Real estate ramifications re: Cuomo and California, tax hikes may be coming for the higher brackets, new way to invest city by city, profiting from the backyard pool.
From Coast to Coast: Cuomo and California
What Cuomo's Resignation Means for New York Real Estate
Our Barbara Zito points out that the soon-to-be-former governor was known to be both an ally and an enemy of the real estate industry, depending on his agenda.
The Millionacres takeaway: There seems to be so much room for improvement that there's reason to be bullish for that reason alone in our nation's biggest real estate market (New York City), one stakeholder says of this latest drama -- caused to himself by yet another powerful man who should have known better.
Lovely Weather Defined California. What Happens When It's Gone?
Hollywood and the nation's largest producer of, well, produce and so much more: What happens if the Golden State goes up in smoke? This New York Times piece gets existential about it.
The Millionacres takeaway: For real estate investors, especially those making long-term commitments, the worsening drought and parade of cataclysmic wildfires provides some serious food for thought about a state that on its own is one of the world's larger economies.
Also in Today's News
Higher Taxes for the Rich Edge Closer as Democrats Pass $3.5 Trillion Budget Outline
The details are scant so far, but CNBC reports tax experts say it's likely the richest Americans will face higher taxes on their ordinary income, capital gains from investments, and appreciated assets bequeathed to heirs, according to tax experts.
The Millionacres takeaway: The measure passed early today accompanies the infrastructure bill now headed for the House. At the same time, a lot can and will happen before the deals are done.
Also Today on Millionacres
Investing Platform Republic Launches New Way to Invest in Individual Cities
Crowdfunding investment platform Republic is partnering with real estate platform Nada to open the door of some of America's top cities to the average person through Cityfunds. Like an exchange-traded fund (ETF), Cityfunds will make it possible for anyone living anywhere to invest in a single city's real estate market.
The Millionacres takeaway: Each Cityfund will invest in single-family rentals and fractional investments in owner-occupied homes, using the homeowners' equity. Sounds fascinating! Our Matthew DiLallo says it's a closer look for those seeking a unique opportunity to invest directly in some of the country's hottest real estate markets.
From Money Pit to Profit Center: How to Capitalize on Your Cement Pond
One effect of the coronavirus pandemic has been the shutdown of public facilities like beaches and pools. While much has reopened this summer, that could change with the spread of the delta variant, and an opportunity highlighted by these shutdowns remains: renting out your own pool by the day or the hour.
The Millionacres takeaway: While letting strangers use your private swimming pool might take some getting used to, there's certainly money to be made there. Done right, it can be quite profitable, and the risks can be mitigated through insurance and watchfulness.