Real Estate and Housing (Residential)

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      She Invested in Her Future and Her Family. Which Property Would Work for Both?

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      Tabitha Jones can’t sit still. A compliance director for a financial firm, she has also coached volleyball, led wellness retreats, hosted pop-up luxury picnics and made a real estate career in the Bronx and lower Westchester County, N.Y.Ms. Jones, 38, didn’t intend to become a part-time real estate agent, but when she bought her first property in Westchester County a decade ago — a home for herself, her mother and her younger brother — everyone was so impressed with her diligence on the deal that they urged her to consider being the agent next time.[Did you recently buy a home? We want to hear from you. Email: thehunt@nytimes.com]Always professionally curious, she took on an administrative role at a brokerage in White Plains, N.Y., on weekends. Since getting her license in 2016 and joining Keller Williams as an agent, she has worked mostly with first-time buyers, friends and acquaintances. Now an experienced investor and agent, she enjoys teaching others.“She just wants to elevate,” said her brother, Christian Jones, 30.Ms. Jones recently started a real estate investing club with a group of like-minded friends, all 35-to-40-year-old Afro-Latina women from the Bronx looking to invest in their home borough, which she believes is “the next big thing.”“There are going to be investors coming in, and they’re going to start taking over the neighborhoods,” she said. “Why can’t we be those investors?”Her goal is to own five properties. To reach it, she said, “you need to be willing to sacrifice.” She’s grateful to have a job in the finance industry (and her side gigs), and she doesn’t spend money on clothes, shoes or gadgets. Her phone is a hand-me-down, and she wouldn’t replace her car until “the wheels literally fell off.”Last year, Ms. Jones wanted to purchase her third property, ideally in the Bronx or nearby, which her brother could potentially occupy. He’d been living in a rental in the borough, finding himself after their father’s death, unsure of his next move. For the longer term, she sought a solid investment property that would be easy to rent out and could be a flexible asset, so she looked at everything from condos to multifamily homes to small mixed-use buildings.“I’m always looking,” Ms. Jones said. “I’m always in that head space.”Among her options:Find out what happened next by answering these two questions: More

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      Note to Democrats: It’s Time to Take Up Your Hammers

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      I would prefer to live in a world where the recent news that more than 146,000 New York City schoolchildren experienced homelessness during the last school year was regarded as a crisis demanding immediate changes in public policy. But if helping children isn’t enough to move New York’s political leaders to action — and, by all indications, it most certainly is not — they might consider doing it for the sake of the Democratic Party.There is a straight line from homeless schoolchildren to Donald Trump’s election victory.Homelessness is the most extreme manifestation of the nation’s housing crisis. America simply isn’t building enough housing, which has driven up prices, which has made it difficult for millions of households to keep up with monthly rent or mortgage payments. Every year, some of those people suffer at least a brief period of homelessness.Popular anger about the high cost of housing, which is by far the largest expense for most American households, helped to fuel Mr. Trump’s comeback. He recorded his strongest gains compared with the 2020 election in the areas where living costs are highest, according to an analysis by the Economic Innovation Group, a nonpartisan think tank.The results are more than a backlash against the party that happened to be in power. The animating principle of the Democratic Party is that government can improve the lives of the American people. The housing crisis is manifest proof that government is failing to do so. And it surely has not escaped the attention of the electorate that the crisis is most acute in New York City, Los Angeles and other places long governed by Democrats.Republicans promise to cut taxes and they cut taxes. Democrats promise to use tax dollars to solve problems and one in eight public school students in New York experienced homelessness last year. It is the ninth straight year the number of homeless schoolchildren in New York topped 100,000.The good news is that Democrats still have the power to do better. While the party will soon be sidelined in Washington, it is primarily local and state laws that impede home building, including zoning laws that limit development, building codes that raise costs and local control measures that give existing residents the power to prevent growth.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Millions of Movers Reveal American Polarization in Action

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      Aside from their political views, Joshua Fisher and Ryan Troyer have a lot in common. In 2020, they lived across the street from each other in Sioux Falls, S.D. They are both white men of a similar age. Mr. Fisher, 42, is an auto technician; Mr. Troyer, 39, is a sanitation worker. They are both […] More

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      How to Sell a Haunted House (or Not)

