• Dual citizen Michael Stiege was raised in Canada but spent many years working in the US.
• The darkness and cold climate of Canada pushed him to sunny California.
• For Americans thinking they can simply move up north, it's not that easy, he said.

This as-told-to essay is based on a conversation with Michael Stiege, 75, a dual citizen of the US and Canada. Stiege was raised in Canada and spent roughly 30 years working in California before moving back to Canada 15 years ago. He soon plans to split his time between the US and Canada. The conversation was edited for length and clarity.

Because I'm a dual citizen of America and Canada, traveling between the two countries is virtually a non-issue.

If you're an American coming to Canada, you can travel visa-free. Still, if you're planning to move here and be able to work here, that's another story.

You can visit for six months as long as you leave before the end of the six-month period. You can do that back and forth all the time — but you won't get access to the social system and healthcare.

My friends, who used to live in Chicago, moved to California and said, "We're going to move up to Canada when we retire," but they couldn't get a visa.

This fellow's a Ph.D. and a really smart technical guy — and his wife is pretty bright, too. They couldn't get a visa because they were simply too old. Once you're — let's say 50 — the immigration system disadvantages you. They have a merit-based point system and start worrying about things like age. That's the thinking. Once you reach a certain age, or if you don't have certain other legs up, the criteria by which you can get a working visa is stacked against you.

[In Canada's Comprehensive Ranking System (CRS) — which rates potential immigrants based on age, language fluency, education, professional expertise, and if you have a Canadian partner — applicants 45 years old or older receive 0 points.]

Whereas if you're a young guy just out of college, you have some reasonable skills, and you even know a few words of French, you probably wouldn't have a problem.

There are ways around it, but if the expectation is, "I'm just going to go up there and apply for a visa and get a visa," it may not happen like that.

I needed a change from the cold and long nights in Canada

I was born in Stuttgart, Germany. When my parents and I moved to Canada, I was about 3 and written into my parents' passports.

They got their visas and eventually became naturalized Canadians, which was bestowed on me. So, for all practical purposes, I'm a Canadian.

I grew up in Toronto, went to school in Toronto, and it wasn't until the early side of my career that I moved out into western Canada to Calgary and British Columbia.

I have an engineering degree and an MBA — which, at that time, was a pretty good combination to earn a job and make a living. I looked at the available jobs in the market and thought, "Go to Silicon Valley, where your skills will be valued the most."

I applied to a couple of things and got a call one day. It said, "Are you interested in coming down?" I said yeah, and there I was.

I needed warmer weather, and I was able to get rid of Canada's long winter nights. The summers in Canada were great — you could golf at 11 p.m. — but the winters were awful.

Seasonal affective disorder really got to me. It's not so much the cold as the long winter nights. It's dark. My wife says I had started hibernating, so I wanted to leave that behind.

I rented in the US and bought a home in Canada

When I moved to the US, I found that if I pushed myself, I could've bought a house, but I kept holding off. I found it easy to rent — it was affordable. I could get by without any problem. What I didn't put into a mortgage, I put into stocks and stuff like that.

I lived there for almost 30 years in two or three residences. I paid about $3,200 monthly in Los Altos Hills, California, right by Stanford University.

I came close to buying a couple of times, but the property tax burden in California is significantly higher than what you would find in Canada.

If you buy a house in California for $3 million, you're looking at $40,000 yearly in property taxes. [Zillow estimates a $3 million home in Santa Clara County would cost $36,300 annually in property taxes.] I could go on a trip for six months on that.

If I did the same thing in Toronto, I might spend between $6,000 and $8,000 — and that's a big difference. [According to the city of Toronto, a $3 million home costs $21,459 in city, education, and building fund taxes.]

I moved back to Canada about 15 years ago. My father was 96 then, and I said, "Let's go back." My wife is Canadian, and we have family up here. We settled in and bought our house.

We have a summer home up north in the lake country. It's not bad, but it gets cold in the winter.

If I ever move back to the US, my preference is California.

• Michael Jordan has sold his mansion in the Chicago suburbs after 12 years on and off the market.
• Jordan, who hasn't lived there in years, listed it for $29 million in 2012. It sold for $9.5 million.
• The massive home has custom nods to Jordan throughout, which might be why it took so long to sell.

Michael Jordan's mansion in the suburbs of Chicago, which has sat abandoned for years, has a new owner.

The legendary basketball star has officially sold the nine-bedroom home, which has been on the market on and off since 2012, for $9.5 million, according to property records.

Fourteen years ago, the former Chicago Bulls shooting guard listed the Highland Park, Illinois, mansion for $29 million. In 2015, he reduced the price to $14.855 million — whose digits add up to 23, the number on his Bulls jersey.

The mansion's sale price is a 67% discount from its original asking price.

Listing agent Katherine Malkin, of Compass, told The Wall Street Journal that after buying the property in 1991, he spent about $50 million building the home.

The house is full of nods to Jordan's basketball career, including the 23 on the front gate. His famous Air Jordan logo adorns the full-size indoor basketball court, and flag sticks on the putting green.

Even after various gimmicks, like offering a complete set of Air Jordans with purchase and marketing the home via videos in Mandarin to Jordan's fans in China, the house sat abandoned.

Jordan splits his time between his home state of North Carolina and Jupiter, Florida.

Below, we take a closer look at a house once considered basically unsellable. Most images are from footage taken by Concierge Auctions, which held an unsuccessful auction for the house in 2013.

The 56,000-square-foot compound sits on 7 acres.

The front gate is emblazoned with 23, for Jordan's number.

Jordan himself lived in the main house for 19 years.

One outdoor amenity is an infinity pool with a grass island in the middle.

The putting green outside the house comes complete with Jordan-branded flag sticks.

An indoor-outdoor entertainment space perfect for watching basketball.

Inside are multiple sitting areas and entertainment rooms. This one is the "great room."

This sitting room has a piano.

The centerpiece of the home is a full-size basketball court with a center ring that bears the name of his three children: Marcus, Jeffrey and Jasmine.

The home also features a locker room, trophy room, and a full gym.

Jordan's Chicago Bulls teammates used to work out there every morning, according to an interview shared by Concierge Auctions.

There is also a cigar room with card tables, where we're guessing Jordan has played some high-stakes poker games.

There's also an expansive wine cellar.

Some other fun details: The set of doors seen below are from the original Playboy Mansion in Chicago.

There is a large aquarium built into the wall in one of the dining areas just off the kitchen.

The library upstairs, which features a drop-down movie screen, was said to be Jordan's favorite room.

There are media rooms throughout the house. Even seemingly random nooks have TVs.

Even though it is widely considered abandoned, the house was at least at points occupied by staff Jordan hired to keep it looking fresh.

Jordan has other homes. In 2013, he spent $2.8 million on a North Carolina lake house located in a golf-course community.

The house is in Cornelius, about a 30-minute drive from the Charlotte Hornets' arena. Jordan bought the team for $275 million in 2010 and sold it for $3 billion in 2023.

Jordan also reportedly bought a house on a golf course in Jupiter, Florida, for $4.8 million in 2013 and spent $7.6 million on renovations. The Wall Street Journal reported in April that Jordan bought another mansion in Jupiter for $16.5 million.

He also owns a full-floor condo in downtown Charlotte, in the same building as NFL quarterback Cam Newton. Condos there reportedly went for between $1.5 and $3.5 million.

In 2019, Jordan listed his 10,000-square-foot home in Park City, Utah, for $7.5 million. Agents think it will likely sell faster than the Chicago compound.

Cork Gaines, Rachel Askinasi, and Tony Manfred contributed to this post. It was last updated on December 13, 2024.

• A settlement earlier this year was expected to change the way Americans buy and sell homes.
• Some predicted more people would forego hiring traditional real-estate agents for their deals.
• Four people who sold or bought homes this year without a traditional broker shared how they did it.

A 2023 court ruling against the country's biggest association of real-estate agents was expected to transform how Americans buy and sell homes.

