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Just down the street from my family’s Venice home, workers are smoothing plaster inside a 6,000-square-foot new house whose owners, a young couple from the Bay Area, will soon have a property worth $7 million.

Across from that mansion-to-be is an 11-unit apartment building whose cracked stucco could use a new coat of its mustard-colored paint. The families that live there come mostly from Oaxaca, Mexico, and many of the adults work as employees at restaurants in Venice and Marina del Rey.

Los Angeles is a city historically segregated by race and class. But in our slice of the city, multimillionaires in newly built villas live side by side with the affordable apartments of the people who clean their pools, watch their children and cook their El Pollo Loco orders.

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My family’s neighborhood may be an outlier — or moving inexorably toward full gentrification — but at least for the last three decades, it has also served as vibrant proof that the notion that affordable housing lowers property values is overblown, if not flat-out wrong.

That enduring belief has contributed to widespread not-in-my-backyard opposition that makes building affordable housing in higher-income areas so difficult.

“It is total NIMBYism,” said Adlai Wertman of USC’s Marshall School of Business. “It’s ‘I want to help poor people, just not in my neighborhood.’”

Our neighborhood provides plenty of anecdotal evidence that mixing housing and income levels doesn’t sink property values. In a four-block area, low- and moderate-income apartment buildings and multifamily units are sprinkled among six mega-mansions and older, middle-class single-family homes like ours, which was built in 1924. The lower-income units are not government-subsidized.

In the mustard-colored building, Marin Ceja, a self-employed pool technician, pays $2,000 per month for his two-bedroom apartment, more than $3,000 less than the average for a two-bedroom rental in Venice. Assuming Ceja’s across-the-street new neighbors financed their home with 20% down, they’ll be paying $20,000 per month.

The presence of lower-cost multiunit buildings hasn’t driven down the resale value of homes. The average sale price of homes in Venice has increased by a million dollars in the last 10 years. In the last year, while home prices have declined by 7% countywide, in our neighborhood they rose over 4%.

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Numerous studies show our corner of Venice, east of Lincoln Boulevard and north of Venice Boulevard, is not unique. Low-income housing has a positive impact, or no impact, on neighborhood house values, according to a majority of studies reviewed by A-Mark Foundation, the research and policy nonprofit I lead. Two studies concluded that low-income housing had negative effects on property values in some specific cases.

One 10-year study that looked at property values in the least affordable housing markets in the U.S. — 45% of which were in California — found that newly built low-income housing had no effect on state property values.

That’s been the experience of affordable housing builders too. Loren Bloch, who spent decades developing affordable housing in Southern California, told me that when he insisted on building 22 low-income housing units along with 37 market-rate units in Oxnard in 2001, other developers thought he was crazy.

“But people sucked them up,” he said, “and they lived side by side together.”

Oxnard real estate prices around Bloch’s development have risen by double digits since then.

Tom Safran spent four decades convincing wary, lawyered-up residents that mixed neighborhoods work for everyone, so long as the building quality is high.

After finally winning city approval for 154 affordable units in Del Rey on Culver Boulevard, Safran faced off against a handful of neighbors whose lawsuits delayed construction two and a half years, before they settled on 124 units — which more than 1,800 people applied for in 2013.

His company faced similar opposition to his Thatcher Yard development in Venice, despite bringing in Steve Giannetti, who designed Lady Gaga’s Malibu spread, as architect. Residents fought to scale back the project from 160 units to 98, overruling Safran’s contention that as long as valuable Venice land was available, it should house the most diverse kinds of units, and the largest number of them, that was reasonable.

“Communities work best when they have a range of incomes,” Safran told me. “When people who teach school or do policing or work behind the counter in the dry cleaners don’t have to drive an hour and a half, it creates a more successful society.”

In Los Angeles County, home prices have risen twice as much as wages in the last decade, and the lack of affordable housing drives homelessness, poverty, population loss and glaring income inequality. That’s why Gov. Gavin Newsom and L.A. Mayor Karen Bass have both called for every neighborhood, rich, poor or in-between, to accept affordable housing.

But the more upscale the neighborhood, the more resistance there is. Upper-income residents who stand in opposition wield a variety of excuses — increased traffic (Manhattan Beach), overcrowding (Redondo Beach), or potential harm to migrating mountain lions (Woodside, really?).

“We’ll never get affordable housing in the Palisades,” Wertman said of the upscale Democratic-voting neighborhood. “The world will end first.”

Former President Trump, as he often does, said the quiet part out loud in 2020 when he blocked an Obama-era rule intended to reduce racial segregation in communities. “I am happy to inform all of the people living their Suburban Lifestyle Dream that you will no longer be bothered or financially hurt by having low income housing built in your neighborhood,” Trump tweeted at the time.

But even studies looking specifically at “more affluent” neighborhoods have found the fears of affordable housing tanking housing prices and increasing crime are unfounded. A 2022 UC Irvine study found that on average in such areas in Orange County, home values increased following the opening of affordable housing.

“Overall, the data on actual home sales do not support the claim that affordable housing depresses local home values,” the authors concluded.

A 2019 Stanford University study showed that housing built using low-income housing tax credits led to a decrease in crime in lower-income neighborhoods and “does not increase crime in high-income areas.”

The Stanford study, unlike several others, did find that low-income housing built in higher-income neighborhoods decreased property values by 2.5%. That could be a result of increased housing supply, said Gary Painter, professor of social innovation at USC, or of residents preferring not to live near multifamily buildings. No studies have disentangled the impact of these two possibilities, he said.

Back to my neighborhood, where below-market rents mix with high-dollar mortgages and taqueros live beside techies. The diversity is not the product of planning so much as timing and evolution. It would be hard to replicate now, not least because land costs combined with beachside NIMBYism have made Venice a notoriously difficult place to build new housing of any kind. (The total number of housing units permitted now in Venice is half the number permitted in the late 1950s, according to an analysis by Dario Alvarez, president of community planning firm Pacific Urbanism.)

When I described the neighborhood to Painter, he said there’s a term for the older multiunit buildings around single-family homes like mine: naturally occurring affordable housing. As a building reaches the end of its useful life, it has fewer amenities and is less valued in the marketplace and therefore is more affordable.

But the result, at least for as long as we’ve been living here, is a vision of what L.A. neighborhoods could and should be: economically and racially mixed.

Painter said that to get that ideal citywide, “we need to build units in all areas of the city.” And not just more affordable housing, but more housing of all kinds.

“The reason that’s fair is that if we have more units, they are a lot easier to be made affordable. We need housing everywhere,” he said.

The more we build in every neighborhood, the more we’ll open up opportunities for people of all incomes to live together. Contrary to popular belief, if we do that, the world won’t end — your property values won’t even go down.

