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Friday Financial Five – May 27, 2016

Friday, May 27, 2016


Home prices increase across the country

Across the United States, hot real estate markets are causing elation and some concern as areas that suffered heavily in the financial crisis have rebounded and then some. There are bidding wars in several areas, from Boston to San Francisco. A housing bubble shouldn’t sneak up on anyone given how recent the last one was, but there are signs of one brewing. According to growth detailed by the Federal Housing Finance Agency, prices are up almost 6 percent from the first three months of this year versus 2015. This includes 1.3 percent growth in the first quarter of 2016, despite twelve states experiencing declines.

CEO pay on the rise

Last week, the income story was President Obama changing the landscape for overtime pay. This week, Equilar and the Associated Press released a study on CEO compensation. According to their analysis, the CEOs at the largest companies received a raise last year of 4.5 percent and a median income almost touching $11 million. Less than fifty percent of the typical CEO pay comes in salaried cash, meaning the rest comes in the form of stock and/or options. The highest paid CEO on the list was Expedia’s Dara Khosrowshahi at nearly $95 million.

Plan for Puerto Rico’s debt

After months of negotiations, there may be an actionable plan in place to address the $70 billion Puerto Rico debt crisis. Overseen by House speaker, Paul Ryan, the Puerto Rico pact may be palatable for both sides of the political aisle. While some Republicans look at the bill as another bailout for leaders that haven’t shown the proper amount of fiscal oversight, some Democrats worry the terms may be too punitive for the territory’s residents. With both sides giving in a bit, the deal should have the backing to get passed this summer.

Senate votes down the DOL rule

In another anticipated move, Senate Republicans and a few Democrats approved a resolution to overturn the Department of Labor’s new fiduciary rule. The resolution will get vetoed by the president, and there aren’t enough votes in either the House or the Senate to override the veto. The rationale behind the rule’s opposition is that increased compliance costs will lead to higher investment fees and the inability to effectively serve those with more modest means. More likely, it means financial companies will have to implement a viable workforce that operates in clients’ best interest in a cost effective manner. That could mean a reduction in the number of advisors.

Prince’s death prompts estate planning awareness

Acknowledging estate planning holes and taking action is one of the biggest financial weaknesses people face. A silver lining to Prince’s passing might be the wave of people getting their estate planning situated, according to Reuters. After Prince’s passing on April 21st, some legal websites saw activity increase by fifty to sixty percent, including huge numbers looking to meet with an estate planning attorney. 

Dan Forbes, a CFP Board Ambassador, is a regular contributor on financial issues. He leads the firm Forbes Financial Planning, Inc in East Greenwich, RI and can be reached at [email protected]


Related Slideshow: Oregon Business Rankings in US

See how Oregon stacked up against the other states in the U.S.

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Oregon gets a C+ for small business friendliness from Thumbtack, in conjunction with the Kauffman Foundation.

According to the ranking:

Overall friendliness C+

Ease of starting a business B
Ease of hiring D+
Regulations D
Health & safety D
Employment, labor & hiring D
Tax code D+
Licensing C-
Environmental D
Zoning D+
Training & networking programs B+

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CEO Magazine

CEO magazine was not kind to Oregon.

The state ranked in the bottom ten states at #42.

Oregon get lumped by CEO's as being California like - too much regulation.

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The 2015 rankings puts Oregon in the top 20. Oregon ranks #18 in the United States. 

NY ranks one spot ahead at #17 and Florida ranks after Oregon.

#1 in the United States: Utah

#50 in the United States: Mississippi

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Oregon has been ranked as the 2nd most eco-friendly state in the country, according to a recent study by WalletHub

Oregon ranks eighth in environmental quality and first in Eco-Friendly Behaviors landing them in second overall. 

Oregon is behind Vermont and ahead of New York and Minnesota who land in the third and fourth spots respectively. 

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The Economist

Small Business Friendliness Grade: C+

The Economist grades states on an A+ to F grading scale for its small business climate. Oregon is one of 4 states that earned a "C+"

Overbearing bureaucracy and excessive licensing is stifling small business in America. 

Read More About The Economist Grade Here

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#22 CNBC

CNBC ranks each state in cost of doing business, economy, technology and innovation.

Read More About CNBC Ranking Here

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Wallet Hub

#28 Wallet Hub

Wallet Hub ranks each state in ROI rank, state tax rank, and overall government services.

Read More About Wallet Hub Ranking Here

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#38 Kauffman Foundation

Kauffman Foundation ranks each state in entrepreneurship.

Entrepreneurial activity generally is highest in Western and Southern states and lowest in Midwestern and Northeastern states.

Read More About Kauffman Ranking Here

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#19 Forbes in 2014

Forbes ranks each state in business costs, economic climate, and growth prospects.

Read More About Forbes Rankings Here


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