A jury found that the National Association of Realtors, or NAR, had colluded with large real-estate brokerages to keep its members' commissions high. A settlement earlier this year imposed new rules and requirements to prevent agents from unfairly siphoning more money from home sellers.

Real estate professionals have debated endlessly how the NAR settlement could affect the housing market. One prediction is that people might forego using an agent altogether; another is that homebuyers and sellers will bargain hard to pay brokers they do hire less in commissions.

The majority of Americans hire a traditional real-estate broker to facilitate their transactions. According to data from NAR itself, 86% of homebuyers in 2024 used an agent's services. A study by real-estate media company RISmedia found early indications of commissions falling, while Redfin found that commissions have remained almost unchanged since the new rules took effect in August.

Even if it's too early to see the full impact of the settlement, some insights can be gained from people who bought or sold homes without using traditional agents.

Four people told Business Insider that the NAR ruling didn't influence their decision not to hire a typical broker; rather, saving time and making the process more convenient were top priorities.

The sellers acknowledged that going to the open market represented by a classic sellers' agent could have fetched higher prices but added that they might need to pay the agent more or wait longer to close their deals.

"If I had time and I was really wanting to prioritize maximizing my profit, then I probably would utilize an agent to sell just because of the ability to get multiple offers and drive up that competition," said Chelsea Hutchison, who sold her home to a publicly traded real-estate tech company in April.

There are also other costs to transact on a home, including attorney fees.

Read on to hear from the four people who bought or sold homes this year via big companies or real-estate startups instead of a traditional agent. They break down what they paid in commission or fees, and what they felt the benefits were.

2 people sold their houses to a company that charges a lower commission

In April, Hutchison sold her house in Canby, Oregon, to property technology company Opendoor.

The publicly traded firm worth $1.5 billion that pays cash for homes and can close a deal in days, charging a 5% fee to the seller. That's a little less than the 5% to 6% sellers have paid traditional agents in the past, who then share the commission with the buyer's agent.

Hutchison said she did consider using a traditional agent and spoke with one who estimated she could sell her 2,000-square-foot, four-bedroom home for about $565,000.

She ultimately went with Opendoor, which offered her less money — $535,000 — for her home but more speed and convenience.

She was going through a divorce and relocating to a different state at the time, so flexibility was her top priority.

"It was very fast, but it could have been slower if I needed it," she said. "There was flexibility for choosing the closing date, which was really helpful to me."

She ended up paying $26,750 in service fees to Opendoor, rather than the $32,100 a typical seller's broker would have asked for to split with the buyer's broker.

Another seller, Melissa Gonzales-Szott, thought Opendoor offered a fair price for her 2,200-square-foot Las Vegas house: $448,500.

Gonzales-Szott, a 46-year-old who works in marketing, said she did her own research on the market value of her home and thought the amount was in line with what she had seen in her neighborhood.

Selling to Opendoor took 60 days, she added, compared to the six months it took the last time she sold a home.

"There were just so many factors that contributed to this being a more convenient type of process to go through," she told BI. "If there were going to be any type of losses financially for us, we were prepared — because who could put a price tag on convenience and on peace?"

Opendoor operates in more than 50 markets in 26 states.

A home seller had agents bid for his listing and picked one willing to take a lower commission

In June, real-estate agent and "Million Dollar Listing LA" star Josh Altman cofounded Redy, a marketplace where prospective home sellers post their properties and agents compete with each other for the opportunity to sell them.

Agents even give sellers a "cash bonus" after they are chosen by the seller.

According to Kenneth Bloom, who's already sold two properties with Redy, the savings are significant compared to using a traditional real-estate agent.

Bloom, 69, sold a three-bedroom rental property in Waterford, Michigan, for $245,000 and his late mother-in-law's 1,500-square-foot condo in West Bloomfield, Michigan, for $250,000.

Bloom, who said he's bought and sold at least a dozen properties in his life, said he used to look up real-estate agents in the area of the home and research their sales volumes. He would then contact the top candidates before hiring one.

He found that he preferred Redy because the agents reached out to him.

"I posted the house and a dozen Realtors responded," he told BI. "For me, it was really a time saver. It did all the research that I had to do, and they came to me versus me having to go and do it on my own."

Bloom said the commission was also lower than he had paid in the past. The agent he selected settled on a 4.5% commission, which was lower than the 6% He was used to paying as the seller.

The cash bonus the agent paid him — which Bloom said was $1,200 for the first house he sold and $1,040 for the second house — was also a large factor.

Bloom said he saved nearly $10,000 on broker commissions between the two transactions. Selling each home took less than a month, he added.

Redy, which has officially launched in markets including Atlanta, Dallas, Orlando, Phoenix, and San Diego, is continuing to expand to other parts of the country.

A California homebuyer paid a flat fee rather than a percent of the sales price

California-based real-estate investor Sergio Rodriguez used a new homebuying service to purchase a home from his neighbor.

Rodriguez, 38, and the seller wanted to keep their $600,000 transaction off-market, which means the property wouldn't be listed on the Multiple Listing Service (MLS).

The seller wanted to get as much money as possible for the home and get rid of it fast, Rodriguez said, while he wanted to save on commission costs, too.

They couldn't find an agent to help them complete the transaction because Rodriguez and his neighbor wanted to keep the commission under 4% of the total sale price, below the 6% standard.

"I even have family and friends who are Realtors, and they were like, 'Let me run it through my brokerage and see if they'll be willing to transact for you,' and they all said no," Rodriguez told BI. "It was really hard to find a Realtor to just simply transact on it. You can try to do it privately, but it's just too much paperwork."

To close the deal, Rodriguez turned to TurboHome, a homebuying service in California, Texas, and Washington. The company, which bills itself as a "real estate brokerage of the future," uses AI in addition to licensed agents. It pays its agents salaries, then has buyers pay a flat fee rather than a percent commission.

After TurboHome got involved, Rodriguez said, he and his neighbor were in contract in 24 hours.

Rodriguez said he ended up paying TurboHome about $1,000 in fees. (The company said the standard flat fee ranges from $5,000 to $10,000.)

He estimated he saved about $40,000 compared to using a traditional agent.

"That's a lot of money when you're buying a $600,000 house," he said.

• US News & World Report created a list of the best places to live in the US in 2024.
• Factors such as housing affordability, job opportunities, and quality of life determined the list.
• Naples, Florida, tops 2024's list, followed by Boise, Idaho, and Colorado Springs, Colorado.

Deciding where to live isn't always easy.

Some people move multiple times in a decade, searching for new experiences or better opportunities. Others end up regretting relocating to their new homes.

While everyone's circumstances are unique, data can help narrow down the choices.

Every year, US News & World Report ranks 150 big cities based on factors including quality of life, schools, crime rates, employment opportunities, and housing affordability to find the best places to live in the United States.

For 2024's list, the South and the Midwest have the most cities ranked in the top 15.

Booming Boise, Idaho; outdoorsy Colorado Springs, Colorado; and the bustling banking hub of Charlotte, North Carolina, all consistently make the list of the best places to live. Newcomers include Austin, a growing tech hub, and two scenic South Carolina locales: Greenville and Charleston.

In addition to weighing job opportunities and housing costs, US News & World Report emphasizes each area's overall standard of living.

Here are the 15 best places to live in the US, according to US News & World Report. Residents find plenty to like about these cities, including relatively affordable homes, plenty of jobs, and lots of ways to spend their free time.

15. Lexington, Kentucky

Population of the metro area: 320,154

Median home price: $331,000

Median monthly rent: $1,600

Median household income: $66,392

Climate Vulnerability Index: 58th percentile (average vulnerability). This index shows areas of the US most likely to face challenges from climate change.

Known for: Home to over 450 horse farms, Lexington is known as the horse capital of the world. While it doesn't have the Kentucky Derby, Keeneland Race Track holds its own horse races twice a year.

