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[ad_1] The Antelope Valley in northern L.A. county It’s such a great time to build a home that companies are building in oil fields. Nary an eyelash was batted last month when two of the housing market’s biggest homebuilders – Pennsylvania-based Toll Brothers and Florida-headquartered Lennar –acquired 173 acres of land in Montebello, California from Sentinel Peak Resources, a company that owns oil development land up and down the Golden State. In a project the companies have dubbed “Metro Heights,” 1,200 homes are planned in Montebello Hills, which is 10 miles east of downtown Los Angeles and has pumped out oil since 1917. A new twist on an old, controversial project, the land is already permitted, and the companies are shopping for homebuyers. Metro Heights website allows, “There will be some active oil wells outside the residential area.” But it assures, “No homes will be built on abandoned oil wells.” Metro Heights is part of a U.S. home building market that is “utterly bizarre,” said Tim Costello, CEO of Bdx Inc., a listing website for new homes. “I can’t ever remember a housing market that is remotely like this,” Costello said. What “this” is are factors that, on their own, are extraordinary. Record-high demand partly fueled by historically low interest rates on mortgages. Low supply and public officials acknowledging the supply crunch. A shortage in materials that makes lumber prices a surprise national obsession. White collar workers on year two of telecommuting and looking for space. The moment means homebuilders move in several directions at once and can seem like they are throwing paint at a non-wooden wall. But make no mistake – if you’re an established homebuilder, this is a roaring time. “Simply put,” said Douglas Yearly, CEO of Toll Brothers on an earnings call earlier this year. “This is our time.” This content is exclusively for HW+ members. Start an HW+ Membership now for less than $1 a day. Your HW+ Membership includes: Unlimited access to HW+ articles and analysis Exclusive access to the HW+ Slack community and virtual events HousingWire Magazine delivered to your home or office Become a member today Already a member? log in The post The wild housing market’s big winner? Homebuilders appeared first on HousingWire. [ad_2] Source link

[ad_1] The post Bill Ackman’s SPAC Tanks on Proposed Deal With Universal Music Group appeared first on Millennial Money. Following a Wall Street Journal report yesterday, Pershing Square Tontine Holdings (NYSE: PSTH) confirmed that it is indeed in talks to acquire a piece of Universal Music Group (UMG).  The special purpose acquisition company (SPAC) is looking to buy a 10% stake in UMG for $4 billion, valuing the largest record label in the world at $40 billion, and distribute those shares to its shareholders. UMG represents many of the biggest artists in the world, including Taylor Swift, Alicia Keys, Elton John, and Pearl Jam, among many others. Investors appear to be disappointed, sending Pershing Square Tontine shares down by 11% as of 12:30 p.m. EDT on Friday. This isn’t your typical SPAC merger The transaction is as unique as it is complex. Unlike most SPAC transactions in which the SPAC merges with a target company, Pershing Square Tontine is not really combining with UMG.  The SPAC sponsor (Pershing Square Capital Management) is creating a new Pershing Square SPARC Holdings. Once the deal is completed, current Pershing Square Tontine shareholders will own three different securities: A pro-rata share of UMG valued at approximately $14.75. A pro-rata share of Pershing Square Tontine valued at $5.25 per share in cash. A transferable right to buy a share of SPARC that’s good for five years, known as a SPAR. While most SPACs go public with a net asset value (NAV) of $10 per share, Pershing Square Tontine was unique in that it went public with a $20 NAV last summer, raising roughly $4 billion and making it one of the largest SPACs on the market. Since the proposed deal is not a merger, that means Pershing Square Tontine warrants will not become exercisable, as is usually the case with a merger. Instead, the SPAC will allow warrant holders to exchange their warrants for more Pershing Square Tontine shares through an exchange offer. Warrants are derivatives that allow investors to buy the underlying stock at a strike price and are included for free with SPAC units as a sweetener for institutional investors. There is also no PIPE (private investment in public equity) component of the deal. Rather, Pershing Square Capital Management has inked various forward purchase agreements with various affiliates to bring an additional $1.6 billion to the table. After using its $4 billion in trust in conjunction with the additional capital and paying transaction fees, the SPAC expects to have roughly $1.5 billion in cash remaining. Rewarding early SPAC investors The SPAR that the SPAC shareholders will receive represents the right to buy shares of the SPARC for $20 per share, which can only be exercised once the SPARC identifies a target company to merge with. The SPARC will not raise money through a traditional offering, but will instead receive cash from the exercise of SPARs. Assuming that all SPAR investors choose to exercise that right, the SPARC