The PIN Magazine December 2016

December 2016 Vol. 03 | Issue 12

IN THIS ISSUE: • TRUMP’S ADMINISTRATION: HOW THIS NEW REGIME IS LIKELY TO AFFECT REAL ESTATE INDUSTRY AND THE ECONOMY • CIT GROUP ACCUSED OF REDLINING AND VIOLATING FAIR HOUSING ACT • REAL ESTATE FOCUS: FAIRFIELD

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Eric Lawrence Frazier, MBA President and CEO Office: (800) 401-8994 Ext. 703 Direct: (714) 361-2105 Eric.Frazier@ThePowerIsNow.com www.thepowerisnow.com www.blogtalkradio.com/thepowerisnow

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REAL ESTATE

EDITORIAL TEAM Eric Lawrence Frazier MBA Editor in Chief (800) 401-8994 Ext. 703 Goldy Ponce Arratia Managing Editor Graphic Artist and Design Manager (800) 401-8994 ext. 711 goldy.ponce@thepowerisnow.com Andrej Jovanovic Graphic Designer (800) 401-8994 ext. 713 andrej.jovanovic@thepowerisnow.com Himanshu Haiswal Director of Technology (800) 401-8994 ext. 727 technology.support@thepowerisnow.com Scocrates Ayala Online Radio & Media Manager (800) 401-8994 ext. 709 socrates.ayala@thepowerisnow.com

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CEO & Publisher Eric Lawrence Frazier, MBA 3739 6th Street, Riverside, CA 921506 Ph: (800) 401-8994 ext. 703 EDITORIAL Editor in Chief: Eric Lawrence Frazier MBA Managing Editor: Goldy Ponce ONLINE Web Designer: Himanshu Haiswal

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DESIGN Art Director & Design Manager: Goldy Ponce, PUBLICATION AND SERVICES Andrej Jovanovic The PIN Magazine The Power Is Now Radio ADMINISTRATIVE The Power Is Now Publications Administrative Assistant: Kendra Gedeon The Power Is Now Radio Guide The Power Is Now VIP Agent Program The Power Is Now Power Consulting/Coaching The Power Is Now Association Management The Power Is Now Event Management STATEMENT OF COPYRIGHT: The PIN Magazine™ is owned and published electronically by The Power Is Now, Inc. Copyright 2013-2016 The Power Is Now Inc. All rights reserved.

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In This

Issue...

FINANCIAL 12. How to Find and Buy Off-Market

Homes

14. What to Consider Before Renting

Out Your House 18. Housing Market Escalades Swiftly as

20.

the On Start of a New Regime Gains Power What the Future Holds for the U.S. Economy

REAL ESTATE 24.

26.

28.

32.

36.

Market Analysis and Performance of Real Estate Industry in Colton San Bernardino Counties of CA. Home Sales Contoninue to Grow Significantly Real Estate Focus: Fairfield Real Venture for Women in Real Estate Why is Diversity Classification Important for Real Estate Businesses?

MORTGAGE 40. Getting a Mortgage in Your 20’s 44. Getting Mortgage for Non US Citizens

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ON THE COVER

COMMUNITY 54. Water Scarcity, It’s Threats and What it Means for the World

ECONOMY 50.

54.

62.

CIT Group Accused of Redlining and Violating Fair Housing Act California Reinvestment Coalition Responds to Steve Mnuchin’s Likely Nomination for Treasury Secretary Governor Jerome H. Powell at the Economic Club of Indiana

GREEN 72. Taking a Plunge Into the Real Estate While Making Sure that the Environment Stays Green

TECHNOLOGY 78.

82.

Technology and Its Bright Fture for the City of Riverside How Technology is Changing the Real Estate Industry and the role of Real Estate Agents

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From the Editor...

To our valued readers, The final month of 2016 is upon us, as the excitement of the holiday season is nipping at our heels. Emerging from one of the most trying elections in American history we brace, as well as embrace, for what is to come. As President elect Donald Trump begins his term to rule the free world with his administration, we wait patiently to see his policies, plans and agenda that can largely affect us as Americans. Although, one of the bigger issues lies in the violation of the Fair Housing Act by One West Bank, which has become a serious issue for minorities.

The housing forecast may seem unsure but the future is bright, and 2017 is going to be an extraordinary year here at the Power Is Now. We believe that change is good, no matter what the circumstances may be. We believe in waking each day to create the life you deserve. This can be accomplished with the right tools and expert knowledge at your fingertips.

In this December issue of The PIN Magazine, we have a variety of articles that will educate, motivate and inspire. Our way of getting you ready for the New Year to come. Are you a woman who is thinking to start a career in Real Estate? You will learn first hand from the top female Real Estate producers.

How about a Real Estate investor looking to learn just how technology is changing the Real Estate World? These and more are the topics we will be discussing in this months issue.

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We also added a “must read” speech by Governor Powell on the recent economics developments and long-run Challenges, as well as a quick reflection on the water scarcity in our community section.

I am excited to bring you interesting and useful information to aid you in your Real Estate journey. Look at me as your personal coach. We, at The Power Is Now, invite you to join us online as we support your continuous education towards your Real Estate Career. We have the honor of bringing you a new radio show with our weekly special guest, an upcoming TV talk series and our thought-provoking blog.

None of this would be possible without the continuous hard work and dedication of my team at The Power Is Now. I would also like to take a moment to thank our readers for your continued dedication to the magazine. We would be nothing without you. The Power Is Now team is dedicated to bringing you nothing but the best.

I love this time of the year. To me, Christmas is not only a time to give to the ones you love, but to reflect on the year that has passed as you prepare for the best in the months to come. Let’s succeed together.

Lastly, I am happy to be able to share the Frazier Family CD as a special gift to you. From my family to yours, have a blessed filled holiday. Merry Christmas and Happy New Year!

Eric Lawrence Frazie MBA Editor-in-Chief

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Willie Wilcox Cal BRE # 01396837 NMLS # 887943

SPECIALIZING IN: • Real Estate Sales • Lending & Financing

Helping Families Make the Right Move Relationship Manager

Realtor | Northern California E-mail: willie.wilcox@thepowerisnow.com Website: www.thepowerisnow.com Office: 800-401-8994 x 728 Direct: 510-915-5107

FINANCIAL

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FINANCIAL

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FINANCIAL

HOUSING MARKET ESCALADES SWIFTLY AS THE ON START OF A NEW REGIME GAINS POWER Basing our arguments on the ended election campaigns, there were a lot of promises made by the candidates. With Trump, economy would improve greatly and better living standards for all the Americans.

what does this translate to? A very big surge in the bond market causing a huge fallout of this market. That is not all, different lenders have pulled out also. If you look at the trend, there are so many different lenders who have moved down with quite a significant amount. Averagely, this is With the rise of the new regime in power, things close to about 0.25%. just got worse in the housing market. Financial reaction in the mortgage rates changed swiftly This according to many might not be much and over the past weeks. This is not what most people in fact if you look at the increase over the past would expect, however, it is already happening. few weeks, it is about $28, this however is for an average person buying a house valued over The worst case scenario $150,000.

Name it the irony of year! With the rise of the new president in power, the financial market is seen to slowly decline and with regards to housing market, this may be the worst nightmare. The living standard of most Americans is expected to be falling to somewhat affordable but looking at the current trend and with the few days the president has been in the power, this may be a big day dream.

The implication of this nightmare is mortgage rates will increase, if you want to buy a home at the same price or rate, it means that you will have to add an extra of

Most of the investors in the market have pulled out of bond market a n d

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that,

more than $3800. That is what all this means.

affordability of the houses in most of the U.S states weakened. Looking at this scenario, the And before levelling… banks could loosen their lending standards. This would eventually lead to the lowering of the The rise in the mortgage rates means that quite a credits scores that are required to qualify for a significant portion of the residents might not be mortgage loan. However, this is only at short term able to get hold of the loans because of the debt- basis. This would raise the mortgage lending. income disparity. Before the rates begin to level again, the rates are expected to escalate even to Overall effect of this trend as far as mortgage higher levels. Therefore, for most of the people lending is concerned and investor expecting to get something out of the financial market, this might be a dream that will The American dream- homeownership, could be take time to come true. sabotaged. That is the general effect that we have to face. Higher demand for the homes could lead Housing affordability to home prices rising steadily. This means that some years to come, if this is not controlled, some people would be struggling to get the mortgage loan. This was according to Matthew Pointon. “…loosening the lending standards can lead to dangerous housing and credit bubbles which can cause real damage when they eventually pop” - Matthew Pointon.

Let’s now take time to analyze the housing affordability in the U.S markets. Well the general trend is that the affordability is already weakening.

This is largely contributed by the rising prices of the houses, which is escalating at a very high rate.

According to the National Association of Home Builders, between the month of July and September the houses that were affordable to families in the U.S earning an average of $ 65,000 were represented by a 61.4%. with the new regime, this percentage has gone down from 62% which was recorded in the first quarter.

Despite the lower rates of the mortgages, the

In republican states of the U.S, home-buyers are confident that the housing market will improve, this is due to the rise in the demand. Homebuyers in the democratic states, which we all know perform well, would be discouraged and thus make less big purchases. This was according to Ralph McLaughlin.

Final remarks There could be disruptions in the financial market.

With the new regime in power, the financial market could have a two-way escalation reacting inversely both in the democratic and republican states. If the impact is big on the financial market, the impact could go beyond the seasonal decline.

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FINANCIAL

WHAT THE FUTURE HOLDS

FOR THE U.S ECONOMY?