14. Madison, Wisconsin

Population of the metro area: 280,305

Median home price: $415,000

Median monthly rent: $1,700

Median household income: $70,484

Climate Vulnerability Index: 6th percentile (lowest vulnerability)

Known for: Wisconsin's capital is also the state's second-largest city. Madison is a college town, offering plenty of chances to see concerts and sporting events.

13. Charleston, South Carolina

Population of the metro area: 155,369

Median home price: $617,500

Median monthly rent: $2,800

Median household income: $89,083

Climate Vulnerability Index: 55th percentile (average vulnerability)

Known for: With its cobblestone streets and 18th- and 19th-century buildings, Charleston is a dream for historic-architecture buffs. Plus, miles of beachy coastline are just a short trip from downtown.

12. Green Bay, Wisconsin

Population of the metro area: 105,744

Median home price: $318,000

Median monthly rent: $999

Median household income: $66,950

Climate Vulnerability Index: 15th percentile (lowest vulnerability)

Known for: Wisconsin's oldest city is home to the Green Bay Packers, a storied NFL team. Nature lovers can make the most of Green Bay's 25-mile Fox River State Trail, even in the winter.

11. Sarasota, Florida

Population of the metro area: 57,602

Median home price: $488,500

Median monthly rent: $2,800

Median household income: $68,870

Climate Vulnerability Index: 24th percentile (lower vulnerability)

Known for: Sarasota earned the nickname the Circus City because Ringling Bros. and Barnum & Bailey Circus moved its winter quarters to the beachy town in 1927. These days, the weather, leisurely pace of life, and lack of income tax all attract people to Florida. Sarasota, in particular, has become a magnet for workers, according to a January LinkedIn report.

10. Boulder, Colorado

Population of metro area: 105,898

Median home price: $945,000

Median monthly rent: $2,995

Median household income: $75,923

Climate Vulnerability Index: 12th percentile (lowest vulnerability)

Known for: Not far from the Rocky Mountains, Boulder is known for outdoorsy activities, including rock climbing, hiking, skiing, and cycling. The city's median age is 28.6, giving it a youthful, lively energy.

9. Austin

Population of metro area: 979,882

Median home price: $484,900

Median monthly rent: $2,000

Median household income: $91,501

Climate Vulnerability Index: 20th percentile (lower vulnerability)

Known for: An artsy, contemporary city, Austin is known for its vibrant nightlife, live music, eclectic cuisine, and college scene. It also has a long history of attracting tech giants, and even more companies have opened offices there since the pandemic. West Coasters in the industry have moved to the city, lured by the booming job market and comparatively low cost of living.

8. Virginia Beach, Virginia

Population of metro area: 453,649

Median home price: $384,500

Median monthly rent: $2,195

Median household income: $91,141

Climate Vulnerability Index: 18th percentile (lowest vulnerability)

Known for: Boasting a beloved boardwalk, Virginia Beach has miles of beaches, delectable seafood, and a mild climate. Murals, museums, and shops in the ViBe Creative District give the seaside destination some arty flair, too.

7. Huntsville, Alabama

Population of metro area: 225,564

Median home price: $315,000

Median monthly rent: $1,465

Median household income: $73,319

Climate Vulnerability Index: 54th percentile (average vulnerability)

Known for: Since the start of the US space program in the 1950s Huntsville has been a hub for the aerospace and defense industries. Today it's bursting with startups, alongside long-standing workplaces like NASA and Boeing. Jeff Bezos' Blue Origin also has a facility for building rocket engines in Huntsville.

6. Raleigh, North Carolina

Population of metro area: 482,295

Median home price: $450,000

Median monthly rent: $1,826

Median household income: $86,309

Climate Vulnerability Index: 13th percentile (lowest vulnerability)

Known for: This capital city has a busy downtown, free museums, and miles of hiking trails. Part of North Carolina's Research Triangle, Raleigh has a long history of fostering technology and science companies, creating a strong local economy.

5. Charlotte, North Carolina

Population of the metro area: 911,311

Median home price: $424,900

Median monthly rent: $1,950

Median household income: $80,581

Climate Vulnerability Index: 35th percentile (lower vulnerability)

Known for: Second only to New York, Charlotte is a bustling banking hub. Locals can root for the city's professional basketball, football, and soccer teams or soak up the art and food scenes.

4. Greenville, South Carolina

Population of the metro area: 72,824

Median home price: $366,500

Median monthly rent: $1,725

Median household income: $73,536

Climate Vulnerability Index: 55th percentile (average vulnerability)

Known for: In the foothills of the Blue Ridge Mountains, Greenville attracts new residents with its moderate climate, burgeoning food reputation, and natural beauty. Greenville is also home to several major corporations, including Michelin, GE, and Lockheed Martin.

3. Colorado Springs, Colorado

Population of the metro area: 488,664

Median home price: $440,000

Median monthly rent: $1,873

Median household income: $83,215

Climate Vulnerability Index: 34th percentile (average vulnerability)

Known for: The US Olympic and Paralympic Training Center is located in Colorado Springs, making the city especially attractive to athletes. There are hundreds of miles of trails for hiking and mountain biking, and white water rafting is a popular summer activity. From the Garden of the Gods to the iconic Pikes Peak, gorgeous natural sights adorn the area.

2. Boise, Idaho

Population of the metro area: 235,421

Median home price: $472,500

Median monthly rent: $1,774

Median household income: $79,977

Climate Vulnerability Index: 9th percentile (lowest vulnerability)

Known for: Thousands of new residents flocked to Idaho's capital in the past decade, making it the US's fastest-growing city in 2018. Boise blends sought-after amenities such as microbreweries and cider houses with nearby scenic state parks full of rivers, canyons, and mountains.

1. Naples, Florida

Population of the metro area: 19,704

Median home price: $629,500

Median monthly rent: $6,100

Median household income: $135,657

Climate Vulnerability Index: 32nd percentile (lower vulnerability)

Known for: Located on Florida's Gulf Coast, Naples is like a postcard come to life, with white-sand beaches, luxurious residences, and over 1,350 holes of golf. The city has long attracted wealthy residents who can afford the high housing costs. Right now a $295 million compound is up for grabs, the most expensive home for sale in the US.

Sources: Population and income data are from the US Census, median home price from Realtor.com, median rent from Zillow, and climate information from the Climate Vulnerability Index.

This story was originally published on May 15, 2024, and most recently updated on December 4.

• Robert Redford has listed his Tiburon, California, home for $4.15 million.
• The actor, 88, and his wife want to spend more time in Santa Fe, New Mexico.
• The couple has recently offloaded a wine-country estate in California and two Utah properties.

Robert Redford and his wife have put their secluded home outside San Francisco on the market for $4.15 million.

The actor, who starred in films "Butch Cassidy and the Sundance Kid" and "The Way We Were," was born in California and still owns property there but said in an email that he wants to spend more time in other parts of the West.

The roughly 2,824-square-foot home is located in Tiburon, California, a town across the Golden Gate Bridge from San Francisco. The median listing price for homes in Tiburon is $3.3 million, according to Realtor.com.

Redford and his wife, artist Sibylle Szaggars Redford, bought the home in 2020 for $3.1 million, public records show. The couple also own another home in California, Sundance, Utah, and Santa Fe, New Mexico — where they primarily live.

"Sadly, we are not able to spend as much time in Tiburon as we would like, as we are now spending more time in Santa Fe, New Mexico," the Redfords said in an email. Santa Fe is home to Szaggars Redford's fine art gallery and an arts and conservation nonprofit the couple runs called The Way of the Rain.

Redford, who has said over the years that he values privacy, added that the Tiburon house appealed to him in part because of its location "on a quiet, unpaved cul-de-sac, which does not experience a lot of traffic."

In 2014, he told the Hollywood Reporter that he wanted to leave the congestion of his hometown of LA.

"I wanted to be away from Los Angeles because I felt it was going to the dogs," he said. "I was just getting more and more anxious about wanting out."

The couple has offloaded several properties over the last five years.

In 2019, they sold a Napa Valley home on 10 acres of wine-country land for $7 million. They still have another property in California, according to the Wall Street Journal.

