Love is lovelier the second time around, according to the 1960 Frank Sinatra song. But what about money and second marriages? That’s a more complicated story, especially for couples with adult children. After all, most people who are 52 or 62 have more money when they marry than those who tie the knot when they…
Read More “Getting married after 50? Read this before merging money with your mate.” »
Pity those first-time house buyers. On Wednesday, the US Federal Reserve raised the benchmark interest rate by 75 basis points to a 1.5% to 1.75% range, the biggest increase since 1994 as it tries to tame rising inflation, which has reached a 40-year high. Eric Finnigan, a director at John Burns Real Estate Consulting, wrote…
Angelenos, congratulations – you officially live in one of the worst metro areas for first-time home buyers, according to a new study by Bankrate.com. Out of the 50 largest metro areas studied, Los Angeles ranked 49th in affordability, 48th in employment factors, 30th in safety, and 39th in housing-market tightness, as the supply of homes…
Read More “The ‘best’ and ‘worst’ places in America for first-time home buyers” »
Say you own a highly-appreciated vacation home that you’re ready to unload for whatever reason. If you simply sell it, you could face a whopping big income tax bill. See my earlier column on that unfortunate outcome. Ugh. But if you’re still bullish on real estate and not a fan of paying taxes unnecessarily, you…