Rob Eshman is chief executive of the A-Mark Foundation.

Source: latimes.com

Apache is functioning normally

Do you ever wish you knew the secrets to attract wealth because your 9 to 5 isn’t paying the bills very well? You’re not alone! Today, we’ll talk about the 11 secret life hacks that rich people are doing to make gaining wealth easier.

We’ve compiled the best answers from Reddit, so you don’t have to do it yourself. Read this blog and shift your mindset with these lessons from the wealthy.

1. Organize Everything

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If you’re familiar with Marie Kondo, she specifically emphasizes that organizing and decluttering will have a huge impact our lives. It turns out that’s one of the life hacks of truly rich people.

One person said, “Allow me to ramble passionately about a hack of small consequence. Something I noticed about all the rich people’s houses is they have storage containers everywhere. The pantry isn’t piles of groceries shoved inside, it’s all in tidy bins, often matching, sometimes labeled. Their closets have shelves and drawers, not a single pole to hang items. Under their sinks are multiple bins and containers, sometimes on a pullout shelf/drawer. Their spices are ALL on racks, not just the few that fit in a singular rack with the rest piled on top or haphazardly in an adjacent cabinet.

“Their jewelry is organized like a utensil drawer and not shoved in a single box. There are trays or giant bowls by every entry door to toss your mail and keys instead of cluttering every flat surface. Imagine how much calmer your brain would be if you didn’t have to hunt through what feels like a disorganized garage sale everywhere you turn. You don’t have to bend over to rife through objects, you can bring a bin to you.

“I’m just a povvo, but I started ramping up my organizational game and it’s made a subtle but impactful difference in my daily life. Started with matching-sized Amazon boxes in the pantry and Dollar Tree fabric collapsible boxes for toiletries under the sinks and the closet floors, and built up from there. I’ve been slowly converting all my bathroom and kitchen shelves to pull-out drawers (this one is expensive).”

2. Buying in Bulk

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This life hack may not be applicable to every body because, in order to save a lot of money on purchases, particularly groceries, you must have the money to shell out first.

One user shared, “Rich people can afford to save money on purchases if they want. I guess if you are rich and don’t care about saving $ it doesn’t apply to you, but it’s definitely a big benefit if you’re a frugal rich person. If that makes sense. A small tiny example. Most would categorize me as wealthy. I buy high-end groceries but aim to do it for as cheap as possible. When our Whole Foods has a sale on our favorite frozen pizzas, normally $12.99 and on sale for $7.99, I buy 10 of them and load up my deep freezer. The fact that I was able to save $50 is only possible because 1) I have enough money to shell out $80 for the upfront cost on the pizzas, and 2) I have a deep freezer to store it in. Neither of those things would be possible without money.”

3. Semi-Permanent Cosmetics

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Beauty, in whatever form, is expensive—and only the rich don’t think twice about spending such a huge amount on beautifying themselves or their surroundings.

“…I think a lot of beauty at that level is faked, just like the lawns are faked. Spray tans, teeth caps, really expensive hair extensions and plugs, professional makeup, tailoring, even surgery, etc. etc. I was shocked when I learned about caps for teeth. I didn’t even know that was a thing. Feels like a total cheat code. Can even avoid the expense and discomfort of braces. There are a lot of beauty ‘hacks’ that are not accessible unless you have $$$,” someone shared.

4. Hacking Expensive Purchases

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One person commented, “I’ve worked for a rich family and learned a couple hacks. Everyone else is correct. They just hire things out. If you’re genuinely curious, then I’ll share two things I learned in my job that are specific to the wealthy lifestyle. First, moths love real cashmere so you have to keep cedar in your closets to keep them away from eating your sweaters. Second, if you are flying private and only medium-wealthy not truly a fan of throwing money down the drain unnecessarily, it is actually more affordable to ship your luggage via UPS than pay for the additional fuel it will take to carry it in the plane with you.”

Another one shared, “I knew a lady who was, let’s just say she was in a different tax bracket. She and her late husband never took a road trip. They flew everywhere. He was a pilot, and they owned their own plane. They would fly somewhere, and if she ran out of clean clothes, she would just buy more. She’d ship her dirty clothes back home, and the maid would have everything dry-cleaned by the time the lady got back. I can’t imagine how many clothes this lady had. Or maybe she donated them on a regular basis?”

5. Networking

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We’re familiar with networking, but it really is one of the life hacks that truly rich people are doing. They leverage the people they know who are also rich and powerful, and that’s what makes them too.

One person shared, “Networking. Powerful people have a large network of connections to get what they want. If you aren’t going out of your way to build ties with people who have things you want like wealth or power, the alternative is working very hard and hoping you get noticed—which doesn’t work most of the time because, unfortunately, the meritocracy is a lie. Learn to meet people and maintain professional connections, not just friendships. And no modesty, that’s a killer.”

The second person replied, “The best network—Politicians, Thieves, Police, Money Laundering—Mafia. Exist all around.”

6. Know What’s Worth Your Time

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“When you are good at what you do to make money, you hire pros to do things that you need and get them properly done. That’s classic economics of the division of labor. You focus on what you do well and make more money. That’s the opposite of downward spiral. The concrete example is that I unblock my toilets and fix leaks. I also change my engine oil. Because it’s cheaper for me to do it. If my pay rate is higher than the pros, if course I’ll hire someone. That saves me money,” one person said.

“Sure… but I kind of hate how many people try to apply this to a typical salary worker. No one is gonna pay me to work overtime on a Saturday at my hourly rate (and I don’t want to), and it’s easier to work on a house project for a few hours than find a 2nd job. Many people point to your example, but they either don’t have time for projects cause they work 60 hours a week or prefer to use their disposable income and do something else with their free time. They are not financial wizards, they just make other choices based on circumstances, and that is fine,” argued another commenter. 

Another user added, “Yeah, not every minute of my day is monetize-able. Someone once said Bill Gates is so rich that he loses money if he stops to pick up a penny in the street. No, he doesn’t. He didn’t cease to earn money for doing it. Rich people hire others to change their oil because it gives them back time for leisure.”

7. Buy Quality the First Time

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One person said, “I was taught to always buy the best of anything I can the first time so I don’t waste my time, money, or efforts on junk. That bled over into everything. Relationships. Experiences. It becomes a mindset and lifestyle. I think that’s what you’re seeing when you look at that neighborhood.”

Another one replied, “This right here. If you want to buy a new piece of furniture, TV, car, etc… Buy nice things and buy quality. It’ll last for years and years. Also, pay cash. Don’t bother financing it. That’s just more wasted money.”

Another user quipped, “Buy once, cry once.”

