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Did you know? The Turkey Trot is the oldest continuously run footrace in the United States.
Did you know? Rent hikes are slowing or coming down....that's about a third of US CPI. Oil is down now about 13% in one month below $80 a barrel and energy represents about 7.5% of CPI. Together these 2 items alone account for over 40% of CPI...
Did you know? Have you noticed lettuce prices are WAY up? Restaurants are stunned by the massive increase. Two pathogens known as Pythium Wilt and INSV are to blame. Together they are spreading a virus among lettuce and other leafy greens that's likely to destroy crops similar to what happened in 2020 when a third of the Salinas Valley lettuce crop was destroyed resulting in a $100 million loss for farmers.
Did you know? Food is much more expensive these days.....and corporate profits for those selling food are waaaaay up! One example is Chipotle, which said prices by the end of the year would be nearly 15% higher than a year earlier ....and then reported $257+ million in profit in the latest quarter, up nearly 26% from a year earlier. Obviously their pricing covers higher costs PLUS a wee bit extra..... Recent earnings calls show many corporations have used inflation, the pandemic and supply chain challenges as an excuse to exaggerate their own costs....and reap enormous profit gains. Now the FED's actions to fight this inflation is hurting the real estate industry - and homeowners, buyers, and renters.
Did you know? In Q4 2019, US households held about $1 trillion in what was effectively cash—currency and accounts against which checks could be written. By the end of Q2 2022, this amount had leapt to $4.7 trillion. Nothing like this has happened in the past 70 years—though consumer spending stats point to something similar having occurred during World War II. The federal government put almost $1.5 trillion directly into Americans’ pockets over the course of 2020 and 2021 with stimulus checks and supplementary unemployment benefits, and other aid programs indirectly funneling more. Those who kept their jobs and/or were above the stimulus-check income limits enjoyed windfalls from the stock and real estate markets. Spending options were few, especially early in the pandemic, and until recently interest rates were so low that there wasn’t much point in moving money out of one’s checking account (or from under the mattress). This massive cash reserve makes this 'recession' very different. (Bloomberg)
Did you know? What are the alternatives to high mortgage interest rates? Loans against stock or other asset portfolios (safer when markets are down), and seller financing. (WSJ)
Did you know? AMAZON is laying off about 10,000 employees as the economy slows due to rising, now high-interest rates and overstocked retail as consumer tastes shift and inflation subsides...... This is obviously not great news for those losing their jobs, yet few if any articles mention the tiny little fact that AMAZON created 500,000 new jobs in 2020, adding another 300,000 to its global workforce in 2021...with 1.6 million in total....minor details! 🤔
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