The Daily Money: Canada cools on American real estate
The Daily Money: Canada cools on American real estate
Good morning! It's Daniel de Visé with your Daily Money.
Belligerent rhetoric from the White House and combative trade negotiations are denting Canadian interest in owning American property, just as the housing market south of their shared border is starting to cool.
Canadians made up the biggest share of foreign buyers of U.S. residential real estate in 2024. But now, their interest seems to be waning.
Being openly gay, trans or nonbinary at work just got tougher
Five years ago, a technology executive landed a seat on the board of directors of a big corporation. As a person of color who identifies as nonbinary, they were thrilled: Their new company not only embraced their professional credentials, it touted their gender identity, as well.
But with attacks on diversity, equity and inclusion spiking as a polarized nation hurtled toward the 2024 election, corporations retreated from public expressions of support for gay, transgender and nonbinary rights. Suddenly, their company did not seem so proud.
After years of civil rights advances and hard-fought wins in the workplace, being openly gay, trans or nonbinary in corporate America just got tougher – especially at the top.
Juneteenth faces a DEI backlash
As protests against racial injustice gripped the nation in 2020, major corporations rushed to observe Juneteenth and give their employees the day off.
Five years later, they are still commemorating the holiday, but not with the same fanfare.
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Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.
Daniel de Visé covers personal finance for USA Today.
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The new American dream? Buying and renting out vacation homes in Italy.
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So when when her husband asked her if she'd ever thought about them living in Italy part-time, she jumped at the opportunity to make it work. The DeRius sold their rental property in North Carolina with the plan of buying a property in Italy they could rent out part of the year and enjoy themselves the rest of the time. In July 2024, they closed on a three-bedroom apartment in Alghero, Sardinia, for €405,000, which was about $440,883 at the time. So far, business has been booming. "It's renting out very quickly," DeRiu said, estimating that they had about 70% of the property's availabilty booked within five days. Now, the DeRius are making their Italian dreams a reality, at least for part of the year. And they're making money doing it. Managing property outside of your primary residence is quickly becoming a key part of making the American dream work. But some Americans like the DeRius are finding it easier to realize that dream in Italy — with the added bonus of getting guaranteed lodging on their next vacation. DeRiu said she tries to split her time between Connecticut and Alghero, ideally staying in Italy from November through May while her guests enjoy the high season during the summer. She employed Italian Real Estate Lawyers, an Italian firm that helps Americans with Italian citizenship and also offers real estate services, to help facilitate the purchase. Attorney for Italian Real Estate Lawyers Marco Permunian said he's seen an uptick in Americans like DeRiu buying property in Italy. "Over the past 12 years, we have seen a steady increase every year with some spikes that we have seen in connection with concerns regarding politics and social events," he told BI, citing a 15% increase in Americans using his services in 2024 compared to 2023. Though he doesn't ask his clients why they're considering Italy, he noted that the price of homes has to be a large factor. "We have clients, for example, from the state of California, or New York, or Pennsylvania, and to buy a house there, it costs several hundreds of thousands of dollars," Permunian said. "In Italy, especially in central and southern Italy, the cost of a property is a fraction of that. So that also helps Americans make the decision to buy." Some towns in Italy offer homes for as little as €1 — though renovations are likely necessary. And small towns like Ollolai, a small municipality in Sardinia, are specifically targeting Americans to buy homes. Melina Manasse and her husband closed on a one-bedroom home in October 2024 in Lecce, a historic city in the heel of Italy's boot. Manasse, 46, paid $278,000 for her property. Since it was already renovated, she was able to list it by March 2025. Bookings have already started, and she's expecting to make over $3,000 a month. For Manasse, the Italian home is part of a larger plan to prioritize enjoyment when choosing her investments. She owns property in Antigua and England and envisions eventually being able to bounce from country to country without paying for lodging. "This was a strategic decision to invest in Antigua, which is really popular in the winter months, and then have Lecce, which is really popular in the summer months, and then to have a long-term rental in England, which is 30 minutes by train from London," she said. "We will probably spend two to three months in one, bounce, bounce, bounce, and then you're living net zero," she added. "So they're all paying for themselves." "We will probably spend two to three months in one, bounce, bounce, bounce, and then you're living net zero," she added. "So they're all paying for themselves." 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They've found that in their region, by Lake Iseo, units rent for €100 per night on average, and they're hoping for 50% occupancy throughout the year. They'd been looking to buy a condo in DC for a while, but Beigle couldn't wrap her head around the prices she was seeing. Italy offered an invigorating alternative. "My advice is: think outside the box a little bit," she said. "The traditional save up your money, put a down payment in and have a 30-year mortgage, and just continue the rat race is outdated in my opinion." The journey of buying and renovating a home overseas hasn't been easy, but Beigle said it was the right choice for her. "I couldn't be happier," she said. "And I feel really motivated to spread that message, too." Read the original article on Business Insider Sign in to access your portfolio
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The Smartest High-Yield Stocks to Buy With $1,000 Right Now
Dividend investors are saddled with a market that offers a paltry 1.2% dividend yield on the S&P 500. Brookfield Asset Management has a 3.2% yield and is projecting strong dividend growth ahead. Realty Income has a 5.6% yield and a three-decade-long history of reliably growing its dividend. 10 stocks we like better than Realty Income › If you're a dividend investor and have $1,000 to invest, it can be pretty depressing right now. The reason is that the S&P 500 index has an itty-bitty yield of 1.2% today. This suggests that the market is expensive and, in turn, it could be hard to find attractive dividend stocks. Don't give up -- there are smart high-yield stocks out there. Here are two attractive options. Brookfield Asset Management (NYSE: BAM) has an attractive 3.2% dividend yield. But a yield that's well over twice the size of the market's yield isn't actually the big attraction here. The reason to buy this Canadian asset manager is its dividend growth. 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US Federal Reserve holds interest rates steady
The US Federal Reserve held interest rates steady today as it weighs the broader fallout from Washington's trade war and a burgeoning conflict in the Middle East. The central bank's balancing act is a difficult one: Whereas many of its counterparts worldwide are embarking on a rate-cutting path to ward off slowing growth and rising prices as a result of American protectionism, economists expect US growth to slow but inflation to quicken, a combination that leaves no clear path for monetary policy. Though price rises in the US have so far been mild, inflation expectations — simply, the belief that prices may increase — are a worry, and often cause real-world inflation, The Wall Street Journal's chief economics correspondent noted. — Prashant Rao Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