Redford, who cofounded the Sundance Film Institute in Utah, has also sold two properties in the state: the 2,600-acre Sundance Mountain Resort and Horse Whisper Ranch. Szaggars Redford listed a separate cabin in Utah for $3.99 million earlier this year. Redford still owns a ranch near the resort.

The four-bedroom, two-and-a-half-bathroom home is nine miles from the Golden Gate Bridge.

The wood-shingled home was built in 1968.

The Redfords, who bought the house for $3.1 million in 2020, have put it on the market for $4.15 million.

The Redfords remodeled the interior of the home to give it a more coastal feel.

According to Compass, the brokerage representing the Redfords, the home's furniture and artwork are not included in the listing price but can be negotiated.

The house has 2,824 square feet inside and more than 1,000 square feet of outdoor decking.

The home has views of San Francisco Bay, Angel Island, Raccoon Straits, and the East Bay.

The home's lush surroundings make it feel like an oasis.

The home is surrounded by redwood trees, according to listing agent Steven Mavromihalis, and the gardens are perfect for lavender, jasmine, and succulents.

The split-level home is located on a quiet cul-de-sac off an unpaved dirt road.

The cottage is a short walking distance to the beach, hiking trails, restaurants, and three yacht clubs.

Even though it feels secluded, the house is not too far from San Francisco.

Tiburon has a population of under 10,000 residents, but the property is only a 40-minute car ride — or a 30-minute ferry ride — away from San Francisco.

• Realtor.com forecasts that home prices will rise slightly in 2025.
• Researchers expect mortgage rates to come down next year but still remain above 6%.
• There's a silver lining: Increased inventory and new construction may offer buyers some relief.

The housing market in 2024 hasn't been kind to those looking for a home: The age of the typical first-time homebuyer increased by three years, mortgage rates stayed firmly above 6%, and some people felt it would be more affordable to keep renting than to buy.

Although Realtor.com's housing forecast predicts some of the same for 2025, there are a few encouraging signs.

Home affordability has improved modestly after reaching the lowest level in decades last year, and transactions have picked up after an eerily quiet 2023.

Danielle Hale, the chief economist at the real-estate listings and data site, said a "Trump bump" could affect the housing market.

"For now, we expect a gradual improvement in housing market dynamics powered by broader economic factors," Hale said in the forecast. "The new administration's policies have the potential to enhance or hamper the housing recovery, and the details will matter."

Most consumers care about what will happen to home prices and mortgage rates, which directly affect their ability to buy a house.

With that in mind, here are five predictions for the housing market in 2025 from Realtor.com.

1. Home prices will drift higher

The median home sale price nationwide is up 32% since 2019, per the Federal Reserve Bank of St. Louis. However, it was $420,400 in the third quarter of 2024, down a bit from $435,400 a year earlier.

Buyers are holding out for more relief, but it might not come in 2025.

Barring a serious shock, home prices should continue to climb modestly. Realtor.com predicts that home sale prices will increase by 3.7% in 2025, which would be about a $15,000 jump.

"Prices are going to keep rising because we're not going to have a recession," Ralph McLaughlin, a senior economist at Realtor.com, said in an interview with Business Insider. "If you look at the times that home prices fall, it's typically only when there's a recession, and only when people are forced to sell."

Higher home prices may cause buyers to expand their house hunts to more affordable parts of their states or the country, like the Sunbelt. Twelve of the 16 cities that Realtor.com thinks will have double-digit price appreciation in 2025 are in the Southeast or Southwest.

2. Mortgage rates will stay above 6%

The average 30-year mortgage rate has dipped slightly, to 6.7% from a peak of 7.8% a year ago. Rates dropped to a historically low mark of 2.7% in 2021 and have mostly climbed since then. A pair of interest-rate cuts haven't significantly affected mortgage rates.

Next year's economy will be typified by lower interest rates and steady growth, Realtor.com predicted. The firm expects a rate cut in December and then a few more in early 2025.

That means Realtor.com researchers don't expect mortgage rates to drop dramatically next year, projecting that the 30-year will stay above the 6% threshold and be at 6.2% by the end of 2025.

3. Rents will be roughly the same

Rent growth may stall, as Realtor.com expects US apartment prices to fall 0.1%.

That's largely thanks to a major increase in rental unit inventory. Real-estate site Zumper found that the supply of new apartments in the US hit its highest level in five decades this summer.

"What we've seen over the past couple years is a large uptick in new multi-family construction, and they tend to be released all at once," McLaughlin said. "And so it can have very sharp and especially isolated impacts on rents — in particular — in urban areas where they are built."

Construction trends suggest the rental stock should increase in all parts of the country, but especially in the South, Realtor.com said. New homes and apartments could lead to lower rents in some cities and states.

Landlords may also struggle to raise rent substantially in a strong economy with lower mortgage rates, since renters could walk away from bidding wars and look at buying homes instead.

"When incomes grow enough in the rental segment, those renters tend to convert over to owners," McLaughlin said. "They typically won't use their incomes to bid up rents more — they'll just go and, if they can afford it, they'll go buy a house."

McLaughlin added: "Those that continue to stay renting, landlords don't have the ability necessarily to raise rents at the rates that price growth plays out in most markets."

Still, inventory increases may not translate to meaningful discounts on homes or rental units. Prices almost always rise over time along with the population size and money supply, so while apartments may be easier to find, those pining for pre-pandemic prices could be disappointed.

4. The market will be high on housing supply

Next year's housing market may be marked by sizable increases in home and apartment supply.

An 11.7% jump in existing home inventory and a 13.8% surge in single-family home starts will usher in the first "balanced" housing market in nine years, Realtor.com predicted. That would mean neither buyers nor sellers will have disproportionate leverage in 2025.

New single-family homes are expected to reach 1.1 million, the most since 2006. That should give prospective buyers more chances to score a home.

"While more inventory means buyers will likely have more time to make purchase decisions in 2025, in any market, a fast-acting buyer will have a higher likelihood of making the winning offer," Hale said in the report.

Homes have been in short supply for decades. Despite an uptick in construction, Freddie Mac estimated that the US needed 3.7 million more units to offset the shortage, as of last quarter.

Continued supply improvements mean there should be 4.1 months of homes available in 2025, up from 3.7 months now, Realtor.com said. The National Association of Realtors, a competing firm, reported last month that there was already 4.2 months' supply of existing homes available.

5. Home sales will surge

The housing boom during the pandemic devolved into a bust in 2022 and 2023 — a year in which home transactions reached their lowest levels in decades as housing affordability tanked.

Buyers and sellers are holding out for lower rates, and in the meantime, sales have stagnated.

"What I say to agents very often is, 'We're in a recession of transactions,' which is a different situation than the rest of the economy," Leo Pareja, the CEO of real-estate brokerage giant eXp Realty, said in a recent interview with Business Insider.

Many would-be buyers have been priced out of the market, while those hoping to move were reluctant to sacrifice their modest mortgages. In fact, about 84% of US mortgages are at rates below 5%, Pareja said. For that reason, many baby boomers have held onto their homes, giving younger buyers fewer options.

"If you're locked in at a 3.5% rate — even if you found your dream home, swapping that for a 6.8% rate is virtually impossible," Pareja said.

Lower mortgage rates and higher supply should spark a turnaround for home transactions. Pareja and his colleagues at eXp see sales activity rising 10% next year — far above Realtor.com's 1.5% forecast.

While the housing market overall may still favor sellers, more homes for sale can help buyers secure better deals and more concessions.

President-elect Donald Trump's policies may also be a tailwind for sales activity. Stock-market strategists mostly agree that tax cuts and deregulation will boost business confidence, and McLaughlin suspects that could rub off on homebuyers.

"If you're talking about the resale market, the existing-homes market, it's hard not to become optimistic about just the broader economy, because of things like tax cuts and other benefits to households that might put more money in their pocket at the end of the day," McLaughlin said.