8. Weigh your Options

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“Not really a hack but spending dollars so they count. If there’s a gym that’s $50 a month but is 20 mins away and they’ll only go once a week, and there’s one 2 mins away that’s $200 but they’ll go every day, spend the extra money. The $50 option is a waste. This can be applied in many circumstances,” one person shared.

9. Elegant Appearance

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One person shared their experience while working with truly rich people, “A few things I’ve noticed when working for wealthy people. They look rich even in casual clothes because they get everything tailored, even simple white shirts and jeans so they look expensive even when they aren’t.

“A lot of accessories like shoes, bags and jewelry are custom made which can be a better option if you’re going to spend a lot on designer brands anyway, and they will be unique. They don’t just go to the gym, they have a personal trainer who focuses on that toned without being too muscular look, so they look naturally hot without trying.

“Getting blow dry right before an event makes you look polished. I worked for a woman who never washed her own hair, and she always looked amazing. I saw people spend a lot of money on wardrobe staples like jackets and classics, but they would only buy high street seasonal pieces to keep them in style.

“They sell designer pieces to concession stores after wearing them a few times and basically get 50-80% of the cost back depending on the designer. Having lunch at a Michelin-star restaraunt can be slightly more affordable than dinner but you still get the experience. Having drinks at the restaurant bar so you can be ‘seen’ and mingle but don’t have to buy dinner. Going to clubs and events on weekdays means you are more likely to get in, get a table/ticket and it can be less expensive.”

10. Excellent “Talkers”

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One person shared, “When I was doing my first startup I saw ‘new money’ people. In school I saw ‘old money’ people. There are all types of rich people and these types have their own ways. They do live in the same areas though. They recognize each other by their watch, type of clothes and behavior. And you can see if they are new rich, old rich, dem or rep by these things too. Their kids go to an endless amount of extracurricular activities. Here it is hockey and tennis, sometimes baseball. The parents do it so their kids build their network (I mean 5year olds).

“Rich people have some skills, but the main skill is talking. They are great at talking. It used to put me off. So and so became the director of yadayada. Why? The only thing he can do is talk. And that is precisely the point. They don’t get so stressed. They just talk for a living. Everything comes from their network. People like listening to their stories. But they cannot do anything of value other than talking. They hire people for that. Duh. Don’t be apologetic. Don’t do stuff worth 10$ an hour if you can make more. Do lots of self-care. And be a professional talker. Listen to people, look at their behavior and clothing, and copy that in your own way.”

Someone added, “I agree with this comment but will extend it further. You call it ‘just talking’ to anyone that will listen, but what they really are doing is ‘selling.’ They are selling their latest ideas, pitches, schemes, problems, solutions, whatever, etc. And their audience (other rich people) love to talk too, so the audience then adds on to those ideas, sometimes with money or introductions to other people with money. And it snowballs because of the network effect.”

11. Etiquette and Mannerisms

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“You have a lot of time for personal maintenance and improvement if you don’t have to worry about cooking dinner or doing laundry. Some things, like good etiquette, are made very important from a very young age (hence the napkin folding, knowing what course to use which fork, how to properly address folks in a formal setting, etc) it’s a social code that helps identify who is and who isn’t,” one person stated.

Another one added in agreement, “Exactly. It’s very subtle and says a great deal.”

Source: Reddit.

Image Credit: Shutterstock – Denis Makarenko

Who is one actress you can never stand watching, no matter their role?  After polling the internet, these were the top-voted actresses that people couldn’t stand watching.

10 Actresses People Despise Watching Regardless of Their Role

These 7 Celebrities are Genuinely Good People

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We’ve all heard the famous adage that “no publicity is bad publicity,” and while it tends to be accurate, there are certainly exceptions. But what about those few stars who stay out of the limelight and get along without a hint of trouble? 

These 7 Celebrities are Genuinely Good People

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Have you ever known someone and thought you liked them—until you learned about their hobbies? Then you get to know them and then you’re like, “Wow, red flag.” Well, you’re not alone.

These 10 Activities Are an Immediate Red Flag

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Some celebrities definitely seem to enjoy the limelight and keep working to stay in the public eye. While others quickly move out of the spotlight. Many of these actors and actresses stepped out of the spotlight to live a more private life without constant media pressures.

10 Celebrities That Made the Big Times Then Disappeared Off The Face of the Earth

Image Credit: Troma Entertainment

We’ve all been there – sitting through a movie that we can’t help but cringe at, but somehow it still manages to hold a special place in our hearts.

These 10 Terrible Movies Are Still People’s Favorites



About the Author



Source: financequickfix.com

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On a street corner near our house is a store called The Dig, which advertises “most clothes $3 – $4 – $5”. Many of these are items of the latest fashions, which have been rejected for whatever reason. Clean and organized, the store also has dressing rooms, something many thrift stores lack. I used to mock Kris for going to The Dig. It looked like a dive. Then I joined her for a trip a couple of weeks ago — now I’m a convert.

I buy most of my clothing at one of two places: Costco or the local thrift shops. It makes me wince to pay more than $20 for a piece of clothing. (Unless it’s something top quality, like a Filson jacket, in which case I’ll gladly pay $150.) Costco has styles I like, but the selection is limited, and the prices are three times those at thrift stores. Thrift stores have a huge selection, but the garments are often flawed. And to find anything good, you have to sort through tons of junk.

Used clothing stores like The Dig are a compromise. The prices are better than at Costco. The selection isn’t as wide as you might find at a thrift store, but the quality is generally better. Here are some tips about shopping for second-hand clothes. (Kris gave a lot of help with these.)

