When this is all over, I think I will purchase a second home. Although I have considered it, I’ve never pulled the trigger on a second home mostly because I enjoy hotels and resorts. In years past, Kathy and I have considered buying a second home in New York, Hawaii or even Las Vegas, which are our favorite cities to visit. In New York, I love the Langham Hotel. It’s walking distance to most of my favorite spots and they have a great restaurant on the second floor. In Hawaii, we usually stay at the Andaz in Maui. It’s pretty new and they have several great restaurants including a great Morimoto sushi spot on the beach. In Las Vegas, we still love the Bellagio, but sometimes stay at the Waldorf Astoria if we prefer quiet. I always thought I’d miss the energy and amenities of these places if I purchased something. Kathy and I also worried that we would feel forced to visit more often to justify the expense and maintenance. But COVID-19 changes things a bit.
I don’t think I will ever be the type of person who avoids hotels, but having a second home would be a nice thing to have right now. I don’t think I am alone. It really makes me think that people are going to value their homes even more coming out of the quarantine. Those who have the means could start looking for larger homes; others may be thinking about investing in some home improvement work and still others might be thinking about a second home, like me. I’m confident residential real estate valuation, especially in the most desirable cities, will see another spike in the coming years.
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.
In less than four years, DEI went from being a widely accepted bipartisan solution for America’s precarious wealth and income gaps to the root cause of every failure known to man.