Category: News

According to a recent report by real estate website Zillow.com, South Florida “Mom-and-Pop” landlords are cashing in on a recovering and hot rental market, and making substantial returns on their rental properties. “Mom-and-Pop” landlords are considered property owners who own just one property, and renting is not their primary or full-time business.

This comes at time when the rental market is beginning to not only improve, but thrive, following the subprime mortgage crisis and economic downturn between 2007 and 2009. At that time, thousands of South Florida homeowners became landlords, and they are now beginning to reap the benefits. Many are in a better financial position than they originally thought possible.

This reflects a shift in the American housing and rental markets. Demand for rentals has significantly increased post recession, as many are attracted to the benefits and conveniences of renting, including flexibility. For example, most tenants sign a lease — a legal,binding contract that means the tenant is responsible for paying rent for an apartment for a certain amount of time, typically six months, one year, or even month-to-month. This is especially appealing to those who are relocating, or those who aren’t quite ready to commit to the longevity of a mortgage.

Many people find renting to be more cost-effective for their financial needs. Some have even sold their homes in favor of renting an apartment following the housing market collapse. Additionally, renting allows tenants to enjoy all the benefits and comfort of living in a home, without the responsibilities of owning a property, which makes rentals especially appealing to both workers and retirees alike.

Property managers and developers are also feeling the positive effects of a recovering housing and rental market, as more and more young professionals are leaving the nest. The construction boom is mostly taking place in metropolitan areas across the country, where renting is commonplace.

Home ownership, along with a white picket fence, has long been synonymous with achieving the fabled “American Dream”, however, this ideal is fading as home ownership rates are declining nationally. In fact, the percent of homeowners in the first quarter of this year was nearly 65%, the lowest it’s been since 1995, according to U.S. Census Bureau data.

In lieu of declining home ownership rates, perhaps it’s time for Americans to reinvent and redefine the American Dream, as well was what makes a home. It’s often said that home is where the heart is. Perhaps The Jeffersons had it right, and home just might be that deluxe apartment in the sky.

As packaged, salt and sugar-laden foods continue to saturate the shelves in our markets and dominate American food culture, one chef in Chicago is saying enough is enough. Homaro Cantu, chef and owner of the Michelin Star-rated Moto Restaurant in the Windy City, told The Packer in a recent interview that the time for small measures to reform the way American food is produced, sold, and consumed is over.

“We need a moon shot,” Cantu told reporters. “Forget about making incremental changes within the system.” Cantu, like many other respected chefs across the world, believes that governmental and other systemic barriers to making the changes necessary to protect human health and improve food culture make it impossible to implement these changes in any controlled, steady way. The chef says that now is the time for chefs, effectively the fighters on the ground, to start working with local, eco-friendly producers of food to produce healthy, delicious food that doesn’t impact our waistlines or the environment.

Despite Staggering Obesity Levels, Americans Are Malnourished
The biggest problem with American food culture is, of course, that it has led to an obesity epidemic. At last blush, nearly two-thirds of American adults were overweight or obese. The interesting part about that statistic? We are overweight, but we’re also malnourished.

Vitamin D deficiency, for instance, is exceptionally common, with a full 75% of Americans suffering from a lack of this essential vitamin. Vitamin D can be consumed through eggs and fatty fishes, but it can also be synthesized by the body through absorption of sunlight. While Homaro Cantu and other chefs can do nothing to push Americans to get outdoors, they can help to get more of the right kind of food in front of their customers.

Smarter, Healthier Food is the Solution
And that’s really the crux of what Cantu is saying, and it’s what he’s been offering through the respected Moto Restaurant. Microgreens are one of those foods that was before seen as a healthy eating trend for those with extra pocket change; Cantu makes them a focus of many of his dishes.

Usually no more than an inch and a half tall, microgreens are harvested after a shortened growing period. Nutritionists and food scientists have touted microgreens as more nutritionally valuable versions of their fully matured counterparts. Microgreen cilantro, for instance, has 300% more beta-carotene than matured leaves of the plant.

From microgreens to ethically raised chicken, these are the foods Cantu wants to get people excited about. While he and other chefs on the same mission understand that the increased price of organic, ethically produced food may make this a hard sell, Cantu knows that the flavors — and the health benefits — will ultimately speak for themselves.

Do you agree with Chef Cantu’s idea that American food culture needs a revolution? Tell us why or why not in the comments below.

A team of researchers from the University of Exeter in the United Kingdom have published an interesting new study showcasing the causal link between drinking and long term memory impairment in The American Journal of Geriatric Psychiatry. The researchers questioned a group of 6,542 American adults of middle age about their drinking history. Next, they assessed their mental abilities. The results, while not necessarily surprising, are certainly illuminating.

In an interview with The Daily Mail, Dr. Iain Lang, the study’s lead researcher, said, “This finding – that middle-aged people with a history of problem drinking more than double their chances of memory impairment when they are older – suggests… that this is a public health issue that needs to be addressed.”

Alcohol Forces the Brain to Mimic Symptoms of Alzheimer’s, Other Diseases
This new study is just the latest in a long history of trying to bridge the gap between alcohol intake and debilitating, life altering neurological diseases. A previous study from Suzanne L. Tyas, Ph.D. published by the National Institute on Alcohol Abuse and Alcoholism tried to ascertain whether or not alcohol abuse led to a higher chance of developing Alzheimer’s Disease.

