March 20th, 2024 10:25 PM by Eric Willner
Radio Show Notes 03/14/24 Thursday:
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"Unlocking Housing Luck: Biden's Tax Breaks Offer Hope Amid Affordability Crisis!"
By Eric Willner, Host of The Real Estate Show, America’s longest running daily radio show about real estate.
Welcome to the Real Estate Show – South Florida’s #1 Real Estate Radio Show and America's longest-running daily radio show about real estate. I'm your host, Eric Willner, known as the Voice of Real Estate and founder of America’s longest-running daily radio show about real estate. I'm also the creator of The Automatic Landlord System for Owning Cash Flowing Real Estate "Profitably and Hassle-Free". It’s a virtual real estate seminar in every episode.
Did you know that real estate offers the potential for multiple ROI streams, not just capital appreciation, including rental income, tax benefits, and depreciation deductions?
Today is Thursday, and we're diving deep into the "ATM – About The Money" Edition of The Real Estate Show, continuing our discussion on why NOW is the time to buy real estate, focusing on the role of L.U.C.K. in real estate.
We had a fantastic Wednesday night workshop where we explored the Financial Edge University Overview. We're building a community of Streetsmart – Money Smart people. If you want to join us at no cost - online, simply text EDGE to 561-861-2366. Remember, this week marks the 11th week of 2024 and we are rockin’ it!
But before we delve into today's topic, let's have a word from our sponsor. Today's show is brought to you by TimeFixMyCredit.com. Text "Credit" to get started on fixing your credit and unlocking your path to homeownership.
Now, let's talk about the important ingredient of Real Estate Success. Success is measured by the numbers, and it's crucial to understand the role of L.U.C.K. – Leveraging, Understanding, Courage, and Knowledge. Also Labor Under Correct Knowledge.
Attention: There is a crisis in America – The Financial Divide is GROWING. The Gap between the “Haves” and Have Nots”. Which side will you be on? It’s a game – The Money Game, and there are two sides. The wealthy and informed versus the not-wealthy and not well informed. There are two systems: the Public and the Private. Which one are you now? Which one do you want to be?
What if I could show you a way to jump over that financial divide and WIN at the Money Game?
Imagine having less stress, more peace of mind, and always enough money. The difference is not physical; it's mental – it's what you're taught. Financial literacy is key!
To WIN you must get the Edge! How? Take the 72 Hour Challenge and join the Privileged Group by surrounding yourself with the right team. Membership has its advantages!
We have the Edge and you can too! Now, let's discuss the power of a three-pronged approach – the three-legged stool of success. Belief in homeownership, financial order, and owning a business that pays you and gives you tax benefits is essential. Being in the know is also an Edge. For example:
President Joe Biden has introduced plans to address the country's affordable housing issues, proposing new tax breaks for first-time homebuyers and "starter home" sellers. However, experts hold mixed opinions on these proposals. Biden's plan includes a "mortgage relief credit" of $5,000 per year for two years for middle-class, first-time homebuyers, equivalent to reducing the mortgage interest rate for a median-price home by 1.5 percentage points for two years. Additionally, a one-year credit of up to $10,000 is proposed for middle-class families selling their "starter homes" to another owner-occupant.
The administration aims to incentivize homeowners to sell their homes, especially those with lower mortgage rates than current rates. The challenge lies in predicting the fate of Biden's proposal during a presidential election year, particularly with a split Congress. Despite the ongoing affordability crisis with soaring home prices and mortgage interest rates, experts are uncertain about the proposal's impact on easing mortgage qualification.
2023 was noted as the least affordable year for homebuyers in over a decade, with those making the median U.S. income spending 41.4% of earnings on a median-priced home. While interest rates have fallen from 2023 peaks, the average interest rate for 30-year fixed-rate mortgages hovers around 7% as of March 7. Experts emphasize that addressing the housing supply issue is crucial, and merely increasing demand may not be the solution. Despite varying opinions, the acknowledgment of housing affordability in the State of the Union speech is considered a positive starting point by some experts.
At The Financial Edge Academy, we have a 5-star system to win at The Money Game. We provide continuous improvement and expert coaching to help you achieve success.
Save more of what you already make, make more by investing wisely, and leverage your assets to multiply your wealth. The power of three is undeniable!
Before we continue, a quick reminder to text EDGE to 561-861-2366 to join our community and take advantage of our resources.
And now, a word from our sponsor. Today's show is brought to you by www.TimeToFixMyCredit.com, our partner in bringing you homeownership regardless of credit or down payment.
In conclusion, I want to thank you for tuning in. Don't just listen – use our show to get started in real estate investing. Join us in our workshops – they're for you! Tomorrow is our Friday Weekly Wrap-Up – don't miss the highlights of the week! Remember, it's a stone-cold fact that real estate is the best investment. Period. It's the IDEAL Investment.
Thank you for listening, and remember to tune in every weekday to The Real Estate Show – your literal seminar in every episode.
Also, you can listen to the entire 30 minute broadcast of any day’s edition of The Real Estate Show by clicking on the audio link on that days summary post. You can also watch the Facebook Live video at www.facebook.com/TheRealEstateShow.
Want to know more? If you are serious about real estate and paying off debt, then find out more on today and every day’s episodes and learn more about Real Estate Investing and learn HOW TO by listening to The Real Estate Show with Eric Willner , Live every weekday morning at 9 o’clock (EST) on Florida’s Money Talk Radio stations WWNN AM1470, FM 95.3 and FM 96.9. You can also hear us on the free apps: iHeart Radio and TuneIn. Recorded Rebroadcasts are available 24/7 on Facebook. Please share this and our Facebook updates.
Eric Willner is the Host and Founder of The Real Estate Show, an informative show about how to buy, own, and improve real estate the right way, on autopilot. - The Automatic Landlord way. (AutomaticLandlord.com) You can reach Eric Willner at Eric@Ericwillner.com or 888-595-7779.
Also listen to the rebroadcasts on demand on Facebook.com/TheRealEstateShow
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