He added, "That might encourage them to go out and either buy a home if they don't currently own one — or grade up to a house maybe they've been waiting to over the last few years."

• 29 countries offer residence visas for remote workers, or "digital nomad visas."
• Spain and Italy have joined the growing list of countries offering digital nomad visa programs.
• Governments hope the visas will help develop more sustainable tourist economies.

In the lead-up to the election, Business Insider reported millions of Americans were considering leaving the country if former President Donald Trump won his 2024 campaign. After his victory was announced, searches for the phrase "moving to Canada" spiked — along with inquiries about international digital nomad visas.

The specialized visas allow remote workers to live and work in countries like Malta, Portugal, and Costa Rica — as long as their income comes from outside the country.

And as some American tourists consider moving abroad, dozens of countries have, in recent years, launched special visas designed specifically for remote workers to drive tourism in their countries.

In some countries, the visas have become so popular that they've had to start turning people away. As of October 2024, for example, Cyprus is no longer accepting digital nomads after it filled the 500 slots it had available for its visa program.

Nonetheless, there are still plenty of options elsewhere. Here are 29 countries that offer visas specifically for remote workers, the minimum income required to apply, and how much they cost.

Europe digital nomad visas

Malta

Malta, an island south of Italy, has a permit that allows nomads to keep their jobs elsewhere and legally stay in the country for one year with a chance of renewal.

To be eligible, you must be from a country outside the EU and EEA and have a minimum gross annual income of 42,000 euros. The Nomad Residence Permit requires applicants to have health insurance, hold a valid travel document, have a rental or purchase agreement, and pass a background check. There is no application deadline, but there is a 300-euro application fee.

Latvia

Latvia introduced its digital nomad visa in February 2022, allowing applicants to spend up to a year in the country with the opportunity to renew for another.

Digital nomads must either work for a company based in a member state of the OSCE (Organization for Security and Co-Operation in Europe) or a company registered in one of those countries for at least six months.

They must also have health insurance and make at least 2.5 times the country's average monthly salary of the previous year, which the government website reports is about $4,043 (€3,843). There's also a $63 (€60) state fee for the visa application.

Romania

To apply for Romania's digital nomad visa, digital nomads must show proof they can work remotely, either as freelancers, business owners, or employees of a company registered outside the country.

Applicants are also required to have a clean criminal record, medical insurance for the duration of the visa with a minimum liability of $31,580 (€30,000), make at least three times the average gross monthly salary in Romania, around $3,467 (€3,300), and pay an application fee of $126 (€120).

Hungary

Known as the White Card, the digital nomad visa in Hungary requires applicants to be employed by a company outside the country, have shares in a company outside the country, or work as a freelancer.

In addition to providing proof of health insurance and proof of accommodation, those keen on getting a White Card must earn at least $3,146 (€3,000) a month. Application fees can cost as much as $297 (€284).

Croatia

Croatia allows non-EU citizens to apply for its digital nomad visa program, which grants up to one year of residency for remote workers.

The program also allows residency for close family members of the visa applicant so long as the family meets the country's income requirements. To be eligible, applicants must make a minimum of 2,870 euros a month (or $3,035) or have a minimum of 34,440 euros (or $36,430) already available in their account.

Iceland

In Iceland, a long-term visa for remote work can grant you 90 to 180 days while working. The program requires that you are from a country outside the EU and EEA and also from a country that does not need a visa to travel to the Schengen area (US citizens can travel to Iceland without a visa).

Applicants must also have a monthly income of 1,000,000 Icelandic króna (or $7,156) or 1,300,000 Icelandic króna if they bring a spouse.

Greece

Greece started its Digital Nomad Visa in 2021 and is still operating today. The program lets non-EU digital nomads, with a 3,500-euro monthly income, stay for 12 months.

The application fee is refundable at 75 euros, and there's also an administration fee of about 150 euros.

Portugal

Portugal has been kind to digital nomads. With its "Temporary Residence Visa for the Exercise of Professional Activity Provided Remotely Outside the National Territory," or D8 visa, launched in 2022, non-EU nomads can still freely work there.

Applicants must be over 18 years old, prove income over 3,280 euros a month, and show proof of accommodation for at least 12 months. The application fee ranges from 75 to 90 euros.

Estonia

Estonia launched its Digital Nomad Visa (DNV) program in 2020, offering up to a year of residency for eligible workers looking to live in the Northern European country bordering the Baltic Sea and Gulf of Finland.

Eligible remote workers must prove they earn at least 3,504 euros a month (or $3,706) and apply in person at their nearest Estonian Embassy or Consulate. Application fees range between 80 and 100 euros ($84 and $105).

Spain

Spain's Digital Nomad Visa Program allows remote workers, their spouse or unmarried partner, and dependent children to reside in the country for one year.

Applicants must have an undergraduate or postgraduate degree from a "University, College, or Business School of prestige" or have at least 3 years of work experience in their current field, in addition to earning at least 200% of the monthly Spanish national minimum wage — currently set at 37.8 euros/day ($39) or 1,134 euros/month ($1,199).

Italy

Italy's Digital Nomad Visa is available to non-EU citizens who are highly specialized workers with careers that require post-secondary degrees or at least three years of professional training or experience.

The visa lasts up to one year for the applicant, their spouse, and dependent children. To be eligible, the applicant must prove that their salary is at least three times the annual minimum wage of 24,789 euros (or $26,221) and that they have at least 30,000 euros (or $50,000) worth of medical insurance coverage.

Asia and Africa digital nomad visas

Bali, Indonesia

In April, Bali introduced a Remote Worker Visa (E33G), which allows digital nomads to work from Bali for a year. Foreign workers in Bali must be employed by a company outside Indonesia and receive a yearly income of at least $60,000.

The application fee for a standard single-entry visa costs 12,900,000 Indonesian rupiah, or about $810.

Thailand

The Destination Thailand Visa allows digital nomads to stay in Thailand for up to 180 days per visit, on a multiple-entry basis, within five years. The visa fee costs 10,000 Thai baht, or $284.

Applicants must be at least 20 years old and have at least THB 500,000, or about $14,400 USD, in their bank. Employed workers are required to have a foreign employment contract, while freelancers need a professional portfolio.

Japan

Japan introduced a new digital nomad visa in April. This visa allows holders to work remotely in the country for up to six months. Visa holders must be nationals or citizens of selected regions, including the US and UK.

Applicants must have an annual income of at least 10,000,000 Japanese yen, or $65,000, and submit their applications in person or by mail to the nearest embassy or consulate general of Japan. A single-entry visa costs $22, while a multiple-entry visa costs $43, but some countries, including the US, are exempt from this fee.

United Arab Emirates

UAE's virtual work residence visa allows holders to live and work remotely in the UAE — including Dubai and Abu Dhabi — for up to a year. Applicants must make at least $3,500 a month and have sufficient health insurance coverage within the country.

The service fee to apply for the visa is 300 United Arab Emirates Dirhams, or about $80.

Cabo Verde

Cabo Verde's Remote Working Program allows remote workers to stay for up to 6 months, with the option of renewal after. Individual applicants must have an average bank balance of 1,500 euros, or $1,570, in the past 6 months.

The visa fee costs 20 euros, and applicants must submit an online form to indicate their interest.

South Africa

South Africa recently launched a remote work visa, which allows holders to stay for at least 3 months and up to 3 years. While details are still being finalized, the latest visa requirements state that applicants must have a salary of at least 650,796 South African Rand, or about $36,000, and a valid foreign-based employment contract.

Caribbean digital nomad visas

Grenada

To receive a digital nomad visa from Grenada, you need a valid passport, an annual income of at least EC$100,000 a year, or about $37,000, full COVID-19 vaccination, and valid health insurance.

There is no application deadline. The fee is $1,500 for individuals, $2,000 for a family of four, and $200 for each additional dependent.

St. Lucia

St. Lucia's Digital Nomad Visa program, "Don't Just Visit, Live It," has no income threshold. The one-year visa is available to remote workers, freelancers, and students.