  1. Set a budget. This is difficult at first — you don’t know how much things cost. But eventually you’ll be able to tell yourself, “I’m going spend $20 today”. It becomes a game to see how much you can buy for $20.
  2. Discard your prejudices. Some people consider thrift stores and used clothing shops nasty dirty places. Some are. Most aren’t. Explore your neighborhood. Find a shop or two that you like, and you’ll be hooked. (My mother-in-law was nonplused when we shopped for used clothes on our San Francisco vacation, but even she became excited when she found a new pair of her favorite Birkenstocks — in her size! — for just $8.)
  3. Go with a friend. It’s good to have a second opinion. Your friend may have an eye for what looks good on you — and vice versa.
  4. Try things on. Sizes vary widely between manufacturers and even by eras. (Today’s clothes have looser fits.) But go in knowing your general size and measurements. Note that some places don’t have dressing rooms, so it’s smart to wear a modest thin layer in case you need to strip down in the aisle.
  5. Examine each item thoroughly. It sucks to get home to find your new shirt has a hole in the pocket. Or that the slacks you thought were a steal actually have a broken zipper.
  6. Check washing instructions. You don’t want to pay $3 for a silk blouse if you’ll never dry-clean it.
  7. Use the tags as a guide to find quality brands you like, but don’t limit yourself. Sometimes a brand you’ve never heard of can yield a favorite piece of clothing.
  8. Think layers. Maybe that shirt with a stain on the sleeve has a great collar for wearing under a sweater. For $3, you can afford to buy a single-purpose shirt.
  9. Use thrift stores as a way to diversify your wardrobe. Buy colors and styles on which you normally wouldn’t spend much. Wear the new clothes a few times to see how you like them, and to gauge the reaction of others.
  10. Used clothing stores are great for certain accessories. Why pay $30 for a new belt in a department store when you can get a better belt in your size for just $2? I like to shop at second-hand stores for hats. (Nice hats.)
  11. Look for clothes new with tags. Sometimes unsold department store inventory finds its way to used clothing stores and thrift shops. You’ll generally pay more for these items, but not much.
  12. If you won’t wear it, don’t buy it. You don’t save money buying a $3 shirt if it just sits in your closet for two years.
  13. Wash clothes when you get them home.
  14. Watch for sales. Used clothing stores (and thrift stores) run periodic specials. Our favorite local store just ran a half-off sale. The local thrift stores often have specials on certain items.
  15. If you go to the same store often, ask when they rotate stock. Stores get new shipments regularly. Most also have extra stock in storage. If you become familiar with the owners, you might even ask them to keep an eye out for particular items.
  16. If buying used clothes becomes a habit, institute a “one in-one out policy”. Every time you bring home something new, get rid of something old. (Give it away, take it to a thrift store, or save it for a garage sale.)
  17. Have fun! Buying used clothing can save you money. It’s also a fun way to kill a Saturday afternoon. At $3 an item, you can afford to be adventurous sometimes.

Used clothes shopping isn’t just for women. Men can find some fantastic deals, too. I hate to shop for clothes in department stores, but I love the adventure of buying used clothes. Don’t dismiss the idea out of hand. Good second-hand stores aren’t smelly, dirty, or scary — they’re just great places to find bargain clothing.

Source: getrichslowly.org

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Last weekend, I played paintball for the second time in my life. I had great fun charging through undergrowth, hiding behind logs, and shooting my friends at close range. Paintball is a blast, but I’m amazed at how much it costs to play. We each paid $25 to use the field and an additional $25 for paint. The total cost was $50 for about five hours of playtime — roughly $10 an hour.

On the drive home, we compared the cost of paintball to the cost of laser tag. Last fall, we spent $7 per person for each twenty minute game of laser tag. That’s $21/hour — twice the cost of paintball. Some of our group felt the higher cost was worth it; others thought paintball was a much better deal.

This made me wonder: What are the hourly costs for other recreational activities? How much do we spend to have fun? Do people consider how much pastimes cost, and which would they continue to pursue if they realized how much they were spending?

I do this sort of geeky number-crunching all the time. In March, I broke down the numbers to discover how much Kris and I were spending on television. I learned that it cost us $3.16/hour for digital cable, but only $0.90/hour for Netflix. We cut back to basic cable.

Ten years ago, I paid $700 for a new bicycle, on which I’ve since logged about 3,000 miles. At roughly 15 miles per hour, that’s 200 hours of use, or $3.50/hour. That seems moderately expensive until I factor in the health benefits. But these are difficult to quantify — what do the benefits of biking save me in the long run? Calculations like this can become needlessly complex.

Still, it’s easy to estimate how much most activities cost. Here’s what I spend on various pastimes:

  • Laser tag: $20/hour
  • Paintball: $10/hour
  • Biking: $3.50/hour, but less every time I ride
  • Bowling: $5/hour
  • Neighborhood walk with Kris: free
  • Seattle Mariners game: $10/hour, plus food, plus 300+ mile round-trip
  • Portland Beavers game: $5/hour, plus food, plus short travel
  • My nephew’s t-ball game: free
  • Movie theater: $5/hour
  • Cable TV: $3/hour
  • Shows from iTunes: $2/hour
  • Netflix: $1/hour
  • Nintendo Wii: About $10/hour so far, but decreasing with time
  • Board games: $3/hour (on average)
  • Contract bridge: virtually free ($1 for a pack of cards)
  • The opera: $25/hour, plus dinner plus parking
  • Community theater: $2.50/hour

Neither laser tag nor the opera seem that appealing after running the numbers. Don’t get me wrong: I’m not saying that you should base your recreational choices solely on their hourly cost, but I do think you should keep money in mind. Try to discover inexpensive (or free!) sources of entertainment.

For example, reading library books is pretty cheap. A new $25 hardback might take five hours to read, for a cost of $5/hour. If you buy the book used, you might only spend $1/hour. But if you borrow the book from the library, you get to read it for free.

The most expensive recreational activity I ever participated in was a season of city league soccer. It cost me $100 for ten games, or about $5/hour. That’s not so bad. But then I tore out my ACL, which required expensive surgery. Even with insurance, I was out $2,000. Ultimately my season of soccer cost me over $100/hour!

How much do your favorite activities cost? Which are worth it? Which are not?

This article originated with a discussion in the forums.

Source: getrichslowly.org

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Fuel prices have been hovering at record levels around the United States for the past few weeks. Now is a good time to review the best ways to improve your gas mileage and save money at the tank. I scoured dozens of websites and read hundreds of tips — these are the best of the bunch.

Save Money With Your Vehicle

Purchase a fuel-efficient car
The best way to save money on gas is to drive a fuel-efficient car. It’s probably impractical to replace your current car for something that costs less to run, but if you’re in the market for a new vehicle, keep fuel economy in mind. Consumer Reports has several lists of fuel-efficient vehicles:

  • A list of the most fuel-efficient cars they’ve tested (CR loves the Toyota Prius)
  • A list of fuel-efficient SUVs
  • A list of cars that combine fuel efficiency and performance

This calculator from fueleconomy.gov allows you to compare the cost difference between two vehicles based on their MPG.

Keep your vehicle well maintained
A car in poor running condition will use more gas than one that has been tuned up. According to this checklist at Advance Auto Parts, a dirty air filter can reduce gas mileage up to 20%. They also note that spark plugs in poor condition can reduce gas mileage up to 12%.

Be wary of gas-saving products
The U.S. Federal Trade Commission warns that most gas-saving products are bogus: “Be wary of any gas-saving claims for automotive devices or oil and gas additives. Even for the few gas-saving products that have been found to work, the savings have been small.” Consumer Reports says, “Don’t waste your money.”

