Over the past few months, the mainstream media has been filled with stories about the New Frugals and the return to thrift. People who once lived beyond their means, financing their lifestyle with debt, have “found religion”. They’ve begun to embrace frugality, and have discovered the joy that can come through spending less.
The New Age of Thrift
Not everyone is happy about this. The March issue of Redbook contained an article called “The Upside of Living on Less”, which profiled how four women are coping with the recession. The story prompted the following letter to the editor in the May issue:
While I love Redbook, something in your article “The Upside of Living on Less” rubbed me the wrong way. When describing the economic crunch, after rightfully blaming the banks and consumers who were charging more than they should have, the author wrote “Basically, we’d all been spending way more than we could afford.” I don’t appreciate being in the same category as overspenders. I am frugal with every cent, and I use every item to its utmost capacity simply because I don’t believe in waste of any kind. I always will be like that, regardless of the economy. Even though we’re all in this together, not everybody contributed to the country’s financial mess. — Darcy Bailey, Mount Holly NC
I’ve heard similar sentiments from GRS readers — and from my wife. To a degree, I sympathize. None of us wants to pay for the mistakes of others. When people make poor choices, they ought to face the consequences.
Still, I’m happy to see so many people discovering frugality. It’s an opportunity for us to spread the gospel of thrift. I don’t think it’s productive to spend time judging people for their past mistakes. If someone has a sincere desire to change, then I’m happy to help them do so. If these New Frugals possess the zeal of recent converts, perhaps they’ll spread the word to their friends and family, and maybe we will see a fundamental shift in American values. I believe that this country needs more frugality, not less.
Those with long-time habits of thrift should relish the current economic climate. Our smart choices will help us to weather the storm. Meanwhile, we should be glad to share what we know with others. The more people we can welcome to this way of life, the more likely it is to stick, to become a permanent part of our culture.
Gleefully Frugal
A recent New York Times article explores this notion. Matt Richtel writes:
Millions of Americans have trimmed expenses because they have had their jobs or hours cut, or fear they will. But a subset of savers are reducing costs not just with purpose, but with relish. These are the gleefully frugal…The gleefully frugal happily seek new ways to economize and take pride in outsaving the Joneses.
One of the “gleefully frugal” profiled in Richtel’s article is GRS-reader Katy Wolk-Stanley, who writes a blog called The Non-Consumer Advocate. Katy’s goal is to help people learn to live on as little income as possible. She follows some familiar frugal practices (like hanging clothes to dry), and she tries to buy nothing new — except for underwear. I asked Katy how she feels about the New Frugals.
“I am seeing a profound increase of interest in frugality, which I welcome with open arms,” she told me. “Very few of us have exercised complete financial responsibility from day one, and sometimes it does take hitting rock bottom before we embrace change. Frugality is not just for the chosen few, but for anyone who wants to take control of their lives. Just because a person has been frugal for years doesn’t mean they’re more deserving of kudos than someone whose frugal journey just started.
Katy made an interesting observation: “I’ve noticed that the mainstays of my frugal life have increased in popularity. The library lines are longer and the thrift stores are consistently busy, but I don’t resent this. I’m happy to share my non-consumer tricks with whoever is looking to ratchet down their lifestyle. Frugality is for everyone.”
She also pointed to a piece over at The Frugal Girl about the “unriveting story” of a woman who was always frugal and never got into debt.
Why Thrift Matters
Now that we’re about a year into this recession, we’ve had time to see how people are responding. Honestly, I’ve begun to suspect that there won’t be a permanent shift in American values. I wish our culture would embrace frugality and the do-it-yourself economy, but I don’t think it’s going to happen — not on a large scale. But I do expect that some people will change for good, and that many people will at least try their hand at thrifty things like:
Growing their own food.
Shopping at thrift stores.
Building and repairing things.
Making food from scratch.
Mending clothes.
If enough people do these things, if enough people see the benefits of these changes, if enough people retain a few of these skills once the economy improves, we’ll all be better off. I think frugality and thrift are about more than just saving money. They offer a chance to re-examine our lifestyles.
Thrift teaches the value of things.
Thrift provides for the future.
Thrift allows you to focus time and money on what’s important.
Thrift reduces consumption and waste.
Thrift imparts a sense of accomplishment.
Thrift matters to me because it is a skill that I can use every day in many ways, big and small, to maximize the value of my money. But it’s not the money that’s important. It’s what the money represents, which is freedom — the freedom to write. This is why thrift matters to me: By being a wise steward of my money, I am able to pursue my dream of writing full-time.
Making Frugality Personal
In my own life, I’m delighted to see the changes in my friends. Smart personal finance has been a personal passion for me over the past three years, but I try not to evangelize outside the blog. Perhaps I don’t need to.
Last weekend, a group of us gathered for our annual trip to central Oregon. Every year, the women go shopping at the big-name chains: Old Navy, The Gap, etc. This year, however, some of them joined me and Kris for a trip to Goodwill. They had so much fun that they went back to do more shopping the next day!
This is just a small example — and I have others — but I think it’s telling. I applaud people making small changes like this. This is how we learn to be frugal, how we learn to embrace an ethic of thrift. We try one thing. Then we try another. And another. I don’t think that people can maintain habits when they try to go cold turkey. I think that it’s better to make incremental changes to your lifestyle.
How do you feel about the New Frugals and the return to thrift? Do these new converts bug you? Are you glad to see them? Do you think the do-it-yourself economy will last? When things turn around, do you plan to practice the new skills you’ve found? Or are you eager to return to the way things were?
I’m back! After ten days boating through southeast Alaska (and two days of recovery), I’m ready to think about personal finance once again. Actually, it’ll probably come as no surprise that I never stopped thinking about personal finance. Even while we were skirting among ice floes, pulling up prawns, and admiring whales, my mind never strayed far from the topic of money. (I’m not saying this is a good thing, but it’s the truth.)
It’d be all too easy for me to share another sermon about the perils of Stuff — when you spend ten days on a 38-foot boat, living out of a single carry-on bag, you come to realize how little you actually need in life — but I feel like I’ve beaten that topic into the ground over the past few months. I’m working to cut down my dependence on things, and I know that many of you are, too; let’s save further discussion for another day.
Today, I want to talk about the value of social capital.
Though I don’t mention it often around GRS, the idea of social capital is constantly lurking behind the scenes. It’s a notion that can be hard to define. In fact, rather than try to do so from scratch, I’m going to quote myself. The next section is an excerpt from my book, Your Money: The Missing Manual.
What is social capital? You create social capital — mutual goodwill — when you volunteer at a soup kitchen, help your neighbor move a piano, have your Sunday School class over for a barbeque, or join a softball league. Any time you participate in your community, you’re generating social capital, both for yourself and for the other people involved. People with lots of social capital can find help when they need it; those with little social capital can spend a lot of time frustrated and alone.
