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Courtesy of Eric CooperThe idea of early retirement didn't start to percolate until 2019. "That's when I found the Mr. Money Mustache website and this article that explained the simple math behind early retirement and the 4% rule." According to the 4% rule, which helps retirees determine how much they can spend without running out of money, Cooper had a big enough portfolio to stop working. Using Rule 72(t) to access his retirement money without penaltyWhen you contribute to retirement accounts like a 401(k) and IRA, you can start taking penalty-free withdrawals after age 59½. He rolled over $300,000 because that's about how much money he'll need for a $20,000 annual distribution each year until he's 59 ½.
Persons: Eric Cooper, Cooper, I'd, Cooper's, didn't, I've, It's, you've, That's Organizations: Business, Google, IRS Locations: percolate, Louisville
Real estate stocks have become oversold and that's presented an opportunity for investors, according to BMO. Real estate is the only S & P 500 sector that's in the red this year, off 6%. .SPLRCR YTD mountain S & P 500 Real Estate Sector year to date BMO identified four other periods of this abnormal underperformance. In the year following such troughs, real estate investment trusts outperformed the S & P 500 by about 17%, on average. "The death of commercial real estate is way, way precluded.
Persons: that's, Brian Belski, Belski, REITs, Charles Meyers Organizations: BMO, Real, Boston Properties, CNBC, Boomers, . Census, Hotels, Resorts Locations: New York, San Francisco
But it's not a decision one should make on whim; multiple factors can easily complicate the process, experts say. But in most cases, the U.S. buyer will need to open a bank account in the country they're buying real estate. 'Understand what your needs are'It will be important for you to "understand what your needs are," Boisson Aries said. "Buying these direct properties for that purpose is something that comes with far more risks than people realize," he said. And if you do decide to use the property for rental or commercial use, you may have additional tax burdens in that country, Boudreaux said.
Persons: Jude Boudreaux, it's, Boudreaux, Bojan Mujcin, Mujcin, Erin Boisson Aries, Douglas Elliman, Boisson Aries Organizations: Planning, Coldwell, CNBC, Sotheby's Locations: New Orleans, U.S, Barcelona, Costa Brava, Spain
But the FBI said this week they’ve arrested the mystery man who entered her Madrid apartment building that night: her estranged husband. Knezevich’s attorney, Kenneth Padowitz, told CNN in February that his client is innocent and “has never been to Spain.” Padowitz declined to comment Wednesday after Knezevich’s arrest. She was planning a trip to Barcelona with her friends on February 5, her brother told CNN, making her sudden lack of contact more concerning. Spanish firefighters entered her apartment for a welfare check and she was nowhere to be found, court documents said. And they were written with the help of another Colombian woman Knezevich had met on a dating app months earlier, court documents said.
Persons: Ana Maria Knezevich, Henao, they’ve, David Knezevich, he’d, Kenneth Padowitz, , ” Padowitz, Knezevich, ” Henao, Padowitz, Ana Maria Knezevich Henao, Manu Fernandez, James Marshall, they’re, ” Marshall, , Sanna Rameau, ” Rameau, she’d, — Knezevich, Knezevich’s, CNN’s Pau Mosquera, Denise Royal, Carlos Suarez Organizations: CNN, FBI, Miami International Airport, EOX Technology Solutions Inc, Peugeot, AP FBI Locations: Madrid, Spain, Florida, Barcelona, Fort Lauderdale, Miami, Serbia, Spanish, Turkey, Belgrade, Salamanca, Colombia, Colombian, Bogota
Home prices are falling in parts of Florida and Texas even as they soar nationally. Sale prices only dropped in 15 of 221 metro areas last quarter, and five were in those states. High prices, steeper mortgage rates, and supply catching up with demand help explain the declines. AdvertisementHome prices are falling in parts of Florida and Texas as buyers tap out and supply catches up with demand. AdvertisementThe takeaway is that a combination of sky-high prices, steeper mortgage rates and other costs like insurance squeezing buyers' budgets, and supply catching up with demand has resulted in prices flatlining or falling in parts of Florida and Texas, bucking the national trend.