The application fee costs $125 XCD (about $47) for a single-entry visa or $190 XCD (about $70) for a multiple-entry visa.

Curaçao

Curaçao's Digital Nomad Visa, the At Home in Curaçao program, has no salary requirements. Still, you must be employed, own a business, or have freelance clients outside the country.

Health insurance, a clean criminal record, and proof of accommodation or a lease on the island are also required. The visa application fee is about $294.

Dominica

To qualify for Dominica's Digital Nomad Visa, the Work in Nature (WIN) Program, you must be 18 years old and have a clean criminal record.

You will also need an income of at least $50,000 or have sufficient funds to support yourself and any family members accompanying you during a 12-month stay.

The application fee is $100. The individual visa costs $800, and the primary applicant can also apply for their spouse and dependents for a total fee of $1,200.

Anguilla

The digital nomad visa in Anguilla has no income requirements, but interested travelers must fill out an application at least 7 days before arrival.

Digital nomads also need proof of a negative COVID-19 test 3 to 5 days before they step foot on the island and proof of a health insurance policy covering COVID-19 complications.

Antigua and Barbuda

To nab Antigua and Barbuda's two-year visa through the Nomad Digital Residency Programme, applicants must be 18 or older, earn at least $50,000 a year, and have a clean criminal record.

Their employer must be outside Antigua and Barbuda as well. Application fees range from $1,500 for a single person to $3,000 for a family of three, plus another $650 for each additional dependent.

Barbados

Introduced in June 2020, the Barbados 12-Month Welcome Stamp offers a one-year visa for digital nomads interested in the island and the opportunity to renew.

Applicants must make at least $50,000. Fees are $2,000 for an individual and $3,000 for a family bundle and must be paid within 28 days of application approval.

North, Central, and South America digital nomad visas

Bermuda

The Work from Bermuda certificate was created for "remote workers, self-employed digital nomads and university students engaged in remote learning," according to the program's web page. It lasts for 12 months and is renewable on a case-by-case basis.

The application fee is $275, and interested applicants must be at least 18 years old, have a clean criminal record, and have valid health insurance.

There is no official salary requirement, but applicants must demonstrate that they "have substantial means" or a "continuous source of income," though no official range is provided.

Colombia

Colombia's "Visa V Digital Nomads" program allows expats from more than 100 countries to live and work remotely in the tropical country for up to two years. Applicants must make a minimum income of three times the current legal monthly minimum wage in Colombia, which currently equals about $885 a month.

The application costs $54, and if approved, the Visa itself costs another $177. People hoping to become digital nomads in Colombia must also provide a contract or employment letter detailing their employment agreement and compensation details. Entrepreneurs may alternatively submit a letter outlining their business project and financial resources.

Belize

Belize offers citizens of the European Union, the United Kindom, the United States, and Canada the chance to live and work in the country via its "Work Where You Vacation" program. Applicants can secure a six-month visa by proving they make a minimum annual income of $75,000 or $100,000 if applying with dependants. Kids under 18 are eligible to enroll in the country's school system.

Applicants must submit a notarized banking reference, a police record, and proof of travel insurance. The visa costs $500 per adult and $200 per child.

Costa Rica

Costa Rica's digital nomad program extends the country's 90-day tourist visa to a full year with the option to renew for an additional year. Applicants must be foreign nationals who earn a minimum of $3,000 a month or $4,000 a month if applying with dependants.

All application materials must be submitted in Spanish. The application costs $100, while the visa is an additional $90.

Brazil

Brazil's digital nomad visa (VITEM XIV) allows foreign nationals from more than 100 countries to work remotely in the South American country for one year and to renew for longer.

The visa is available to remote workers who can prove a monthly minimum income of $1,500 or an available bank balance of at least $18,000. Applicants must submit a background check, a copy of their birth certificate, proof of valid health insurance in Brazil, and documents proving digital nomad status.

The visa costs $290 for US applicants and between $100 and $215 for UK applicants. Expats from all other countries will pay $100 for the visa.

• Michael Kittredge II's son put the Yankee Candle founder's Massachusetts estate up for sale in 2022.
• The compound, which features an indoor water park and bowling alley, was originally listed for $23 million.
• After two years on the market, the estate could soon be redeveloped as senior living. 

Three years after Yankee Candle founder Michael Kittredge II died in 2019, his son, Michael Kittredge III, put the family's sprawling 120,000-square-foot compound on the market for a whopping $23 million.

Now, after more than two years of no movement and a significant slash to its asking price, the historic Massachusetts estate could soon be transformed into an entirely different kind of living space. The Kittredge family has enlisted Josh Wallack, a Florida-based developer, to oversee the re-imagination of the mansion into a luxurious senior living community that features affordable housing.

In a conversation with Business Insider, Wallack outlined his vision for "Pioneer Point at Juggler Meadow: A 55+ Active Adult Community," a $200 million project that aims to incorporate all the amenities of the Kittredge estate into a community that helps address Massachusetts' housing crisis. 

"This is going to be amazing. Regular people can buy one of these units and live in this amazing place that is like heaven on Earth," Wallack said. 

Take a peak inside the mind-boggling compound.

The former home of Yankee Candle founder, the late Michael Kittredge II, went on the market in September 2022.

The $23 million listing quickly went viral thanks to its litany of amenities. 

The sprawling estate is located about two hours outside Boston in Leverett, Massachusetts.

The estate encompasses 120,000 square feet of living space spread across eight separate structures, including a main house, a clubhouse, a spa, a pool cabana, two guest houses, and two car barns.

The main residence is a 25,000-square-foot house designed in the colonial style. It was originally constructed in the 1980s.

The compound sat on the market for months before its price was slashed from $23 million to $14.9 million.

Wallack and his family stayed at the estate's guest home in 2022 after he hit it off with Michael "Mick" Kittredge III.

As an expert in rezoning, Wallack said the Kittredge family asked him what he thought they should do with the property. 

"Instead of looking for one billionaire to buy this mansion, let's take all the land underneath it and build 700 homes and allow regular people to live here and use your father's mansion as the social club," Wallack said he told the family.

Wallack wants to turn the estate into an active senior living community.

If approved, Wallack's plan would allow people 55 and older to buy individual units on the property, where they would have full access to amenities like an onsite restaurant, cafe, tennis and pickleball courts, and a beauty parlor. 

The project would offer 25% of units at affordable housing rates.

Wallack said the community would be comprised of 25% of units at affordable housing costs and 75% of units at market rate. 

Someone making $84,000 a year would pay about $1,875 a month for an affordable unit, Wallack said.

The budget for the project is about $200 million, Wallack said.

Wallack serves as the development manager representing the Michael Kittredge trust. 

The team is in the final stages of preparing an application to MassHousing.

Wallack is working to garner more community support.

Take a peak at the original mansion before it potentially is redesigned.

The main residence has six full bathrooms and five half-bathrooms spread out between five bedrooms.

The house features 11 fireplaces, including in some of the bathrooms.

The lower level of the house has a 10-seat movie theater.

Kittredge was a car enthusiast who had two temperature-controlled car barns built at the estate.

The spa is a major attraction at the compound and houses a fitness center, as well as basketball and tennis courts.

Wallack said his project would turn some of those tennis courts into pickleball courts for senior residents. 

Kittredge had three outdoor tennis courts and one indoor court constructed at the estate.

The indoor tennis court also doubles as a concert venue, which has hosted such bands as The Doobie Brothers, as well as KC and The Sunshine Band.

The fitness center takes up 4,000 square feet and has multiple locker rooms.

A bowling alley is situated in the 55,000-square-foot spa.

The compound also has a two-story arcade.

In addition to an outdoor pool, the estate also has an indoor Bellagio-style water park.

It is full of slides, waterfalls, and palm trees.

The real estate company that originally listed the compound said the estate is set up like a private country club and includes a nine-hole golf course.

The clubhouse, which looks out on a pool and two cabanas, has four bedrooms, two bathrooms, and a full kitchen.

