I found out two weeks ago that a friend bought not just one but three houses this pandemic. Yes, he has a high-paying Wall Street job. Yes, he is worried about inflation. Yes he knows he is incredibly fortunate. And oh yes, I immediately flicked my thumb to Zillow after hearing about his property purchases, because I was feeling pretty jealous.
There’s no way I can afford to buy three houses right now. (Or maybe ever.) But I have been wondering about where I might be able to invest in real estate in some way. That is why I was so thrilled to read this piece on where to buy investment property now, by Bloomberg Opinion’s Alexis Leondis.
Alexis breaks it down, offering suggestions on which cities make sense right now for people who want to buy homes and rent them out. (She also points out which city to avoid.)
Any of my fellow real-estate junkies will get a kick out of the piece. One takeaway that surprised me: investing in property close to home may not be the best idea. Think about metrics, she writes. These include property prices, rental trends and even local landlord legislation.
This week we also wrote about a different investment trend: Black Americans are actually more receptive to holding cryptocurrencies than other groups in the U.S. A new Harris Poll found that 30% of Black and 27% Hispanic investors own cryptocurrency, compared with just 17% of White investors.
This pleases a new generation of Black financial advocates who think it’s going to take a lot more than budgeting and saving to shrink the staggering U.S. wealth gap. But bolder steps — including crypto — come with risks. — Charlie Wells