The classic Christmas film It’s a Wonderful Life is a great illustration of social capital. Jimmy Stewart plays George Bailey, a man who repeatedly forgoes his own interests to help his friends and neighbors. It costs him — financially and mentally. When disaster strikes, Bailey decides he’s worth more dead than alive, and plans to commit suicide so that the proceeds from his life-insurance policy can set things right.
In the end, Bailey is saved when all the folks he’s made sacrifices for over the years come to his aid. Sure, it’s a schmaltzy, feel-good moment, but it’s a fine example of social capital in action. When Bailey’s brother declares that George is “the richest man in town”, he’s not joking: Bailey may no have much financial capital, but he’s flush with social capital.
You don’t have to sacrifice your own interests to create social capital. You can often create win-win situations where everyone profits. But the best way to build social capital is to help others without expecting anything in return.
There’s more to wealth than just money. Social capital is just as real as financial capital — and often more valuable.
Note: For an in-depth look at social capital, pick up a copy of Bowling Alone by Robert Putnam. But be warned: It’s a dry read.
The extraordinary power of compound kindness Social capital comes from building a broad network of relationships, a network that you can draw upon to help yourself and help others. This isn’t networking in the smarmy, slimy sense, but in the authentic “I’m your neighbor and your friend” sense. A complex network of people will have thousands (millions!) of connections, creating a powerful web of support. (You can see great examples of this in Ben Franklin’s autobiography and in Keith Ferrazzi’s Never Eat Alone.)
These networks are usually built through everyday kindnesses. These actions compound (just like compound interest) to yield larger returns in the future. From my trip to Alaska, here are some examples of the sorts of small actions that help create community and help build social capital:
Southeast Alaska is peppered with small villages separated by large expanses of water. Boaters (and not just my skipper John) stop to check on each other, and on the people they know in out-of-the-way spots.
Another way to cope with this isolation is book exchanges. Many of the small airports and harbors contain bookshelves where folks can discard the books they’ve finished and pick up new ones. This is a brilliant idea!
We had miserable luck crabbing and fishing during the first part of our trip. One night, a small charter boat invited us over to share in the halibut they’d caught earlier in the day. Later, after we finally caught and filleted our first salmon, we handed off some of the meat to a passing boat.
Some of the summer boaters actually live in southeast Alaska. These folks have vehicles in their home towns, and they share them with other boaters they know well. When we docked in Sitka, for example, we were able to borrow a truck from Sailboat Bob so that we could run our errands and drive to dinner.
Every morning at 6:30, John gets on his ham radio to check in with the Great Northern Boaters Net, where dozens of different boats check in throughout the week, giving updates on their progress. This allows folks to keep tabs on each other, to ask for and receive advice.
These are just a few of the ways I saw social capital in action during my trip; there were many other examples, both large and small. Taken together, the community spirit I saw was amazing.
Social capital in real life Social capital plays an active role in your life, too. The broader your circle of friends, the bigger your family, the better you know your neighbors, and the more involved you are in your community, the more social capital you have. (And the more social capital you contribute to others — it’s a reciprocal thing!)
The Dark Side of Social Capital. As great as social capital is, it’s not without its downsides. Though they’re built on the same stuff I’m talking about here, Good Ol’ Boys networks can make it difficult for outsiders to become part of a group. Some people contribute only with the expectation of return. This sort of manipulative behavior leads to minor versions of Don Corleone from The Godfather: They’ll do you a favor, but only because they want you to owe them. For social capital to be productive, it has to promote the welfare of the community.
Here are some everyday examples of how you and I generate social capital:
When I loan my rototiller to a friend, that builds social capital. When I then crash my bike and have to ride to his house for first aid (yes, this really happened), that generates social capital.
When your community comes together to clean up a run-down park, that generates social capital.
You create social capital when you join a bowling league, a knitting circle, or a book group. You create social capital when you go to church or join a social club.
When you stop to help a stranded motorist, you’re creating social capital.
Social capital grows when you share the surplus from your vegetable garden with your neighbors and co-workers.
As you can see, social capital is most often generated by doing things that help other individuals — or your community. It exists everywhere, but some places have more of it than others.
I’m not sure why I was so struck by the community ties I saw in Alaska. Are these ties really stronger than elsewhere? Were they just more obvious because they took different forms than I’m used to? How can I learn to see (and contribute) to the social capital here in Oak Grove, Oregon?
I don’t have the answers to these questions, but I’ll certainly be thinking about them a great deal during the coming weeks. As I say, social capital is always lurking in the background here at Get Rich Slowly. There’s more to being rich than just having a lot of money; there’s real wealth in having a large network of friends, too.
Also don’t forget to follow Get Rich Slowly on Facebook and Twitter.
Inside: Are you looking for a remote job? This guide will help you find the best remote jobs for college students, with information on industries, pay, hours, and more.
The internet has made it possible to work from anywhere in the world.
This is great news for college students who want to earn some money while they study.
Back when I was in college, working remotely wasn’t even considered a possibility. But, now, there are a number of online jobs available that are perfect for college students.
In addition, remote jobs are one of the best ways for college students to make money and gain experience.
With a remote job, you can work from anywhere in the world, which is perfect for students who want to travel or live at home with their parents while transitioning to and from a college campus.
There are many different types of remote jobs available, so there is sure to be something that suits your skillset and interests.
In this article, we will explore the best remote jobs for college students.
How can a college student make money remotely?
Remote work has become increasingly popular among college students and for good reason.
Many students today have grown up with technology and possess the skills necessary to excel in remote jobs.
Not only does remote work provide a flexible schedule that can be easily adjusted to accommodate class schedules, but it also offers numerous benefits such as the ability to work from anywhere, reduced transportation costs, and the opportunity to contribute to environmental sustainability by reducing carbon emissions.
Additionally, remote work allows students to earn extra income, potentially reducing their reliance on student loans and minimizing post-graduation debt.
Can I work remotely in college?
Yes! Working remotely in college can be a great way to earn some extra money and gain some work experience.
Remote work has gained immense popularity across the globe, with its adoption nearly doubling since the pandemic.
As college students, you often possess the necessary tools for remote work, such as a laptop, making it a convenient option for them.
This is a great idea if you are looking at how to pay for college without loans.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
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The 15 best remote jobs for college students
Working remotely is a great way for college students to earn money and gain experience in their chosen field.
Whether you are looking for a way to make some extra money, or maybe you need a flexible job that will fit around your studies. Whatever the reason, there are plenty of remote jobs out there that could be perfect for you.
Also, you can review these non phone work from home jobs for more ideas.
Here are 15 of the best remote jobs for college students.
1. Virtual Assistant
A virtual assistant is one of the best remote jobs for college students due to its versatility and learning opportunities. Plus there are plenty of virtual assistant jobs with no experience out there.