S

tanley Fischer, Vice chairman, Board of Governors of the Federal Reserve and Former Governor, Bank of Israel, discusses on the future of the U.S economy with respect to the monetary policies, inflation rate, and the Federal Reserve’s outlook on the U.S Economy.

percent, which is likely close to its long-run sustainable level.” Says Fischer

The struggle that had presented itself during the first quarter of the year, is slowly dwindling away. The GDP of the country is now at a steady rate. Basically, with the GDP rising at a steady rate, the U.S economy is expected to perform Over the past year, we have seen the U.S economy even better than before. Adding that inflation making huge progresses and even performing is declining, the economy outlives the desired better compared to other years. Despite the targets. challenges that have presented themselves in the course of the year, the economy is on the “After running at a subdued pace during the threshold of doing even great in the years to first half of the year, gross domestic product come. growth has picked up in the most recent data, and inflation has been firming towards the Fed’s “…the U.S. economy is performing reasonably 2 percent target.” well. Job gains have been robust in recent years, and the unemployment rate has declined to 4.9 However, take note of these issues…

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Despite the hail over the economy, it has not that been easy and it will not be easy either. There are some challenges that have prevailed in so far as the performance of the economy is at question.

In most of the areas, the economy has performed better but in some areas we cannot just cover our eyes blindly and take things for granted. Here is what Fischer says “But although the economy has moved back to the vicinity of the Committee’s employment and inflation targets, along some dimensions this has not been a happy recovery.”

“On interest rates, the federal funds rate and policy rates in other advanced economies remain very low, and in some countries negative…” low interest rates make the economy more vulnerable to adverse shocks by constraining the ability of monetary policy to combat recessions using conventional interest-rate policy…

With the low interest rates, coupled with a moderate economic growth rate shows that the equilibrium interest rate has fallen extensively, this is according to Fischer who continues to say Having clear perspective on the goal, Fischer that having low interest rates makes the economy demonstrates the need of being ready and very vulnerable. prepared to come up with some new set of policies that will adequately cater for the Effect of low interest rates on financial stability longer–term challenges that currently have been of the economy the major obstruction. This is what he says, “Unease with the economy reflects a number of longer-term challenges, challenges that will require a different set of policy tools than those used to address cyclical shortfalls in growth.”

Addressing the challenges Presently, two major challenges have proven adamant according to Fischer, these are: 1. Low equilibrium interest rates.

2. Sluggish productivity growth in U.S and abroad.

Still, the low equilibrium interest rates- the rate which neither boosts the economy nor slows the economy- could have a threat to the financial stability of the economy. Fischer continues to argue that the threat could be further imposed through encouraging a reach for yield.

Dealing with these problems first will lead to a positive growth in the economy of the country.

In some advanced economies the interest rates are very low, negative in some other countries.

Presently, this effect has made the growth rate very low while in some other countries and economies, there are huge advancements in as “Also, low equilibrium rates could threaten much as interest rates are on question. financial stability by encouraging a reach for

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FINANCIAL

yield and compressing net interest margins, although it’s important to point out that so far we have not seen much evidence that low rates have notably increased financial vulnerabilities in the U.S. financial system. And more fundamentally, low-equilibrium real interest rates could signal that the economy’s long-run growth prospects are dim” Basically, what is making the interest rates so low according to him is saving which tends to reduce the interest rates while on the other hand, higher demand for investment calls for high interest rates. There are some other factors that have been pulling down the interest rates such as slow foreign economic growth rate, demographics among other factors.

Stan’s view on Productivity Growth Rate

There are a lot of causes for this effect and so many people like to side with the cause that mostly does not point to one specific issue, it’s mis-measured. Well, it would be unrealistic since, computers are everywhere and there is no way it would be mis-measured. Stan continues to argue that capital investment might as well be another factor contributing to the low productivity growth rate. The rate at which large-scale businesses are established and the rate at which small business rate are establishedthe business falloff dynamism is the other factor that has made the productivity growth rate go down. On this issue still, weak demand has had its share in making the productivity growth rate go down.

The final blueprint to deal with these challenges affecting the economy

According to Fischer, there are some certain fiscal policies that could be implemented to bring to the ground the challenges that would affect the U.S economy. A case to mention, are the fiscal policies that will lead to an increase in “Productivity growth over the past decade has productivity. been lackluster by post-World War II standards.

Output per hour increased by 1 ¼ percent per “…. particularly those that increase productivity, year, on average, from 2006 to 2015—that’s 1 ¼ can increase the potential of the economy and percent—compared with its long-run average of help confront some of our longer-term economic 2 ½ percent from 1949 to 2005.” Says Stanley challenges…”

Fischer Long term solution to some of these challenges Well, according to him, this effect has been would be to increase the education standards, reducing the productivity by half and if it infrastructures and may be encouraging private were to persist, then dire consequences were investment. All of these would play out well at to be expected in respect to the standards of increasing the chances of fight off these present living, wage growth and economic policies, he adamant problems. continued to add.

According to him, it is important that getting to understand the recent weakness in productivity will clear the view of what is confronting the U.S economy on a larger scale.

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Israel Garcia REALTOR

Cal BRE # 01929446

SPECIALIZING IN: • Residential Real Estate • Commercial Properties • REO Management & BPO • Short Sale Services • Property Management

Want to Buy, Sell or Rent a Property?

Relationship Manager

Realtor | Rialto California Office: 800-401-8994 ext. 735 Direct: 90-938-4202 E-mail: israel.garcia@thepowerisnow.com Website: thepowerisnowrealestateservices.com/

REAL ESTATE

Market Analysis and Performance of

Real Estate Industry in Colton

C

alifornia is the best place to settle off, but what has been the trend? Rise in the average price of houses. This is one of the trend that has been in the slow recovery for the past six years. Colton, is not an exception. However, home sales are leveling off, to somewhat affordable costs. Despite all the market influences, Colton continues to be amongst the best places one could ever get.

Facing the reality of thing, the great recession period really forced some of the real estate markets down but as of now, Colton is the slow recovery process making lackluster steps and thus boosting the whole economy of California.

of the people. This means that the market has a tendency to attract more customers and thus high sales.

Going by the price per square foot index, Colton register a low leasing rate of about $195 though this is a rise from what was there previously, $175, the market is still very affordable. This in turns translates high probability of commercial real estate from performing well with time.

The median rent per month stands at $1595.

Investment in this region has been given a positive chance to grow. This could translate to high annual income and for investor willing to make higher earnings with time, Colton is the Colton recovery process place to consider. Going with the market trends, the market at this region forms a conducive This has not been easy, but at most, the real environment for real estate market growth. estate industry in the market is getting at the peak. A positive change. Over the past one year, Colton real estate market has indicated a net increase in growth rate by 8%. This translates Performance of real estate market in to about $17500 and the space per square unit in Colton the same market registered a rise from $175 to 195. This is a positive shift and from the market There is a promise hidden in this market. With analysis, it is clear to see that the market has been an annual residential turnover of about 16.63%, recovering slowly by slowly. Giving the market the real estate market has shown quite some time, Colton real estate market is estimated to improvement and as it turns out to be, Colton record a quick recovery figure. real estate market, analyst argue that it will be doing better than there before. Therefore, there is Investing in real estate industry in Colton hope in this market. The market has been doing well only that there has been a slight downfall Colton real estate market is continuously in the overall market analysis from the previous registering a positive growth rate. Generally, quarter, generally, the market is doing better looking at the median sales price of homes in the from what was there in the previous years. area, you will notice that the homes are sold at an approximate value of $250,000. Compared to most other state, this is quite affordable to most december 2016

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Socorro Garcia REALTOR

Cal BRE # 01377130

SPECIALIZING IN: • Residential Real Estate • Commercial Properties • REO Management & BPO • Short Sale Services • Property management

The Realtor you can trust!

Relationship Manager

Broker Manager | Fontana California Office: 800-401-8994 ext. 736 Direct: 909-206-7458 E-mail: socorro.garcia@thepowerisnow.com Website: thepowerisnowrealestateservices.com/

REAL ESTATE

San Bernardino counties of CA

home sales continue to grow significantly

T

his year, the home sales in the counties of San Bernardino in California continue to make great advancement as far as the prices of the home sales are concerned. For seven years, the market has been flat, not making any significant changes but this year alone, there has been a steady increase in the real estate in areas like Fontana county and all the counties in the San Bernardino.

The real estate market in the area is expected to have greater returns in the coming years making investor in the real estate market enjoy stability and security of in the prices of homes in this area. Therefore, going by the current trend in the county of Fontana, there are greater expectations from this industry.

Despite the market forces in the region, real estate market has shown potential for growth The median sale prices this year alone recorded and therefore, without any doubt, investors have one of the best shift in the real estate market a reason enough to smile. across Southern California. Stability in rising prices of homes in the Riverside counties has Median Home price value in Fontana recorded a significant stability in sales activity and rising prices.

The trend in the real estate market, analysis of the home sales in Fontana, experts argue that Fontana in particular is a county that has been this trend might push even to next year. performing well as far as real estate is concerned.

Basing from what had been witnessed for seven There are so many contributing factors that years, the market has a high likelihood of has led to the positive growth in real estate performing even better in the near future. industry in this region. The market analysis and december 2016

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I think 2016 is going to be another good year, a lot of good things are happening in our region -Randall Lewis

More people will be influenced to put their homes in the market and thus promoting real estate in the region, Lewis continued to say. The effect of this in turn is greater consumer confidence and promoted economic benefits.

performance of the region shows that in Fontana alone, the home prices have nearly recovered and going to the peak. Something that has not been Residential market in the region will still stay there before. Going by the current statistics, the stable, rentals and apartments market is one of median home price stands at $295,000. the market contributing to high performance of real estate in the region and will remain that way Making a comparison with counties like the Los making a good rental income.

