|
DID YOU KNOW?
These days, about 23 million, or 45%, of all Americans ages 18 - 29 are living with family, roughly the same level as the 1940s. (Bloomberg)
DID YOU KNOW?
90% of the solar panels produced in 2022 were based on the inventions that came out of Martin Green's lab, a professor at the University of New South Wales in Sydney. Martin made his first solar panel in 1971, more than 50 years ago. The industry at that point was tiny, but it got a boost in the aftermath of the 1973 OPEC oil crisis, as the US and other countries sought to reduce their reliance on imported oil. China makes around 40% of the world's solar panels, get about 12.2% of power from solar and 12.6% from wind....and could be the most beneficial as China is one of the world's biggest polluters with strorg reliance (55%) on dirty coal power plants.....down from 70% in 2001. 73% of India's power comes from coal.
DID YOU KNOW?
Applications refinance home loans jumped 13% last week compared with the prior week. Applications for home purchases increased 2% for the week but were 26% lower than the same week a year ago. The FED did not raise rates last week but indicated they would stay higher longer.....and by the way, Switzerland indicated its rate hikes may be over. I hope that is the same with the US.(CNBC)
DID YOU KNOW?
US Core Inflation Rate is at 4.35%, compared to 4.65% last month and 6.32% last year. While this is higher than the long term average, it's important to note the long term average is 3.68%....notably higher than the 2% we keep hearing about! The Core US Inflation Rate is one of the most important metrics for the US Economy. Inflation is also used by the US Federal Reserve to gauge the health of the economy. From 1960 to 2022, the average inflation rate was 3.8% per year. (Y-charts)
DID YOU KNOW?
Invitation Homes , which owns about 83,000 houses, has been selling properties that have appreciated to the point that they are yielding less than 4% and putting the proceeds in the bank, where the cash is earning more than 5%. (WSJ)
DID YOU KNOW?
Last week, the price of a mama's granola ranged from $4.98 to $7.78...a 56% difference..... Starbucks coffee varied by 85%......and 'they' say there is no price gouging out there..... Olive oil prices spiked to fresh records as severe droughts in major producing countries continue to crimp supplies (CNBC)
DID YOU KNOW?
In fire prone areas key mitigation strategies include fire-proofing or replacing potentially flammable roofs, siding and decking, and checking vents and other potential points of entry to ensure that flying embers can’t penetrate the interior of the property. Homeowners should also invest in fire-resistant landscaping and consider installing fire-resistant window treatments, smoke detectors, fire extinguishers and devices such as sprinkler systems and air-filtration systems. A house with both a fire-resistant roof and a safe zone—the first 0-5ft around a home should all be wildfire resistant, with the right landscaping 30 -100ft out as well —is 85% more likely to survive a wildfire. Add a roof sprinkler system and you are increasing that percentage even more. (Mansion)
DID YOU KNOW?
The U.S. housing market is facing increasing risks from more frequent and damaging natural disasters. Insurers are the first to endure the losses.... but the mortgage industry might be in a more precarious position. Insurers renew policies every year, allowing them to raise premiums or cut underwriting when a market becomes too risky. Mortgage lenders, on the other hand, could be stuck with a property—and its risks—for as long as 30 years, often on fixed interest rates. Often insurance payouts don’t cover the total costs to rebuild which could make it difficult for homeowners to make mortgage payments, especially as high insurance costs further strain their bank accounts. In extreme cases, the damaged properties might not recover at all. But such risks aren’t incorporated in mortgage pricing. (BARRONS)
|