As the demand for remote administrative support services continues to grow, virtual assistants play a crucial role in helping companies and individuals with various tasks. Working from a remote location, virtual assistants provide administrative assistance by handling phone calls, scheduling appointments, managing emails, and more.
By finding a position as a virtual assistant in their desired industry or with a respected professional, students can make their side hustle more beneficial to their future.
Benefits:
Provides an opportunity to gain professional experience and develop essential skills such as communication, time management, and resourcefulness.
Requires quick thinking and the ability to switch between diverse tasks, which enhances cognitive flexibility and adaptability.
Allows students to learn about different industries and gain insights into their chosen career paths.
Pay: Most virtual assistants average about $20 an hour.
2. Online Tutor
Online tutoring is widely regarded as one of the best remote jobs for college students. With its flexibility and convenience, it offers students the opportunity to work from anywhere at their own pace.
Whether they excel in a specific subject or want to gain teaching experience, online tutoring provides a platform for college students to share their knowledge and help others succeed academically.
Benefits:
A high degree of flexibility it offers.
Freedom to choose their own hours, instruction topics, and the number of students they want to work with.
Balance their tutoring responsibilities with their academic commitments, ensuring they can effectively manage their time.
Pay: Although the reported median hourly wage for tutors was $17 an hour. The actual pay can vary depending on factors such as the subject being taught, the level of expertise required, and the platform through which tutoring is conducted.
3. Proofreader
Proofreading is a crucial role in the final stages of the written content production process, making it one of the best remote jobs for college students. A proofreader possesses a keen eye for detail and a strong command of the language, allowing them to identify and rectify errors that may have eluded the writer or editor.
They play a vital role in ensuring the accuracy, clarity, and coherence of written materials across various industries.
Benefits:
Offer the flexibility to work from anywhere, making it ideal for college students who need to balance their studies with work.
Enhances skill development such as language skills, attention to detail, and critical thinking abilities, which are valuable in various fields.
Networking opportunities to build professional connections and expand one’s network.
Pay: The average pay for proofreading jobs is $22 per hour, providing college students with a valuable source of income.
4. Social Media Manager
In today’s digital world, social media has become an essential tool for businesses to connect with their target audience, build brand awareness, and drive engagement. With the increasing importance of social media, businesses are in need of skilled professionals who can effectively manage their social media presence.
This makes the role of a social media manager one of the best remote jobs for college students, providing them with the opportunity to earn money while gaining practical experience in online promotion.
Benefits:
Enjoy being paid to be on your favorite social media apps.
Ideal remote job for college students due to its flexibility.
Gain practical experience in online promotion, which can be valuable for those studying marketing, journalism, or communications. Benefits:
Pay: The pay for social media management can vary significantly, but you can expect $15 an hour to $25 an hour.
5. Freelance Writer
Remote writing jobs are an excellent option for college students looking to earn extra income while honing their writing skills.
As writers, college students have the opportunity to create a wide range of written materials that can be distributed through various channels, such as articles, blogs, website copy, and more.
The demand for remote freelance writers is high, making it a popular choice among college students seeking flexible work options.
Benefits:
Freelancers can work on short and long-term projects.
As long as you have a computer and internet connection, you can work from anywhere.
Showcase writing skills and earn income.
Pay: The pay for freelance writers is by the word (.01-$1.50 per word). With most freelance writers averaging about $29 an hour.
6. Social media influencer
Social media influencers have become a prominent and lucrative career option in today’s digital age.
For college students, becoming a social media influencer can be an excellent remote job opportunity that allows them to leverage their online presence and pursue their passions while earning money.
To stand out as a social media influencer, it’s essential to create content that is visually appealing and captures the attention of your audience. Experiment with different types of content, such as photos, videos, stories, and live streams, to keep your followers engaged.
Benefits:
Be creative, and authentic, and share valuable information or entertainment that aligns with your niche.
Foster a sense of community.
Monetize your social media presence with sponsored posts, brand partnerships, and affiliate marketing.
Offers flexible working hours, allowing you to manage your studies and other commitments effectively.
Provides opportunities for personal branding and networking, which can open doors to other remote job opportunities in the future.
Pay: Potential for high earnings. This is more passive income than an hourly job.
7. Website or App Tester
Website and app testing is a highly sought-after remote job option for college students due to its flexibility and the opportunity to gain valuable experience in the tech industry.
As designers and developers strive to create the best user experience possible, they often hire individuals to find bugs and issues in their websites and apps. The role of a website or app tester is crucial in ensuring the functionality and usability of these digital platforms.
This feedback is invaluable for designers and developers as it allows them to make necessary improvements and optimize the performance of their websites and apps.
Benefits:
Excellent opportunity for college students to develop and showcase their skills in a professional setting.
Gain practical experience in the tech industry while balancing their academic commitments.
The flexible hours offered by these remote positions allow students to work at their own pace and manage their time effectively.
Pay: Platforms like UserTesting offer a payment of $10 per website tested. You can also find remote hourly wages ranging from $12 an hour to $16 an hour, with potential bonuses based on quality and productivity goals.
8. Video Editing
With the increasing demand for video content across various platforms, video editors play a crucial role in creating engaging and impactful visuals. This profession offers the opportunity to work from anywhere, making it ideal for college students who may have limited availability or prefer a flexible work schedule.
By adhering to the overall video brand messaging strategy, you can shape the final product and captivate the audience. This creative aspect of video editing allows college students to explore their artistic talents and develop their skills in storytelling and visual communication.
Benefits:
One of the key advantages of video editing as a remote job is the ability to work from any location.
Provides a platform for creative expression.
Video editing is a profession that is in high demand.
This high demand translates to a wide range of job opportunities and the potential for steady work, even for college students.
Pay: When it comes to money, beginner video editors can typically charge up to $45 an hour. However, it’s worth noting that rates can vary depending on factors such as experience, the complexity of the project, and client’s budget.
As college students gain more experience and build a strong portfolio, they can potentially increase their rates and earn a higher income from video editing projects.
9. Remote Research Assistant:
Many professors and researchers hire remote research assistants to help with data collection, literature reviews, and other research tasks. This type of job requires strong research and analytical skills, as well as the ability to work independently.
As a research assistant, you will have the opportunity to delve deeper into a specific subject or area of interest.
This can be particularly beneficial if you are considering pursuing further education or a career in that field. By immersing yourself in research projects, you will gain a comprehensive understanding of the topic and develop expertise that can set you apart from others.
Benefits:
Opportunity to work closely with experienced researchers and professionals in your field of interest.
Gain valuable insights, knowledge, and skills that can enhance your academic and professional development.
Learn research methodologies, data analysis techniques, and critical thinking skills that are highly transferable to future career opportunities.
Hands-on experience in conducting research projects.
Build a network of professional contacts in your field.
Depending on the nature of the research projects you are involved in, there may be opportunities to contribute to academic publications or presentations. This can be a significant achievement that adds to your academic portfolio and demonstrates your research skills to potential employers or graduate school admissions committees.
