Post-Election Aftermath: Stock Market Boom, Bond Market Bust Overshadowed by all the political fallout the last week is the election’s effect on interest rates: up, quickly. According to Edina Mortgage’s Steve Mohabir, subsequent to the election, interest rates for a 30-year mortgage for well-qualified borrowers jumped a huge (“Yuge??“) 50 basis points, from 3.5% to over...Read More
2016 Presidential Election Aftermath Investors just got handed a classic lesson in not trying to anticipate “macro” events like elections: –Number of experts predicting Trump win: < 10 (anywhere on the planet. Maybe). –Number of experts predicting markets would go UP after Trump win: 0. Of course, it’s too soon to know whether markets will...Read More
New Inspection Contingency Timetable for Minnesota Home Buyers, Sellers [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. If you need legal advice, please consult an attorney.] The answer to the question, “when does 5+2+1 = 10?,” is, “when...Read More
Needed to Rejuvenate Politics: Young Blood (and Shorter Podiums) We won’t know until later tomorrow night (hopefully) who the next U.S. President will be. But, I’ve got an early favorite for the 2040 President ticket: my son Gabriel Kaplan, and his 8th grade classmate, Aviv Dahan. That’s when they’ll both be 35+ — and constitutionally eligible...Read More
A first showing is pretty straightforward: it’s when a prospective Buyer, accompanied by their agent, views a “For Sale” home. Ergo, a second showing is when the Buyer likes it, and doubles back for a closer look (sometimes with friends, relatives and/or a contractor buddy in tow). So, what’s a “sort-of-second showing”? (my term). When...Read More
Updating John-Paul Sartre’s “No Exit” “On eve of election, deep divide.” –Headline, Star Tribune (11/6/2016) Everywhere you look, assorted pundits and talking heads are lamenting how polarized the electorate has become, and how futile any attempts to unify it are. Not me. I know a surefire way to unite the country. Ready? Here goes: Jail BOTH Hillary...Read More
