I am almost out of here for the holidays myself to enjoy time with my family in Tejas. I thought I would streamline the newsletter just a bit this time and just express a few things on my mind as 2017 comes to an end and we look at 2018, either individually or collectively. January’s edition will be back and loaded with all the usual.
Housing Affordability
This has and will continue to be a hot issue in the Denver Metro Area, along with it’s sister topic of gentrification. IMHO, home ownership is the way to go. The bottom line is that as king of your castle, you’re in the driver’s seat. Getting renters on the road to ownership is just one answer. The other question is would you rather have home prices and rents adjust to how much you make? Or would you rather earn the income necessary to afford existing home prices and rents? I opt for the second. Projects and incentives focused equitable wages, financial planning, workforce and career development, for starters, would help solve both the affordability and gentrification issues. Easier said than done but the solution has to be more than just building more housing units that in a depression would contribute to high vacancy rates.
Taxes
I wrote my blog on tax reform and mortgage deduction in October. I guess many could be happy to save a few dollars with the standard deduction when millionaires save hundreds of thousands if not millions. You can go ahead and read The Tax Cuts and Jobs Act yourself for the details. Just start feeding the piggy bank and take it easy on the holiday spending.
Financial Literacy
A very important aspect to my business is the service I provide regarding financial literacy with my background in mortgage lending and housing counseling. Reviewing consumer credit reports, tax returns and pay stubs as well as credit establishing strategies and budget preparation have been a normal part of my client appointment discussions. I have also been heavily involved in presenting on this topic through various opportunities like the Mexican Consulate, NAHREP’s Hispanic Wealth Project, Adelante,and small business workshops.
What are your plans?
All sorts of issues, obstacles and problems are out there in each of our communities and some that are shared across the nation. What about in your world? If home ownership is not a reality yet, plans can certainly be laid out to be one before 2018 ends. Maybe you’ve been on the fence about selling and taking advantage of the large equity you have and make that huge move. If you are either one, I’d like to talk to you. Maybe it’s not you and it’s your family member or friend. I can talk to them too :).
As always you can contact me by email or call 720-253-8513. See you in 2018!
Rogelio Rodriguez
Vida Real Properties and Services, LLC