Keep tires properly inflated
Underinflated tires aren’t just dangerous — they devour fuel economy by as much as 25%! (I know this from experience — whenever I notice a drop in MPG, my tires are usually low.) Overinflated tires aren’t efficient, either. Also keep your tires balanced and in alignment.

Save Money by Thinking Ahead

Find the best prices
Use the web to research the lowest prices in your neighborhood. For example, GasBuddy.com is “a network of more than 179+ gas price information websites that help you find low gasoline prices.”

Buy gas from a wholesale club
Some Costco or Sam’s Club stores offer their members discounts of up to ten cents per gallon on fuel. Our local Safeway store gives us a three-cent discount on gas after we spend a certain amount on groceries. (Though we’d have to drive 25 miles to find a place to use it!)

Alter your commute time
If possible, schedule your trips and errands for times when traffic is lighter. In an insanely detailed article, Omninerd found that commute times varied widely depending on the time the author left the house. If your company allows it, try coming in earlier or later in order to avoid rush hour.

Optimize your travel
Consolidate trips: If you know you have to buy groceries, take your clothes to the dry cleaner at the same time, and then drop little Johnny at soccer practice. Combine multiple trips into one.

Lighten your load
Carry only the bare necessities — don’t haul things in your trunk. “For every extra 250 pounds your engine hauls, the car loses about one mile per gallon in fuel economy.” [via Bankrate]

Reduce drag
About half of your vehicle’s energy is expended overcoming air resistance. (The other half is expended in acceleration.) Reduce your car’s workload — remove anything that might cause drag: luggage racks, bike racks, ski racks, etc,

Save Money at the Pump

Buy gas on Wednesdays
“Gas prices are statistically the cheapest on Wednesdays, but this is only true over a large number of days. It won’t be true every week.” Gas prices often jump before holidays, too. [via WikiHow]

Don’t go out of your way to save a few pennies on gas
If it’s convenient to shop at a cheaper place, do so. If not, don’t. On a ten-gallon fill-up, saving five cents a gallon only nets you fifty cents. My car costs about 36 cents per mile to operate. It doesn’t make sense for me to go a mile out of my way to find cheaper gas.

Buy gas during the coolest times of the day
“During these times gasoline is densest. Keep in mind – gas pumps measure volumes of gasoline, not densities of fuel concentration. You are charged according to ‘volume of measurement’.” [via HowToAdvice.com]

Use the right octane level for your car
Using premium gasoline in an engine designed to run on regular doesn’t improve performance. Even some vehicles that call for higher octane fuels can run on regular unleaded, though with some loss of performance. (Check your owner’s manual.) You can save money by using the lowest octane rated gasoline that your car will tolerate.

Don’t top off your tank
Trust the auto-shutoff. Overfilling can lead to wasted gas.

Be sure your gas cap is tight
“Improperly seated gas caps allow 147 million gallons of fuel to vaporize every year in the U.S.” [via Advance Auto Parts]

Use a gas credit card
I don’t like credit cards, but the best gas rewards credit cards can be a good way to save a few cents per gallon. Just be sure to pay off your balance at the end of the month!

The Nut Behind the Wheel

Drive at a constant moderate speed
Edmunds.com found that the best way to improve fuel efficiency was to accelerate slowly and to brake over a longer distance. Aside from purchasing a new vehicle, this is the single most effective step you can take to reduce your costs. According to fueleconomy.gov: “As a rule of thumb, you can assume that each 5 mph you drive over 60 mph is like paying an additional $0.20 per gallon for gas.”

Use cruise control
If you’re like me, your driving speed tends to fluctuate. Cruise control takes the human element out of the equation and keeps driving speeds steady. It’s the easy way to drive at a constant moderate pace.

Don’t idle
Turn off your engine if you’ll be idling for more than thirty seconds. Starting your vehicle does use a burst of fuel, but not as much as allowing the engine to idle too long.

Anticipate stop signs and lights
Plan ahead. The less you have to stop, the better your gas mileage. Make it a game to catch all of the green lights. Laugh at the other guy as he sprints from red to red.

Keep your cool
Most people claim that it makes more sense to use air conditioning on the highway and to roll down the windows in city traffic. It’s commonly claimed that either method is going to reduce your fuel economy by about 10%. But according to research performed by found, there’s no real difference between driving with the windows down or using the air conditioner. Consumer Reports obtained similar results:

Air conditioning uses about 1 mpg, but safety (and comfort) increase with use. Opening windows made no significant difference in our gas mileage.

Do what works for you. (But please: don’t run your air conditioner with the windows open.)

Drive less!!!
Walk. Ride your bike. Take public transit. Carpool. Combine errands. It’s obvious, but easy to forget: the less you drive, the less you’ll spend on gas.

Additional Resources

For more information on fuel economy, check out the following sites:

What are your favorite tips and tricks for saving money on gas?

Source: getrichslowly.org

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Darren Dreifort, the former Major League Baseball pitcher for the Los Angeles Dodgers is ready to part ways with his house in the coveted Pacific Palisades health issues, is married to former sports journalist Krystal Fernandez. The two have been living in the Pacific Palisades abode ever since they got married in 2010, and this is the first time the property is on the market since they purchased it 14 years ago for $3 million, public records show.

Now, the 7,698-square-foot, 3-level home landed on the market with an $8.5 million price tag (Adam Jaret and Ally Jaret with Compass hold the listing) — and we’re here to give you a quick tour of the lovely family home.

Photo credit: Tea Tree Productions courtesy of Compass

Set just a block away from Asilomar Beach and State Park (also known as Monterey Peninsula’s “Refuge by the Sea”), Dreitfort’s house sits on a prime corner lot in El Medio Bluffs — a seaside hamlet that’s often touted as a “bespoke coastal village”.

With 7 bedrooms, 8 bathrooms (7 full and 1 half-bath), the property has 7,698 square feet of living space spread across three floors.

The main floor has an office, a bedroom with an en-suite bathroom, formal living, dining room, family room with fireplace, and a spectacular kitchen with a huge island and generously-sized casual dining banquette — that looks like the perfect gathering place for the whole family.

Photo credit: Tea Tree Productions courtesy of Compass
Photo credit: Tea Tree Productions courtesy of Compass
Photo credit: Tea Tree Productions courtesy of Compass
Photo credit: Tea Tree Productions courtesy of Compass
Photo credit: Tea Tree Productions courtesy of Compass
Photo credit: Tea Tree Productions courtesy of Compass
Photo credit: Tea Tree Productions courtesy of Compass
Photo credit: Tea Tree Productions courtesy of Compass

The top floor features the primary suite and 3 more large bedrooms with en-suite bathrooms, one more inviting than the next.