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      Even the most skeptical real estate agents say they think twice about the existence of ghosts, especially after unusual encounters.A real estate agent, Mike Fabbri, still remembers the chill of opening the door of an apartment near Washington Square Park in Manhattan.His client, a media planner in her mid-20s, was on the hunt for a quiet, one-bedroom in Greenwich Village. She walked in and immediately walked out. “She said, ‘I’m fine with a nice ghost, but I felt really evil energy in that apartment,’” Mr. Fabbri recalled.He sympathized. “I said, ‘You know, there are things you can change in an apartment, like the wallpaper. But you can’t change an evil spirit or a demon without priests. Let’s move on.’”Mr. Fabbri helped her find what he called a “charming” unit in a prewar co-op. No ghosts.Haunted houses, if one believes, can be problematic for real estate agents. The New York Times talked to agents who have embraced the macabre or have at least learned how to navigate it, as believers themselves or as sympathizers.They are the kind of agents who confess to would-be buyers that something might be amiss — an acknowledgment that many agents are not necessarily bound to. According to a 2023 Zillow analysis of state laws, only Massachusetts, Minnesota, New Jersey and New York require agents to disclose suspected haunting or paranormal activity.Some houses considered “stigmatized” are the sites of grisly murders or criminal operations. Others have been rumored to harbor ghosts. The rumors aren’t always just rumors, in the experience of Cindi Hagley, a real estate agent in the San Francisco Bay Area.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Residents of a Mobile Home Park Join Forces to Buy Their Community

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      The residents are the first in the state of Maine to successfully utilize a new law making it easier for them to compete with investors and gain ownership of the land their homes sit on.Manufactured houses, widely known as mobile homes, are one of the most affordable options for homeownership in the United States, but they typically come with a big risk: You own the house; you don’t own the lot it sits on.That has made mobile home parks ripe targets for investors, who buy communities and then increase the lot rents to boost profits. It’s a massive industry: manufactured homes account for approximately one in 10 new single-family homes in the United States, according to a 2023 report by the Manufactured Housing Institute trade organization.To curb investor involvement, the state of Maine ushered in a new law last year that requires mobile home park owners to give advance notice to residents if they intend to sell, giving the community members a chance to buy it themselves.Linnhaven Mobile Home Center is a community of nearly 300 occupied homes in Brunswick.Tristan Spinski for The New York TimesNow, it’s the largest resident-owned community in Maine.Tristan Spinski for The New York TimesOn Oct. 10, the residents of Linnhaven Mobile Home Center, a community of nearly 300 occupied homes in Brunswick, became the first to succeed in utilizing the new law. They paid $26.3 million to buy the property from their landlord by cobbling together loans and grants from several sources, including the state and the town of Brunswick.Now, it’s the largest resident-owned community in Maine, giving hope to other owners of manufactured homes. Several other states also have similar laws in place, including Connecticut and New York.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      New Real Estate Rules Sow Confusion, at Least in Short Term

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      Changes in how real estate commissions are advertised and paid went into effect this weekend. Buyers and even some agents aren’t sure what they mean.An hour before the open house on Saturday afternoon, a real estate agent paced across the dark bamboo floors, straightening the throw blanket, fluffing the pillows and lighting a scented candle.The last-minute sprucing at the $1.2 million condo in Jersey City, N.J., was exactly what agents have done at open houses for decades before this weekend.The difference now is the information they are required to disclose and where they can disclose it when it comes to real estate commissions — a charge that had hovered between 5 to 6 percent of the sales price, and until now was typically paid by the seller and split between the seller’s agent and the buyer’s agent.The changes that went into effect this weekend decouple the two commissions: Sellers are no longer expected to pay buyers’ commissions, though they can still choose to do so, and the proposed commission split can no longer be advertised on the online database commonly used to sell homes, the M.L.S.The new rules went into effect across the United States as part of a $418 million settlement agreement with the National Association of Realtors, a powerful real estate trade group that was successfully sued by a group of homeowners in Missouri who argued that the longtime practice requiring them to pay agents’ commissions led to inflated fees. Brokerages have spent months trying to educate agents and consumers on the looming changes.But when they were implemented nationwide this Saturday, buyers remained befuddled.Sarthak Jain, left, and his wife, Aditi Maheshwari, touring a duplex in Jersey City alongside their Realtor.Andres Kudacki for The New York TimesWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Harris y Trump presentan un claro contraste sobre la economía