Persons: , Fort Myers, Redfin, Coral Organizations: Service, National Association of Realtors, Fort, Fort Walton, Austin, Rock, NAR, Panama City, Homeowners, Federal Locations: Florida, Texas, Panama City, Crestview, Fort, San Antonio, New Braunfels, Lac , Wisconsin, Illinois, Kankakee, Rockford, Champaign, Urbana, Austin, Panama
Last October it removed curbs in most districts, and in March loosened restrictions on purchases of second homes. Other cities have also taken major steps to make the process of buying property easier. Changsha, the capital city of Hunan province, has also lifted home purchase curbs since last month. “The April Politburo meeting set a more supportive tone for the property sector, prioritizing the reduction of existing home inventory,” they said. “This may suggest that more local governments may be allowed to purchase homes directly from the market for social housing purposes.”
Organizations: Hong Kong CNN, Geely, Hangzhou Housing Security, Real, Administration, Getty Images, homebuyers, Communist Party, UBS Locations: China, Hong Kong, Hangzhou, Chengdu, China's, Sichuan, Getty Images Chengdu, Changsha, Hunan province, Evergrande, Beijing
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhatever it is you’re doing, do it with excellence, says chair of Hang Lung PropertiesThe leaders of Hang Lung Properties reveal the meaning behind the company's motto, "We do it well," and the importance of giving back.
Organizations: Hang
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailReal estate in mainland China remains good, says Hang Lung Properties Honorary Chair Ronnie ChanRonnie Chan, honorary chair of Hang Lung Properties, shares his thoughts on mainland China's property market and what's stopping the company from investing in Saudi Arabia.
Persons: Ronnie Chan Ronnie Chan Organizations: Hang Lung Locations: China, Saudi Arabia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChair of Hang Lung Properties talks business strategy for mainland China’s property marketAdriel Chan, chair of Hang Lung Properties, reveals the company's business strategy for mainland China's property market, plus its unique partnership with LVMH on sustainability.
Persons: Adriel Chan Organizations: Hang Lung Properties, Hang Lung, LVMH
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The kitchen and bathroom were gutted, and the smell of rats' nests was so strong I could hardly stand it. The property was located in a town I'd never heard of with fewer than 1,000 residentsThe abandoned home. I had been sitting on some life insurance money I'd gotten after my Marine husband died of war wound complications. I got lucky with the saleThe silver lining was that housing prices had skyrocketed since I'd purchased the property.
Persons: , Ivy, I'd, couldn't, Karie, Blackberries, Fugett, we'd, I, we're, We're Organizations: Service, Business Locations: Oregon, Philomath, Eugene, Alabama
Americans say it’s the worst time ever to buy a home
  + stars: | 2024-05-09 | by ( Matt Egan | ) edition.cnn.com   time to read: +4 min
Just 21% say it’s a good time to buy a house, according to a Gallup survey released Thursday. An overwhelming majority of Americans — 76% — say it’s a bad time to buy a house. Young Americans seeking to buy a home have been confronted by a toxic one-two punch of record-high home prices and painful mortgage rates. For context, in April 2019, the final reading before Covid-19, 61% of Americans polled by Gallup said it was a good time to buy a house. Mortgage rates top 7%Americans started to sour on the housing market as mortgage rates spiked and home prices surged after Covid.
Persons: ” Jeffrey Jones, White, , Lawrence Yun, ” Yun Organizations: New, New York CNN, Gallup, Young, homebuyers, National Association of Realtors, Federal Reserve, NAR Locations: New York, That’s
The three companies collectively operate 75 U.S. casinos that permit indoor smoking, where state law allows. States like Nevada and New Jersey have prohibited indoor smoking more broadly, but carved out exceptions for casinos. Legislation to end indoor smoking at casinos is in various stages in several states across the country, including New Jersey, Pennsylvania and Rhode Island. Advocates for smoking bans point to research by C3 Gaming that concluded smoke-free casinos generate more revenue and outperform competitors that allow smoking. In Las Vegas, MGM Resorts opened the first casino resort on the Strip to prohibit indoor smoking and even smoking on the pool deck.
