Real Estate

Many see increasing housing prices as good news and a sure sign that the economy is finally on the mend. But a closer look shows that the housing recovery is no more than illusory window-dressing, like a Potemkin village.

Russian minister Grigory Potemkin created a fake village to impress Empress Catherine II during her visit to Crimea. Similarly, Federal Reserve policy and private equity firms prop up the housing markets to make reality look better than it really is.

Homeownership is the romantic embodiment of the American Dream, but there are some significant costs to buy, own and maintain a place of your own. Not a lot of people figure them when shopping for a home. Hidden costs sneak in there. Know what you are getting into.

Let’s break down some of the areas on how to value homeownership. There are some obvious costs like your monthly mortgage payment:

The cost of housing, healthcare and other basic necessities rise faster than wages. How can you keep up with price increases and still save for retirement? Plan ahead for rising costs early on and take some risk to combat rising costs.

If you are looking for a house, try to find the cheapest one you can fit into. A less expensive home gives you more latitude to make good financial decisions.

When it comes to buying a house, the conventional wisdom is that you should select the most expensive one you can afford. You might want one that provides extra growing room, in hopes that your income and financial resources grow into the house as time goes on.

It’s hardly time to party like it’s 2004, 2005 or 2006, but there is a lot to be excited about in residential real estate. Once again, homeownership is a good investment. And unlike a lot of good investments you hear about too late, this one is rising, affordable and stable (finally).

With a little planning and saving, you can create your own sabbatical, although it doesn’t come cheap. How much does it really cost to quit your job for a year?

Before you start daydreaming, you need to calculate how much money to save before you leave the job. The answer is different for everyone, but this example should give you an idea of the expenses you need to cover.

Most real estate investment trusts, which hold commercial properties and make money from rent, are traded on stock exchanges. But lately they are expensive and don’t pay the lush dividends they used to. But REITs that don’t offer traded shares still offer good payouts.

Protecting your assets from an ex-spouse is getting easier. My state, South Dakota, joins Nevada in tightening protections on special trusts set up to shield holdings.

With less than two weeks until taxes are due, you may find yourself scrambling to get your return filed. Here are some tips, tricks and reminders to make your filing a little easier, and make sure that you get the best result possible this year.

 1. Determining which 1040 to file. Taxes are complicated, and figuring out which forms you need is a yearly headache as your financial situation changes. Look at this quick breakdown of the main individual tax return forms and who should file each one:

For residents of places like the Black Hills, where the first day of spring usually brings a snowstorm, timeshares for resorts in Florida or Mexico have a lot of appeal. They seem like a fun idea for a vacation in the sunshine, as well as a good deal financially. They are neither.

Over the past 30 years, I researched hundreds of timeshare offers. I've never bought one. When you take a close look at the numbers and the restrictions, they simply don't add up to a good value.