The compound is also home to two guest houses.

"There was nothing he loved more than bringing his family and friends together and hosting parties at his home," Kittredge's son said in a 2022 press release.

• Donald Trump will be returning to the White House after the inauguration on January 20.
• His name is splashed across buildings all over the world, but he hasn't called that many home.
• Here's a look at some of the most significant houses of Trump's life, past and present.

Donald Trump became president of his father's real-estate company in 1971, building residences, hotels, casinos, and more over the course of his career.

The president-elect's name appears on properties from Turkey to India, but he hasn't truly lived in that many.

From a triplex penthouse wholly decorated in gold to a palatial country estate once owned by the Heinz family, Trump's chosen homes are pretty special

Today, the property most synonymous with Trump is his resort in Palm Beach, Florida, Mar-a-Lago, where he spent a large chunk of his first term and has recently hosted Mark Zuckerberg, Elon Musk, and more.

Once he's inaugurated a second time, Trump will move back to the White House in Washington, DC.

If his next presidential term is anything like his last, Trump will still spend time at some of his other homes in Florida and in the Northeast. (Representatives for the Trump-Vance transition team didn't respond to a request for comment from Business Insider.)

Here's a look at Trump's houses over the years.

Trump spent his early years in an affluent neighborhood in Queens, New York.

Trump was born in 1946 in Queens, New York, to Fred and Mary Anne MacLeod Trump. During his childhood, he lived in the Jamaica Estates neighborhood of Queens, 22 miles east of Manhattan.

Jamaica Estates remains a relatively wealthy part of Queens, with a median listing price of $1.5 million, according to Realtor.com.

Trump's father was one of the real-estate developers who built Jamaica Estates, which has verdant streets lined with Tudor-style homes.

His dad also built the five-bedroom, 2,500-square-foot home on Wareham Place where Trump lived until he was four years old.

Trump's childhood home last sold in 2017 to a limited liability company called Trump Birth House, which paid $2.14 million for the property in an auction. A few months later, the home was listed on Airbnb with a nightly rate of $725.

Trump Birth House listed the home for sale again in February 2019, with an asking price $2.9 million. In September 2019, the house went back on the auction block but still could not find a buyer.

In October, real-estate website Curbed reported that the owner had been MIA and that 20 to 30 feral cats were living in the unkempt yard.

When Trump is in New York City, he stays in his three-story penthouse atop Trump Tower.

There are Trump towers all over the world, but the president-elect has called the Trump Tower home since it opened in 1983.

Trump owns a three-level penthouse designed by late interior designer Angelo Donghia in the Louis XIV style, draped in gold furnishings and accents.

Trump has claimed that the penthouse is more than 30,000 square feet, but Forbes said in 2022 that property records show the actual square footage is 10,996. In 2024, Forbes estimated that the condo was worth $50 million.

His real-estate firm's offices and 2016 presidential campaign were headquartered in Trump Tower, which rises 68 stories at the corner of Fifth Avenue and East 56th Street.

Other past famous residents of Trump Tower include late-night talk show host Johnny Carson, pop icon Michael Jackson, and actor Bruce Willis.

Trump's primary residence is the Mar-a-Lago resort in Palm Beach, Florida.

Built in 1927 by cereal heiress Marjorie Merriweather Post, Mar-a-Lago is a 128-room mansion facing the Atlantic Ocean. According to the Mar-a-Lago website, Post donated the 17-acre property to the US government, who gave it back to the family when it couldn't keep up with the $1 million it cost each year to maintain the property.

Trump purchased Mar-a-Lago in 1985 for $5 million. He used it as a private residence until 1995, when he established it as The Mar-a-Lago Club. The Guardian reported in August that the initiation fee to join is $1 million.

Trump has renovated the property, including adding a 20,000-square-foot ballroom with Louis XIV gold and crystal finishes in 2005, according to the property's website.

Trump made Mar-a-Lago his primary residence in 2019.

Trump also has a massive country estate called Seven Springs outside New York City.

The president-elect owns a 60-room house in Westchester County, about 43 miles from Trump Tower.

Trump bought the estate, named Seven Springs, for $7.5 million in 1996. The seller was Eugene Meyer, the former Washington Post publisher who built it in 1919, according to the Trump Organization. Trump originally planned to turn the estate into a golf course but decided to keep it a private residence.

In addition to the main house, which has seven bedrooms over 50,000 square feet and was formerly owned by the Heinz family of ketchup fame, the property has carriage homes and three pools on its 230 acres.

The estate is so big that it straddles three different towns: Bedford, Armonk and Chappaqua.

Trump had claimed the property was worth $291 million, but Forbes reported in 2024 that the estate is worth closer to $30 million.

In March, New York State Attorney General Letitia James sought a sheriff's sale of Seven Springs as part of a $454 million judgment Trump was ordered to pay. Trump has appealed the ruling, and this week lawyers for the president-elect asked James to drop her civil fraud case against him.

Trump owns a few cottages at Trump National Golf Club in Bedminster, New Jersey.

In 2002, Trump purchased Lamington Farm, a 506-acre estate in Bedminster, New Jersey, from National Fairways, a Connecticut-based golf course developer.

According to a 2002 article in the New York Times, Trump paid "substantially less than the $35 million the seller invested in the project."

Bedminster is a town about 40 minutes west of Newark, New Jersey, and about an hour from New York City.

Trump National Golf Club, which has two 18-hole courses, opened in 2004.

In 2009, Trump's daughter, Ivanka, married Jared Kushner, who then worked for his family's real-estate development firm, at the golf club in Bedminster in 2009.

The main house is used as a private club for members of the golf course, but the Trump family owns cottages on the property. According to a 2017 article from Politico, Trump has a villa exclusively for him that has a two-story balcony and porch.

Trump is estimated to have played 261 rounds of golf, one every 5.6 days, during his first term as president, according to an analysis by the Washington Post.

In 2017, Bedminster hosted the US Women's Open. In 2022, it was going to host the PGA Championship, but the association relocated it to a different venue after the January 6, 2021, storming of the Capitol by Trump supporters.

Trump will move into the White House after the inauguration on January 20.

Built in 1792, the White House has been home to every US president since 1800. Trump, of course, already stayed in the White House during his presidency from 2017 to 2021.

With 132 rooms — which include 16 guest rooms, 35 bathrooms, and three kitchens — the White barely beats out some of the other properties he owns when it comes to opulence and grandeur.

• Massachusetts lawmakers proposed a generational ban on nicotine product sales.
• The state previously raised the legal age for tobacco purchases to 21 in 2018.
• Similar bans exist in other parts of Massachusetts.

A group of lawmakers in Massachusetts are attempting to outlaw young people from buying nicotine products with a proposal that will, in time, prevent everyone from buying them.

Not only would the new proposal prohibit anyone under the legal age of 21 from purchasing tobacco products, it would ensure that anyone born after a certain year wouldn't be able to buy them either, as first reported by the Associated Press.

"We all know the devastating health effects of nicotine and tobacco products, especially on our youth who are targeted by Big Tobacco," Democratic Sen. Jason Lewis said in a post on X on Tuesday.

Lewis and others plan to file the Nicotine-Free Generation bill at the start of 2025.

Massachusetts has already taken on tobacco products recently and won. In 2018, the state raised the legal age to buy tobacco products, such as cigarettes, cigars, and e-cigarettes, to 21. The Bay State would be the first state to adopt a ban of this kind.

This generational ban is somewhat unique nationally but has already taken place within the state. Brookline, Massachusetts, a town five miles outside Boston, put in place a similar ban in 2020 — anyone born after January 1, 2000, is unable to ever purchase tobacco products.

It was challenged, but courts upheld the ban in early 2024. Nearby Massachusetts towns, such as Malden, Melrose, Reading, Stoneham, Wakefield, and Winchester, followed Brookline's playbook and also placed generational bans on tobacco products.

In the US, California is trying to ban the purchase of tobacco products by 2073. New Zealand was the first country to impose a generational ban, but the country repealed that ban this year.

