If you haven’t read Part 1 or Par 2 go to www.longislandpress.com click the link News, and then scroll down to the link, real estate.
Those countries, especially China, can export and dump their cheap goods here, as they are now doing with their electric cars worldwide.
My idea is to balance our tariffs and by reducing our local and federal income taxes proportionately. Putting more money back into the pockets of our dwindling middle class will boost and scale our economy to higher levels, providing increased sales and income taxes to our local and federal government.
However, taxing our most crucial and critical trading partners, Canada and Mexico, is a mistake and a huge error in judgment by our President. Neither country is benefitting as it’s just a tit for tat back and forth increases in tariffs by those countries and will provide no winner in the long run; but the consumer will be the biggest loser!
Tariffs just don’t work the way we are carrying them out.
As I have said, our real estate market will be affected, but as to the length and severity, no one can know for sure. But at some point, as increasing inventories continue to occur across our nation, prices will become more normalized in a more balanced and/or slower and reduced priced market as they have become in certain areas of California, Florida and other areas.
Inventory was up 27% higher from 2023-2024. Ten States had more unsold inventory last year than in 2019, which one might consider a normal year prior to the pandemic.(housewire.com)/ Builders are sitting with excess new construction and prices have been reduced.
The median price of a single-family home at the end of 2024 was $419,200, but the average was approximately $510,300 (fred.stlouisfed.org). For more up-to-date information on the current market as of March 2025 and to determine some of the most beneficial, affordable and worst places to reside in 2025, go to: cotality.com
National single-family home prices are forecast to reach a new high. The current median price for all single-family homes in the U.S. is $375,000. The one surprising thing that is apparent is that the northeast continues to buck the overall U.S. trends, remaining unfazed by reduced job growth, higher interest rates and continuing affordability issues. (cotality.com)
The income needed to afford to purchase a median-priced home of $375,000 is now $83,400. Home price growth from January 2024 to January 2025 was 3.3%. The future forecast is the same from January 2025 to January 2026. See more pertinent information go to (cotality.com).
For those considering moving to another state or staying locally, it is imperative that you perform your research pragmatically and logically to provide you with the greatest insight into your most valuable asset, which the average person will own in their lifetime.
It is a crucial and monumental decision that will affect your family and build your future wealth factor.
No one can look in a crystal ball and predict the future, but if history is a way to understand what may happen, then real estate will still hopefully be a major factor in growing one’s future prosperity and well-being—that is, if we don’t implode or blow ourselves up.
However, just maybe, the three billionaires, Elon Musk, Jeff Bezos, and Richard Branson, have considered another idea that could lead to a different solution.
They may realize and believe that just maybe the earth is too far gone, with the irreparable damage being done, irreversible degrading of our ozone layer changing our climate, pollution around our globe, the continued burning of fossil fuels and other contributing variables, will make living an impossibility in the future.
Could this be why Elon Musk’s Space X, Jeff Bezos’s Blue Origin and Richard Branson’s Virgin Galactic are so driven, passionate and committed to travelling to Mars and other planetary systems to re-populate and further the continued survival and existence of our human race?
Maybe in the future, our being and reality will not be so focused on whether or not we own real estate and/or possessions but on being able to live and let live in a more peaceful and tranquil environment.
Philip A. Raices is the owner/Broker of Turn Key Real Estate, located at 3 Grace Ave Suite 180 in Great Neck.
For a free 15-minute consultation, value analysis of your home, or to answer any of your questions or concerns, he can be reached
by cell: (516) 647-4289 or by email: Phil@TurnKeyRealEstate.Com and you can search properties at your leisure and convenience at:
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