Pay: Compensation for remote research assistant positions varies depending on the project and the level of responsibility. This is a great way to be paid to go to school.
10. Audio Transcription
Audio transcription is a popular remote job for college students that involves listening to audio files and accurately transcribing the spoken content into written form. Additionally, it provides an opportunity to develop valuable skills such as speed and accuracy in typing, excellent listening skills, and efficient time management.
Determine the type of transcription work you want to specialize in, such as technical legal transcription or educational podcast transcription. This will help you target specific clients and tailor your skills accordingly.
Benefits:
Offers flexibility in terms of scheduling, allowing students to work around their classes and other commitments.
Opportunity to develop valuable skills such as listening, typing, and time management, which can be beneficial in various professional settings.
Create a portfolio showcasing your transcription skills and experiences.
Pay: Transcription can be a well-paying job, with freelancing gigs offering up to $0.36 per minute of transcribed audio.
11. Data Entry
Data entry is a popular remote job option for college students due to its flexibility and convenience.
This role involves managing electronic data by entering and updating information in computer systems. It is a job that can easily be done remotely, allowing students to work from the comfort of their own homes or dorm rooms.
However, it is important to be cautious when seeking data entry jobs online to avoid scams.
Benefits:
Minimal specialized skills are required.
Data entry skills can also be beneficial for future career opportunities.
Employers often value individuals with data entry skills, as it showcases their ability to handle and organize large amounts of information accurately and efficiently.
Valuable experience in working with digital documents and databases.
Pay: The average pay for data entry is $18 an hour.
12. Virtual Recruiter
A virtual recruiter is a professional who is responsible for posting online job advertisements and searching for potential candidates to fill various positions.
This remote job opportunity can be particularly beneficial for college students as it offers flexibility in terms of working hours and allows them to gain valuable experience in the field of recruitment while still pursuing their education.
Benefits:
Collaborating with hiring managers and clients to understand their specific requirements and preferences for potential candidates.
This role provides hands-on experience in recruitment, which can be beneficial for your future career in HR or related fields.
Building relationships with candidates, hiring managers, and clients can expand your professional network and open doors for future opportunities.
Pay: The average pay for virtual recruiters is around $20 to $30 per hour, providing the potential for a lucrative income.
13. Blogger
College students can create their own blogs and build an audience by regularly posting content in a unique niche.
While this may not be the easiest route to make money fast, it provides an opportunity to showcase writing skills and develop a cohesive writing style. Once a blog gains a solid stream of visitors, it can be monetized through ads and affiliate links.
However, you will be starting a small online business which has its perks.
Benefits:
This is 100% passive income.
Works as much as you want or as little as you want on your site.
A simple way to help your readers while making money.
Your site can grow as you graduate college until you decide to sell it.
Pay: Various based on traffic and monetization. But it is an easy way to invest $100 to make $1000.
14. Course Creator
As a course creator, you have the chance to teach others about a topic or course that you are passionate about while earning a steady passive income. This job allows you to create online tutorials or how-to videos to educate and engage students from all over the world.
You will be responsible for creating and managing the content on your website and other online platforms. This includes developing blog posts, videos, podcasts, and other educational materials to enhance the learning experience for your students.
Make use of hosting platforms like Thinkific, Teachable, or Kajabi to facilitate easy access to course-related information for your students. These platforms offer features such as course management, student progress tracking, and payment processing, making it convenient for both you and your students.
Benefits:
Opportunity to earn a steady income while pursuing your passion and sharing your knowledge with others.
Working remotely offers flexibility in terms of working hours, allowing students to manage their time effectively and balance their studies with their job.
Gain valuable experience in content creation, marketing, and online teaching, which can greatly enhance their resume for future career opportunities.
Pay: This is a passive income job where you will put the work in upfront and have less ongoing maintenance to run your course.
15. Stock Trader
Stock trading is a lucrative and dynamic field that offers college students the opportunity to work remotely and earn a substantial income. With the rise of online trading platforms and the increasing popularity of investing, stock trading has become a highly sought-after skill in today’s market.
Honestly, I know more and more high school students waiting to turn 18, so they can start life as a stock traders.
As a stock trader, you will be responsible for buying and selling stocks, bonds, and other financial instruments for your own portfolio. This role requires a combination of analytical skills, market knowledge, and the ability to make quick decisions under pressure.
Continuous learning and staying updated on market trends and strategies are crucial to staying competitive in this field. I highly recommend taking the Trade and Travel course to learn the basics of stock market investing.
Successful traders can earn substantial profits, but it is important to note that trading also involves the risk of financial losses.
Benefits:
Stock traders have the potential to earn significant income through their trading activities. Learn how fast you can make money in stocks.
Flexibility to trade before class and work from anywhere with an internet connection.
Opportunity to work independently and be your own boss, setting your own schedule and goals.
However, it is important to acknowledge the challenges that come with being a stock trader. The stock market is highly volatile and unpredictable, requiring constant monitoring and adaptation to changing market conditions.
Pay: Various significantly with your profit /loss ratio. But, a great way to make $1000 a day.
16. Customer Service Agents
Customer service agent remote jobs are a great option for college students looking to gain work experience while studying. These jobs allow students to provide excellent customer service from the comfort of their own homes, offering flexibility and convenience.
Remote customer service agents interact with customers through various communication methods such as phone, chat, and email. They answer customer questions, solve problems, and direct customers to the appropriate resources when needed. These jobs can be done part-time, making them ideal for students with busy schedules.
Benefits:
Require little experience or education.
Develop valuable skills such as communication, problem-solving, and time management.
Showcase their communication skills to future employers, which is a highly desirable quality in any job.
Pay: Earnings can range from $10 to $25 per hour, depending on the role and experience.
17. Photography
Photography is a form of artistic expression that allows college students to showcase their creativity.
You can experiment with different styles, compositions, and subjects to capture unique and visually appealing images. This creative aspect of photography can be fulfilling and enjoyable for college students who have a passion for visual arts.
Benefits:
Choose when and where to take photos, giving them the freedom to balance their academic and personal lives effectively.
Build a portfolio of their best work. A strong portfolio can open doors to more significant opportunities in the future, such as exhibitions, collaborations, or even full-time photography careers.
Earn income while honing their skills in product, stock, or event photography.
When stock images are licensed, earn passive income from the sales.
Pay: When it comes to pay, the average rate for a photographer is $24 per hour. However, it’s important to note that pay can vary depending on factors such as experience, location, and the type of photography gig.
18. Virtual Internships
Virtual internships provide valuable work experience and allow you to gain industry-specific skills while working remotely. Many companies offer virtual internships in fields like marketing, finance, and technology.
Having an internship in the field you want to pursue is an invaluable opportunity to gain practical experience and enhance your career prospects.
