|
Trump ballroom project security funding included in $72B GOP enforcement bill PoliticoGOP offers $1B for White House security, sparking dispute over ballroom The Washington PostSenate Republicans look to fund $1 billion in security upgrades for Trump's ballroom PBSSenate GOP eyes $1 billion for Trump ballroom security as part of ICE, border patrol package CNN
|
|
Paxton's Fund-Raising Struggles in Texas Underscore Deep Rift in G.O.P. The New York TimesRep. Michael McCaul warns Texas Republicans not to nominate Ken Paxton for Senate KUTLandry on conundrum Paxton GOP Senate win could bring Texas Republicans Lubbock Avalanche-JournalTop Ken Paxton donors are sitting out as he 'struggles' to finance his campaign: report rawstory.com
|
|
After two years of a red-hot market, it's time real estate and mortgage professionals get ready for what could be a slowdown in their business.
Earlier this summer housing prices were on fire. Now there is talk of a "housing recession." Due in part to higher mortgage rates and more people vacationing this summer, U.S. existing home sales fell in July for the sixth straight month, the longest streak of declines in more than eight years.
SEE MORE Is Your Job Burning You Out?
One of my clients in the Midwest put his home up for sale recently and has had no interested buyers - none. A few months ago, we were certain it would sell in days. The plan was to sell the house and pay off their construction loan on their new home before it converted to a permanent mortgage. Now, that plan may need to change.
Several mortgage companies have already let go thousands of employees, and one company, Sprout Mortgage, based in East Meadow, N.Y., shut down in early July. Real estate brokerage companies, such as Compass and Redfin, have also slashed their workforce.
Real estate is cyclical, and while sales will not totally dry up, anyone tied to the industry should get their finances in order now in case the current downturn lasts another several months.
Here are a few moves to consider:
Build an Emergency Fund Twice as Big as a Salaried Worker's
No one wants to get caught borrowing money to pay their bills. While putting away enough money in a savings or money market account to cover six months of expenses is normal, it's best to plan for a longer period if you work in a cyclical industry.
Consider keeping six to 12 months of r
|
|
