This part of the real estate sector is highly challenged right now, says panelist
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- Опубликовано: 12 май 2024
- A 'Mornings with Maria' panel discusses the current real estate market and the impact on businesses.
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With the current market conditions, I'm concerned about how it's affecting my portfolio.
The commercial real estate sector, in particular, is taking a hit due to increased remote work and higher vacancy rates. Diversifying into more stable sectors might be wise. For now, I'd avoid heavy investments in commercial properties.
Absolutely. Residential real estate is relatively safer, but even there, rising interest rates are making mortgages more expensive. It's essential to stay updated with market trends and perhaps consider short-term rental properties which are still in demand.
I've been experiencing a decline in my REITs and thinking of reallocating my investments. The global economy's slow recovery from the pandemic and geopolitical tensions are creating a volatile environment. Any advice on the next steps?
You're not doing anything wrong; the problem is that you don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging conditions.
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I've been with Eric Paul Elmer for the last five years or so, and his returns have been pretty much amazing.
Second order effect: property tax RATES rise significantly for all small-non-commercial-property/home owners.
Because assessments of homes and small properties are not being lowered at the same time commercial assessments are being drastically reduced (as is proper by p-tax assessment law), nominal p-tax liabilities of every Big City homeowner will need to rise. A Lot. (pun intended).
1. Assessors will be forced to lower assessments on commercial property.
2. Tax levies go in one direction: up. P-tax rates = Tax levy divided by (taxable) EAV (Equalized Assessed Value). P-tax rates will rise.
3. Higher tax rates on homes will equate to higher p-tax bills for homeowners.
" It's a black cloud out there " alright - but we do know how it will shake out - and it aint good .
Thx!!
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