Persons: Boyd, Bally's, it's, Jan Jones Blackhurst, we've, Marc Oppenheimer, we're, it'll Organizations: Boyd Gaming, Bally's Entertainment, Caesars Entertainment, Trinity Health, Nonsmokers, Rights Foundation, Trinity, Caesars, The Securities, Exchange Commission, C3 Gaming, SBC, North, United Auto Workers, Disease Control, U.S, CNBC, Las Vegas, MGM Resorts, MGM Locations: Livonia , Michigan, Bally's, U.S, Nevada, New Jersey, New Jersey , Pennsylvania, Rhode Island, North America, United States, Pennsylvania, Bensalem, Philadelphia, Las
Wall Street isn't to blame for the non-stop rise in housing prices, according to Capital Economics. The research firm said any legislation designed to block hedge funds from buying homes won't lower home prices. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe ongoing rise in home prices shouldn't be blamed on Wall Street, according to a Thursday note from Capital Economics. The worry is that a surge in big investors buying up single-family homes is driving up prices, exacerbating a shortage in housing, and preventing younger people from becoming first-time home buyers.
Persons: Organizations: Capital Economics, Investor, Service, Business Locations: Congress
Resorts World Las Vegas President Scott Sibella speaks during the opening of Resorts World Las Vegas on June 24, 2021 in Las Vegas, Nevada. The former president of the MGM Grand casino in Las Vegas is set to be sentenced Wednesday afternoon on a federal criminal charge related to his failure to report millions of dollars in wagers by an illegal bookmaker at his casino. Sibella's lawyers have asked that he be sentenced to probation, as have prosecutors. Sibella admitted knowing that a patron of his casino, Wayne Nix, ran an illegal bookmaking business, according to the Department of Justice. "Despite this knowledge, Sibella allowed Nix to gamble at MGM Grand and affiliated properties with illicit proceeds generated from the illegal gambling business without notifying the casino's compliance department," the DOJ said in January.
Persons: Scott Sibella, Sibella, Wayne Nix, Nix Organizations: Vegas, Resorts, MGM, Court, Department of Justice, MGM Grand, DOJ Locations: Vegas, Las Vegas , Nevada, Las Vegas, U.S, Los Angeles
Realtor.com identified 15 large US cities with the lowest incomes needed to afford a home. Some of the most affordable cities for homebuyers who earn less are in the South and Midwest. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Realtor.com has identified 15 large cities where homebuyers can make less than $100,000 a year — about the typical income of a household with two or more married or related members — and still afford to purchase a median-priced property. Here are the 15 US cities where prospective buyers with relatively lower incomes can still purchase houses, according to Realtor.com.
Persons: Realtor.com, , Danielle Hale, Hale Organizations: homebuyers, Service, West Locations: South, Midwest . Pittsburgh, California
Anton Govor left his corporate finance career to become an Airbnb host on Lake Garda in Italy. I visited Lake Garda for the first time when I was 21The main guesthouse at GardaDoma. Courtesy of GardaDomaDuring a drive from Munich to Florence, I stopped in Lake Garda completely by chance. AdvertisementI chose to leave my finance career behindIn December 2018, my second son was born at Lake Garda, and I took parental leave at our house. I devote 1 to 4 p.m. to property maintenance and planning the dinner menu with our work family, who take shifts in cooking.
Persons: Anton Govor, Govor, he's, , It's, Ernst & Young, Brenzone, Airbnb Organizations: Garda, Service, Ernst &, MOEX Group, Lake Garda Locations: Italy, Brenzone sul Garda, Moscow, Lake, Munich, Florence, Europe, Russia, Easter
As recently as April 2022, the billionaire Tesla founder claimed in an interview that he was couch surfing and didn't "even own a place right now." In redacted court filings from December, Musk said he purchased the home in February 2022 and that he still lives there. In 2023, the Austin property was appraised at nearly $7 million, county tax records show. Less than a year later, in April 2022, Musk said again that he didn't own a home and rotated between friends' spare rooms. Eight weeks later, the LLC that purchased the Austin house was formed.