According to the Centers for Disease Control and Prevention, nearly nine out of 10 adults who smoke cigarettes daily tried smoking by the age of 18.

Lewis said that this proposed ban would be aimed at the youth in an attempt to protect them from the health concerns of tobacco products.

"This bill will not take away the right to purchase nicotine and tobacco products from anyone who is already legally able to do so," he said. "Rather, this legislation will protect future generations from nicotine addiction and the resulting health harms."

• Trump vowed to impose tariffs on Canada and Mexico on his first day in office.
• Canada's prime minister Justin Trudeau warned tariffs will harm both Canadian and American consumers and industries.
• Trudeau said he and Trump will "work together as we previously did."

Canadian Prime Minister Justin Trudeau responded to President-elect Donald Trump's Monday vow to impose tariffs on Canada and Mexico on day one in office.

Trudeau, who's been Canada's prime minister since 2015, told reporters in Prince Edward Island, Canada, that Trump's expected action will have consequences not just on Canadians but also on American consumers, according to the Associated Press.

"Our responsibility is to point out that he would not just be harming Canadians, who work so well with the United States, but he would actually be raising prices for Americans citizens as well and hurting American industry and business," Trudeau said.

After a phone call earlier in the week to discuss the plans, Trudeau also made his way to West Palm Beach on Friday to meet with Trump, sources told Bloomberg.

Trump plans to impose 25% tariffs on goods coming from the northern and southern neighbors of the US. He said it's a direct response to the inflow of immigrants and narcotics coming into the country illegally from Canada and Mexico, he said.

Canada and the US worked together during Trump's first presidency when re-negotiating the North American Free Trade Agreement. Trump threatened to use tariffs then as well. His threat of tariffs on imports from Mexico led to an expansion of the Migrant Protection Protocols program across the US-Mexico border.

Trudeau noted that the two have been able to come to an agreement in the past.

"We can work together as we did previously," Trudeau said.

While Canada has yet to impose any tariffs of its own, a senior official told AP that it is looking into introducing retaliatory tariffs on certain items from the US.

"We're going to work together to meet some of the concerns," Trudeau said. "But ultimately it is through lots of real constructive conversations with President Trump that I am going to have, that will keep us moving forward on the right track for all Canadians."

Mexico's President Claudia Sheinbaum Pardo has already said that her country would impose tariffs on the US if Trump goes through with his plan.

Sheinbaum said during a press conference this week that "one tariff will be followed by another, and so on, until we put joint ventures at risk."

As previously reported by Business Insider, Canada was the top export destination for 32 states in 2016. According to the Toronto Region Board of Trade, about 77% of Canada's exports go to the US.

• Florida is one of the most popular destinations for people moving from one US state to another.
• New census data shows that many more people moved into Florida than left between 2022 and 2023.
• The number of people leaving is up over issues such as rising costs and natural disasters.

When Derek Edwards was living in Wisconsin and Colorado, he often traveled to the Caribbean via Florida.

He liked his layovers so much that he decided to move to Miami when he was 28. Edwards, a teacher, said the weather has been worth it even if rent and groceries are more expensive.

"It's just beautiful," he told Business Insider earlier this year. "Just in case I don't stay in Florida forever, I'm going to go to the beach as much as I can."

Drawn by the balmy climate, numerous outdoor activities, and more, hundreds of thousands of movers like Edwards choose Florida every year. Census data released on October 17 indicates that between 2022 and 2023, nearly 637,000 people moved to Florida from another state, while nearly 511,000 left the Sunshine State for somewhere else in the US.

Those estimates come from the Census Bureau's release on state-to-state migration flows based on results from the 2023 American Community Survey. The annual survey asks, among many demographic and economic topics, whether respondents moved in the past year and, if so, which state they used to live in.

The net inflow during this period, however, was not as dramatic as in the previous year. From 2021 to 2022, nearly 739,000 people moved to Florida, while almost 490,000 left for another state.

Florida leavers have told BI in interviews that they are motivated by various factors, including increasing insurance costs, a rising cost of living overall, and the increasing intensity of natural disasters.

Read on for an analysis of where movers to Florida came from, based on census estimates — and where Sunshine State leavers headed for greener pastures.

New Yorkers continue flocking to Florida

New Yorkers still move to Florida in droves.

The New York-to-Florida route taken by over 71,000 people was the second-most-popular route for all movers within the US between 2022 and 2023 — behind only California to Texas. Still, it's a big drop from the 91,000 movers from New York to Florida between 2021 and 2022.

Many New Yorkers flee south in search of a cheaper life and better weather, though SmartAsset's analysis of IRS tax data found those who made the move in 2023 didn't save as much as those in previous years.

Most still do save money: Someone making $100,000 in New York could save $37,166 yearly in Miami in 2023, compared with the $51,273 they might have saved in 2019, SmartAsset found. This is partly due to Florida's rising utilities and housing costs.

Nearly 44,500 people moved from Georgia to Florida between 2022 and 2023 — even though about 55,000 people moved from Florida to Georgia, likely driven by Georgia's relatively lower cost of living.

Over 39,000 left California for Florida in that same period. Some people who moved out of the Golden State told BI their decisions were due to rising costs and shifting politics. Terry Gilliam, who moved from California to Florida over weather and political concerns, has started Facebook groups helping others make similar moves, which have attracted almost 300,000 members in total.

People who move out of Florida tend to stay in the South

Like in last year's release, Georgia was the most-popular state for those leaving Florida.

Some former Florida residents who moved to Georgia have said they wanted a similar climate but needed to leave as the Sunshine State became more expensive and commercialized. Others cited skyrocketing home-insurance costs.

• A small town in Italy is offering homes for 1 euro to attract Americans amid the recent election cycle.
• Ollolai's initiative is part of Italy's broader "Case a 1 euro" program started in the 2010s.
• There is also an option for digital nomads to work there for a month for only 1 euro.

In the lead-up to an administration change, you might hear someone say they're leaving the country for good. A small comune on the island of Sardinia in Italy is listening.

Ollolai, a town of 1,154 people, according to the Italian National Institute of Statistics, created a website geared toward helping Americans find homes in its town for just 1 euro (or about $1.05), taking advantage of the latest election cycle.

"Are you worned out by global politics," the new website reads. "Looking to embrace a more balanced lifestyle while securing new opportunities? It's time to start building your European escape in the stunning paradise of Sardinia."

Roughly one dollar for a home in a picturesque town in the middle of an Italian island — about 50 miles from the beach — might sound too good to be true. The homes offered aren't in the best condition and would require about $25,000 in renovations which must be completed within three years, according to previous reporting from Business Insider.

But if you're willing to put some effort into your home, Ollolai will welcome you.

"We just really want, and will focus on, Americans above all," Mayor Francesco Columbu told CNN. "We can't of course ban people from other countries to apply, but Americans will have a fast-track procedure. We are betting on them to help us revive the village, they are our winning card."

"Of course, we can't specifically mention the name of one US president who just got elected, but we all know that he's the one from whom many Americans want to get away from now and leave the country," Columbo told CNN.

The transition team for President elect-Donald Trump did not respond to Business Insider's request for comment.

This isn't a new program — and Ollolai isn't even the first town to try the approach.

"Case a 1 euro," which means "houses at 1 euro," is a program across Italy that launched in the 2010s to revitalize the dwindling populations in more rural towns. Ollolai started offering 1-euro homes in 2018, but other towns, like Sicilian commune Gangi, started giving away vacant houses in 2015.

Americans moving to Europe, and Italy specifically, has been a somewhat common trend. But if you don't want to commit fully to moving across the ocean, a redirect from the Ollolai website luring potential buyers offers an option for digital nomads.

"Work from Ollolai" is a program that lets "successful professionals" live in the municipality for just 1 euro as long as they "promote an exchange of information" to rural communities through presentations, classes, or projects.

That covers rent and, according to the website, guests can stay for a maximum of one month.