Angeles, the median price stands at $523,000, and orange county, the median home price stands The retail market performance in the region at $695,000. If you are keen enough, you will notice that Fontana is not too far behind. Since As far as real estate market in the region is the trend is not expected to be stagnant again, concerned, this is one of the areas where there the price level might rise into something much has been a complete turnover. New stores each more worthwhile. day are entering the market while a significant portion of the same are closing down. However, The effect of the recovery process for the real going by the trend, that need not to taken estate in Fontana negatively, this is because, the numerous stores in the area continue to expand daily.

More people are expected to flow into the county if the trend continues like that. The difference in Conclusion median home prices in other counties is rising at a steady rate. This means that in search of better The market is doing quite well compared to what houses at a low price, consumers will be forced was there in the previous years. If the market to migrate southwards, making the real estate in continues to bear good results, there is hope for the San Bernardino counties grow at steady rate. most of the real estate brokers and landlords.

The recovery process is one of the factors that If the market stays undisturbed, the trend is is expected to promote the real in the county. expected to push also to the next year.

REAL ESTATE

REAL ESTATE FOCUS: FAIRFIELD, CALIFORNIA

C

ould Fairfield, CA be your next home?

A city of splendor located in the Solano country of California, U.S.A. basically, the location of this sensational city is one thing that would make you as a real estate agent want to invest here because it is located or generally considered to the midpoint of two wonderful cities, San Francisco and Sacramento.

by lynell holden Fairfield, CA home prices trends The real estate industry in Fairfield, CA indicated an increment of 9% representing a total of $ 32, 500 in median home sales this year alone.

Looking at the average rise in price per a square foot, there is a fair gain since this year alone, the figure rose from $ 195 to $ 219.

Fairfield is the home to the Travis Air force base. Another factor that contributes to the great performance of most industries in this region, not forgetting real estate industry. According to the 2010 national census, the city registered a total of 108,321 people, which is slightly lower compared to the Vallejo city.

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Take a look at the following table:

Going by the trend of all the properties (that includes 1,2,3,4 bedroom houses), there is quite a significant increase over the past 5 years. take a look at the following data.

The number of home sales This is a state that has been experiencing fluctuation in total home sales over the last five-year period. In December 2011, the number of homes that were registered as sold were 365 homes. In June 2016, the total number of homes sold were 363. However, judging by the figures above, you might be tempted to think that this figure is almost constant but it is not. In the last quarter of the year 2013, the total number of homes registered as sold were 209 while in last quarter of 2015, the total home sold were 444. Therefore, the figure is not that constant. From 363, the number of homes registered to be sold as per the month of June this year, the number could be declining slowly. This means that people are developing a liking to this region.

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REAL ESTATE

All properties rental record in high foreclosure of homes in region, well it is a factor Fairfield, CA. well, mortgage selling the region out to many Fairfield, CA

potential investors. Therefore, as a real estate agent looking for a place for development, then this is the region and again the presence of the Travis Air force base makes it a cool place for development.

This represent the median rental income over the past 11 months. Well, it is a figure that has been fluctuating over time.

Foreclosure of homes in the states Dealing with the foreclosure is a hustle that is to be expected in Fairfield, CA and not only in this region, but also in so many other states in the U.S.

Therefore, your question, could Fairfield, CA be your next home? Is answered. Take time to go through the properties that you could basically get in Fairfield because, you will delinquency is a condition that realize that you will be spoilt happens when the homeowners for choice. Whether it is a 1 fail to pay up mortgage loans. or 4-bedroom house, you will get it right where you want it.

What favors real estate Whether you need a home with industry in Fairfield, CA a swimming pool or the one that doesn’t have one, then let There are a number of factors Fairfield be your first option. that have promoted real estate in this region. Presence of schools in this region that offer standard education is one of the factors that the real estate agents have ______________________________ tried to exploit. There exist both the private and the public Lynell Holden schools and therefore, it is a Office: 707-273-1225 win to win situation for parents Direct: 707-208-6897 who do not want to take their E-fax: 510-280-7240 children to primary schools and Email: Lholden95@yahoo.com those parents who do not want Website: www.holdenhomes4u.com to take their children to private schools.

In Fairfield alone the number of homes foreclosed is approximately over 1.15 per 10,000 square foot which is way beyond that of the nation, 0.7 and that of the neighboring city, Vallejo, 1.0.

Factors such as mortgage delinquency are all summing up and contributing to the Relative peace exists in this

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REAL ESTATE

Real Venture for Women

IN REAL ESTATE

T

he real estate market started in England and America hugely after the end of World War II in 1945, but was in business from 1794 and became a legitimate business in the 1840s. But the rise in the industry was after “The Nixon Shock� of 1971.

After the Baby Boom at the end of World War II, the women usually stayed at home, and if some of them worked, they were mainly at nursing and teaching profession. That lead to the unequal

december 2016

ownership of the property around the globe.

In a study by World Bank in 2012, out of total property, average of only 1 percent was owned by the women. This report shows the poor participation of women in real estate around the world. Some countries have tried many law changes for increasing the women involvement in the ownership of land and house by deducting taxes for them and providing many benefits and the changes in some participation are now

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commercial real estate has approved women as equal colleagues and competitors for the market.

Why is real estate such a great career for women?

1. It has more freedom.

Being their own boss, real estate agents create their own schedule which can fit their agenda comfortably gi ving them more freedom. This is a good thing for many women because they can adjust their time to fit the amount of work they have. It can be a challenge though for others who are not disciplined. Work ethics like making yourself work hard is an important factor to create a business as a real estate agent.

Realtors have to have a good rapport with their broker, for example, there should be a set time to deliberate on any emerging issues affecting their business. Even when they are their own broker, discipline should be essential. The realtor is usually self-employed as the contractor for the real estate office. That implies they make their own schedule, they give themselves to leave, they make time for the family. They can also work from home which is a great plus for women.

2. It is a great way of keeping in shape.

An anonymous realtor I spoke to once hosted four open houses continuously on the same day. She had to walk from house to house pitching “Open House” boards all over the neighbourhood. starting to be seen.

Bonus: People compliment her all the time about how great she looks for her age, and she doesn’t Even though women used to be clerks and have to visit the doctor! Let’s be honest, most officers in the real estate business, they slowly women like to be in good shape, don’t they? took up agency and brokerage roles. While real estate has been a no-go zone for women in that 3. Real estate is practically a “helping” it has been a male- dominated industry, the same profession. has now become the opposite.

Most women have a nurturing spirit so they can perceive one’s needs and guide property buyers Professional women are quickly penetrating and sellers in the difficult decision making. into the commission career domain contrary to the past. There are signs that the industry of

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Why do women make great realtors?

1. Women are great multitaskers.

Not dismissing male realtors’ qualifications, a deal brokered by a woman can be distinct since they emanate from a diverse set of skills.

More often with an edge over their male counterparts, women have been proven to be excellent multi-taskers.

2. Support from their male counterparts

Many feel that real estate brokerage is a good career choice despite how they came into the industry. However, we cannot dispute the fact that most female realtors Women Realtors have these skills hence they were offered emotional support by their male can build important relationships with customers and colleagues. It’s the same relationships that colleagues. turn a broker’s career into a satisfying one: emotionally and monetarily.

3. Women stand out The complicated, diversified work; adaptability; independence and capability to define their own However, there may be challenges in penetrating paths all account to women realtors. Being a the commercial real estate industry for example compensation. Not everyone can commit woman is even more conspicuous. to working for commissions. Both men and women are tested. Nonetheless, women do well 4. Women are great team players.

It is agreed that female counterparts bring in residential real estate largely. They are also crowning skills and style and they are more active in industrial sales and commission.

compassionate. In commercial real estate, team playing is essential. Most times a client’s As the industry becomes more professional, decision-making team incorporates a woman hard work and respect are successful brokers’ who would be more comfortable in the presence attributes. of another woman.

In the nutshell, it is the commercial real estate industry’s obligation to reach out to upcoming 5. Excellent communication skills business women, informing them of good 6. Ability to inspire trust 7. Power to remain calm during a crisis opportunities which are available. They should 8. Ability to give and receive objective also support new brokers as they try to fit into the real estate market. This can be by offering feedback financial and emotional support. Otherwise, real 9. Sensitivity and maturity estate has a future for women realtors. december 2016

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REAL ESTATE

Why is Diversity Classification Important for Real Estate Businesses?

As a business owner, you’re always searching for new ways to develop your business. A new lead, a new client, a change in marketing strategy can all mean the difference between a period of growth and security or one of struggle and uncertainty. In our competitive business world, you must remain aware of all factors that can give your business a leg up on the competition.

B

usiness classifications and certifications are powerful tools through which to enhance your business’s performance and bottom-line profits. By certifying, you can give your business an advantage in the contract bidding process, maximize your appeal to companies with a strong corporate social responsibility, cement your presence in the diversity and inclusion (D&I) space and much more.

With the establishment of the Office(s) of Minority and Women Inclusion (OMWI) by Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, federal agencies are responsible for practicing D&I in their employment activities and increasing supplier diversity by raising the utilization of diverse businesses in the procurement process.

This means business and contracting opportunities for women-owned businesses, The entities looking to do business with diverse minority-owned businesses, service-disabled firms are wide-ranging, from public utility veteran-owned businesses, small businesses and companies and school districts to Local, State more. and Federal agencies. Your business’s expertise and service can get you through the door, but These business avenues are great news for diversity certification will bring you there. women-owned small businesses, which are prone to financial strain and disparity resulting from

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imbalanced contracting and funding options.

○○ Small Disadvantaged Businesses (SDB) were awarded 10.06 percent ($35.4 billion) of small business eligible contracts.

