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[ad_1] Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.  The rich get richer as rates go lower  We know that lower rates set by central banks help to stimulate economic growth by providing cheap money. On the flipside, banks also have the option to raise rates and quell too much economic euphoria that might also create undesirable inflation.  The COVID-19 pandemic has unfairly picked on the economically disadvantaged—and it appears that the monetary response of lower rates could further exacerbate wealth disparity.  If you want to do more of a deep dive (it’s very interesting, to say the least) into global demographic trends and interest rates and how they’ve shaped our past, and will likely shape our next few decades, check out “Inequality, Interest Rates, Aging, and the Role of Central Banks.”  From that link, Matthew C. Klein looks at the topic of savings rates of the rich and how they do not spur real economic growth, but rather drives down rates…  “The key insight is that the ultra-rich are different from you and me: they have much higher saving rates regardless of their age. No matter how expensive your tastes, there’s a limit to how much you can consume, which means any income above that threshold has to get saved. The ultra-rich therefore spend relatively small shares of their income on goods and services that directly provide jobs and incomes to others, instead accumulating stocks, bonds, art, trophy real estate, and other assets.” Lower rates (borrowing costs) and those excess funds in the hands of the more wealthy can also lead to asset bubbles—see North American real estate and perhaps stock markets as well.  On the demographic trends for the rich nations, Klein notes…  “In the 1960s, total population growth in the major global economies (the ‘high-income countries’ plus China) averaged almost 2% a year. That slowed to just 1.2% a year by the 1980s, 0.9% a year by the 1990s, 0.6% a year by the 2000s, and just 0.4% by the eve of the pandemic. The combined population of these economies is projected to shrink starting in the 2030s, eventually falling nearly 20% from the projected 2030 peak by the end of the century.” Klein offers that aging populations (demographics is destiny), continual wealth inequality and low interest rates are all part of the same phenomenon. It’s a negative feedback loop. He argues that the trends will continue without massive government policy initiatives to redistribute wealth.  Of course, free-market economists will fight him on that one, but it appears clear now that trickle-down economics is pure fantasy.  From the Klein post…  “The Great Depression didn’t really end until wartime mobilization caused a surge in incomes and production that wiped out old debts, levelled the wealth distribution, and gave people confidence in the future. The end of the war also kicked off a baby boom after a long drought of births. Not coincidentally, interest rates marched up for decades until the early 1980s.” Speaking of voters, Canada is currently in the midst of a federal election. I recently wondered if more Canadians would vote with their wallets, and whether government spending, debts and even monetary policy will be on the table. Perhaps being a champion for the working poor and middle class might mean a change of heart on that policy of perpetually low rates.  Investors with ample savings rates might take some comfort in their ability to participate in the wealth machine. You own the machines, you own the technology.  But if Klein is right, in the future you might have to do even more sharing.  Less vroom in Zoom?  We are moving toward the new normal (we hope) post-COVID. We know the pandemic has changed the way we live and work—although we don’t know how permanent some of these changes in behaviour might be.  We’ve discussed how the future of work is likely a hybrid scenario where those who are able will continue to work from home part-time, as well as return to the office part-time. While the ratio of work-to-home is yet to be determined, we’re getting a glimpse of the hybrid future by way of earnings from Zoom.  Zoom’s stock price plunged recently, as growth slowed. As you likely know, Zoom offers online meeting technology and benefitted greatly from the pandemic’s work-from-home shift. Microsoft with their Microsoft Teams virtual meeting platform also got in on the meet-from-home act in a big way. And as that CNN post notes, Zoom is getting competition from more than just Microsoft.  From that CNN post…  “Shares of Zoom (ZM) plunged more than 15% Tuesday morning and are now in the red for the year after the company reported results for its fiscal second quarter after the close on Monday. “The numbers were good. Earnings easily beat forecasts. So did revenue, as sales topped $1 billion in a quarter for the first time. What’s the problem then? Sales growth is cooling. And investors have high expectations for Zoom after the stock soared an astonishing 400% in 2020. “Zoom reported that revenue was up 54% from a year ago in the quarter. But that’s down sharply from the 355% growth in sales Zoom reported this time last year during the height of COVID-19 fears. Sales were up 191% in Zoom’s previous quarter, too.” The numbers offer that we are still in a growth phase for work-from-home, but that growth is on the decline. And at times the market does not like when the best of growth prospects are in the rearview mirror. Zoom did not get a free pass on that. The stock is down by some 23% over the last month to August 1.  As we discussed in July, peak growth may be a reality for many stocks and the U.S. stock market as a whole. All said, the broader market is getting a pass on the peak earnings growth syndrome.  On Seeking Alpha, Zoom’s chief financial officer Kelly

