By all accounts, the pandemic is far from over, and if you are lucky enough to be employed right now, you probably shouldn’t be too financially complacent. Last quarter, U.S. GDP, dropped 32%, the biggest quarterly decline in American history. While some people think the economy will miraculously bounce back when we have a vaccine and the pandemic is over, I’m not so sure. There are millions of businesses that will close for good in the coming months and there will be a lot of people unemployed. I think the worst of our recession may still be in front of us. I’m not trying to spread doom and gloom, but trying to encourage caution. I would advise everyone to reduce their long-term financial obligations and remain as liquid as possible. Real estate is almost always a good investment, but it is not the most liquid, so make sure if you invest in real estate, you have plenty of liquid assets that you can tap into if you need them. Small landlords are getting hurt right now because a lot of people are not paying rent. Cash is king, so it doesn’t hurt to keep some money in cash, and if you invest in a business, invest in something with a relatively low-cost structure, especially if you are closer to retirement than you are to getting started. Low cost, high-margin businesses are always the best for smaller entrepreneurs – especially in times like now. Stay liquid, my friends…
The large majority of undocumented immigrants are decent, hard-working people desperate for a better life in America. However, there are also some bad apples, violent criminals that not only terrorize our communities but also damage the image of Latinos in America. Trump promised to prioritize criminals in his deportation plans. In the first few weeks in office, the data shows that...
When the government tries to tackle a specific issue with a policy, it often causes new variations of the problem to emerge in different areas. In other words, "any action has an equal and opposite reaction." When taxes and regulations are reduced, as is expected in 2025, two things tend to happen: those at the bottom economically have it tougher because there are fewer safety nets and protections. Those at the top make a killing.
Realtors help families navigate the largest and most intimidating financial transaction of their lifetime. They serve as guides, counselors, cheerleaders, and protectors. Many of them remain friends of their clients for life. America is at its best when its citizens are stakeholders.