Did You Know? The construction industry, which accounts for around 4% of U.S. gross domestic product still operates largely the way it did 100 years ago. (WSJ)
Did You Know? Even CARS are experiencing bidding wars now and selling ABOVE their sticker prices! (WSJ)
Did You Know? The U.S. economy, turbocharged by stimulus worth almost $6 trillion and hungry for the world’s goods, is playing the role China played in the aftermath of the 2008 financial crisis, economists say. While other countries largely welcome a burst of demand from the world’s largest economy, the force of America’s expansion is ricocheting through financial markets and causing dislocations around the world such as shipping bottlenecks in East Asia, effects on currencies, and booming commodity prices. (WSJ)
Did You Know? Property investors are piling into less traditional real estate such as data and research centers. Blackstone recently spent $3.5 billion on a portfolio of life sciences labs. Interest in these assets has been growing for years but skyrocketed during the pandemic: 2020 was the first year on record when more money was spent in the U.S. on industrial properties, such as e-commerce warehouses, than on offices. (WSJ)
Did You Know? While the global economy soars back to life, OPEC could not agree to an oil production increase after big cuts in 2020 due to the pandemic, instead reveling in massive price (and profitability) increases .....which may help re-ignite shale oil production and solar/wind/renewable energy too.
Did You Know? Americans age 70 and above had a net worth of nearly $35 trillion, according to Federal Reserve data. That's 27% of all U.S. wealth, up from 20% three decades ago. Their wealth is equal to 157% of U.S. gross domestic product, more than double the proportion 30 years ago. Older generations will hand down around $70 trillion between 2018 and 2042. Roughly $61 trillion will go to heirs—increasingly millennials and Generation Xers—with the balance going to philanthropy. And lots of that money will be designated towards buying a home..... (WSJ)
Did You Know? The S&P 500 hit a record high last week after hitting records seven days in a row, the first time this has happened in 24 years. The US economy is like a July 4th fireworks display! (Barrons)