Additionally, virtual internships can provide you with a unique perspective on the field you want to pursue (and if you still want to pursue it).
Benefits:
Gain relevant work experience in your desired career field.
Practical experience will not only enhance your understanding of the industry but also demonstrate your competence and dedication to potential employers.
Greatly strengthen your resume.
Build a network of contacts in your desired field.
Pay: These internships may be paid or unpaid, but the experience and connections you gain can be invaluable for your future career.
Looking for Online Summer Job?
There are a plethora of online summer temporary jobs available for college students. You just have to decide what is interesting for you to do.
Also, think about ways you can build your resume for future employment after graduation.
If I could go back to college, I would focus on learning how to make your money work for you. That is one of the best life skills you can truly understand.
This list above has plenty of options for you to consider.
Are you passionate about words and reading?
If so, proofreading could be a perfect fit for you, just like it’s been for countless of readers! Learn how you can create a freelance business as a proofreader.
Check out this free workshop!
Bookkeeping is the most stable, reliable & simple business to own. This is how to make a realistic income -either part-time or full-time.
Find out TODAY if this is THE business you’ve been looking for.
FAQ
Many colleges and universities have career centers or job boards that specifically cater to remote job opportunities for college students.
Networking is crucial for college students when it comes to finding remote job opportunities. Reach out to your professors, classmates, and alumni who may have connections or knowledge of job opportunities.
This is smart if you want to know how to move out at 18.
Remote work requires a unique set of skills that allow individuals to effectively perform their job duties from a distance. In order to succeed in a remote job, college students should possess the following skills:
Time management: Remote work often provides flexibility in terms of scheduling, but it also requires individuals to manage their time effectively. College students need to be able to prioritize tasks, set deadlines, and stay organized to ensure they meet their work obligations.
Communication skills: Since remote work involves limited face-to-face interaction, strong communication skills are essential. College students should be able to effectively communicate through various channels such as email, instant messaging, and video conferencing.
Self-motivation: Working remotely requires a high level of self-discipline and motivation. College students need to be able to stay focused and productive without direct supervision. They should have the ability to set goals, stay on track, and meet deadlines without constant oversight.
Adaptability: Remote work often involves working with different tools, technologies, and platforms. College students should be adaptable and willing to learn new software or applications that are necessary for their role.
Problem-solving: Remote work may present unique challenges and obstacles that require critical thinking and problem-solving skills. College students should be able to analyze situations, identify potential issues, and come up with innovative solutions. This skill is particularly important when faced with technical difficulties or communication issues.
By honing these skills, college students can position themselves as valuable assets to remote employers and increase their chances of securing remote job opportunities.
When you’re applying for remote jobs, most of the time your potential employer will want to see some kind of portfolio that showcases your skills and experience.
You can create a portfolio by using a free online portfolio builder or by creating your own website.
With a visually appealing and user-friendly portfolio, you can make a lasting impression and increase your chances of landing your dream remote job.
Which Online Jobs for College Students Are Interesting To You?
There are a lot of great remote jobs for college students out there!
With a little bit of research, you can find the perfect job for your skills and interests.
Be sure to consider the pay, hours, and industry when you are looking for a remote job as well as career advancement.
For many students, working in college is a must! Because you know how to pay for college without parents is hard.
So, use these ideas to find the right job for you whether it is part-time or full-time.
And if all else fails, check out this list of low-stress jobs that pay well without a degree.
Know someone else that needs this, too? Then, please share!!
So you’ve been using the same outdated title production software for years and feel like you’re no longer getting the most bang for your buck. As your business grows, you need efficient software that can grow with you, but some questions hold you back. The four most common questions we hear from title professionals about their concerns with switching their software are:
What are the benefits of switching?
How will our team know how to use a new system?
Will our data be safe?
How much will it cost?
Follow along below for tips on addressing each of these questions and making a potential software transition as smooth as possible.
What are the benefits of switching?
New technology is changing the title industry at lightning speed. With a simple transition to new software, you can have all the tools you need to operate in this modern environment at peak efficiency. Some of the most sought-after benefits of the industry’s state-of-the-art technology are:
Out-of-the-box solutions that meet your immediate needs on day one
Customizable systems (with customizable prices) that can grow with your business as your needs expand
Automated processes to avoid repeating actions throughout the title process
Easy access to online tools like RON, eSign and secure wire transfers
Connections to all of your closing, title and escrow vendors in one place
If you’re considering making a switch to a different title production system, it’s important to determine if they have the technology and features you need to make your office more productive. And while the benefits of these added features may speak for themselves, you may still wonder about the process of actually switching and learning the new system. Follow along for more insight into how to make the transition process quick and easy.
How will our team know how to use a new system?
It may seem daunting, but getting to know your system can be broken down into three easy steps. The most important step toward mastering your new software system is gathering the input of your entire team to determine what tools and features everyone needs to succeed. Once your team makes those critical decisions, your software provider should create an easy roadmap for you to become an expert in no time.
Decide
There are many exciting decisions to make while switching or upgrading your software. It is essential for the entire team — from top managers to frontline employees — to be involved in the decision-making process. Taking the time to decide on the right features, tools and add-ons creates endless possibilities for your business. Though with the right software provider, there shouldn’t be any pressure to make every decision upfront, as you should always be able to add customizations down the road.
Learn
Once you decide what tools and features you need, it’s time to learn how to use them like a pro. Your software provider should have as many training opportunities as possible for you to be a pro on your first day using the new system. Studies show that in-person training is the most effective, but you should also have the option to participate in virtual sessions, especially if you need to accommodate remote employees in multiple locations.
Test
Testing your new software system is the final step before it goes live. Your new software should allow you to use sample files to test the new system before launching the real thing. This way, if you run into any problems during the test phase, you can fix them without interrupting your work.
These steps should allow you to overcome any learning curve before going live. Your customers and team members will only notice how much more efficient the process is rather than any bumps in the road.
Will our data be safe?
Title companies make extraordinary efforts to keep their client’s data safe. Your title software provider should place the same emphasis and importance on data security. But with outdated software, your client’s data may be vulnerable. Updating your software will give you access to the critical internal security measures that every software provider should have. These include:
Encrypted methods to transfer all data
Secure internal folder locations so only employees working on your account can access your information
Secure online meeting applications to communicate banking information
Ability to permanently delete any email containing sensitive information from the software provider’s system
A system of secure file transfers to move sensitive data internally
How much will it cost?
When switching software providers, the cost will heavily depend on:
The size of your organization
The number of states in which you operate
The number of employees who will use the software
Whether you complete both commercial and residential transactions
It’s a good idea to find a software provider that will allow you to start out with a standard framework that you can build on over time, especially if cost is a concern. Start small and make sure the software allows you to add more customized solutions later as your business grows. With a reputable software provider, you should never be surprised by hidden fees, sudden unreasonable increases or changes to the pricing structure of your title and escrow production system.