• The Census Bureau estimates that 88 percent of women-owned businesses fall short of generating $100,000 in revenue • The Federal Deposit Insurance Corporation • A 2014 Senate Committee report confirms (FDIC) paid contractors $507.2 million in that women are awarded only 16 percent of 2015, including $83.2 million paid to womenconventional small business loans, equivalent owned businesses (WOB) and $142.5 million to a mere 4.4 percent of the total dollar value paid to minority women-owned businesses of all small business loans (MWOB) • The National Women’s Business Council • The FDIC awarded $858.4 million in (NWBC) reports that 91 percent of womencontracts in 2015, of which $104.2 million owned businesses employ no one other than went to women-owned businesses (WOB) the owner. and $211.6 to minority women-owned businesses (MWOB) Although the process of implementing true • The Department of Housing and Urban diversity and inclusion in the American Development (HUD) awarded over $360 workplace has not been easy, progress is taking million to women-owned small businesses place.

• In March 2016, the Small Business Administration (SBA) announced that: ○○ For the first time ever, the federal government exceeded its five percent women’s contracting goal, presently awarding 5.05 percent or $17.8 billion of federal small business contracts to womenowned small businesses ○○ It achieved its 23 percent small business procurement goal for the third year in a row, awarding 25.75 percent ($90.7 billion) of federal contracts to small businesses and supporting 537,000 jobs in the process ○○ Service-Disabled Veteran-Owned Small Businesses (SDVOSBs) received 3.93 percent ($13.8 billion) of federal small business eligible contracts

Here’s the most important part: agencies and entities cannot utilize you based on your diversity if they do not know you exist. The importance and value of certifying your business cannot be overstated.

As the data above elucidates, a variety of leading agencies, with enormous responsibilities and

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REAL ESTATE projects, beckon the assistance of diverse independent contractors from several industries.

These entities possess contracts and set-asides for women-owned, women-owned small businesses and small businesses within several designations. With the ever-growing diversity and inclusion (D&I) movement, a rising number of agencies are dedicating themselves to increasing the utilization of small businesses in the contracting arena.

How can you seize these business avenues?

Preparation, knowledge, experience, superior service and with the help of the government itself.

These opportunities for your diverse businesses, potentially worth millions of dollars, are pivotal.

If you prepare yourself, you could be the next recipient of a million-dollar concrete. Certify your business today!

As a real estate professional, you have to think outside the box in order to thrive in the competitive housing ecosystem. You may not think you are suited or qualified to work with the government, but you may be.

From selling Department of Housing and Urban Development (HUD) homes to becoming an approved corporate vendor, the opportunities for real estate professionals are wide ranging.

Property management alone, an area in which most real estate agents are experienced, makes you a valuable candidate for these government agencies that often require help from businesses to take care of their wealth of properties from acquisition, disposition, buildout and facility maintenance.

Desiree Patno NAWRB CEO and President

MORTGAGE

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Frazier, Eric, Lawrence a CA Mortgage for Brokerage Licensed by the Is State CA BRE andthe is NMLS not affiliated any stateGoortofederal nmlsconsumeraccess.org for verification.

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Eric Lawrence Frazier, MBA is aand California Licensed Loan lender. OurCA corporate is located at: 3739 6th Street Riverside, CA 92501.

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COMMUNITY

WATER SCARCITY, ITS THREATS AND

WHAT IT MEANS FOR THE WORLD It’s hard for the majority of us to envision that clean and safe water is not something that can be underestimated. In any case, in the developing world, finding a dependable source of safe drinkable water is regularly tedious and costly.

The issue of water shortage is a growing one.

As more individuals put continually expanding requests on constrained supplies, the cost and push to manufacture or even keep up access to water will increment. Also, water’s significance to political and social security will just develop with the crisis. Today, almost 1 billion individuals in the developing world don’t have access to it.

However, we underestimate it, we squander it, and we even pay a lot to drink it from minimal plastic bottles.

likely been around in some shape or form since dinosaurs wandered the Earth.

While the measure of freshwater on the planet has remained genuinely steady after some time, constantly reused through the environment and again into our glasses, the populace has detonated. This implies each year rivalry for a spotless, abundant supply of water for drinking, cooking, washing, and supporting life escalates.

Water’s division

Freshwater makes up a little portion of all water on the planet. While almost 70 percent of the world is secured by water, just 2.5 percent of it is new. The rest is saline and sea based. And still, after all that, only 1 percent of our freshwater is Why is there a water shortage? effortlessly available, with a lot of it caught in ice sheets and snowfields. Generally, just 0.007 One might ask why we are experiencing water percent of the planet’s water is accessible to fuel crises. Well the water we drink today has and nourish its more than 7 billion individuals. december 2016

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Because of topography, atmosphere, building, control, and rivalry for assets, a few areas appear to be generally flush with freshwater, while others confront dry season and crippling contamination. In the greater part of the developing world, clean water is either difficult to find or an item that requires relentless work or noteworthy cash to acquire.

of mischief to individuals and economies in the following decade by the World Economic Forum, close by environmental change and mass relocation.

UN and the water crisis

Effects of water shortage

As indicated by the United Nations, water utilizing has developed at more than double the rate of populace increment in the most recent century. By 2025, an expected 1.8 billion individuals will live in regions tormented by water shortage, with 66% of the total populace living in water-focused on areas as a consequence of utilization, development, and environmental change.

Health: In many developing nations, individuals are compelled to drink low quality water from streaming streams, huge numbers of which are sullied. There are many water-borne ailment that individuals kick the bucket of water illness.

Less water likewise implies sewage does not stream, and mosquitoes are different creepy crawlies breed on still (stagnant) filthy water.

The outcome is the savage intestinal sickness and different diseases.

Areas facing water shortage

“If you look at environmental problems, [water scarcity] is certainly the top problem,” said Prof Conditions in Sub-Saharan Africa Arjen Hoekstra, at the University of Twente in the Netherlands and who drove a new research Water is the establishment of life. Furthermore, on water scarcity. still today, all around the globe, many individuals spend their whole days in search of it e.g. in Yemen could come up short on water inside a area like sub-Saharan Africa, time lost while couple of years, yet numerous different spots searching water and experiencing water-borne are living on re-appropriated time as aquifers sicknesses is restricting individuals’ actual are constantly drained, including Pakistan, Iran, potential.

Mexico, and Saudi Arabia.

According to the WWF As indicated by WWF, approximately 1.1 billion individuals overall need access to water, and an aggregate of 2.7 billion discover water rare for no less than one month of the year.

Lack of water or quality water causes tremendous sanitation issues. Centers, neighborhood eateries, open spots of accommodation and numerous different spots are compelled to utilize next to no water for cleaning. This bargains the World Economic Forum and water scarcity: wellbeing of the staff and individuals who utilize In January of 2016, water emergencies were the offices. evaluated as one of three most serious dangers

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Hunger: It takes a ton of water to develop nourishment and nurture creatures. Specialists say that all around, we utilize 70% of our water hotspots for agribusiness and water system, and just 10% on household employments.

Less water implies cultivating and different harvests that need water to develop have bring down yield. It implies cultivate creatures will bite the dust and others won’t do well without water. The outcome is consistent craving and thirst and low personal satisfaction.

Education: It is somewhat difficult to perceive how water and instruction is connected. For some individuals in different parts of the world kids must be up at first light to gather water for the family. They need to stroll for a few miles to get water. The kids get drained and some need to miss school thus. Doing this for a long time take away school times and the cycle proceeds. In different spots young girls are not permitted to go to class by any means, with the goal that they can serve the family by getting water and dealing with other family needs.

december 2016

Poverty: Access to quality water is critical to monetary flourishing and better expectations for everyday comforts. Organizations and schools flourish when individuals come to chip away at time and not need to spend throughout the morning searching for water. Eateries, inns and shopping places need to keep clean to pull in sightseers and remote speculations. Producing exercises, business homesteads, and mining forms all need a considerable measure of water to flourish.

Absence of water means no monetary exercises will happen and the general population will be in steady destitution.

Conclusion: Water is the main thrust of all nature on Earth.

Tragically for our planet, supplies are currently running dry, at a disturbing rate. If the total populace keeps on taking off without the ascent in numbers has not been coordinated by a going with increment in provisions of clean and safe water, we might end up in the middle of a huge global water crisis which has begun to soar.

The outcomes are turned out to be significant.

The test we confront now is the manner by which to successfully save, oversee, and disseminate the water we have.

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ECONOMY

CIT GROUP ACCUSED OF REDLINING AND VIOLATING FAIR HOUSING ACT

CALIFORNIA REINVESTMENT COALITION AND FAIR HOUSING ADVOCATES OF NORTHERN CALIFORNIA FILE FAIR HOUSING COMPLAINT, URGING IMMEDIATE HUD INVESTIGATION INTO CIT GROUP’S ONEWEST BANK

S

absolute terms, low compared to its peer banks, and low when compared to what one would expect, given the size of the Asian American, African American, and Latino populations in California. During 2014 and 2015, OneWest originated exactly two mortgage loans to African American borrowers in its assessment area. OneWest was far more likely to foreclose in communities of color than to make loans available to people in these communities. We call on HUD to fully investigate CIT’s redlining practices and to hold the bank accountable The complaint alleges that OneWest Bank has for its actions and the harm it has caused to violated the Fair Housing Act (FHA) through communities.” redlining practices such as failing to locate branches in communities of color and extending “Our investigation revealed troubling differences very few or no mortgage loans to borrowers of in how OneWest homes maintained their bankcolor. It also alleges OneWest maintained and owned homes (REOs) in predominantly white marketed REO homes in predominantly white neighborhoods vs. neighborhoods of color,” neighborhoods better than in neighborhoods of comments Caroline Peattie, executive director of color.