Photo credit: Tea Tree Productions courtesy of Compass
Photo credit: Tea Tree Productions courtesy of Compass
Photo credit: Tea Tree Productions courtesy of Compass

There’s even more space on the lower level (which has its own separate entrance), where we find 2 more bedroom suites, a kitchen, yoga/ fitness studio, media/ game room and tons of storage.

“Located a half block away from the El Medio bluffs, this 7,700-square-foot California coastal residence boasts an open living space, game room, home theater, gym, and yoga studio, along with an expansive rooftop deck with ocean and mountain views, large backyard, fitness pool and basketball court – perfect for the quintessential Pailsadian family,” listing agent Adam Jaret told us in an email.

Darren Dreifort’s house is located in one of Los Angeles’ priciest and most desirable neighborhoods, Pacific Palisades. Set on the city’s southern bluffs, this affluent neighborhood is known for its beautiful canyons and stunning beaches, its vibrant “downtown” center (The Village), and its proximity to Malibu and Santa Monica.

“The market is still strong for Pacific Palisades, and we anticipate a quick sale due to low inventory and high demand in the neighborhood,” Jaret added.

More stories

Inside MLB All-Star Mark Melancon’s $11M waterfront home in Florida

Boxer Sugar Ray Leonard’s house in Pacific Palisades is a modern-day palace

After a streak of savvy real estate investments, Arnold Schwarzenegger now lives in a Pacific Palisades mansion

Source: fancypantshomes.com

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Irvine, California, is renowned for its picturesque landscapes, master-planned communities, and commitment to green spaces. Within this vibrant city, you’ll find an array of exceptional parks that offer residents and visitors an opportunity to bask in the beauty of Southern California’s outdoors. If you’re considering relocating and renting an apartment in Irvine or buying a home, you’ll be delighted to discover the plethora of well-loved parks. Whether you’re looking to enjoy a leisurely day with family, embark on an adventure, or simply unwind amidst nature, these parks in Irvine offer many options. In this Redfin article, we’ll explore 7 of the most popular parks in Irvine, California. 

1. Orange County Great Park

Spanning over 1,300 acres, the Orange County Great Park is a massive recreational hub that features sports fields, a carousel, an iconic helium balloon ride offering panoramic views, and even a farmer’s market. The Palm Court Arts Complex within the park houses an art gallery and artist studios, making it a cultural oasis in addition to its outdoor offerings. The Great Park is a testament to Irvine’s commitment to providing ample green spaces for its residents.

2. William R. Mason Regional Park

William R. Mason Regional Park is an idyllic haven spread across 339 acres, nestled in the heart of Irvine. The park boasts serene lakes, sprawling picnic areas, and shaded playgrounds. Visitors can rent pedal boats to explore the lake or embark on leisurely walks along its scenic trails. With well-maintained amenities and lush landscapes, Mason Park remains a favorite destination for those seeking a tranquil escape.

3. Quail Hill Loop Trail 

Nature lovers and hiking enthusiasts will find solace in Quail Hill Loop Trail. This 2.8-mile loop trail weaves through the Quail Hill Preserve, offering captivating vistas of Irvine’s preserved open spaces. As you traverse the trail, you’ll encounter a diverse range of native flora and fauna, making it a perfect spot for birdwatching and wildlife observation. The serene surroundings make Quail Hill Loop Trail a hidden gem for hikers of all ages and abilities.

4. Heritage Park

Situated in the Woodbridge community, Heritage Park exudes a sense of history and charm. The park’s highlight is the Irvine Historical Museum, which provides insights into the city’s rich heritage and development. Additionally, Heritage Park offers well-manicured gardens, a large lawn area for gatherings, and peaceful walking paths. It’s an ideal spot to soak in the beauty of nature while appreciating Irvine’s cultural legacy.

5. Turtle Rock Community Park

Turtle Rock Community Park offers a delightful blend of recreational facilities and natural beauty. This park features sports fields, tennis courts, a playground, and picnic areas for families to enjoy. The park’s lush greenery and mature trees create a serene ambiance that’s perfect for unwinding and connecting with nature. Whether you’re seeking an active day out or a leisurely picnic, Turtle Rock Community Park has you covered.

6. Bommer Canyon

For those craving a more rugged outdoor adventure, Bommer Canyon is a must-visit destination. This nature preserve is situated within the foothills of the Santa Ana Mountains and offers a network of hiking and biking trails that wind through picturesque landscapes. Bommer Canyon’s serene wilderness and sweeping vistas make it an excellent escape from the urban bustle, offering an immersive nature experience right in the heart of Irvine.

7. Deerfield Community Park

Deerfield Community Park is a beloved neighborhood park known for its family-friendly amenities and welcoming atmosphere. The park features sports fields, basketball courts, and a playground, providing ample opportunities for recreation and outdoor play. With its open green spaces and shaded picnic areas, Deerfield Community Park is an inviting spot for gatherings and community events.

A final note on parks in Irvine 

Irvine, California, stands as a shining example of a city that values green spaces and outdoor experiences. From expansive regional parks to intimate neighborhood oases, Irvine’s parks cater to diverse interests and offer residents and visitors a chance to appreciate the natural beauty of the outdoors. So, whether you’re seeking tranquility in nature or a day filled with recreational activities, be sure to explore these remarkable parks in Irvine.

Source: redfin.com

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Amanda recently sent J.D. an e-mail looking for advice about gift-giving:

My husband and I have made huge lifestyle changes since our son was born with congenital heart disease four years ago. He’s had five open-heart-surgeries, and we’ve had some killer medical bills. My husband stays home with both of our kids to help prevent Liam from getting sick too often, so we’ve gone down to one income, one car, basic cable, and a really aggressive budget.

One of our worst budget breakers however is gifts. I have eleven nieces and nephews, two kids, etc. At Christmas we’ve convinced both sides to just do a name exchange and then we only have to buy for two nieces/nephews on either side, which helps and we’ve just outright stopped exchanging gifts with our brothers & sisters, but there are still our parents, his grandparents, kids of friends who have birthday parties, and graduations, weddings, and baby showers!

We actually do plan most of these things into discretionary spending since we know when people have birthdays, but it’s always those gotchas like weddings and new babies (and we didn’t pre-think graduations with this year’s planning).

Could you offer any advice on fitting generosity and gift giving into a frugal budget? No one wants to be a grinch, but it really adds up some months. Sometimes, it’s half of our discretionary spending just to get small gifts (we only spend $10-15/kid!).

Ah, Amanda, I hear you! Gifts can be a budgeter’s downfall! Many of us readily accept our own sacrifices in the name of being frugal, but don’t want to seem “cheap” when it comes to giving gifts to others. I’ve struggled with both sides of this issue.