Persons: , Elon, Tesla, Grimes, Musk, Stefan Cassella, I'd, he'd, they'd, I'm, Austin, Ken Howery, Walter Isaacson, Tesla's Austin Gigafactory Organizations: Service, Business, Texas, State, Department of Justice, SpaceX, Street Journal, PayPal, Austin, Montessori Locations: Austin, Texas, California, San Francisco, Colorado, Bastrop , Texas, Tesla's
Russia has faced waves of sanctions from the UK and other Western nations since launching its full invasion of Ukraine in February 2022, though President Vladimir Putin has sought to downplay their significance. British Foreign Secretary David Cameron described the new measures as an “unequivocal message to the Russian state” that “their actions will not go unanswered.”“Since the illegal invasion of Ukraine, Russia’s attempts to undermine UK and European security have become increasingly brazen,” Cameron said. Moscow has in the past sought to sanction Western individuals in tit-for-tat moves, barring dozens of British figures from entering the country after a previous wave of measures from London last year. “In the coming days, we should expect accusations of Russophobia, conspiracy theories and hysteria from the Russian government,” Cleverly said as he detailed the measures in Parliament on Wednesday. “This is not new, and the British people and the British government will not fall for it and will not be taken for fools by Putin’s bots, trolls and lackeys.”
Persons: James, attaché, , Seacox Heath, , Vladimir Putin, Putin, David Cameron, Russia’s, ” Cameron Organizations: London CNN, Moscow, Russian, Foreign Office, National Security, British, Locations: United Kingdom, Russian, Highgate, London, Sussex, England, Ukraine, Russia, Moscow, British
Schrock said Steward has real value, despite carrying a $9 billion debt load. “It never really stabilized the company,” Schrock said. Steward is putting all of its hospitals up for sale. It intends to hold auctions on June 28 for its hospitals outside of Florida and July 30 for its nine hospitals in Florida. Schrock said those timelines were negotiated as part of the new $75 million bankruptcy loan, and that Steward would seek more time to sell its hospitals if necessary.
Persons: Steward, Ray Schrock, Chris Lopez, , ” Schrock, “ There’s, Schrock, Lopez, Organizations: Health Care, Stewardship Health, Care, Medical Properties Trust Locations: Houston, Massachusetts, Florida
“This is a symptom of Japan’s population decline,” said Jeffrey Hall, a lecturer at Kanda University of International Studies in Chiba. “It’s not really a problem of building too many houses” but “a problem of not having enough people,” he said. According to figures compiled by the Ministry of Internal Affairs and Communications, 14% of all residential properties in Japan are vacant. “When an earthquake or a tsunami occurs, there is a possibility that vacant houses will block evacuation routes as they break down and get destroyed,” he said. In other rural areas with a high concentration of vacant houses, akiya have stalled development, the professor said.
Persons: , Jeffrey Hall, “ It’s, don’t, Akio Kon, it’s, “ They’re, Buddhika Weerasinghe, Yuki Akiyama, Akiyama, ” Akiyama Organizations: CNN, Kanda University of International Studies, Ministry of Internal Affairs and Communications, Kanda University, , Bloomberg, Getty, Ministry, Internal Affairs, Communications, Tokyo City University, Homes Locations: Japan, New York City, Tokyo, Kyoto, Chiba, Kanda, Yato, Yokosuka City, Kanagawa prefecture, Tambasasayama, Noto, Ishikawa, Europe, West,
Donald Trump's Mar-a-Lago documents trial has been delayed indefinitely. AdvertisementThe judge overseeing Donald Trump's criminal case over his holding onto secret government documents following his presidency delayed the trial indefinitely — giving him the chance to get rid of the charges if he wins the 2024 election. Another criminal case overseen by Smith, in a federal court in Washington, DC, was previously scheduled for March 4. In that case, Smith alleged Trump broke criminal laws through his efforts to overturn the results of the 2020 election. Trump's attorneys have also made immunity arguments in the classified documents case.