While no causal link was found, the research did find interesting similarities between the way brains act under the influence of alcohol and the way Alzheimer’s forces them to act. For instance, the average person can recite a phone number 10 times and have it memorized. If you put the same task to an inebriated or mentally impaired person, they will likely show the same degree of difficulty or confusion with the task.

Many posit that this effect of alcohol could be what prompts the brain to deteriorate into the various states of mental impairment that plague the elderly population. This newly established link between heavy drinking in young to middle age people and long term mental impairment in the twilight of life could be the first step toward solving the issue.

Are you worried that your drinking habits will lead to a mental condition later on in life? Tell us why or why not in the comment section below.

A recently-released report is showing that Americans are putting more money toward their retirements than ever — and the trend is taking place across all age groups.

According to a July 23 USA Today article, the average contribution to individual retirement accounts (IRAs) during the tax year 2013 grew by 5.7% over the year before, bringing the amount to an all-time high of $4,150, and the average IRA balance increased 10% to $89,100.

The average IRA contribution increased for every age group as well, according to the Fidelity Investments study published on July 23. Respectively, the average contribution grew by 3.9%, 6.7% and 6.2% for people in their 20s, 30s and 40s.

Another Fidelity Investments study showed that the top New Year’s resolutions this year were to save more, pay off debt and spend less, USA Today reports, which may explain the rise in contributions toward retirement savings.

“People are increasingly hands-on, from on-the-go cameras to on-design 3D printing. Part of this trend is taking control of your finances,” said Beth Kurth, President, Corporate Forum. “When people take an active interest in investing, there’s a virtuous feedback loop. It’s like a diet only in reverse. With a diet you’re motivated to eat less when the scale shows fewer pounds. With savings you’re incented to put away more as you see your investments grow.”

There are plenty of reasons for Americans to allot more of their money toward retirement. About one of every four Americans will have to work until age 80 in order to retire with enough money, and the number of employers offering retirement funding plans for their workers has decreased significantly over the last decade.

Plenty of challenges and hurdles to saving for retirement exist as well, however — including most people’s preference of instant gratification over investing toward a long-term goal like a retirement.

With any system, there are people trying to game it. This was the case for Philadelphia chiropractor Lawrence S. Herman, who has been sentenced to five months in prison because of a falsely submitted personal insurance claim.

While fraud only comprises a small percentage of submitted insurance claims, they can be costly, and unfairly burden everyone else who relies on their insurance to cover them when something bad happens. Every year, scam insurance claims for auto injuries add up to about $5 billion.

Herman was in an accident back in 2012, and submitted a claim for injuries. As evidence, Herman showed that he had received chiropractic treatment for injuries to his neck and back. His insurance company, the U.S. Automobile Association, originally denied his claim. Herman then hired a lawyer and sued the company for $60,000.

Prosecutors, though, weren’t buying his story. They pointed out that the accident which supposedly caused the ongoing injuries was a “minor, fender-bender type accident” and that Herman was running multiple marathons at the same time he was supposedly recovering from, and receiving treatment for back injuries.

Herman finally admitted during his guilty plea hearing that he had fabricated his injury, and that he had never received treatment. Instead, he had, allegedly, told an employee of his practice to create the medical records and then submit them using fake company letterhead.

The prosecutors were also not impressed that Herman continually tried to shift the blame for his crime, first accusing his personal injury lawyers who drafted the insurance settlement demand, and then the employee who he had asked to falsify the records.

“Personal stresses, provided by work pressures and economic circumstances resulting from the divorce, weakened Mr. Herman’s judgment and contributed to precipitating the infraction,” said Michael McCarrie, Herman’s lawyer, in a memorandum for the court.

In today’s investment market, there’s no real reason to keep junk bonds in your portfolio.

Or so says one June 26 USA Today article.

“There really are very few happy outcomes from junk bond funds right now,” the article advises.

Currently, investors across America have a collective $326 billion in junk bonds, otherwise known as high-yield bonds.

But why are junk bonds so dangerous right now?

A junk bond is essentially a long-term loan that an investor gives to a company with a bad credit rating. And because companies with bad credit have to pay higher interest rates for loans, a junk bond can, in many cases, be a financially sound investment to add to one’s portfolio.

However, USA Today reports, prices for high-yield bonds are at an all-time high right now, which means yields for these bonds are at all-time lows. In late June, the Barclays Capital High-Yield Index yielded a mere 4.83% — the lowest yield recorded for junk bonds in history.

Yields could technically rise again — but it’s not worth the risk to keep junk bonds in one’s portfolio. USA Today reports that yields this low, in a worst-case scenario, could cause another financial meltdown like the one of 2007-2008.

So, to protect your finances from going under if junk bonds continue to produce record-low yields, it’s best to sell them while you can. This is especially true for male investors, as studies have shown that 61% of men who wait too long to sell off a bad investment will repeat their mistake, compared to 48% of women.

And if you had been thinking of investing in a junk bond for the first time, it may be a good idea to wait a while.