With the era of low interest rates and ample liquidity coming to an end, some of the world’s richest families have made (or are planning to make) major shifts in asset allocation, the new 2023 UBS Global Family Office Report shows. The survey, released today, covers 230 “family offices,’’ each…

Architect Eric Strain’s elemental three-box residential design―placed on the unforgiving Mojave Desert floor near Las Vegas―is reminiscent of a Zen retreat that’s at once urbane and contemplative. “It’s a journey around and through these three boxes, both inside and outside,” says Strain, whose 2011 design is located in Summerlin’s 800-acre…

The average long-term U.S. mortgage rate climbed this week to its highest level since November, according to weekly data compiled by mortgage buyer Freddie Mac. The rate on the 30-year fixed mortgage rose to 6.79% this week from 6.57% a week ago. One year ago, it averaged 5.09%.”Mortgage rates jumped…

Families paying for college are relying on federal student loans more than they have in recent years, a recent survey said.  Overall, 46% of respondents said they planned to use federal student loans to finance a college degree, a 3% increase from 2019, according to a College Ave survey. Moreover, respondents…

Rising inflation may add to what you’ll spend on gifts this Mother’s Day, according to recent surveys. Overall prices for most things have risen exponentially in recent months, with costs up 5% year-over-year in March, according to the latest Consumer Price Index (CPI), a measure of inflation.The National Retail Federal forecasted that…

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As Americans grapple with high inflation and raised interest rates, their financial well-being has taken a toll, according to a survey by Morning Consult.  “Consumers are slightly worse off now than at this time last year,” Morning Consult said in its report. While recent economic concerns have affected Americans across income…

On the heels of the May jobs report, economists weighed in on what the unexpected surge in jobs really means for the U.S. economy. Former White House economist, Tyler Goodspeed, warned over the biggest “red flags” in Friday’s report.Although U.S. employers added 339,000 jobs in May, Goodspeed, also a Kleinheinz…

Air travel will be affected by “very frustrating” supply chain issues this year, according to Willie Walsh, director general of the International Air Transport Association, as he discussed the challenges facing the aviation sector this year.”[It’s] so frustrating, because it is going to have an impact in summer 2023. And…

RIMINI, Italy — The seaside town of Rimini is the Jersey Shore of Italy: From here to the port town of Ancona in the southeast, there are more than 40 miles of sandy beaches. It was made famous by native son Federico Fellini, who grow up in the town and featured it…