🏠 The zodiac signs most likely to become billionaires

Should you buy or should you rent? A lot of first-time prospective homebuyers seem to be resigning their leases.

If high interest rates and inflation were meant to cool down demand — they've certainly succeeded. This week, mortgage applications reached their lowest level since 1995.

Why? Say your monthly housing budget is $2,500. In 2021 when mortgage rates were at 3%, you could've gotten a $518,000 house. But today — when rates have more than doubled — that same budget will afford you a $384,000 home. 👎

SPILLING THE (REAL)TEA

You can't choose your family, but you can choose your accommodations. And according to Airbnb, families prefer vacation rentals over hotels, counting 15 million check-ins in 2022.

This listing could be a tough cell. For a mere $195,000, this jail in Harrisonville, Missouri, could be yours!

Your financial fate may be written in the stars. ✨ The zodiac signs most likely to become billionaires are Libra, Pisces, and Taurus.

Location, location, location. It's the reason why this 800-square-foot trailer in the Hamptons is poised to sell for $3.75 million.

Messy girls, it's your time to shine — #clustercore is trending. To nail the interior design aesthetic, think maximalist, eclectic, and lived in. Take notes from Carrie Bradshaw’s New York City apartment.

TIP OF THE WEEK

Want a lower mortgage? You could purchase a mortgage buydown, which is when you and/or the seller/builder pay an upfront fee for discount points that lower your interest rate.

But keep in mind: a mortgage buydown only makes sense when you don't plan on selling any time soon. Otherwise, you could end up losing money.

Here are four different types of mortgage buydowns models:

01 — 3-2-1 buydown: During the first year, you pay 3% less than the current rate. Year two, you pay 2% less. Year three, you pay 1% less. And then year four, you pay full price.

02 — 2-1 buydown: During the first year, you pay 2% less than the current rate. Year two, you pay 1% less. And then year three, you pay full price.

03 — 1-0 buydown: During the first year, you pay 1% less than the current rate, and then you pay full price during year two.

04 — Evenly distributed: You pay less interest over the lifespan of the loan by paying a large upfront sum for discount points.

WHAT'S BREWING

📚 What we're reading: We're preordering Paris: The Memoir, which releases mid-month and promises to share some juicy Paris Hilton secrets.

👀 What we're watching: A year after the Will Smith Oscars slap, Chris Rock addressed the altercation during Netflix's first-ever live event Chris Rock: Selective Outrage, which aired last night.

🎧 What we're listening to: During this Glossy Podcast episode featuring Maria Sharapova, the former professional tennis player chats about her investment portfolio, which includes brands like Bala Bangles, Therabody, and Supergoop!

🛒 What we're adding to our shopping cart: Happy #WHM! Here are some female-founded brands in the home and interiors space you can support this month:

Coming Soon Hotel Lobby CandleRuggableParachuteBearabyJungalowSLIPOur PlaceBluelandThe SillOtherland

PROPERTY CRUSH

The housing market has gone bananas during the past couple years. 🍌 You might be wondering: "What does a $700,000 house even look like in 2023?" Here are three properties in three different states that hit the market with this asking price.

East Chatham, New York Farm House

La Quinta, California Desert Home

Baltimore, Maryland Rowhouse

WOMEN OF THE HOUSE

We asked five real estate investors what they wish they knew when they were first getting started in the industry.

From shedding perfectionism to overcoming analysis paralysis, here are five cautionary quotes from successful real estate investors who are embracing their imperfect starts.

Maria Friström is a real estate investor who owns 12 rental properties and is currently live-in flipping a home in Colorado.

“I wish I knew I don't have to prove myself by doing everything. I think it boils down to a good-girl complex of needing to show that I can do it without asking for help. That's definitely my biggest lesson. I started by doing everything myself, and I think that's a good way to learn. It's also a good way to save money. I remember I was breastfeeding and painting simultaneously, just craziness. It taught me a lot, and now I have huge respect for contractors, but it was really slow, and there's no scaling doing that.”

Jennifer Gizzi is the founder of Making Pretty Spaces, an Instagram platform where she’s cultivated an audience of more than 438K followers who look to her for home renovation and DIY tips.

“I would say the biggest thing is the comparison game. Social media can be a really dangerous place as far as comparing yourself to somebody else, comparing your house to somebody else’s, comparing your skills. It gets really dangerous for mental health. Create a balance with sharing what you truly like and what you're passionate about. You have to stick to what you can offer, and what you're good at, and what you like doing instead of trying to be like somebody else or create what someone else has.”

Mitzi Morelack is the owner of three vacation rental properties in northern Alabama, including the Wanderlust treehouse, which she built from scratch.

“I wish I knew how fulfilling this job truly is and I would have started it a long time ago! We absolutely love hosting. It’s not all just about the money; it’s about enjoying what you do.”

Sharon Tseung is a real estate investor who reached $1 million net worth before turning 30 years old.

“I wish I didn’t spend such a long time scared and not knowing how to take action. I thought it would be too daunting to invest out-of-state, especially since I didn’t live in the market. However, the biggest thing is you just have to take action. I spent so long scared of what to do and how to do it that it took me years after my first investment before scrounging up the courage to invest out-of-state.”

Marilynn Taylor is a veteran vacation rental host who uses her industry knowledge to coach new investors.

“I wish I would have known when I first started in the industry as a short-term rental host to not take everything so personally. I'm a recovering perfectionist, and [when I would visit my properties after guests stayed] I would rampage through the house finding everything out of place, all the things that were broken, and feeling so disrespected. Fast forward 16 years and I have adjusted my expectations and let perfect go. … When people really like you and you make them feel valued and special and that you're honored to be their host and you treat them that way, they will forgive a myriad of flaws. You don't have to be perfect as a host, your house doesn't have to be perfect. Of course we strive to always give the best that we can, but at the end of the day you have to have a mindset that you cannot make everybody happy.”