There are warning signs that the U.S. economy is closer to a slowdown. What does that mean for real estate? (Credit: iStock) The yield curve inversion and threats of an escalating trade war recently sent markets into a tizzy last week. If those economic jolts are going to hit the real estate industry hard, it […]
Turkey’s gearing up to tax the wealthy and their luxury homes
Luxury villas along the Bosphorus Strait in Turkey (Credit: iStock) High-earners and those looking to purchase luxury homes in Turkey have gotten a brief respite before new taxes are slated to go into effect. The country’s Treasury and Finance ministry prepared the tax measures and other proposals to contain the government’s growing budget deficit, which […]
Benvenuto! Why the number of high-net-worth individuals applying for Italian residency may spike
Tuscany, Italy (Credit: iStock) The number of ultra-wealthy taking up residency in Italy may surge this year. The influx of high-net-worth individuals is due to a new tax program for residents, Bloomberg reports. Known as the “New Resident Regime,” which the Italian government introduced in 2017, foreigners who establish a residence in the country can […]
Down goes Measure EE: Property tax referendum routed at polls
LA Mayor Eric Garcetti Voters on Tuesday soundly rejected a proposed parcel tax to fund the Los Angeles Unified School District, a measure that, if passed, would have had the biggest impact on commercial landlords. It was another defeat for a referendum that appeared to take aim at large property owners and developers. In November, […]
Trump’s move to take Fannie and Freddie private could mean higher mortgage costs
FHFA director Mark Calabria (Credit: Federal Housing Finance Agency and iStock) The Trump administration’s plan to return Fannie Mae and Freddie Mac to private ownership, which the president has called a “pretty urgent” issue, may come with some politically inconvenient truths for 2020. Mark Calabria, the new director of the Federal Housing Finance Agency, insists that […]
Here’s what you should know about Measure EE ahead of Tuesday’s vote
LA Unified School District Superintendent Austin Beutner and LAUSD headquarters in DTLA On Tuesday, Los Angeles voters will decide on Measure EE, which would establish a new tax on all properties within the city’s sprawling Unified School District. If approved, the referendum would increase taxes on property owners, with most single-family owners feeling far less […]