will have between $6.6 billion and $10.6 billion that it can use to fund another merger deal. The convoluted terms reflect Bill Ackman’s commitment to reward early Pershing Square Tontine investors. The famed activist value investor previously said on social media that he would find a way to allow those investors to buy into Ackman’s next SPAC. The SPARC isn’t quite a SPAC, but will function in a similar fashion. Pick Like A Pro The next blockbuster IPO? 2021 could be one of the biggest years for IPOs in stock market history. Yet, with just a small fraction of IPOs historically driving nearly all the profits, who will you trust to uncover the most innovative and high-upside IPOs in the coming months? There’s a company that “called” these businesses long before they hit it big. They first recommended Netflix in 2004 at $1.85 per share, Amazon in 2002 at $15.31 per share, and Apple back in the iPod Shuffle era at $4.97 per share. Take a look where they are now. That company: The Motley Fool. For people ready to make investing part of their strategy for financial freedom, take a look at The Motley Fool’s flagship investing service, Stock Advisor. They just announced their top 10 “best buys now” across the entire stock market. Whether you’re starting with $100, $500, or more, you should check out the full details. Click here to learn more The post Bill Ackman’s SPAC Tanks on Proposed Deal With Universal Music Group appeared first on Millennial Money. [ad_2] Source link

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[ad_1] “Fashion industry still identifies a looming gap when it comes to meeting the social and environmental targets,” said the Managing Director, Aero Club (The Maker of Woodland & Woods) [ad_2] Source link

[ad_1] Let’s be honest – affording a home isn’t always easy. In this market where homes are selling like hot potatoes, it might seem like everyone can afford to buy a house, but that’s not true. It takes time, money, energy, planning, money and more money to become a first-time homebuyer. Even with today’s low interest rates, affording a home can be a challenge. And it doesn’t help that we’re living in a seller’s market where prices keep going up. So, what are you supposed to do? Give up the American dream of having a three-bedroom house with a white picket fence? Absolutely not.  While affording to buy a house it’s tough, it’s not impossible. Here’s a step-by-step guide to help you land the keys to your first home: More for Real Estate Enthusiasts Why does credit matter so much in the home-buying process? Here’s the scoop Buying a home? Boost your FICO score first A homebuyer’s guide to a competitive housing market How much house can you afford to buy? Step 1: Know Your Credit Score What’s your credit score? If it’s been a while since you last checked, you should take a look at your credit report. Your score will determine your financing options for buying a house. For instance, whether or not you get approved for a mortgage is based on your credit score.  According to Equifax, a good credit score is between 739 to 670. A decent credit score is between 669 and 580. A bad credit score is anything under 579. If you have poor credit, it’s less likely a lender will approve you for a loan. And if they do, it’ll most likely come with a high interest rate.  The good news is, you can raise your credit score by paying down debt and making your payments on time. It’s also a good idea to work with a financial advisor to help improve your score.  Step 2: Look At Different Loan Options While being a first-time homebuyer can be scary, it has its perks. First-time homebuyers have mortgage options available that don’t require a high down payment. For example, if you have a minimum score of 580, you could be approved to put down as little as 3.5% with an FHA loan. There are many programs available to homebuyers, so make sure you’re doing your research to find the best option for you. Step 3: Figure Out What You Can Afford  To determine what kind of house you can afford, you need to analyze your debt-to-income ratio (DTI). Your DTI shows how much money you put towards debt each month, and it’s relatively simple to calculate.  First, figure out our total monthly debts. How much money do you put towards student loans, credit card bills, personal loans, etc. each month? Once you have that number, divide it by your gross household income – that’ll give you your DTI. With that percentage, you can see just how much wiggle room you have in a month for a mortgage payment (and all the other payments that go into owning a house) DTI is something lenders also look at when approving you for a loan. The lower your DTI, the better your chance of getting approved. Step 4: Save Money (And Then Keep Saving) One of the most important, yet difficult, parts for first-time homebuyers is saving enough money. Regardless of the type of home, or loan, you’ll have to pay a myriad of expenses to get the keys to your dream house. From the down payment to closing fees, it’s important you have a good chunk of change set aside so you can afford these costs.  The truth is, saving money takes time. But once you know how much house you can afford, and the type of loan you can get approved for, you can create a goal. And then, a budget to help you achieve that goal.  The post Attention all first-time homebuyers: Here are some steps to affording a home appeared first on HousingWire. [ad_2] Source link

