Did You Know?
The top 0.1% wealthiest Americans (137,000 households)have seen their total wealth more than double since the end of 2019, gaining a total of $14.5 trillion in wealth over that period, with most of that—about $10 trillion—coming from gains in stocks and mutual funds. The average wealth for a household in this group is more than $200 million. As of 2022, the minimum for the top 0.1% was $45.8 million. In the top 0.1% by wealth, 37% earn most of their income from businesses, and 26% derive it from capital gains. The 0.1% now control about $28 trillion, or about 15% of the nation’s total wealth, (WSJ)
Did You Know?
The baby boom began in 1946, after World War II. By 1957, the total fertility rate had risen by about 30%, reaching 3.7 children per woman, a modern high. Among Americans of childbearing age, homeownership rose to 50% in 1960, from 20% in 1940. Researchers over decades have tried to explain that burst of fertility. Hypotheses included the economic security that families felt, in contrast to the war years, and the sharp drop in health risks during pregnancy. (NY TIMES)
Did You Know?
Medium-sized data centers consume about 110 million gallons per year, which matches the annual indoor water use of roughly 1,000 households. An acre of avocado trees consumes 975,000 to 1,95 million gallons each year. California has approximately 50,000 acres of land dedicated to growing avocados.....combined their water consumption matches the annual water use of 454,000 households.....something to ponder perhaps next time you are eating your avocado toast scrolling on CHAT GPT……
Did You Know?
G-wagon owners are breathing a sigh of relief: the federal government will require an average of 34.5 miles a gallon for vehicles by model year 2031, down from the 50.4 miles per gallon standard set by the prior administration.
Did You Know?
Are Older Americans and baby Boomers far wealthier today than in 1990? Or has the VOLUME of older Americans grown more? Today those aged 55 and older own 73% of all US wealth compared to 56.4% in 1990.......BUT........in 1990 the 55+ population represented 19% of the total US population: today that number is....30.9%....or 115% higher!
Why Are Mortgage Rates Rising?
The Fed controls short-term rates, but mortgage rates follow the bond market, which is worried about inflation and government borrowing.
According to the Wall Street Journal, the six main reasons are:
- Tariffs
- Higher oil prices from the war with Iran
- A smaller labor force
- Tax cuts
- More spending
- Pressure on the Fed to cut rates while inflation was still hot
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