Success story: I have known Claire for 20 years
She is a single woman, never married, and no kids. When I did her first home loan, she had a hard time finding anything she could afford on a librarian’s salary. It was 1995, and she knew she had to buy before prices were completely out of her range. However, the...
Success Story: How a 1031 Exchange Gave this Client HUGE Tax Savings.
I received a call last month from a client who wanted to sell her current rental property, but did not want to purchase another rental property. So naturally the conversation turned to the tax savings of doing a 1031 exchange. Here are the numbers: The house she...
Economic News This Week: It was a slow economic news week
On Monday the government revised their Q1 Productivity number to unchanged, from down 0.6%, and revised the labor costs down to 2.5% from 3.0%. As labor costs go up, we will either see inflation pressure (the price we pay on goods will go up) or a slow-down in...
Economic News of the Week: On Tuesday, the April personal income was up 0.4%, and spending was also up 0.4%.
This was in line with expectations, so it did not move the markets. The May nonfarm payroll numbers were up 138,000, not very good. But the unemployment rate dropped to 4.3%. Wait. How is that possible? Well, some people give up, so they are no long counted. If you...