an owner-occupant sell a HUD home prior to living in it a year?
HUD allows owner-occupants to move out of a HUD home prior to living in the home for a year if they meet certain guidelines. It is always best to call HUD if you have to move out of a HUD home early as an owner occupant. If an owner-occupant has a change in location for a job, a death in the family, divorce, loss of a job or other extenuating circumstances, HUD may ease the owner-occupancy requirement.
How does the $1 HUD home and $100 down payment program work?
HUD will sell some of their homes for $1. Yes, that is not a typo, but do not expect to get a HUD home for that price. HUD only sells certain homes for $1 and they only sell them to non-profits or government agencies after the home has been for sale for an extended period of time. I never saw a home sell for $1 in my market the entire time I was listing HUD homes.
HUD also has a $100 down payment program that they occasionally offer. It is not available in every state and it is very rare that a buyer only needs $100 to buy the home. There are almost always other costs.
Conclusion
HUD homes can be complicated, but if you have a knowledgeable agent and lender they can be an amazing opportunity. If you happen to be eligible for the good neighbor next door program you may be able to buy a HUD home for 50% off! Just be careful pretending to be an owner-occupant when you are not, and make sure you understand the inspeciton and earnest money riles with HUD homes!
In my course The Complete Blueprint, I go even more in-depth on how to buy HUD homes. The Complete Blueprint is my most extensive course it covers every single aspect of my real estate business and how to replicate it yourself, including a 300-page guide, videos, call to actions, live coaching directly from me, an much, much more.
When you think about the best college towns in Georgia, there is a unique blend of southern charm, rich history and vibrant culture that come to mind. The towns featured below offer not just top-notch educational institutions, but also a memorable experience for students and full-time residents alike.
In this article, we will explore four of the best college towns in Georgia. So, grab a glass of sweet tea, kick your feet up and join us on this journey through Georgia’s finest college towns.
Nestled about 70 miles northeast of Atlanta, Athens is home to the University of Georgia, one of the oldest public universities in the United States. This quintessential college town is known for its lively music scene, which has produced bands like R.E.M. and the B-52s. In Athens, you can find a plethora of unique restaurants, bars and shops that cater to the eclectic tastes of college students and residents alike.
The downtown area around UGA’s Campus offers a variety of entertainment options, from art galleries to live music venues. For outdoor enthusiasts, the nearby State Botanical Garden of Georgia and Sandy Creek Park provide ample opportunity for hiking, biking and exploring nature. Sports fans will enjoy attending UGA’s competitive athletic programs, particularly the beloved football team.
Overall, Athens provides a perfect blend of small-town charm and big-city amenities, making it one of the best college towns in Georgia and the country.
Atlanta is home to several top-notch colleges and universities, including Georgia State University, Emory University, Georgia Tech and Morehouse College. This bustling metropolis offers something for everyone, from world-class restaurants and entertainment to top-tier professional sports teams.
Georgia State University is located in the heart of downtown Atlanta and is full of excitement and energy. Here students are free to pursue their passions, whatever they may be. From the High Museum of Art to the World of Coca-Cola and everything in between, there’s something for every student and recent grad in Atlanta. Additionally, the thriving nightlife in neighborhoods like Midtown and Little Five Points gives students their choice of a plethora of bars, clubs and live music venues to explore.
Emory University’s picturesque campus, located in historic Druid Hills, provides a serene environment for students while still being close to Atlanta’s many attractions. Nearby, the trendy Virginia-Highland neighborhood boasts an array of boutique shops, restaurants and bars to enjoy.
In Atlanta, students can take advantage of the city’s many internship and job opportunities, making it an excellent choice for those looking to launch their careers in the South after graduation.
Known for its stunning architecture and cobblestone streets, Savannah is home to the prestigious Savannah College of Art and Design (SCAD). This coastal city is steeped in history and boasts beautiful parks, historic homes and fascinating museums that attract tourists from around the world.
SCAD students have the unique opportunity to study in a living museum, as the university has repurposed many of the city’s historic buildings for academic use. The artsy vibe of Savannah is clear in its many galleries, boutiques and cultural events, making it an ideal location for creative minds of all pursuits.
Foodies will love exploring the city’s diverse culinary scene, which includes everything from traditional Southern fare to international cuisine. Savannah’s vibrant nightlife also provides plenty of entertainment options, from lively bars and clubs to ghost tours and historic pub crawls.
With its enchanting beauty and unique local culture, Savannah is undoubtedly one of the best college towns in Georgia for students who appreciate history and the arts.
Located in central Georgia, Macon is home to Mercer University and Wesleyan College. This charming city is steeped in musical history, having played a pivotal role in the development of Southern rock and R&B. Notable artists such as Little Richard, Otis Redding and the Allman Brothers Band all have roots in Macon.