One side of me likes choosing and giving gifts, likes having those gifts appreciated, likes receiving gifts in return. But the other side opposes the commercialism and expectations that accompany holidays and occasions. Too often, hastily-purchased gifts can seem like a substitute for the spare time and energy we don’t have to make a gift meaningful. These gifts can be merely an obligation, which is no fun for either giver or recipient.

For big family gift-oriented occasions like Christmas (Hanukkah, Kwanzaa, etc), you must have “The Talk”. In some families, money is a difficult subject, but your options are either to continue spending more than you want on presents, or to mystify everyone when you cut them off cold turkey. A good way to start is to explain your budget goals, as in, “We’re starting to save for the kids’ education funds,” “…to buy a house,” “to be able to afford to live on one salary,” “pay off the credit cards” or something like that — just make sure you’re being honest.

Whatever you do, don’t insist that everyone stop giving gifts to you (or your kids). You have the right to stop giving gifts, but for many people, being generous with presents is a true pleasure and you should avoid depriving them of that pleasure. It may seem wrong to accept without giving, but you can give back in other ways. Of course, your relatives and friends may be relieved at the prospect of the never-ending gift-exchange ending — maybe they were just too shy to bring it up.

If you don’t want to stop all gifts, here are some ideas to cut costs.

Draw names. As Amanda does, this can allow you to focus on one or two recipients instead of the whole clan. There are various arrangements. Some families write their name and a gift suggestion or two on a slip of paper. In some systems, adults pick an adult and each kid gives to a kid (with adult help as needed). Or, if everyone is gathering together, each person can bring one gift (marked as adult or child) and you can do a sort of “Yankee swap” exchange where unwrapped presents can be stolen or traded until everyone ends up with someone.

Be creative. On J.D.’s side of the family, we have been doing $5 gifts for several years. Everyone (7 adults, 4 kids) buys a $5 (or under) gift for everyone else. (This was my sister-in-law’s idea.) J.D.’s mother asked to be excepted — she loves piling gifts on everyone and exercises her grandmotherly rights to do so. The $5 limit has forced us to be bargain hunters and the results are often both surprising and hilarious. We found a practically new set of drafting pens for a brother’s gift: $80 new, marked as $10 at a garage sale but we bargained it down to five!

Emphasize the experience. Some people have more time than money. If you fit in that category, you can use it to your advantage for all sorts of occasions. Do friends have a new baby? Deliver dinner to the new parents, then stay to hold the baby while they eat the meal. Clean up afterwards, of course. Nieces and nephews? For that special occasion, invite them to join your family for camping, a hike, miniature golf — whatever your family does for fun. You’ll all get to know each other better, too. Parents and grandparents often would rather have you spend time than money on them, as well. Invite them over for brunch, or go feed the ducks at the park, or hear a free concert together.

Don’t turn your nose up at used. Aren’t we silly Americans! We talk about how great recycling is but we want everything we get to be new, new, new! It’s all about mindset. For kids’ toys, as long as they’re in safe condition, the fact that they’re “pre-owned” means little to a child — unless non-stop commercialism has already gotten to them! J.D. and I found two wooden sleds set out for the trash pickup in a ritzy neighborhood. After swallowing our hesitation, we grabbed them. With a cleaning and a few minor repairs, they were good to go — and looked great under the Christmas tree. Keep your eyes open all year for bargains, or arrange a toy exchange or toy hand-me-down system with friends and neighbors. Get to know people’s tastes and decorating styles so you can choose gifts they will appreciate.

Kids love the dollar store. I know, I know — everything’s made in foreign countries by underpaid workers. But seriously, if you are spending more than $3 for a kid’s birthday party gift, you need to visit a dollar store. The kids I know are fascinated by dollar store stuff until age 6 or 7. The parents may turn up their noses, but what kid wouldn’t love growing giant lizards or sharks (600% growth — just soak ’em in water!), red-white-and-blue glow necklaces, or a hundred fuzzy animal stickers?

Agree that gifts are only for the kids. Not having kids myself, I wouldn’t vote for this option, but I know many families like it. I think a better choice if you’re going to do this is to have adults buy small gifts for the kids ($5-10), and let kids make homemade gifts for the adults. I think this gets kids to think about giving as well as receiving.

Use homemade gifts. I’m a big fan for using the homemade gift for most every occasion. Special birthdays get a bouquet of garden flowers in a mason jar. Or, I take the time to write a sincere note in a beautiful card. If someone’s a fan of sweets, I’ll whip up a batch of cookies. If the season’s right, I might present them with fresh berries or a holly and cedar swag. The cost for all these gifts is minimal, but the gesture is still meaningful.

Mass produce. Last year, English Major offered a great tip about gift-giving ideas. You can save lots of dough by the assembly line approach. Pick a gift that will be appropriate for your list of recipients and buy craft items, ingredients, or components in bulk. Before you start, figure out how many gifts you’ll need and the cost per assembled gift. Check the figures against your budget. To maximize this idea, choose an idea that still allows for some personalization, say in the color or style of gift.

Just speak up. At my workplace, the envelope is constantly being passed for one event or another. The loss of a parent, a new baby, a retirement, etc. The flowers or gifts purchased with the collected cash may very well be much appreciated. But if your budget prevents you from chipping in, instead write a heartfelt note or tell the person face-to-face. A verbal expression of sympathy or support may be just what they need.

Shrug it off. Unfortunately, some people are all about the goods. If the people in your life aren’t going to appreciate or adjust to your frugal mindset, you have a choice to make. Keep spending to keep up with the Joneses, or go your own way and hold your head high. Find ways to show you care that don’t just involve handing over your debit card. Give when you can; give what you want to.

The side benefit of implementing any of these ideas is that it moves the whole concept of giving gifts back to thoughtfulness, effort, and individual creativity, rather than the focus on prices and packaging. Think of it as one small chink in the great wall of marketing and consumerism!

These are just some thoughts on the topic to get the discussion rolling. I’m sure there are scores of creative solutions out there.

Source: getrichslowly.org

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Rent your home. Own your future.

Essentially, rent-to-own homes offer an alternative pathway to homeownership for individuals who might not otherwise be in a position to buy a house outright. It’s a strategy that represents the quintessential entrepreneurial mindset — seeing opportunities where others see only obstacles.

What is a rent-to-own home?

A rent-to-own property arrangement, sometimes also called a lease option or a lease-to-own agreement, is a deal in which a person rents a home for a specific period of time, typically between one to three years, with the option to purchase the home at the end of that period.

It’s a plan designed to facilitate homeownership for people who need time to save for a down payment, improve their credit or get their financial house in order. A portion of the monthly rent payment is typically set aside and used as a contribution toward the future purchase of the house.