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      Ambos candidatos abogan por ampliar el poder del gobierno para dirigir los resultados económicos, pero en ámbitos muy diferentes.[Estamos en WhatsApp. Empieza a seguirnos ahora]La vicepresidenta Kamala Harris y el expresidente Donald Trump volaron a Carolina del Norte esta semana para pronunciar lo que se anunciaron como importantes discursos sobre la economía. Ninguno de los dos expuso un plan detallado de políticas: ni Harris, que se centró durante media hora en la vivienda, los comestibles y los medicamentos con receta, ni Trump, que durante 80 minutos desperdigó varias propuestas entre reflexiones en voz alta sobre inmigrantes peligrosos.Pero ambos candidatos, cada uno a su manera, enviaron a los votantes mensajes claros e importantes sobre sus visiones económicas. Cada uno de ellos defendió la visión de un gobierno federal poderoso, uno que utilice su poder para intervenir en los mercados en busca de una economía más fuerte y próspera.Solo discreparon, casi por completo, sobre cuándo y cómo debe utilizarse ese poder.El viernes en Raleigh, Harris empezó a imprimir su propio sello a la economía progresista que ha dominado la política demócrata en la última década. Este pensamiento económico abraza la idea de que el gobierno federal debe actuar con agresividad para fomentar la competencia y corregir las distorsiones en los mercados privados.El planteamiento busca grandes subidas de impuestos a las empresas y a quienes obtienen ingresos altos, para financiar la ayuda a los trabajadores de ingresos bajos y de clase media que luchan por crear riqueza para sí mismos y para sus hijos. Al mismo tiempo, ofrece grandes exenciones fiscales a las empresas que se dedican a lo que Harris y otros progresistas consideran un gran beneficio económico, como la fabricación de tecnologías necesarias para luchar contra el calentamiento global o la construcción de viviendas asequibles.Esta filosofía anima la agenda política que Harris presentó el viernes. Se comprometió a entregar hasta 25.000 dólares en ayudas al pago inicial a cada comprador de primera vivienda durante cuatro años, al tiempo que destinaría 40.000 millones de dólares a empresas constructoras de primeras viviendas. Harris afirmó que reinstauraría de forma permanente el crédito tributario por hijos ampliado que el presidente Biden estableció temporalmente con su ley de estímulo de 2021, al tiempo que ofrecería aún más ayuda a los padres de recién nacidos.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Harris and Trump Offer a Clear Contrast on the Economy

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      Both candidates embrace expansions of government power to steer economic outcomes — but in vastly different areas.Vice President Kamala Harris and former President Donald J. Trump flew to North Carolina this week to deliver what were billed as major speeches on the economy. Neither laid out a comprehensive policy plan — not Ms. Harris in her half-hour focus on housing, groceries and prescription drugs, nor Mr. Trump in 80 minutes of sprinkling various proposals among musings about dangerous immigrants.But in their own ways, both candidates sent voters clear and important messages about their economic visions. Each embraced a vision of a powerful federal government, using its muscle to intervene in markets in pursuit of a stronger and more prosperous economy.They just disagreed, almost entirely, on when and how that power should be used.In Raleigh on Friday, Ms. Harris began to put her own stamp on the brand of progressive economics that has come to dominate Democratic politics over the last decade. That economic thinking embraces the idea that the federal government must act aggressively to foster competition and correct distortions in private markets.The approach seeks large tax increases on corporations and high earners, to fund assistance for low-income and middle-class workers who are struggling to build wealth for themselves and their children. At the same time, it provides big tax breaks to companies engaged in what Ms. Harris and other progressives see as delivering great economic benefit — like manufacturing technologies needed to fight global warming, or building affordable housing.That philosophy animated the policy agenda that Ms. Harris unveiled on Friday. She pledged to send up to $25,000 in down-payment assistance to every first-time home buyer over four years, while directing $40 billion to construction companies that build starter homes. She said she would permanently reinstate an expanded child tax credit that President Biden temporarily established with his 2021 stimulus law, while offering even more assistance to parents of newborns.She called for a federal ban on corporate price gouging on groceries and for new federal enforcement tools to punish companies that unfairly push up food prices. “My plan will include new penalties for opportunistic companies that exploit crises and break the rules,” she said, adding: “We will help the food industry become more competitive, because I believe competition is the lifeblood of our economy.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More