Fair Housing Advocates of Northern California (formerly Fair Housing of Marin). “The majority The complaint can be downloaded here, and a of OneWest REO homes in communities of color supplemental narrative is available here. looked abandoned, had trash strewn about the yard and boarded up doors and windows, Kevin Stein, deputy director of the California and weren’t clearly marketed as ‘for sale.’ In Reinvestment Coalition, explains: “Our contrast, almost all of OneWest’s REO homes in analysis of OneWest suggests the bank has no white communities were well-maintained, had significant branch presence in communities of manicured lawns, and were clearly marketed as color, and not surprisingly, its home loans to ‘for sale.’” borrowers and communities of color are low in an Francisco, CA, Nov. 17, 2016 Yesterday, two nonprofit organizations formally filed a complaint requesting that the federal Department of Housing and Urban Development (HUD) investigate whether CIT Group violated and continues to violate the Fair Housing Act through its subsidiary, OneWest Bank. In 2014, CIT Group applied to acquire OneWest Bank, and after receiving regulatory approvals, the merger was completed in August, 2015.

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OneWest REO Homes Better Maintained in White Neighborhoods Fair Housing Advocates of Northern California investigated how well OneWest Bank maintains and markets homes after foreclosing on the underlying mortgage- otherwise known as Real Estate Owned (REO) homes. FHANC looked at OneWest REOs in Contra Costa and Solano Counties from April 2014 to May 2016, and found that properties in White communities were generally well maintained and well marketed with manicured lawns, securely locked doors and windows, and attractive, professional, “for sale” signs posted out front. This was not the case for the majority of REOs in communities of color where REO properties were more likely to have trash strewn about the premises, overgrown grass, shrubbery, and weeds, and boarded or broken doors and windows. OneWest REOs in communities of color appear abandoned, blighted, and unappealing to potential homeowners, even though they are located in stable neighborhoods with surrounding homes that are well-maintained.

FHANC found the following patterns based upon its investigation of sixteen REO properties owned by OneWest in Solano and Contra Costa Counties: • 100.0% of the REO properties in communities of color had 5 or more maintenance or marketing deficiencies, while only 33.3% of the REO properties in predominantly White communities had 5 or more deficiencies.

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ECONOMY • 53.8% of the REO properties in communities of color had 10 or more maintenance or marketing deficiencies, while none of the REO properties in predominantly White communities had 10 or more deficiencies.

REO properties in communities of color were far more likely to have certain types of deficiencies or problems than REO properties in predominantly White communities.

Complainant FHANC found significant racial disparities in the majority of the objective factors it measured, including the following: • 61.5% of the REO properties in CONTACT communities of color had substantial amounts of trash on the premises, while none of the REO properties in predominantly White communities had the same problem.

• 61.5% of the REO properties in communities of color had unsecured or broken doors, while none of the REO properties in predominantly White communities had the same problem.

• 61.5% of the REO properties in communities of color had a damaged fence, while none of the REO properties Kevin Stein in predominantly White communities had (415) 864-3980 the same problem.

• 61.5% of the REO properties in communities of color had no professional “for sale” sign marketing the home, while none of the REO properties in predominantly White communities had the same problem.

• 53.8% of the REO properties in communities of color had damaged siding, while none of the REO properties in predominantly White communities had the same problem.

Caroline Peattie (415) 457-5025 (Ext. 106)

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CALIFORNIA REINVESTMENT COALITION

RESPONDS TO STEVE

MNUCHIN’S LIKELY NOMINATION FOR

TREASURY

SECRETARY

Upon hearing the news that president elect Donald Trump will likely nominate Steven Mnuchin, former chair of OneWest Bank and board member of CIT Group for Treasury Secretary, Paulina Gonzalez, executive director at the California Reinvestment Coalition released this statement today: “If Mr. Mnuchin is nominated to the position of Secretary of the Treasury by President Elect Trump it will continue an alarming trend of a series of appointments by Mr. Trump that signals a coming attack on civil rights, working families, and consumer protections by the administration. december 2016

We expect that the Senate will dig into Mr. Mnuchin’s track record, and we imagine the many families who lost their homes at the hands of OneWest will be watching closely and will also want to share their experiences as part of any confirmation hearings.

Wall Street has long argued for a loosening of regulations for the banking industry, protections put in place by the Wall Street Reform Act, otherwise known as, Dodd-Frank, and the Fair Housing Act and Fair Lending Laws enforced by the Department of Housing and Urban Development (HUD) and the Consumer Financial Protection Bureau. Mr. Mnunich’s nomination and his track record, detailed in a redlining complaint filed with HUD earlier this month, make it clear, the fox has been nominated to guard the henhouse.

Earlier this month, our nonprofit submitted a redlining complaint to HUD, highlighting a number of concerns about OneWest Bank and its track record in Los Angeles communities, as well as its maintenance (or lack thereof) of homes it had foreclosed on in Northern California.

Steven Mnuchin was chair of OneWest bank when most of these activities are alleged to have occurred and is now a board member of CIT Group, the owner of OneWest Bank. CIT Group is no stranger to controversy or bankruptcy, as it received over $2 billion in TARP money that it never repaid to taxpayers.

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Our goal in submitting a redlining complaint to OneWest’s reverse mortgage loan servicing. Our HUD is to prevent ongoing harm against borrowers own investigation into OneWest reverse mortgage and communities of color by OneWest Bank. foreclosures revealed that the bank was responsible for 39% of all foreclosures on federally insured The complaint is based on analysis of publicly reverse mortgages- despite only servicing about available mortgage lending data, and of OneWest 17% of this market.” branching data. In addition, Fair Housing Advocates of Northern California conducted a Additional background about OneWest Bank’s separate investigation into OneWest bank-owned track record and its merger with CIT Group is homes and uncovered differences in how the available at www.badbankmerger.com bank maintained homes in predominantly white communities vs. neighborhoods of color.

Paulina Gonzalez

Our analysis of the bank’s lending data revealed that OneWest’s home lending to borrowers and communities of color has been low in absolute Executive Director terms, low compared to peer banks, and low when compared to what one would expect, given the Paulina Gonzalez is size of the Asian American, African American, Executive Director of the and Latino populations in Los Angeles.

California Reinvestment As an example, in analyzing 2015 lending data, we determined that white borrowers were the only group where OneWest Bank had higher lending levels than its industry peers, and dramatically higher lending levels than one would expect, given the size of the white population in OneWest’s assessment areas. In comparison, its lending to Asian, African American, and Latino borrowers, has been well below the industry average and well below what one would expect, given the size of these populations.

We urge HUD to investigate these potential violations of the Fair Housing Act and to share the agency’s findings with the public as soon as possible. In the mean time, we strongly oppose having Wall Street Insiders, like Steve Mnuchin, guarding Wall Street.

We also think it is important and relevant for the public to know that this bank has foreclosed on over 36,000 families in California (and an unknown number throughout the US) and that 2/3 of these foreclosures occurred in majority minority communities.

We’re also interested to learn the results of a separate investigation by HUD’s Office of Inspector General, focused on problems with

Coalition. She has worked for over 20 years leading economic justice organizing campaigns to expand worker rights, immigrant rights, and the rights of low income and underrepresented communities of color.

Prior to joining CRC, Paulina served for over four years as the Executive Director for Strategic Actions for a Just Economy (SAJE). SAJE is an LA-based economic justice, community development, and popular education center building a powerful voice for residents of South Central Los Angeles.

Under her leadership, SAJE launched an organizing campaign against powerful developer G.H. Palmer that resulted in a groundbreaking Community Benefits Agreement that provides South LA residents with health services, jobs, affordable housing, and small business development. In addition, while at SAJE Paulina led the community organizing campaign that resulted in the University of Southern California agreeing to provide historic community benefits for surrounding neighborhoods. Community benefits include $20 million for affordable housing, a local hiring requirement for newly created living wage jobs, small business development and support, a 15% local procurement goal, and a new tenant legal clinic at the USC Gould School of Law as part of the university’s expansion and development plans.

Prior to her work with SAJE, she worked for 13 years with UNITE HERE, the union that represents hotel and food service workers, where she played a lead campaign role in the successful Santa Monica hotel organizing and living wage campaigns and the LAX Century Blvd. hotel worker living wage campaign.

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t

Fi to affect re

R

eal estate market is on th revolution that is about to c economy of the country as today. Most people if asked would any doubt agree to the fact that the p elect, Mr. Trump will change the f real estate in the U.S, howe are some issues that we to look at before we ou this market will be in t

Well, it is a little bit to predict what four years have estate market. W Republicans runn chambers of the congress, inform what this admi intends to do for th has its large portio the dark. Basica where the country can be able to pre issues that will future course of t and the economy

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a positive contribution to the economy of the country. Trump’s administration is devoted to reduce the tax and government spending which mainly will be as a result of increase in the infrastructural development and upgrading of the nation’s defense mechanism.

The positive short-term effect of this is that, the economy will heighten, proceeding to even the first quarter of the year 2017.

since the stimulus is only resulting from short-term basis and not on long-term basis forcing a larger budget deficit that will force the interest rates to be higher.

The current mortgage lending situation Generally, there is a stringent mortgage underwriting but with the new regime, this could simply vanish away to normal lending.

Well, if you are keen on the mortgage lending, you will notice that there is a tense lending majorly evidenced by a high credit score from those who qualify.