There should be no goodbye
Once your new system is fully implemented, you might think your software provider’s job is done. Not when you use SoftPro. We’re with you side by side the entire time you use our products. We’re your partners long after your implementation is complete to offer you any support you need. As your business grows, we’re here to grow with you. We take pride in building strong relationships with our customers and providing the best service in the industry. But don’t take our word for it, our customers speak for themselves. As your business grows, we’re here to grow with you.
If you’re ready for a new software partner or want to bring your SoftPro system to the next level, contact us or give us a call at 800-848-0143 today.
For a deeper look into all of the questions and answers above, click here to read SoftPro’s blog.
The world as we know it has completely changed in just a matter of days. This has resulted in many of us learning a new skill set to effectively work from home or how to socially distance ourselves. As citizens of the United States, we are all in this together (just as Ashley Tisdale’s TikTok says!).
For the population of Americans who have been working from
home for years, please skip to part two of this post. For those of us who are
new to this concept, I wanted to share tips that I have gotten from some of my
favorite bloggers, as this is my first time working from home. Here are a few
of my favorite take-aways:
Working from home tips:
Keep your routine.
Yes, you are not going into your office
anymore, however, you should keep your routine of you 8-hour day. If you
normally begin your day in the office at 9am stick to that time and begin
working at 9am. This will help keep some normalcy in your routine that your
body is already accustomed to. Try to also wake up and go to bed at the same
time.
Dedicate a separate place for eating, working, and sleeping.
This may sound easier than you think.
However, think back to your high school or even college when you would relax in
your room, do homework in your room, eat in your room, etc. My bet is that you
were not very productive when doing homework, or maybe even had trouble
sleeping. This is why separating the areas is important. Also, you still
technically are “going to work” this way!
Get ready every day.
When I was younger, my mom always said “look
good, feel good, do good.” What she meant by this was that when you dress up
you feel better about yourself and in return you have a positive &
productive day. This is something that I live by. Try to take note of what
clothes make you feel the most productive and replicate that!
Dani Austin states “business on the top, party on the bottom”.
When you are working from home, team meetings
are done through video or audio. If you don’t want to completely get ready for
the day, just get ready “on the top” and keep your sweatpants or leggings on.
Plan your days.
Keeping yourself organized will help in the long run. Also, creating list of to-dos and crossing off the things that you have done will allow you to share your productivity easily with co-workers when asked. If you need a source to stay organized, Trello is a great place to start!
General everyday tips:
We have been hearing through multiple sources, “don’t go out
unless you need to”, but as social beings, this is easier said than done. Here
are a few tips that I have found to be helpful.
Stay or become active daily.
With gyms being closed and the weather getting nicer, use this time to look at the world as your gym. Get outside and breathe the fresh air. You can track your activity and donate to those less fortunate by downloading “Charity Miles” on your phone. This will allow you to track your daily activity and donate to a charity of your choice. “Fresh air will do you good.”
Support your local small businesses.
Yes, Starbucks may be your favorite coffee
and it sure is delicious, however, that mom and pop shop down the road from a
franchise is going to suffer a little more than larger corporations. Your mom
and pop coffee shop will appreciate you taking the time to support their
business.
Read a book.
Easier for those who love to read, however,
if you have always wanted to get into reading this is a perfect time. Start
small and set a daily goal for yourself.
Learn something new.
Listen to podcasts, sign up for Skill Share, or simply put time into something that you have always wanted to do or learn. Before you know it, you will be a pro.
Spring Cleaning.
You have been given the perfect opportunity
to use time to spring clean your home. Get rid of things that you no longer
need or want.
While this change is going to take time to get used to,
remember to reach out to friends and family that you cannot be around at the
moment. Only time will tell if the actions we are taking now are going to be
beneficial in the future. However, to keep us sane, I hope everyone found these
tips helpful. Stay positive and be kind to others, we will get through these
times.
Extras:
Think about the content you are consuming.
Upbeat music. Playlist suggestion here!
Watch your favorite feel good movies & TV shows.
Thank medical professionals.
They go to work every day to save lives. We
can all stay home to help them out.
Be kind to everyone.
Everyone had their lives turned upside down
in different ways. Seniors in high school and college, those that had to put
off large life events, it is different for everyone.
Stay healthy and safe everyone.
Carter Wessman
Carter Wessman is originally from the charming town of Norfolk, Massachusetts. When he isn’t busy writing about mortgage related topics, you can find him playing table tennis, or jamming on his bass guitar.
Two years ago, policymakers at Los Angeles City Hall came up with a plan to dramatically increase the number of new homes that could be built in downtown L.A., part of their larger strategy for addressing the region’s rapidly rising housing costs.
The city’s planning department released DTLA 2040, a 20-year road map for growth that, if approved by the City Council, would increase downtown’s housing supply by up to 100,000 units. That’s enough to satisfy one-fifth of the need citywide, planners say.
But a key element of that plan has drawn fierce opposition from some of downtown’s lowest-wage workers, who fear that new condominiums and apartment towers will push out garment businesses. Those workers, and their allies in organized labor, succeeded last week in adding new language to the plan in the hope of securing “no net loss” of sewing factories and other fashion-related businesses.
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Organizers with the downtown-based Garment Worker Center say those last-minute changes will protect thousands ofjobs, in an industry fueled by working-class Mexican and Guatemalan immigrants.
Business leaders, on the other hand, warn the new restrictions would render as many as 12,000 residential units in the DTLA 2040 plan financially infeasible, at least for the immediate future, undercutting efforts to expand the housing supply and make headway on the region’s affordability crisis.
“Each one of those 12,000 units matters,” said Nella McOsker, chief executive of the Central City Assn., a downtown-based business group. “If we begin chipping away at [the plan] piece by piece, with these last-minute decisions that undermine the larger goals of the plan, we reduce downtown’s ability to alleviate this crisis.”
Daisy Gonzalez, campaign director at the Garment Worker Center, said L.A.’s fashion sector has been neglected for too long and deserves the type of care and attention that policymakers have devoted to the entertainment industry. Gonzalez, whose group seeks to safeguard the wages and working conditions of apparel workers, resisted the notion of housing and jobs as an either-or proposition.
When it comes to downtown, Gonzalez said, keeping workers in their homes means keeping them employed.
“Garment workers are really in need of their jobs in order to pay for housing. The two things are interconnected. We’re not trying to pit the two things against each other,” she said.
That back-and-forth reflects the city’s larger ongoing debate over how to build more housing without also triggering serious displacement. And it has focused attention on a sector of the economy overshadowed by the entertainment industry.
The City Council is scheduled to vote on the DTLA 2040 plan on Wednesday, along with a second, major growth strategy: the long-delayed update to the Hollywood Community Plan, which was blocked by a judge in 2013 and later rewritten.
