Did You Know? U.S. home sales in 2020 surged to their highest level in 14 years, fueled by ultralow interest rates and a pandemic that sent buyers scrambling for more spacious homes to accommodate remote work. Economists say today’s housing market is less risky than during that boom 14 years ago. Mortgage lending standards are tighter, and the supply of homes on the market is lower relative to demand. There were 1.07 million homes for sale at the end of December, down 23% from December 2019, according to NAR. (WSJ)
Did You Know? Americans grew their personal savings by 173% year-on-year between March and November last year, as disposable incomes ballooned by $1 trillion and household spending tumbled by $535 billion. Economist Paul Krugman forecasts a dramatic and sustained period of economic growth ahead of us. (NY TIMES)
Did You Know? The only way to achieve genuine greatness is to push yourself right up to the limits of your ability. And when you’re operating out there, you’re guaranteed to feel uncomfortable. So, how you perform under duress depends on how constructively you manage your own discomfort. Learning to manage discomfort is the secret to greater achievement in life. (WSJ)
Did You Know? A third, single-shot vaccine from Johnson & Johnson has just been approved, further accelerating the immunization efforts in 2021.
Did You Know? Social Security’s trust funds are running low. Based on the most recent projections, just 79% of promised benefits will be payable by 2035. Now there is a discussion about raising the retirement age to 70.... (CNBC)?
Did You Know? Early on in the coronavirus pandemic, many predicted a “baby boom” would result, thanks to all the idle hour's couples were forced to spend at home. So far, though, the research suggests the opposite may be true: We’re in the early days of a “baby bust.” Several states and a few hospital systems that keep track of births saw significant drops in birth rates in 2020…. (Huffington Post)
Did You Know? How will the Biden plan impact high income and high net worth Individuals… Planning is critical…. check out an analysis below from Armanino.