Inflation is also expected to rise greatly from the growing rate of the Gross Domestic Product in the country. The housing market on the other hand will experience a major blast in as far as inflation is on the rise. With the gains in the consumer confidence, the Trump administration, for most part on the economy will push further and higher. mortgage lending, clearly clarifies what is to be in the infraction of the mortgage However, the growing rate of inflation can lending providing more consumers with an be sustained. If, for example, the higher opportunity to vie for this loan. However, productivity is the major cause of the inflation, that is not all, should the Republican officials then this is a market situation that can be create a regulation that allows the consumers easily managed and manipulated giving an to gain the rightful position and environment opportunity to many potential investors. of suing the landowners, mortgage lenders and institution and corporation, then all these Creation of the jobs in the country is a positive players might significantly retrench their move especially to the real estate market. Tax lending capability and if not, they will have to revenues will automatically increase making adhere to the set rules making the real estate the budget deficit to significantly reduce. market grow significantly.

However, a red light on this issue, though there will be a stimulus surge in the economy, the future generation might suffer bad debts

and the real estate agents already in the market are hoping for the best rule out in as much as real estate is concerned. However, there are The play out in the land use and zoning alarming issues that need to be addressed and encumbrances is majorly focused on the that would not favor the real estate market as we regulatory measures by the government. With the see it today. new administration, this could change meaning that less regulatory measures would be imposed, The immigration policy giving a favorable window for new construction A general fact, fewer foreign investors in the due to lower construction costs. real estate industry, the lesser the demand.

Well, if you are keen enough, you will notice that there has been a rise in the prices of the new We can argue all about what this administration homes that are constructed compared to homes could mean for this market on a positive that were already in existence there before. This perspective but with less foreign investment, majorly came out as land owners claimed that it this would mean a bad taste for real estate. was due to the regulation imposed resulting into other extra costs. The Trump’s administration is likely to lift off this burden making home prices, both the newly constructed and the existing ones tolerable.

Land use - what is the Trump’s administration likely to do about it?

Educational institutions in conjunction with real estate Basically, the higher learning institution are likely to get help from the Trump administration.

The country need more skilled workers.

Graduates are expected to venture into commercial and home building investments giving a room for the development of the real estate industry in the country.

Even though there existed rivalry between the two vying candidates, they both agreed on the need of the education facilities in helping the economy grow.

Much is anticipated on Trump’s administration

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Potential investors will be blockaded from entering the country meaning that investment would be so low.

This effect is more diversified on the Southern Florida floor where the immigration and trade policies would hit hard as long as housing markets are concerned.

Real estate market has on the long run dependent on the foreign investors but the number over the years have thinned out significantly due to the strengthening rate of the dollar and the declining economy from the individual’s country. With the new immigration policy, then housing market is expected to be hit by a very cold blow.

Trump’s views on foreign investors Still, Trumps remarks on most of the Hispanic community and investors might have a cold blow on the economy and how the real estate market will turn out to be. Majorly, focusing on a particulate major real estate pool for most

investors in the Southern Florida-Miami, where foreign investors make about 60% of the total investment, real estate market in such a region is likely to be greatly affected. Most of them will find it difficult to invest due to fear and unpredictability in the future course of their investment.

Given that the foreign investment might be so difficult, then the threat could be very real and very bad, the market is slowly recovering from the economic recession period.

Disruption of the market would mean zero efforts made from the recovery.

At this point, it would do a good damage to the real estate market and this might make it even much harder for the economy to boost and return back to its feet.

Hopefully, the market is expected to do just fine but it would be prudent enough if we just let things cool off for a moment then get to decide how the market will fallout.

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BUSINESS

Frazier Group Realty, Inc. As you venture into the World of Real Estate, we can help you put the pieces together and Naviagate you into Home Ownership

Ruby L. Frazier President License #01751773

Briana M. Frazier Broker License # 01751473

Jessica E. Frazier License # 01817312

Erica L. Frazier License# 01791095

Frazier Group Realty is the right place. Our Navigators are available to give you personalized service and answer any questions you may have. You can call, email or visit us and we will be there ready to help you every step of the way. Wether you are a first time home buyer or an experienced real estate investor, here at Frazier Group Realty you gain useful information about how to choose the “right” property, and everything involved in making an informed decision in today’s real estate market.

Making Clients for Life

3739 6th Street, Riverside, CA 92501 Office: (951) 686-5261 Fax: (951) 686-5264 www.fraziergrouprealty.com

Home Ownership Home ownership brings stability to individuals and families who have never had a dwelling place that they could call their own. There is something special about owning real estate that is unlike anything else on earth you can own.

Real Estate you own is not like cars that decay over time and you have to replace them.

Real Estate you own is not like clothes that go out of style and you have to buy new ones.

Real Estate you own is not like expensive vacations or experiences that only last a moment in time.

Real Estate you own is not like an apartment where the landlord may increase the rent until it’s no longer affordable.

Real Estate you own is not like staying at your parents house where you know can’t stay forever.

Home ownership is the beginning of wealth that increases over time and becomes your estate & legacy Home ownership is the pride of a mother nurturer and the kitchen her domain Home ownership is the pride of a father provider and protector of his territory and family.

Home ownership is the foundation of permanence and the place where life happens, birthdays celebrated, deaths mourned.

Home ownership is the place you build memories that can never be taken from you.

Memories etched in walls and concrete, experienced in rooms and floors, Memories living in trees and shrubs planted by your hand.

Howe ownership is the manifestation of you - your style, your colors, your smell, your stuff, your junk, your memories, your yard and your spaces, your life.

It’s the height markers on your first child’s bedroom wall.

It’s the hearts drawn in the concrete slabs when you pour your patio floor It’s the birthday parties, and anniversaries in the living room and kitchen.

It’s the back yard barbecue with friends, neighbors and family contentions it’s the high school and college graduation, and wedding receptions Its’ the family nights and block parties and the fellowship of family connections Home ownership It’s more than real estate. Land, brick and mortar, wood frame construction and chicken wire.

It’s more than money saved, gifts recieved and grants obtained It’s more than the debt you incur to buy it.

It’s more than the payments you make to own it.

It’s more than the appreciation that comes with keeping it over time.

It’s memories, it’s family, and it’s life that can happen in one place Until you say it’s time to move.

By Eric Lawrence Frazier MBA CA BRE 01143484 | NMLS 461807

ECONOMY

GOVERNOR JEROME H. POWELL AT THE THE ECONOMIC CLUB OF INDIANA, INDIANAPOLIS, INDIANA

NOVEMBER 29, 2016

RECENT ECONOMIC DEVELOPMENTS

AND LONGER-RUN CHALLENGES

Thank you for the opportunity to speak here today. My plan is to discuss the U.S. economy from three different perspectives.

I will start by taking stock of the current expansion-a business cycle point of view.

Then I will shift the focus to some of the longer-term challenges we face in coming years. I will conclude with a discussion of monetary policy. As always, the views I express here today are mine alone.

headline measure of inflation has recently been held down by falling energy and food prices. We also monitor core inflation, which excludes the volatile energy and food components because they often send a misleading signal about underlying inflation pressures. Core inflation is The Current State of the Economy running at 1.7 percent over the past 12 months.

As you know, the Congress has tasked the Both measures have gradually moved upward Federal Reserve with achieving stable prices toward 2 percent. and maximum employment--the dual mandate.

Today, we are not far from achieving those goals. U.S. inflation trended steadily lower after the The Federal Open Market Committee (FOMC) Volcker disinflation of 1981 to 1982 and has has an objective of 2 percent for inflation, as been low and reasonably stable for many years. measured by the annual change in the price index In fact, for the past several years inflation has for personal consumption expenditures. The run below policy targets in many parts of the Committee sees this objective as symmetrical, so world, including here in the United States. that minor deviations above or below 2 percent Many of us are old enough to remember when are treated alike.1 Inflation has consistently run the only challenge was to keep inflation low. But below 2 percent since 2011, and is now at 1.2 too-low inflation can also be a serious problem. percent over the past 12 months (figure 1). This Below-target inflation increases the real value of

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debts owed by households and businesses and reduces the ability of central banks to respond to downturns.

The public’s expectations about inflation are thought to be an important driver of actual inflation. Many measures of U.S. inflation expectations--both from surveys and from market-based readings--are still well below their pre-crisis levels, although some have moved up as of late. The only way to ensure that inflation in labor force participation (figure 3). expectations remain safely anchored near the FOMC’s target is to keep inflation close to that target on a consistent basis. So, while the current shortfall may seem small, it is important that inflation continue to move up to 2 percent, as I expect it will.

The FOMC does not have a numerical goal for maximum employment because the long-run sustainable level of employment changes over time and is determined mainly by nonmonetary factors that are outside the Fed’s control, such as evolving labor market practices, demographics, social change, and fiscal and regulatory policies.

Nonetheless, four times each year FOMC participants write down their estimates of the longer-run normal level of the unemployment rate (the natural rate); at the September FOMC meeting the median estimate was 4.8 percent, very close to the current unemployment rate of 4.9 percent.

The labor force participation rate represents the percentage of adults aged 16 and over who are in the labor force, which is defined to include only those who are employed or actively looking for work. When people enter or reenter the labor force and begin to search for a job, that is generally a good thing even though at the margin their entry tends to increase the unemployment rate (or prevent it from declining). Beginning in the 1960s, labor force participation rose steadily as women entered the paid workforce (figure Other labor market measures are also healthy, 4). That trend ran its course as participation including payroll job creation and labor force participation. Employers have been adding roughly 180,000 jobs per month so far this year-a pace a little below that of the past several years but significantly higher than underlying growth in the labor force (figure 2). Despite these strong job gains, the unemployment rate has flattened out this year after several years of sharp declines, thanks to welcome developments

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ECONOMY

peaked around 2000 and has declined steadily since then as a result of the aging of our population and other longer-run trends, notably the decline in participation by men in the heart of their working-age years. Going forward, many analysts expect labor force participation to decline at a trend rate of roughly 0.3 percent per year as a result of these factors. However, participation fell much more sharply than that after the financial crisis. Some of those who left the labor force went back to school, but others moved onto disability, took early retirement, or just became discouraged and stopped seeking work. The sharp drop raised fears that the crisis might leave behind permanent damage to our labor force. Fortunately, since late 2013, the participation rate has remained about flat and thus has gradually moved back close to its estimated longer-term trend.2 On net, people have been entering and remaining in the labor market as job prospects have brightened, offsetting the natural decline from population aging.

report that it is getting harder to find employees to fill open positions. Moreover, wages are now rising faster than inflation, and faster than output per hour. Taken together, labor market indicators show an economy that is on solid footing and close to our mandate of maximum employment.