[ad_1] Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors. Canadians are not ready to return to the office It may be no surprise that Canadian employees aren’t eager to get back to their offices—at least not in a full time capacity.  This recent poll suggests only 20% of Canadians are missing their business attire, commutes, expensive takeout coffees and packed lunches. From that CTV News post: “A recent poll by Leger and the Association for Canadian Studies has found that 82% of Canadian respondents who have worked from home during the pandemic have found the experience to be very or somewhat positive, while just 20 per cent want to return to the office every day. “Only 17% described working from home as somewhat or very negative.” And, as has been suspected for many months, we might be looking towards hybrid workplaces in the future.  “Almost 60% of those surveyed said they would prefer to return to the office part-time or occasionally, while 19% said they never want to go back. “The top three reasons for preferring to continue to work from home were convenience, saving money and increased productivity.” Employers might have to give into these employee “demands” because…  “Some 35% of those surveyed in Canada agreed with the statement ‘If my superiors ordered me to go back to the office, I would start to look for another job where I can work from home’.” Canadians are looking for flexibility. We might very well work from home one day, and then work from our offices the next.  What does that mean for investors? Many REITs are concentrated on office space. And a hybrid-work future means we won’t be seeing the death of the office. However, office REITs might have to update their resume and approach. And they will face competition.  With white-collar workers heading up those tower elevators for important meetings, perhaps many companies will no longer need the conventional desk-per-headcount setup. Could that mean the offices of the future will consist only of meeting rooms? WeWork, the company that offers flexible and satellite office space, has struggled during the pandemic, as their offering is not exactly work-from-home friendly. But they believe a hybrid work space is the future—where “employees have the ability to work in different spaces, including corporate offices, coworking spaces (such as WeWork), public spaces and from home.”   What about picking up that coffee and other retail?  In a hybrid future, those lineups at Tim Hortons and Starbucks could continue to be on the short side. The continued loss of food-court traffic and other local businesses (including restaurants) might be an ongoing theme. And that loss of business might have more of an effect on employment recovery prospects. In the early days of pandemic, we reported in this space on how retail workers faced the full (and perhaps unfair) brunt of economic hardship. That theme continued throughout the pandemic. They did not, and do not, have the luxury of working from home.  As a freelance writer and blogger, I’m more than happy to be staying home, with homemade coffee, while dressed in shorts or sweatpants.  Maybe Walmart will be a main benefactor of the hybrid workplace? I just love that stock. I’m guessing that it is also ready for the hybrid workforce.  We’ll keep an eye on this very interesting recovery story.  The TSX tops 20,000 for the first time The Canadian stock market as measured by the TSX Composite hit a major milestone this week: On Wednesday, June 2, it broke 20,000 for the first time ever.  To appreciate what a big deal this is, here’s a quick history lesson. The index broke 5,000 in the Spring of 1996. It quickly doubled to reach 10,000 in mid-2000, according to Trading Economics, but the dot-com crash that took down stock markets around the world, including in Canada. The Canadian market fell below 10,000 in that crash. The TSX then broke through 10,000 again five years later in 2005. The financial crisis of 2008-2009 took down the markets again, sending the TSX composite below 10,000 once again. It was not until the late Spring of 2009 when the market enjoyed a sustained rally above that 10,000 level.  Then it took another 12 years for the TSX composite index to double from that 10,000 level in 2009 to 20,000 this month.  Here’s the double double scorecard:  TSX Composite 5,000 to 10,000 – 13 years 10,000 to 20,000 – 12 years  Keep in mind that TSX Composite benchmark returns are not total returns, and do not include the reinvestment of any dividends. The index is price-only.  Courtesy of friends at Stocktrades.ca, here’s a chart that reflects the (massive) difference between price-only indices, and indices that include the reinvestment of all dividends. The total returns for iShares Capped Composite Index ETF (XIC) is also thrown into the mix along with the underlying S&P TSX capped composite price-only index.  Source: Stocktrades.ca Also, we do not know if this is a sustainable breach of the 20,000 mark. In fact, the index did not hold that level on Wednesday. On Thursday, the market closed at 19,941. And by Friday it was flirting once again with the territory above 20,000 points. In the 14 months since the depths of the COVID market crash, the Canadian benchmark has risen by about 78%. This is one of the strongest bull runs ever.  The recent rally and new milestone are courtesy of the rise in inflation-friendly sectors, such as financials, energy and industrials.  And, as has been mentioned many times in this space, the Canadian market rally owes a good deal of credit to Shopify, a stock that has quadrupled in price from the pandemic bottom.  Purpose Investments rocks the retirement world On Tuesday, June 1, Purpose Investments introduced what may turn out to be a game-changer for Canadian retirees and for Canadian investors. The Longevity Pension Fund is designed to pay out at a rate of

