(Inflation numbers are rounded up.)
DID YOU KNOW?
About 4 million electric or plug-in electric cars will have been sold in the US since 2016. If each regular car consumes around 479 gallons of fuel per year, this equates to a reduction in gas consumption of about 1.91billion gallons of fuel per year. 32% of US homes used oil to heat in 1960 .....today that's around 5%.
DID YOU KNOW?
Baby boomers and millennials are moving, but not to the same places. During the first three months of 2023, Las Vegas, Phoenix, Tampa and Orlando were among the most popular destinations for baby boomers. Austin also continued to attract inward migration, but at a much lower level than in previous years. The metro areas with the highest level of baby boomer outward migration in the first quarter were Washington, D.C., New York City, San Francisco, Seattle and San Jose. For millennials, Austin was overwhelmingly the most popular metro for inbound migration in the first quarter. Cleveland, Tampa, Dallas and Charlotte also attracted millennial arrivals, but with far fewer numbers than the Texas capital. Millennial outbound migration was most notable in Los Angeles, Boston, New York City, San Jose and Seattle.
DID YOU KNOW?
When we pay lower taxes, we have more money to spend and invest. Could the massive migration in the past 3 years to low or no-tax states have fueled the spending power of millions of Americans....which maybe (inadvertently) also fueled inflation in these states, especially housing inflation? Florida, Texas, North Carolina, South Carolina, Tennessee, and Georgia had the highest number of in-migration and are amongst states with the lowest (or no) state taxes too. And some of the biggest home price/rental escalations too. About 35% of income on average is spent on housing
DID YOU KNOW?
The vanishing cord? Yup, have you noticed how many things are fueled by batteries? Lawnmowers, lights, shades, drills, etc. The list keeps growing! (CNBC)
DID YOU KNOW?
More evidence that inflation is slowing and the only REALLY effective solution is fueling supply, not just decimating demand: rents are coming down in many parts of the US after massive hikes over the past 2-3 years...fueled by high demand and UNDER-supply. 2023 will represent the biggest delivery of new apartments in nearly 40 years (about 500,000 units)! More evidence that developers may have concentrated their efforts on the wrong product when there is such a shortage of homes for sale? Maybe the tax incentives to be a landlord - combined with the allure of never-ending rent hikes - is the problem? Rent hikes at renewal could be met with new vacancies which already increased 2.6 percentage points over the course of 2022. Rents have dropped in 46% of the US' biggest markets. More RE-BALANCING coming..... (WSJ)
DID YOU KNOW?
Nestled between San Francisco and San Jose, Fremont just signed a 210,000sf lease with TESLA to produce extended range truck batteries.
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