Persons: Donald Trump's Mar, It's, , Donald Trump's, Aileen Cannon, Cannon —, Trump, Carlos de Oliveira, Waltine Nauta —, Jack Smith, de Oliveira, Trump's, Stormy Daniels, — Trump, Smith, MANDEL NGAN, Fani Willis, Juan Merchan, Todd Blanche, Blanche, Merchan, reconvene, Cannon Organizations: Trump, Service, Nauta, Republican, Justice Department, US, Getty Images Locations: Lago, Manhattan, Washington ,, AFP, Getty Images Fulton County, Georgia, York, Florida, New York
Shares of Wynn Resorts popped 2% in after-hours trading Tuesday after the casino operator reported stronger-than-expected quarterly results, driven by the Super Bowl in Las Vegas and the recovery in China's Macao region. Macao It was a double beat in Macao, with both properties (Wynn Palace and Wynn Macao) reporting revenue and profit results better than Street expectations. Las Vegas Las Vegas put up a record first quarter of adjusted property EBITDAR. The Wynn Las Vegas resort and casino at dusk in Las Vegas, Nevada, US, on Monday, May 8, 2023. Wynn Resorts Ltd. is scheduled to release earnings figures on May 10.
Persons: We're, , DraftKings, Wynn, Jim Cramer's, WYNN, Jim Cramer, Jim, Bridgett Bennett Organizations: Wynn Resorts, Super, LSEG, Vegas Sands, MGM Resorts International, Wynn, Vegas Las, Super Bowl, Management, CNBC, Wynn Resorts Ltd, Bloomberg, Getty Locations: Las Vegas, China's Macao, Las Vegas , Boston, Macao, China, Vegas, Wynn Macao, Vegas Las Vegas, Boston, UAE, Las Vegas , Nevada
Investors in Blackstone's real-estate fund asked for their money back in droves — more than $15 billion to date. Unless the real-estate market comes roaring back, analysts warn, BREIT could end up shrinking to a fraction of its current size, leaving the fund's investors holding the bag. Only 3% of BREIT's holdings are in office buildings, which have been ground zero for commercial real estate pain. Advertisement"Not all real estate is created equal," BREIT boasted in a recent letter to stockholders, "and where you invest matters." "Commercial real estate is a slow burn," Brian Moynihan, the CEO of Bank of America, recently observed.
Persons: Blackstone, , BREIT, REITs, Steve Schwarzman, Jeenah, Nate Koppikar, Craig McCann, BREIT's, Chilton, ​ ​ McCann, McCann, Horacio Villalobos, That's, Donald Trump, Robert Chang, Schwarzman, Michael Blackshire, Phil Bak, Stephen Schwarzman, Shannon Stapleton, Brian Moynihan, it's, It's Organizations: BREIT, Orso Partners, Securities Exchange Commission, Blackstone, SEC, Chilton Capital Management, SLCG Economics Consulting, Publicly, University of California, Regents, Armada Investors, Reuters, Bank of America Locations: BREIT, Lisbon, Fideres
Despite lower price tags, Chinese EVs often have more powerful batteries and more advanced technology. The competition among hundreds of Chinese EV makers has spurred rapid innovation. Even Tesla CEO Elon Musk, who made a surprise visit to Beijing last week, has said that without trade barriers Chinese EV makers would "demolish" their competitors. Chinese EVs tend to be smaller, cheaper and more accessible to the masses — BYD's Seagull, a small all-electric hatchback, starts at less than $10,000. It would take time to set up a sales and distribution network, Fields said, and Chinese EV makers could face a perception issue among American consumers.
Persons: They're, Stella Li, America's Tesla, Tesla, BYD, Mark Fields, Elon Musk, Musk, Fields, they've, Li, Biden, Musk's, That's Organizations: Alliance for American Manufacturing, U.S, BYD, NBC News, Western, Communist Party, Ford, International Energy Agency, Western automakers, United States, Lawmakers, World Trade Organization, European, Rhodium Group, EV, China Association of Automobile Manufacturers Locations: China, EVs, U.S, BYD Americas, BYD, Shenzhen, United States, Beijing, Europe, United, Union, Chinese, Mexico, South Korea, Japan
If you’re planning to attend the Paris Olympics and see a bit of Europe this summer, you have a variety of plush new hotels from which to choose (though they’re likely to fill up quickly). Whether you’re going to the Games or simply going on vacation, you’ll find fresh boutique properties in Paris and many more that are an easy flight away, be it to the French Riviera, Rome, or fittingly, an island in Greece, the birthplace of the ancient games.
Persons: they’re Organizations: Paris, Games Locations: Europe, Paris, Rome, Greece
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