Mercer University’s beautiful, historic campus is situated near downtown Macon, providing students with easy access to the city’s cultural and entertainment hub. The revitalized downtown area boasts a variety of unique shops, restaurants and bars, as well as the historic Grand Opera House, which hosts concerts, plays and other performances regularly.
Outdoor enthusiasts can explore the Ocmulgee Mounds National Historical Park, a prehistoric Native American site, or enjoy the scenic beauty of Amerson River Park. Additionally, music lovers and sports buffs can visit the Allman Brothers Band Museum and the Georgia Sports Hall of Fame to learn about the city’s rich musical heritage and the state’s athletic prowess.
Macon’s blend of history, culture and natural beauty make it a fantastic choice for students looking to experience the best college towns in Georgia.
Honorable Mentions
While Athens, Atlanta, Savannah and Macon are undoubtedly among the best college towns in Georgia, there are a couple other noteworthy destinations worth mentioning.
Located in southeast Georgia, Statesboro is home to Georgia Southern University. This rapidly growing college town is a friendly, tight-knit community that has an array of outdoor activities just minutes away. This includes hiking and birdwatching at the nearby George L. Smith State Park. The revitalized downtown area features a variety of restaurants, shops and entertainment options, making Statesboro a great choice for students who are looking for a smaller, close-knit college town experience.
Kennesaw, a suburb of Atlanta, is home to Kennesaw State University, which is one of the largest public universities in Georgia. The city offers a diverse range of cultural and recreational activities, from hiking at Kennesaw Mountain to shopping and dining at the popular Town Center at Cobb shopping center. Kennesaw’s focus on community and family-friendly atmosphere make it an appealing choice for students seeking a suburban college town experience.
Your Georgia college town awaits
Georgia is home to some of the best college towns in the country, each offering students a wide range of unique experiences and opportunities. It’s easy to see why Georgia is an incredible destination for higher education and unforgettable experiences. So, whether you’re a prospective student, a proud parent or just a visitor passing through, be sure to explore these amazing college towns in the Peach State!
The Federal Reserve announced another 25 basis point rate hike last week, bringing the federal funds rate to its highest level since 2007. But according to DoubleLine Capital Founder Jeffrey Gundlach, this should mark the end of the U.S. central bank’s hawkish stance.
“The Fed will not raise rates again,” he said in a tweet.
This is not the first time for Gundlach to predict that the Fed will pivot.
“I predict the Federal Reserve will be cutting rates substantially soon,” he said in a tweet in March. “I am wrong about 30% of the time so factor that into any decision-making.”
Nevertheless, a success rate of 70% is still pretty astounding in the investing realm. Over the years, Gundlach’s uncanny ability to predict trends and make profitable decisions in the bond market has earned him the moniker of Bond King.
If the billionaire investor is right this time, it could be good news for investors in these sectors.
Don’t miss:
Technology
Tech stocks have been the go-to choice for growth investors. But because of their growth potential, these companies actually got punished as interest rates went up.
To give you an idea, the S&P 500 has fallen about 13% since the beginning of 2022. The tech-centric Nasdaq Composite, on the other hand, plunged by a more painful 22% during the same period.
There are several possible explanations behind the phenomena.
Increasing interest rates can lead to higher discount rates used in valuation models, causing multiples to shrink — that’s bad for all stocks. But high-growth tech stocks usually have a larger portion of their value tied to future earnings and cash flows. As the discount rate used to value these future earnings and cash flows go up, these companies’ valuations can get hit particularly hard.
At the same time, tech companies in their growth phase often rely on borrowed money for research, development and expansion. High borrowing costs as a result of rate hikes can impact the profitability and growth prospects of these companies.
Tech moguls have been calling for rate cuts. Back in November 2022, Tesla Inc. CEO Elon Musk said the Fed “needs to cut interest rates immediately” or risk “massively amplifying the probability of a severe recession.” Ark Invest’s Cathie Wood — whose funds invest heavily in the tech sector — recently said that rising interest rates have hit her company’s strategy “like an earthquake.”
If the Fed pivots as Gundlach predicts, the sector would finally breathe a sigh of relief, and tech stocks could make a comeback.
Investors can access the sector through exchange-traded funds such as the Technology Select Sector SPDR Fund (NYSEARCA: XLK) and the iShares U.S. Technology ETF (NYSEARCA: IYW). You can also purchase shares of individual technology companies if you are willing to do thorough research and due diligence.
Real Estate
Real estate is another sector that’s sensitive to interest rates, and it’s easy to see why.
When the Fed raised interest rates aggressively to tame inflation, mortgage rates also shot up. And people found it more difficult to afford a property because of increased costs of borrowing. This dampened the demand for real estate.