[ad_1] — Survey Junkie lets users rack up digital points each time they take a survey, which are redeemable for PayPal cash or gift cards. — It’s free to sign up, and the opinions you offer during surveys can actually help shape products and services of the future. — You may only make $0.50 to $3 for each survey you take, but you can earn consistent income by completing every survey you qualify for. LEARNMORE If you’re looking for an easy way to earn some side income in your spare time, Survey Junkie is worth a close look. This website connects you with surveys you can take online and from the comfort of your own home.  Although you won’t earn a ton of money for each survey you take (usually $0.50 to $3), you can easily build up a stash of points if you participate regularly and complete every survey you’re eligible for. Keep reading to learn more about Survey Junkie, its pros and cons, and how to sign up and get started. About the Company Survey Junkie is an online platform that pays users for taking digital surveys.  Reward points earned with Survey Junkie can be redeemed for gift cards for popular brands or transfers to your PayPal account. You can take Survey Junkie surveys on your computer or your favorite mobile device at any time of the day or night. Signing up with Survey Junkie is 100% free. Survey Junkie: How It Works Survey Junkie is an online platform that connects users with an array of surveys from popular brands and service providers. Signing up and getting started with Survey Junkie is absolutely free. Online Surveys If you have some free time to spare and you want to earn some easy money, taking online surveys could be ideal. There is a low barrier to entry to get started, and almost everyone is eligible for some surveys based on the information they include in their profile. Pay is fairly low at approximately $0.50 to $3 for each survey completed, yet many questionnaires take 20 minutes or less, and they’re rarely difficult or stressful. Also, be aware that some surveys pay more in “points” than others. Most surveys that are currently available are worth between 80 and 150 points, and each point is worth one cent each. To sign up with Survey Junkie, all you have to do is hit “Join Now” on the website homepage. From there, you can begin your application via a Google or Facebook account, and by offering additional information like your zip code, your date of birth, and your gender. Once you create an account, you’ll begin filling out your profile by answering questions about yourself.  As you start the process, plan to answer questions about your: Living situation Income  Shopping habits Pets Level of education Once you create a profile, you can maximize the rewards you earn by downloading the Pulse app. This browser extension lets you earn more points for each survey you take, and you can also get access to exclusive rewards by sharing your browsing activity. You’ll also be eligible for more surveys in general if you have this browser extension on your computer. Note that you can only redeem rewards earned with Survey Junkie once you have accrued at least $5 in your account. Although you can cash in your points for PayPal cash, you can also choose to redeem gift cards from top brands like Amazon and Target. Unique Features Products and services offered by Survey Junkie are not complicated at all. Creating an account is free, and you’re rewarded with points for taking surveys you’re eligible for. Once you have at least $5 in rewards built up, you can redeem them for PayPal cash or gift cards. Interesting features you should know about before you sign up include: More points via Survey Junkie Pulse app: Downloading the app or adding the browser extension to your device helps you earn more rewards points. It also increases the number of surveys you’re eligible for. Use your influence: While you’ll get paid for answering basic questions, the information you provide Survey Junkie is actually used to influence brands you love. This platform does reimburse you for your time, but you also get to help shape the products and services of the future. Who Survey Junkie is Best For Getting paid to answer questions may sound too good to be true, yet Survey Junkie is as legitimate as they come. In fact, the company boasts mostly excellent reviews across almost 25,000 user experiences on Trustpilot. Still, it’s important to remember you won’t get rich taking surveys on Survey Junkie. This option is best for:  Busy people who want to earn gift cards or PayPal cash in their spare time Anyone who has several hours to kill a few times per week, such as during their child’s