Helping Children With A Home Purchase US Economy
On this episode of the Planned Solutions Incorporated Podcast, With interest rates near record lows, many parents are wondering how they can help their adult children purchase a home to take advantage of low mortgage rates. This decision comes with a number of important considerations as there are several different ways that a deal can be structured each with their own pros and cons. Therefore, it is important to understand the tax, gifting, and lending rules that apply to determine the best structure before committing to a purchase. And, The US economy contracted sharply in the first quarter due to economic restrictions related to the Coronavirus. Not surprisingly the bulk of the decline came from a decrease in household spending on services and business investment in equipment. However, investment in residential structures increased. Government spending was flat as a large portion of the economic stimulus was not implemented until the send quarter. Also,Banks and other lenders have reported tightening credit standards as the US suffers the economic impact of the Corona-virus. This means banks are less willing to make mortgage and consumer loans which may make it more difficult for some borrowers to qualify for a loan. Meanwhile, household demand for mortgage loans has remained strong while demand for consumer loans has decreased sharply, led by a decrease in demand for auto loans. Plus a look at the Planned Solutions Incorporated Office Bulletin Board-Planned Solutions is learning how to keep up our continuing education and investment due diligence in this new social distancing environment. In other words, we are doing the same things that we have done in the past but finding a way to do them remotely. Recently, Chase decided to put these topics in writing. The project started as a series of white papers on various financial planning topics but morphed into a book. After years of work, Chase recently published Financial Planning Insights. This book contains a series of 50 short chapters each focusing on different financial planning topics that may help individuals make more informed financial decisions. Financial Planning Insights is now available at: https://store.bookbaby.com/book/financial-planning-insights https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279/ref=sr_1_1?dchild=1&keywords=chase+armer&qid=1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc. ADDRESS: PHONE: 1130 Iron Point Road, Suite 170 (916) 361-0100 Folsom, CA 95630 (800) 750-2111 E-MAIL: FAX: Shannon@PlannedSolutions.com (916) 361-0191 WEB SITE: www.PlannedSolutions.com #finance #invest #investment #stocks #inflation #deflation #bonds