Those two documents will set out the rules for developing new homes, offices, sound stages and other projects in Hollywood and downtown. Both plans have new provisions aimed at reducing displacement, boosting the production of affordable housing and extending the life of those affordable projects.
The downtown plan stretches from the Convention Center east to the Arts District and north to Chinatown. However, much of the debate in recent days has focused on the Fashion District, home to an estimated 20,000 garment jobs. The most contested terrain is a slice of the Fashion District bounded roughly by 7th Street on the north, 17th Street on the south, Crocker Street on the east and Santee Street on the west — an area city planners now call the IX3 zone.
The DTLA 2040 plan would prohibit industrial buildings in the IX3 zone from being converted into lofts or hotels. However, developers would be permitted to construct mixed-use development — buildings that have both apartments and space for “productive” uses, such as sewing factories or other types of light manufacturing.
Until recently, the proposal called for developers in the IX3 zone to provide 5,000 square feet of productive space for every 10,000 square feet of land. But last week, the Garment Worker Center — working closely with Unite Here Local 11, the politically powerful hotel workers union — persuaded a City Council committee to rewrite that provision, doubling the amount of required manufacturing space.
Those groups argued that such changes would help protect communities from “luxury commercial development.”
“Hospitality and garment workers need more affordable housing, not more development that could threaten where we live or we work,” said Juan Muñoz-Guevara, a researcher with Unite Here Local 11, at a rally last week.
Hours later, the council’s Planning and Land Use Management Committee voted to double the amount of manufacturing space required in new residential projects proposed in the IX3 section of the Fashion District. The five-member panel also endorsed a provision requiring that new development projects in that area include freight elevators, loading docks and loading bays — the kind that can accommodate heavy machinery and large rolls of fabric.
Councilmember Curren Price requested the increase in required manufacturing space. Councilmember Kevin de León pushed for the inclusion of the freight elevator requirement, saying in a letter that it would “ensure efficient business operations” for garment manufacturers.
Those two changes, if approved by the council, would make about 12,000 of the planned housing units in the DTLA 2040 plan financially “infeasible” — at least for the near future, according to the city’s planning staff. Although market conditions for residential development could eventually change, the expanded elevator and manufacturing space requirements would prevent builders from achieving a “reasonable profit,” they said.
McOsker, the executive at the Central City Assn., said as many as 2,000 of the 12,000 units sought by the city in the IX3 zone would have been designated as affordable. She also argued that the DTLA 2040 plan already had safeguards to protect garment jobs, striking a balance between housing and industry.
“We don’t have any evidence that changing the [plan] saves jobs,” McOsker said. “We do know, and strongly believe, it will kill housing projects before they even begin.”
Anthony Rodriguez, executive director of the L.A. Fashion District Business Improvement District, also spoke against the changes to the downtown plan, saying they will risk the loss of residential units amid a citywide housing crisis. Manufacturing and warehouse space in the IX3 zone already has an 18% vacancy rate, which shows a lack of demand for new garment-related businesses in downtown, he said.
Price spokesperson Angelina Valencia-Dumarot said Tuesday that her boss learned only this week that some of the late changes to the DTLA 2040 plan could result in a reduction in new housing. The council member intends to seek a report on the issue while the city attorney’s office conducts its legal review of the downtown zoning plan, Valencia-Dumarot said.
“Fact is, we have anywhere between six months to a year before the plan is finalized,” she said in an email. “There is still plenty of room for the conversation to evolve.”
Gonzalez, the campaigns director for the Garment Worker Center, said she already views the downtown plan as a compromise, since council members did not agree to all of the changes requested by her group.
“We understand that housing production is extremely important,” she said. “But so are jobs. So we need to really strike a balance.”
But here’s the rub: His task of helping the company’s originators optimize their volume comes on the heels of significant losses for the company – revenue of $207.9 million, down 58.7% over the same period last year for the fourth quarter ended March 2023. Total revenue declined from $3.7 billion during 2021 to $1.3 billion … [Read more…]
There have been a lot of so-called mortgage disruptors entering the space of late, but this might be the biggest yet. Could Amazon Mortgage be in the works? One recent clue says yes.
Earlier this week, HousingWire noted that Amazon appears to be in the process of setting up a mortgage shop, and is apparently hiring talent from a nonbank in the top 10 HMDA lenders.
I believe that includes the likes of Quicken Loans, loanDepot, and Caliber Home Loans, though it’s unclear if any of their former employees are actually involved.
All the publication could say beyond that is Amazon is looking for someone to head up their “newly-formed mortgage lending division.”
A 1-Click Mortgage Sounds Kind of Nice, But…
Amazon makes shopping really easy
Allowing millions of customers to buy millions of items with one click
But mortgages are a different beast
Though the hope is technology will make them a lot easier and faster
If you use Amazon, which I’m going to assume you do, you’re probably familiar with how easy they make everything.
For example, you can setup 1-click ordering that allows you to purchase items you see on the site with a single click of the mouse.
Or you can use a Dash Button to quickly reorder an item you use on a regular basis. You can also get most items delivered to your door in two days, though getting a mortgage in two days is another story.
While home loans will inevitably never be this simple, Amazon does seem to have a knack for making things a little less painful.
Some of the disruptors like Better Mortgage, Rocket Mortgage, and SoFi are already making things easier by allowing loan documentation to be pulled direct from the source, instead of having to print it out and upload it.
I’m not sure how Amazon would innovate in this space, but I’m sure they’d think of a way to do things faster, and perhaps in a more productive fashion while maybe driving the price down.
It probably wouldn’t be good news for mortgage loan officers, who could stand to lose their jobs to automation.
Why Would Amazon Want to Offer Home Loans?
If you’re wondering why Amazon would bother with mortgages
It might be because they see a big opportunity to disrupt
A very antiquated business model that hasn’t changed much in decades
New lines of business are the only way to grow bigger
The next logical question is why? Why on earth would Amazon want to get into the loan origination game? Don’t they realize how chaotic and stressful this business is?
Well, maybe that’s exactly why. Maybe they see an opportunity to make something that hasn’t changed for a long, long time, better.
They recently announced plans to fix the healthcare system, an initiative partly driven by the fact that Amazon has some 840,000 employees to take care of.
Amazon also recently launched a generic line of medicine called “Basic Care” to compete with the likes of Advil and other household names in the space.
Maybe they want to make it easier for their near-million strong workforce to buy homes too, or refinance their existing mortgages.
It’s hard to say right now. The more likely reason is they might just want to be involved in everything.
After all, with a market cap of around $762 billion, it’s not very easy to grow without entering into new lines of business.
This might explain why Amazon bought Whole Foods and then launched an automated grocery store. Their latest acquisition was Ring, which makes those video doorbells.