It is interesting to compare this expansion to past U.S. expansions, and also to recoveries of other countries since the end of the Global Financial Crisis. The picture is a mixed one. The current recovery has been under way since June 2009--nearly seven and a half years. It will soon be the third longest of the 20 recoveries since the founding of the Federal Reserve in 1913.

GDP, or output, is now 11 percent higher than its pre-crisis peak. Employment is now 6.5 million higher than its pre-crisis peak.

But this expansion has also had the slowest pace of GDP growth of any postwar recovery (figure 6). Given steady but modest growth, we have

Surveys of households and firms also suggest that we are near full employment (figure 5). For

example, respondents are now more likely to say that jobs are plentiful than that they are hard to get--a response that has generally been seen when the economy is near full employment. Job vacancies are running at high levels, and firms

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seen surprisingly large gains in employment and, until this year, a rapid reduction in the unemployment rate. Even though GDP growth has been slow, job gains during this recovery have been stronger than those during the previous expansion--the so-called jobless recovery of the early 2000s. The combination of weak growth and strong hiring in this expansion implies small increases in output per hour, or productivity. In

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fact, productivity has been increasing at a dismal Longer-Run Challenges pace, compared with virtually any period in the Productivity and Growth postwar era. I will return to productivity and growth in a moment.

Let’s turn to longer-run challenges, and start by asking why growth has been so slow, and how More positively, our current recovery compares fast we are likely to grow going forward. This fairly well with those of other advanced next slide shows the five-year trailing average economies (figure 7). Output has increased annual real GDP growth rate (figure 8). By this

faster, and unemployment has declined faster, in the United States than in other major advanced economies. And the Fed’s challenges in getting inflation back up to 2 percent are similar to, but not as severe as, those faced by some other major monetary authorities.

Turning to the near-term outlook, after a slow patch in the first half of this year, growth has clearly strengthened. I expect that the economy will continue on its path of the last few years, with real GDP growth of about 2 percent, strong job gains, a tightening labor market, and inflation moving up toward our 2 percent objective. The main risks I see to that outlook are from abroad. Growth and inflation are low around the world. With interest rates so low, we are not well positioned to respond to negative shocks, whatever the source.

measure, growth averaged about 3.2 percent annually through the 1970s, the 1980s, and the 1990s. But growth began to decline after 2000 and then nose-dived with the onset of the Global Financial Crisis in 2007 and the slow expansion that followed. Since the financial crisis ended in 2009, forecasters have gradually reduced their estimates of long-run trend growth from about 3 percent to about 2 percent--a seemingly small difference that would make a huge difference in living standards over time.3 How much of this decline is just a particularly bad business cycle, and how much represents a long-run downshift? To get at that question, let’s take a deeper look at the growth slowdown. We can think of economic growth as coming from two sources: more hours worked (labor supply) or higher output per hour (productivity). Hours worked mainly depends on growth in the labor force, which has been slowing since the mid2000s as the baby-boom generation ages. As you

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ECONOMY can see, the labor force is now growing at only postwar rate (figure 11). The slowdown in about 0.5 percent per year (figure 9). Another

productivity has been worldwide and is evident way to see this is through the sustained increase even in countries that were little affected by the in the ratio of people over 65 to those who are in crisis (figure 12). Given the global nature of the their prime working years (figure 10). This long-

phenomenon, it is unlikely that U.S.-specific factors are mainly responsible.

A portion of the productivity slowdown is undoubtedly due to low levels of investment by businesses. The financial crisis and the expected demographic fact has now arrived, and Great Recession left firms with excess capacity, it has challenging implications for our potential reducing incentives to invest. If businesses growth and also for our fiscal policy.4 expect slower growth to continue, that will also hold down investment.

The unexpected part of the growth slowdown reflects weak productivity growth rather than The other important factor is the decline in what lower labor supply. Labor productivity has economists call total factor productivity, or increased only 1/2 percent per year since 2010- TFP, which is the part of productivity that is not -the smallest five-year rate of increase since explained by capital investment or increases in World War II and about one-fourth of the average the skills of the labor force. TFP is thought to

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be mainly a function of technological innovation financial crisis. In fact, this next chart shows and efficiency gains. that, as growth and inflation have fallen, longer term interest rates have fallen as well over the There is no consensus about the future direction past 35 years (figure 13). of productivity.5 The pessimists argue that the big paradigm-changing innovations, such as electrification or the advent of computers, are behind us. If that is so, then our standard of living will increase more slowly going forward.

The optimists think that this slowdown is only a passing phase and that the age of robots and machine learning will transform our economy in coming decades. Still others argue that we are currently underestimating productivity and output because of the real difficulties we face So why are long-term interest rates so low? Many in measuring GDP in a modern economy. For of you will no doubt be thinking, “They are low example, how do we measure the value-added of because you people at the Fed set them low!” free digital services like Facebook or Twitter?6 While there is an element of truth there, that is The future is, as always, uncertain. But I would not the whole story. The FOMC has considerable sum up the growth discussion as follows. control over short-term interest rates. We have Growth in the labor force has slowed, and we much less influence over long-term rates, which can estimate it with reasonable confidence to be are set in the marketplace. Long-term interest only about 0.5 percent. Growth in productivity is rates represent the price that balances the supply both more important and much harder to predict. of saving by lenders and demand for funds by Productivity varies significantly over time, as borrowers, such as businesses needing to fund figure 11 showed. If productivity growth returns their capital expenditures. Lenders expect to to, say, 1.5 percent, then the U.S. economy could receive a real return and to be compensated grow at about 2.0 percent over the long term. for inflation and for the risk of nonpayment.

Actual growth may turn out to be weaker or Meanwhile, borrowers adjust their demand for stronger, and the choices we make as a society funds based on their changing assessment of the will have something to say about that. risks and expected returns of their investment projects. When desired saving rises or investment Why Are Long-Term Interest Rates So Low? demand falls, then long-term interest rates will decline. Today’s very low level of long-term Let’s turn to the related question of why long- rates suggests that both of these factors are at term interest rates are so extraordinarily low in play. advanced economies around the world. The yield on our own benchmark 10-year U.S. Treasury Both expectations of slower growth and the security has increased lately, but at 2.3 percent aging of our population are having significant it is still far below what was normal before the effects on desired saving and investment and

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ECONOMY are thus important causes of lower interest rates.

If the economy is expanding more slowly, then the level of investment needed to meet demand will be lower. The lower path of growth reduces future income prospects of households, and they will tend to raise their saving. The pending retirement of baby boomers means higher saving, because people tend to save the most in the years just before their retirement. In addition, the lower rate of return on capital owing to lower productivity growth will lead to less investment and lower interest rates.

need policies that support productivity growth, business hiring and investment, labor force participation, and the development of skills. We need effective fiscal and regulatory policies that inspire public confidence. Increased spending on public infrastructure may raise privatesector productivity over time, particularly with the growth of the stock of public infrastructure near an all-time low.7 Greater support for public and private research and development, and policies that improve product and labor market dynamism may also be fruitful.8 Monetary policy can contribute by supporting a strong and As with productivity, the factors behind the fall durable expansion in a context of price stability. in U.S. interest rates include an important global component, as rates are low around the world. Monetary Policy Indeed, although our rates are near historical lows, U.S. Treasury rates are among the highest The low interest rate environment presents among the major advanced economy sovereigns special challenges for monetary policy. In setting (figure 14). our target for the federal funds rate, a good place to start is to identify the rate that would prevail if the economy were at 2 percent inflation and full employment--the so-called neutral rate. “Neutral� in this context means that the rate is neither contractionary nor expansionary. If the fed funds rate is lower than the neutral rate, then policy is stimulative or accommodative, which will tend to raise growth and inflation. If the fed funds rate is higher than the neutral rate, then policy is tight and will tend to slow growth and reduce inflation.

Is This the New Normal?

What can we do to prevent low growth, low inflation, and low interest rates from becoming the new normal? We need to focus on ways to increase our long-term growth and spread that prosperity as broadly as possible. I hasten to add that these policies are, for the most part, outside the purview of the Federal Reserve. We

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But we can only estimate the neutral rate, and those estimates are subject to substantial uncertainty. Before the crisis, the long-run neutral rate was generally thought to be roughly stable at around 4.25 percent. Since the crisis, estimates have steadily declined, and the median estimate by FOMC participants stood at 2.9 percent in September. Many analysts believe

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that the neutral rate is even lower than that today and will only return to its long-run value over time.9 The low level of the neutral interest rate has several important implications. First, today’s low rates are not as stimulative as they seem--consider that, despite historically low rates, inflation has run consistently below target and housing construction remains far below precrisis levels. Second, with rates so low, central banks are not well positioned to counteract a renewed bout of weakness. Third, persistently low interest rates can raise financial stability concerns. A long period of very low interest rates could lead to excessive risk-taking and, over time, to unsustainably high asset prices and credit growth. These are risks that we monitor carefully. Higher growth would increase the neutral rate and help address these issues.

Turning to the outlook for monetary policy, incoming data show an economy that is growing at a healthy pace, with solid payroll job gains and inflation gradually moving up to 2 percent.

