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Did You Know?
RH (which also owns WATERWORKS) - a good indicator for the interior furnishings world - saw sales climb over 8% in the third quarter of 2024 before the election. November demand was up 18%.... RH has already been moving manufacturing away from China and Mexico in preparation for new tariffs....and more reliable supply chains. (FURNITURE TODAY)
Did You Know?
The end of the Franklin Fire in Malibu may be in sight. It has scorched about 4,000 acres and destroyed several structures, but thankfully all are safe and the fire is about 30% contained. Planting native coast Live Oak trees can rejuvenate the struggling population of existing oaks and slow fires by creating a natural buffer to fend off the invasive grasses that have replaced the native chaparral ecosystem. (LA TIMES/USA TODAY)
Did You Know?
Only 43% of Gen X respondents to a recent survey said they can afford to retire at age 65, and for those without a 401(k), 26% said they don’t expect to retire at all. 76% said politicians have no idea how to fix Social Security. (BLOOMBERG)
Did You Know?
Apple's 1980 initial public offering 44 years ago was the largest IPO since Ford went public in 1956. Originally priced to sell at $14 a share, the stock opened at $22 and all 4.6 million shares were sold in minutes and rose almost 32% that day to close at $29, giving the company a market evaluation of $1.778 billion. Had you invested $1,000 in the stock at its IPO, your investment would be worth over $2 million today, excluding the dividends that were paid to you over the years.
Did You Know?
Family offices don’t have to comply with the Corporate Transparency Act due to a court stay. (CNBC)
Did You Know?
An estimated $124 trillion could be passed to family members and charity by 2048. About $62 trillion will be passed on from the wealthiest 2% of Americans, or those with a net worth of over $5 million. While the largest handovers are still a decade or two away, an estimated $2.5 trillion a year is currently being passed down to the next generations. The annual windfalls will rise to $3 trillion a year by 2030 and to $4 trillion a year in 2036, eventually growing to over $5 trillion per year. (Cerulli)
Did You Know?
The share of wealth held by those worth $10 million or more jumped from 40% in 2020 to 44% in 2023. At the same time, the amount of wealth held by those 60 or older increased from 54% in 2020 to 61% in 2023. (Cerulli)
Did You Know?
Americans with mortgages held $17.2 trillion in home equity at the end of Q3 2024, or $11.2 trillion of ‘tappable equity’—the amount homeowners can borrow against while maintaining a healthy 20% equity stake in their home. Talk about potential stimulus dollars! (CNBC)
Did You Know?
Those who believe corporations relocating to another state do so purely for tax savings, think again: one of the biggest incentives to do so is the ability to pay lower wages due to lower cost-of-living.....especially housing! Moving a tech company from San Francisco to Austin could reduce employee wages by 15%, thanks to cost-of-living savings. Those savings fuel profits. Local tax incentives are another big driver: Oracle moved to Texas with the lure of tax breaks....but then Nashville offered a $250 million tax break so they relocated to Tennessee.....(Bloomberg)
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