[ad_1] The post Should I Sell or Rent My House? | Key Considerations appeared first on Millennial Money. The decision to sell or rent your house is a tough one. On the one hand, you could sell and be done with it! On the other, recurring rental payments sure sound appealing. Keep reading to learn about the main considerations that should influence your decision. Reasons to Sell Your House Here are some scenarios where it makes sense to sell your house. You’re not attached to the property People tend to get emotionally attached to properties. If you don’t feel that attachment, it will be much easier to let go.  Here are some examples of low-attachment situations: You’ve lived there for only a few years You no longer enjoy the surrounding neighborhood You’re recently divorced You have an urge to try a different lifestyle (e.g., moving to the city, countryside, or abroad) If you have a “whatevs” attitude to your current home, now might be a good time to think about putting it on the market.  You’re short on cash  If you’re in a bind for cash and are ahead on your home investment — meaning you’ve gained some equity and profit on it — it may be a good idea to sell. By doing that, you can free up cash for your next home’s down payment and closing costs. Alternatively, you can pay down debt or save the gains you made.  The house isn’t ideal for renting Not all houses make great rental homes. Often, the home’s location makes it difficult to put on the market for rent. For example, it may be out in the middle of nowhere or in a town that people aren’t flocking to. You have substantial equity  If you own substantial equity in a home and sell it, you might have a pretty nice profit after the deal closes. On the other hand, if you have barely chipped away at your mortgage balance, you’re likely to lose money when you sell. You want to cut back on expenses Depending on where you live, homeownership can be very expensive. If you find yourself in a situation where all your extra cash goes toward paying taxes and maintenance bills, it might be time to sell. Tips for Selling Your House  Here are a few things to consider when trying to sell your home. Hire a great agent When it’s time to sell your home, your real estate agent is your best advocate. Your agent will help you decide when it’s a good time to list your property, what is a competitive price, and how to stage it. Your realtor will also connect you with trusted contractors, lawyers, and inspectors you may need to call on during the sales process.   Be realistic about the price Talk to your agent about market conditions and defer to them when negotiating. Selling can be tricky, and your home’s value fluctuates based on demand and market conditions. Your best bet is to listen to the experts instead of taking matters into your own hands. Overpricing your home or delaying a sale to time the market can be costly. Let the agent stage the house  Once you decide to move forward with your home sale, treat it like someone else’s house. The agent may want to redecorate, and you’re going to have to keep the place in pristine condition for walkthroughs. Be patient during this process, and work with the agent when staging. It could lead to a bigger profit.  Learn More: How to Sell Your Own Home: The Complete Guide Selling Pros and Cons  Pros Potential net gain No monthly upkeep  Ditch a property you don’t want  Cons Potential net loss  Selling fees  No recurring income Reasons to Rent Your House Here are some reasons why renting out your house might be favorable. The property is in a rentable location If your house is in an amazing location, you may want to consider renting it to get a strong monthly cash flow.  For example, your house may be near a ski resort or in a city where there is a steady influx of visitors who need a place to stay. If that’s the case, you can request a rent price that will cover the cost of your mortgage and then some. You can afford a second home It’s a good idea to analyze your monthly cash flow and determine whether you can afford to take on a second mortgage. If so, you may want to reconsider refinancing your current property, or using it as collateral to fund your next mortgage. This plan could work as long as your tenants’ monthly rent payments cover your mortgage payments.  You may want to move back If there’s any chance you may want to come back to your old house, consider renting first. Renting a house can provide you with the ability to come back if you choose.  You can afford the expenses  Homeowners are often surprised to learn some of the hidden costs associated with renting. To successfully rent your place, you need to be able to cover a variety of costs. Ideally, your tenants’ rent payments will cover them for you.  Here are some of the top costs to consider.   Mortgage: You’ll still have to make your monthly mortgage payment. HOA fees: Homeowners association (HOA) fees can be very high, costing hundreds of dollars or more per month. Insurance: Some people need to pay homeowners insurance in addition to private mortgage insurance (PMI) for the lender’s protection.  Vacancies: Vacancy occurs when a place goes unoccupied. It may be worth looking into unoccupied home insurance.  Property management fees: Property management companies can help you with leasing, tenant issues, and daily maintenance and repairs — for a price. Tips for Renting Your House Here a few different ways to earn money renting your house. Look into Airbnb If your house is in a prime location, you may have more flexibility putting it on a site like

[ad_1] Biden administration discussing whether it must scale back ambitious Covid-19 vaccine booster plan  CNN Covid-19 Vaccine Booster Launch Could Be Delayed  The Wall Street Journal It’s Going to Be Difficult—Law Firms Wrestle Over Unvaccinated COVID Survivors | The American Lawyer  The American Lawyer Former Trump official: Overcoming COVID-19 vaccine hesitancy right thing for SC residents  The State COVID-19 vaccines may become a viable business. That’s a problem.  The Japan Times View Full Coverage on Google News [ad_2]

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