sports practices or piano lessons Parents who are building up rewards they can use for Christmas gifts or birthday presents People who want to do something mindless while they watch television or relax Quite a few of their surveys pay as little as $0.50, and you may only be eligible for $10 or less in surveys in any given week. When you’re taking surveys on the lower end of the payscale, you might only be making $1 to $4 an hour, which isn’t much at all. Survey Junkie is more of a “side hustle” and less of a part-time job. Since you may not be eligible for every survey, it’s also a poor choice for people who need reliable side income. Survey Junkie vs. Other Survey Sites You’re probably aware that several companies do exactly what Survey Junkie does. However, not all survey sites work the same, so make sure to check out a few other platforms if you only plan to use one: Survey Junkie Inbox Dollars Swagbucks Cost  Free Free Free Tasks Required Surveys SurveysWatching videosShoppingPlaying games SurveysWatching videosShoppingBrowsing the Web Redemption options

[ad_1] The post DocuSign Stock Skyrockets After Trouncing Earnings Expectations appeared first on Millennial Money. Digital documentation and electronic signature specialist DocuSign (NASDAQ: DOCU) reported fiscal first quarter earnings on Thursday evening, and the results easily trounced Wall Street’s expectations. Billings growth was strong and the company also offered an optimistic forecast. As of 12 p.m. EDT Friday, the stock was up by 15%. A blowout quarter Total revenue in the fiscal first quarter increased 58% to $469.1 million, of which $451.9 million was subscription revenue. The consensus estimate had called for sales of just $437.7 million. DocuSign said that billings jumped 54% to $527.4 million. That all resulted in adjusted earnings per share of $0.44, crushing the $0.28 per share in adjusted profits for which analysts were modeling. DocuSign generated $123 million in free cash flow during the quarter and ended the period with $875.8 million in cash on its balance sheet. The company now has 988,000 total customers, including 136,000 enterprise and commercial customers. The number of customers that represent over $300,000 in annual contract value (ACV) now stands at 673. DocuSign continues to expand its relationships, reporting a net dollar retention rate of 125%. That metric measures spending from existing customers. International growth was also impressive, with international revenue surging by 84%. Sales from abroad hit a new milestone, topping $100 million in revenue in the fiscal first quarter, CEO Dan Springer noted on the conference call with analysts. That geographic segment now accounts for 21% of total revenue. On the product front, DocuSign introduced DocuSign Notary, a remote notarization service, during the quarter. It’s still early for that offering, but Springer said that the initial reception has been encouraging, particularly for large financial institutions that use their own first-party notaries. DocuSign is currently focusing on first-party notaries but plans to address third-party notaries (where a transaction must be notarized but neither party has their own) later. What comes next In terms of guidance, DocuSign is forecasting total revenue of $479 million to $485 million in the fiscal second quarter, comfortably ahead of the consensus estimate of $474.7 million in sales. Subscription revenue is expected to be $459 million to $465 million of total sales, and billings should be in the range of $549 million to $561 million. The company expects to report an adjusted operating margin of 16% to 18%. Looking further out, DocuSign’s outlook for the full fiscal year 2022 calls for revenue in the range of $2.03 billion to $2.04 billion, while Wall Street is only looking for $1.99 billion.  Some investors have worried that DocuSign’s growth will decelerate once the COVID-19 pandemic is over, as the company benefited from companies adapting to the crisis while trying to maintain productivity. Springer suggested that these fears are overblown, as DocuSign’s prospects remain strong since the company utilizes a capacity-based model and customers aren’t going back to paper-based processes once they appreciate the benefits of digital transformations. Pick Like A Pro Where to invest $500 right now Before you buy Amazon, or Netflix, or Apple, consider this… The team at Motley Fool first recommended each of those stocks more than a dozen years ago! They discovered Netflix for $1.85 per share, back in the days of DVDs by mail. And recommended Amazon at $15.31 in 2002, before most people were comfortable using credit cards online. And even hit Apple at $4.97 per share, about a month before the release of the very first iPhone. Check out where those stocks are today. The bottom line: a $500 investment in all three of these stocks would be worth more than $200,000 today! And here’s why that’s important: The Motley Fool’s flagship investing service Stock Advisor just announced their top 10 “best buys now” across the entire stock market. Whether you’re starting with $100, $500, or more, you’ll want to get the full details! Click here to learn more The post DocuSign Stock Skyrockets After Trouncing Earnings Expectations appeared first on Millennial Money. [ad_2] Source link