DID YOU KNOW
The National Association of Realtors’ index of contract signings to purchase previously owned homes declined 1.5% to 71.4, the lowest in data back to 2001, the group reported Thursday. The median estimate in a Bloomberg survey of economists called for a 2% decrease. Only the Northeast saw an increase in pending sales last month. Sales fell the most in the West, down 6%, while contract signings in the South and Midwest slipped 1.9% and 0.4%, respectively. (Bloomberg)
DID YOU KNOW
Rather than cut expenses, 73% of Gen Zers say they would rather live in the moment, a recent Prosperity Index study by Intuit found. (CNBC)
DID YOU KNOW
In just 2 months oil prices plummeted over 19%......causing OPEC+ to cut production to raise prices. Opec hates DEflation! The US is now producing more oil than at any other time in history, about 13.2 million barrels a day.
DID YOU KNOW
US mortgage rates have fallen to a 10-week low, providing a small boost to loan applications over the past 6 weeks as homebuyers take advantage of lower borrowing costs. The 30-year fixed-rate mortgage rate decreased to 7.37% during the week ending November 24 from 7.41% the prior week. The 10-year Treasury has slipped below 4.3%, down from a high of over 5% earlier this year. (Mortgage Bankers Assoc.)
DID YOU KNOW
U.S. shoppers spent $10.3 billion online on Saturday and Sunday, a 7.7% increase from 2022 (Adobe data). Consumers spent $9.8 billion on Black Friday, a 7.5% jump from 2022 levels. Shoppers are expected to have spent between $12 - 12.4 billion online on Cyber Monday, making it the biggest U.S. online shopping day of all time. The trend of consumers using “buy now, pay later” options is also set to reach an all-time high, contributing $782 million to Monday’s sales—a 19% surge from last year.
DID YOU KNOW
Healthcare-flation? The US spent $1.4 trillion in 2000 on healthcare....that number tripled to more than $4.3 trillion - 18% of the economy - in 2021. Now THAT's what I call price-fixing? 😄😄😄😄😄
DID YOU KNOW
Retail bankruptcies bad for retail? Not always.....Kimco Realty, a real estate owner with 26 former Bed Bath & Beyond leases, said that new leases were 38% higher than Bed Bath & Beyond rents. (CNN)
DID YOU KNOW
In 1985, Warren Buffet was worth around $500 million, a big number for sure! He was around 53 years old......and in the past 40 years his net worth has spiraled past $110 BILLION, showcasing yet again how many of the fortunes of our world are created by those above the age of 50 as the effects of compounding kick into high gear..... The average age of the UHNWI* population is 64.8 and 63.6 for men and women, respectively and I'd bet most did not win a lottery.....chances are the majority of them made their biggest gains after the age of 50 via the compounding effects of their investments.
*UHNWI– noun
- a very wealthy person, in particular one with investable assets in excess of $30 million:
- "UHNWIs see time as their most precious commodity"
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