They May Start with Basic Banking Services First
Expect Amazon to offer checking accounts
Before they offer mortgages to customers
But after that they might aim to become a one-stop financial shop
Much like what they are in the retail space today
HousingWire also mentioned that Amazon was planning to start by offering checking accounts, and then make their way into other offerings, like mortgages.
There’s already an Amazon credit card, though it’s a co-branded effort backed by Chase.
The checking account service sounds like a competitive move aimed at Walmart, which coincidentally launched a huge marketing campaign recently to tout its free home delivery service.
The ad campaign features colorful Walmart boxes and free 2-day shipping with no membership fee. So it’s clear that it’s game on.
At the moment, Walmart and Amazon employees can actually get a discount on their mortgages via a partnership with BBMC Mortgage.
BBMC offers a rate match guarantee and $1,000 off closing costs, and has loan options ranging from FHA loans to jumbo loans to USDA loans.
For the rest of us, the best we can do at the moment is buy mortgage books on Amazon. Stay tuned if and when that changes.
Amazon Buying loanDepot?
The latest rumor related to Amazon’s impending mortgage move
Is a buyout of mortgage lender loanDepot
Though it didn’t seem to be based on any real truth
But it’s been doing the rounds lately
If, and this is a big if at the moment, Amazon makes a foray into the wonderful world of home loans, they could do so via a takeover, similar to their Whole Foods purchase.
After all, it’s sometimes easier to just throw money at something than start a new venture from scratch.
One rumor that began circulating recently was a potential Amazon and loanDepot tie-up, though it didn’t seem to be based on any real truth.
Sure, sometimes whispers proceed a major announcement, and are often spot on. But in this case it sounds more like fantasy.
To squash the rumors, even loanDepot founder Anthony Hsieh took to LinkedIn (his favored social media platform) to say the following:
“Just talked to an industry titan that asked if we are under an agreement to sell to amazon. I responded how much was the deal for? Rumors are simply amazing and this one is a good one. mmca.”
For the record, mmca stands for “making mortgages cool again.” Other than that, it doesn’t sound like there’s much here.
Remote work is making people less productive than before, according to a recent survey of business leaders.
The survey, published last week by architect and design firm Vocon, found that almost 40% of business leaders nationwide said they’ve seen a decrease in productivity from their remote workforces. At the start of the COVID-19 pandemic, 56% of employers rated their remote workers’ productivity as “excellent” in an earlier Vocon survey.
Some reasons for the lowered productivity could be that workers are starting to feel as if they’re missing out by not being able to connect with their colleagues face to face. They’re also find it difficult to set boundaries at home with work. Employees who lack a home office space within their abode generally find remote work to be more challenging, the survey found.
Vocon’s survey came as a second study by research firm Engagious found that 53% of consumers “very much want to return” to the office. In that study, 40% of workers said they’d look for another job should their employer decide to go entirely virtual.
“Companies were having a really hard time keeping their culture together and a really, really difficult time onboarding employees,” Megan Spinos, director of strategy for Vocon, told the Commercial Observer. “The workplace was really a critical place for them.”
A majority of the business leaders surveyed by Vocon said they still intend for their employees to return to the office, with most aiming for that to happen in the first quarter of next year. Vocon’s survey reflects the heads of firms that oversee 443,895 workers nationwide in industries such as real estate, technology, advertising, finance, and more.
The news is positive for the commercial real estate sector, of course. And the industry has benefited from other firms that are looking to expand their physical office footprint. The most conspicuous of these is Amazon.com, which recently purchased a 630,000 square foot building in Manhattan and leased two million square feet in two developments in Bellevue, Washington.
“Tech companies still believe in physical spaces,” Tom Vecchione, a principal at Vocon, told the Commercial Observer. “There’s a new awareness about wanting to be in a building working together.”
Surprisingly, it’s the younger workforce that seems most eager to return to the office. A recent analysis by Cushman & Wakefield found that around 70% of Generation Z and 69% of Millennials faced challenges in working from home. Some of the reported problems include struggling to find a space to do their work, and missing out on advancement opportunities due to a lack of face to face contact.
Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at [email protected]
There’s a growing divide in real estate, with some home shoppers fortunate enough to be able to buy newer and bigger homes, while others who have experienced job losses face losing their current home.
The U.S. unemployment rate grew to 8.4% in August, and many Americans have been left struggling to pay their mortgages or monthly rent. Lawrence Yun, chief economist of the National Association of Realtors, says another 10 million jobs must be created to get the U.S. economy back to where it was before the coronavirus pandemic.
Moreover, a survey by the Census Bureau recently revealed that 42% of renters who earn less than $35,000 per year say they have only slight, or no confidence in their ability to pay September’s rent.
“The level of economic suffering for families is heartbreaking if we don’t figure out how to help unemployed Americans pay rent,” Sam Gilman, co-founder of the COVID-19 Eviction Defense Project, told USA Today. “Eviction leads to horrible consequences for families. It can lead to homelessness, kids not going to school, and is linked to deaths of despair.”
Gilman estimated that up to 40 million Americans are at risk of being evicted at the end of the year if nothing is done. He said that eviction and foreclosure moratoriums that extend to the end of the year could well be postponing the inevitable.
“We are only delaying this huge build-up in rental debt and the precursor to eviction,” Gilman said. “Once rent comes due after the holidays, the circumstances for millions of Americans likely will not have changed.”
The most recent eviction moratorium came into effect on Friday, and requires tenants to certify or testify under penalty of perjury that they’re doing everything that they can to pay. Some of the obstacles that preclude them from paying the rent include job losses or wage reductions, and medical expenses.
Meanwhile, as millions of renters worry about losing their homes, there are millions of buyers at the other end of the spectrum with secure, well paying jobs that are flooding the market. Indeed, the housing market has emerged as one of the main drivers of economic recovery, with 27,700 jobs added to the construction industry in recent months. In addition, the NAR has seen record levels of membership, Yun said.
Those with high-paying jobs are looking to take advantage of record low mortgage rates, and many are looking to upsize during the pandemic.
“There’s a fortunate group of Americans with a steady paycheck that didn’t go on a big vacation, but did end up buying new furniture, appliances, or are renovating,” Ted Rossman, an industry analyst at Bankrate, told USA Today.
Citing a recent survey, Bankrate said around 59% of homeowners in the U.S. have completed at least $500 worth of home upgrades this year, or are planning to do so before the end of the year.
Others, instead of sprucing up their existing home, or aiming for something new and bigger. With that, home prices have rapidly escalated as demand increases. Now, the median national price for an existing home has hit $304,100, the first time it’s ever surpassed $300,000, the NAR said.
The market well and truly belongs to sellers at present, Rossman told USA Today.
“There’s still a lot of interest in sellers getting top dollar for their homes and buyers getting more space. The work-from-home trend has legs even beyond the pandemic because many companies have found that workers can be productive from home and it saves them money on office space. That has big ripple effects for the housing market if work-from-home becomes more permanent,” Rossman said.
Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at [email protected]