In my view, the case for an increase in the federal

funds rate has clearly strengthened since our previous meeting earlier this month. Of course, the path of rates will depend on the path of the economy. With inflation below target, relatively slow growth, and some slack remaining in the economy, the Committee has been patient about raising rates. That patience has paid dividends.

But moving too slowly could eventually mean that the Committee would have to tighten policy abruptly to avoid overshooting our goals.

Conclusion To wrap up, since the end of the Great Recession in 2009, our economy has recovered slowly but steadily. Today, we are reasonably close to achieving full employment and our 2 percent inflation objective. But we face real challenges over the medium and longer terms. Our aging population will mean slower growth, all else held equal. If living standards are to continue to rise, we need policies that will support productivity and allow our dynamic economy to generate widespread gains in prosperity.

______________________________________________________________________________ 1. See the FOMC’s “Statement on Longer-Run Goals and Monetary Policy Strategy (PDF),” FOMC, January 26, 2016.

2. The current participation rate is within the range of estimates cited in Stephanie Aaronson, Tomaz Cajner, Bruce Fallick, Felix Galbis-Reig, Christopher Smith, and William Wascher (2014), “Labor Force Participation: Recent Developments and Future Prospects (PDF),” Brookings Papers on Economic Activity, Fall, pp. 197-275.

3. See Jerome H. Powell (2016), “Recent Economic Developments, the Productive Potential of the Economy, and Monetary Policy,” speech delivered at the Peterson Institute for International Economics, Washington, D.C., May 26.

4. Congressional Budget Office (2016), The 2016 Long-Term Budget Outlook (PDF) , (Washington: CBO, July).

5. On the pessimistic end of the spectrum are analysts such as Robert Gordon, The Rise and Fall of American Growth: The U.S. Standard of Living since the Civil War (Princeton University Press, 2016). Among the optimists are Erik Brynjolfsson and Andrew McAfee, The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies (W. W. Norton & Company, 2014). Return to text 6. See David M. Byrne, John G. Fernald, and Marshall B. Reinsdorf (2016), “Does the United States Have a Productivity Slowdown or Measurement Problem?” Brookings Papers on Economic Activity, March 4. 7. See, for example, Abdul Abiad, Davide Furceri, and Petia Topalova (2014), “IMF Survey: The Time Is Right for an Infrastructure Push ,” World Economic Outlook (Washington: International Monetary Fund, October).

8. See, for example, International Monetary Fund (2016), “Acting Now, Acting Together ,” Fiscal Monitor (Washington: IMF, April); Ryan A. Decker, John Haltiwanger, Ron S. Jarmin, and Javier Miranda (2016), “Declining Business Dynamism: What We Know and the Way Forward ,” American Economic Review, vol. 106 (May), pp. 203-

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ECONOMY 07; Steven Davis and John Haltiwanger (2014), “Labor Market Fluidity and Economic Performance,” NBER Working Paper Series 20479 (Cambridge, Mass: National Bureau of Economic Research, September); The Department of the Treasury Office of Economic Policy, the Council of Economic Advisers, and the Department of Labor (2015), “Occupational Licensing: A Framework for Policymakers (PDF)” (Washington: The White House, July).

9. See, for example, Kathryn Holston, Thomas Laubach, and John Williams (2016), “Measuring the Natural Rate of Interest: International Trends and Determinants (PDF) ,” Federal Reserve Bank of San Francisco Working Paper 2016-11 (August); Benjamin K. Johannsen and Elmar Mertens (2016), FEDS Notes (Washington: Board of Governors of the Federal Reserve System, February 9), http://dx.doi.org/10.17016/2380-7172.1703.

J

erome H. “Jay” Powell (born February 1953) is a governor of the Federal Reserve. He took office on May 25, 2012, to fill an unexpired term. He was reappointed and sworn in on June 16, 2014, for a term ending January 31, 2028.

Personal background Jerome H. Powell was born in February 1953 in Washington, D.C. He graduated from the Georgetown Preparatory School in 1971, received an A.B. in politics from Princeton University in 1975 and earned a law degree from Georgetown University in 1979. While at Georgetown, he was editor-in-chief of the Georgetown Law Journal. He is married with three children.

Professional background Prior to his appointment to the Board of Governors, Powell was a visiting scholar at the Bipartisan Policy Center in Washington, D.C., where he focused on federal and state fiscal issues. From 1997 through 2005, he was a partner at the Carlyle Group.

Powell served as an assistant secretary and as undersecretary of the Treasury under President George H. W. Bush, with responsibility for policy on financial institutions, the Treasury debt market, and related areas.

Nicholas F. Brady, a former Dillon, Read & Co. colleague, was the then sitting Secretary of the Treasury.

Prior to joining the Bush administration, he worked as a lawyer and investment banker in New York City.

In 1985, Powell was an Associate at Dillion Read and at the time of his Senate confirmation in September 1990 he was a Senior Vice President of the firm.

In addition to service on corporate boards, Powell has served on the boards of charitable and educational institutions, including the Bendheim Center for Finance at Princeton University and The Nature Conservancy of Washington, D.C., and Maryland.

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TECHNOLOGY

Technology and its Bright Future

for the City Of Riverside I n this wonderful and progressive age of technology, one city’s citizens can rest assured that they are keeping up with the modern trends. After being voted fifth in the 2016 Digital Cities Survey, the city of Riverside is showing how it can extend its governmental reach to make its policies and procedures available to its citizens. By providing its citizens with the accessibility of the most current technological advances, the Riverside community has created an environment for its customers that will provide that “close-knit� feeling that will ensure that the city makes its inhabitants feel more at home and in touch with not only the rest of the city but also more in touch with the rest of the world. december 2016

The Digital Cities Survey

It is conducted by The Center for Digital Government (CDG) The Center for Digital Government was established in 1999 for recognition that the proliferation of personal computing had significant and far-reaching implications for state and local government.

The Center for Digital Government is a national research and advisory institute on information technology policies and best practices in state and local government.

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that gained the city of Riverside the prestige that placed it in the Digital Cities Survey. The goals will include: building up the foundation of cyber security, providing a more open government to the citizens, data distribution access at real time availability, and an increased encouragement of citizen engagement.

Riverside 311 Smartphone application and EngageRiverside.com website Riverside 311 which is a mobile phone application provides a platform for Riverside city residents to connect to city services. The EngageRiverside.com website allows residents feedback through an online engagement tool for sharing one’s ideas and suggestions. The City Mayor Pro Tem Andy Melendrez recognized the move by the government to using the two innovative tools to open up the society adding that Riverside is meeting its residents and business community online, which their habitual place.

Criteria used by the Government By placing such a high position in this statewide poll, the Center for Digital Government feels very optimistic about the future technological upgrades that are to come to the city of Riverside in the future. Lea Deesing, Riverside’s Chief Innovation Officer, sets the new standard for the future in Riverside’s technology by stating that “Residents and business owners are using technology more than ever in their daily lives, and the City of Riverside is committed to providing them with tools they need.” To ensure that the current high standards are followed through into the upcoming year, Design has set her sights on an increased focus on the principles

When we speak of increased focus for the future incorporation of technology into the Riverside community, cyber security is one of the quickest ways to utilize the resources at hand. The principle goal of increasing the focus on cyber security is to ensure a smooth transition for the citizens of Riverside into the age of technology.

In this technological age, Riverside is meeting residents and business owners that spend much of their time online.

The Pro Tem Mayor Andy Melendrez expresses his excitement over the rate in which he hopes to provide these upgrades by including that “It’s exciting to see the government being opened up to the community with these innovative tools.”

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TECHNOLOGY

The city is tackling progress in a way that yields benefits for the government and the citizens alike.

Fortifying the foundation of cyber security in 2017 is one way that the city of Riverside hopes to move the city forward with these improvements without any fear of stagnation whatsoever.

Providing this protection with higher levels of citizen engagement. The hope is to improve confidentiality in these circumstances is the best the connection between the city and its citizens way to ensure the stability of the future of smart while maintaining a simplicity that encourages environments in Riverside. the citizens to utilize resources never before available with such ease. Todd Sander, executive The future director of the Center for Digital Government, exemplifies the projected scope of the city’s To make the future world that we dream future by writing “This year’s top digital cities about is not based only on words, but rather are using technology to ensure citizens can on our actions. The future of technology in meaningfully interact with city government more the city of Riverside is a future with a more easily than any other time in history.” open government. When speaking of open governments, this includes hopes to improve This is quite critical when considering times of upon the broadband and wireless infrastructure crisis when such mechanisms can aid in rescue that currently exist throughout the city. The goal efforts a community outreach. is to improve the current connectivity to the point that every citizen can still be connected Riverside ranked fifth in the 2016 Digital to the community even when they alone and Cities Survey among governments with at physically disconnected from the rest of the least 250,000, but less than 500,000 residents. city. Through applying for innovative and best The Center for Digital Government conducts practice programs, the Riverside community national research on the best practices and will be able to access the resources that will policies for the technology provided by the state improve the quality of life for the citizens while and local governments. Riverside’s placement also having an understanding how to use these in the survey was an honor as they were even mechanisms to their fullest advantage. Another placed ahead of larger cities, such as Long Beach aspect of the projected improvements upon the and Sacramento, who also placed in the same Riverside smart environment includes more category. These cities were recognized based transparency in the city and open data available on comprehensive surveys and reviews of their to the general public. The goal of the projected information technological strategies, priorities, outreach of these programs for the upcoming in-place accomplishments, and accomplishments year is to allow the citizens of Riverside access completed in the last year. With the result like to such resources as mobility and mobile these, it shows great promise for the above applications, social media, and also a universal mentioned projected goals if Riverside for 2017. new open government portal that will contain city updates that citizens can access in real time.

Like previously mentioned, the pivotal goal is

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