Why are rent-to-own homes popular? What are some pros of this setup?

Rent-to-own homes continue to gain popularity, and there are a few compelling reasons why. At their core, these arrangements offer a unique blend of flexibility and opportunity that resonates with many potential homeowners.

Flexibility

One key reason is the financial flexibility rent-to-own homes offer. Not everyone has the resources to dive straight into homeownership, and traditional mortgage arrangements might be out of reach. Rent-to-own homes present a viable solution, allowing individuals to move into their dream home right away, while also providing a structured plan to eventually buy that home. It’s about breaking down a seemingly insurmountable financial leap into manageable steps.

Home prices

Another driving factor is the prospect of locked-in purchase prices. Given the volatility of real estate markets, the ability to set a future purchase price at the start of the lease agreement can be an enticing prospect. It offers a form of financial predictability, a rare commodity in an ever-fluctuating housing market.

Furthermore, rent-to-own homes also serve as a testing ground. They’re an option that allows potential homeowners to experience living in the home and neighborhood before making a long-term commitment. This ‘try before you buy’ aspect is a significant draw, reducing the risks of buyer’s remorse.

Building equity

Lastly, the concept of building equity from day one is attractive. Instead of paying rent with no long-term benefits, individuals in a rent-to-own agreement have the satisfaction of knowing that part of their monthly payment is going toward their future home ownership. This empowers people to invest in their future, even if they aren’t quite ready to fully commit to a mortgage.

However, it’s essential to understand that, while rent-to-own homes offer certain advantages, they aren’t a magic bullet solution. Like any financial arrangement, they come with their own risks and potential pitfalls. But for those who are clear about their financial capabilities and long-term plans, rent-to-own homes can be a strategic stepping stone on the path to homeownership.

Potential drawbacks of rent-to-own properties

However, renting to own is not for everyone. Here are some cons to consider when looking at this rent arrangement that might be non-starters for you.

Non-refundable payments

If the renter decides not to purchase the house at the end of the lease, they forfeit the extra money they have been paying towards the purchase. This can be a considerable loss, as these payments are typically non-refundable.

Maintenance responsibility

In many rent-to-own agreements, the renter is responsible for maintenance and repairs. This can be costly and differs from most traditional rental agreements where the landlord is typically responsible for these costs.

Risk of forfeiture

If the renter fails to abide by the terms of the agreement, they may lose their right to purchase the property and forfeit all payments made towards the purchase price.

The history of the rent-to-own contract

Rent-to-own homes, as a concept, trace back to the 1950s and 1960s, a period of significant changes in the housing market. During this time, returning World War II veterans and the resulting baby boom led to an increased demand for housing. However, many individuals found themselves unable to secure a mortgage due to strict lending standards. Rent-to-own homes emerged as a viable rental agreement solution to bridge this gap, allowing regular people to gradually work towards homeownership.

The approach gained even more traction during the late 1970s and early 1980s when the United States experienced a surge in interest rates, which made traditional mortgages less affordable for many prospective homeowners. The rent-to-own model gave people the chance to lock in a future purchase price and bypass the high-interest rates of their time.

The 2008 financial crisis and the ensuing tightening of mortgage lending standards again brought the rent-to-own option into the limelight. With many people’s credit scores damaged and banks more cautious about lending, rent-to-own homes became an alternative path to homeownership for those who might otherwise be left out in the cold.

The future of the rent-to-own housing market

As we look towards the future of the rent-to-own housing market, there are several factors at play. The aftermath of the COVID-19 pandemic and the subsequent economic volatility has left many people in challenging financial situations, possibly making the rent-to-own model more attractive to a larger audience.

Additionally, technology is playing a more significant role in the real estate market. Online platforms can connect renters and property owners, making the process of finding, inspecting and signing rent-to-own agreements more accessible and transparent than ever before. This technological shift could democratize the rent-to-own process, making it a more prevalent choice in the housing market.

It’s also important to keep in mind that the rent-to-own market’s growth will also depend on various factors like changes in real estate laws, fluctuations in the economy and shifts in societal attitudes toward homeownership.

Lastly, there’s an increased call for consumer protection in the rent-to-own sector. As the market grows, so too does the need for regulations to protect consumers from unscrupulous practices. The future might see more standardized contracts, more transparent disclosures and enhanced protections for those who choose this route to homeownership.

Is this rental agreement right for you?

Rent-to-own homes offer a unique blend of renting and buying, giving people a fresh shot at the dream of homeownership. As with any financial strategy, it’s critical to fully understand the implications and potential risks, making the most out of this innovative approach to securing a home.

It’s a market that has evolved throughout history, adapted to the changing times, and is likely to continue evolving in the future. There’s no better place to start your search for that perfect rent-to-own home than right here, right now.

Source: rent.com

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Secretary of the U.S. Department of Housing and Urban Development (HUD) Marcia Fudge “fired up” the crowd during her keynote speech at the 2023 National Association of Real Estate Brokers (NAREB) Annual Conference when she spoke about the recently-announced HUD-NAREB partnership designed to tackle appraisal bias.

“HUD and NAREB will work together to fight appraisal bias in the Black community,” Fudge said. “I live in a Black neighborhood by choice; my home is bigger, my lot is bigger, yet my home is valued less than the white neighborhood down the block; this must change.”

In an announcement, NAREB described Fudge’s speech as a “dynamic and inspirational address that ignited passion and commitment among attendees at NAREB’s annual convention.”

Fudge and NAREB President Lydia Pope both hail from the Cleveland, Ohio area. Fudge praised Pope’s work as the association’s leader during her speech. Fudge also addressed her commitment as HUD Secretary in addressing disparities for marginalized communities.

Fudge also addressed the access to credit for borrowers of color, and discussed the work HUD and the Biden administration are doing to address the role homeownership plays in building generational wealth, a common point of discussion for HUD under her leadership thus far.

“Some Black borrowers lack credit, but now when obtaining an FHA loan, rental history can be used as a credit history,” she said, touching on recent policy changes at HUD and the Federal Housing Finance Agency (FHFA) that considers on-time rent payments as a part of a potential borrower’s credit history.

In terms of the role homeownership takes in building wealth for families, Fudge reiterated her belief in forging a more direct path to homeownership. “We cannot deal with inflation until we deal with the housing crisis,” she said. “Most of us build wealth through homeownership.”

Fudge also admonished certain policymakers for telling younger people that they don’t need to own a home.

“Who told them that foolishness?,” she reportedly asked rhetorically. “We need to help get them in homes, so we need your advocacy. […] Stay encouraged, stay vigilant, We need you. Thank you,” she concluded.

Source: housingwire.com