Publicly traded real estate investment trusts (REITs) have long been a popular option for investors looking to tap into real estate. And their performance has been impacted by this rate hike cycle as well.
In 2022 — when the Fed announced seven rate hikes — the MSCI U.S. REIT Index tumbled 24.5%.
Rising interest rates increase REITs’ borrowing costs, reducing their profitability. At the same time, the increased competition from bonds and other interest-sensitive securities can make REITs less attractive to income investors.
If this rate hike cycle comes to an end, the real estate sector could see better days ahead.
Like most publicly-traded assets, REITs can be volatile. If you want to collect passive income from real estate but don’t want exposure to the stock market’s volatility, there are crowdfunding platforms that allow retail investors to invest directly in real estate with as little as $100 through the private market.
Read next:
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This article ‘The Fed Will Not Raise Rates Again’: Bond King Jeffrey Gundlach Says Rate Hikes Are Done — Is It Time For These 2 Sectors To Shine? originally appeared on Benzinga.com
It feels a little like 2006, but it’s entirely different, or so they say.
A lender by the name of Quontic Bank based out of Astoria, New York (Queens) has been offering its so-called “Lite Doc” loan to homeowners who can’t typically qualify for a mortgage.
The problem comes down to income, which can be a roadblock for many would-be homeowners, even if they have plenty of assets and great credit.
The beauty of Quontic Bank is that it’s designated as a Community Development Financial institution, or CDFI, meaning it is exempt from the Ability-to-Repay rule that generally applies to all home mortgages.
The ATR means underwriters must verify a borrower’s income, assets, job status, and their DTI ratio, among other things.
Because Quontic is a CDFI, which is supposed to generate “economic growth and opportunity” in the “most distressed communities,” it can bypass those stringent rules and make mortgages based on its own risk appetite.
Before you get in a tizzy, note that this new seemingly high-risk loan has some pretty strict underwriting criteria.
What Exactly Is Lite Doc?
Perhaps most important, the Lite Doc loan from Quontic Bank reportedly requires a 40% down payment. Yes, you read that right. A whopping 40%. I don’t know if any mortgage would ever be delinquent if it required a 40% down payment.
Today, home buyers are much more likely to put down 3% than they are 40%…and you know which ones will probably default first.
That removes a ton of the risk, but the Lite Doc loan doesn’t require income documentation if the borrower isn’t self-employed, which might be somewhat worrying.
Instead, they simply need to provide two months bank statements and verification of employment. This compares to standard underwriting protocol that calls for two years of tax returns, recent pay stubs, and so on.
But to lessen the risk even further, the Lite Doc loan also has a minimum FICO score of 700, as opposed to say the 580 minimum score needed to put just 3.5% down with an FHA loan.
That’s not all! The Lite Doc borrower also needs to show 12 months of reserves in the bank, that is, a full year of housing payments on the proposed loan including principal, interest, taxes, and insurance.
So to get this straight, the Lite Doc loan requires a 40% down payment, 700 credit score, 12 months reserves. Oh, and the property has to be your primary residence.
In other words, these loans probably won’t default anytime soon. The only weird part about the program is the fact that the Lite Doc loan is a five-year adjustable-rate mortgage.
That seemingly makes the loans riskier because they could adjust higher after just five years and if this program (or one like it) isn’t around then, these borrowers may be forced to sell if they can’t afford payments or refinance.
So far, just a small handful of these loans have been extended to borrowers in places like Miami and New York, apparently to immigrants who have the dough but not the steady job history required to get a traditional mortgage.
Could This Loan Be Better Than the Ones Major Banks Offer?
This whole thing made me think – are these loans that require less documentation better than the standard QM-compliant offerings being pitched by the likes of Bank of America, Chase, and Wells Fargo?
Just look at the yourFirst Mortgage or the Affordable Loan Solution, both of which require just 3% down payment and a 620 credit score.
That doesn’t sound like a recipe for a quality mortgage, especially if originated at a time when home prices are seen as lofty.
Sure, these borrowers might be able to qualify using full documentation, and the loans feature fixed interest rates, but what if the homeowner loses their job, or takes a pay cut?
The borrower who puts just 3% down doesn’t have much of a cushion (if any) when it comes time to sell to avoid default or foreclosure. The typical home sale may cost 8-10%, so 3% down simply won’t cut it.
Conversely, the borrower with a 60% LTV mortgage will have no trouble selling if they can’t keep up with payments, and without harming the issuing bank (or taxpayers).
I’m not saying we should usher in stated income loans again, but I do question the quality of super-low down payment mortgages coupled with what many would refer to as marginal-to-poor credit scores.