A Couple of Things... (January 23, 2018)

DID YOU KNOW? JP Morgan has plans to hire 500 new mortgage employees to grow home lending in low- and moderate-income communities to $50 billion over the next 5 years. The bank lent an average of $7.7 billion to such communities from 2015 to 2017.

DID YOU KNOW? According to OXFAM, a new billionaire was minted every second day in 2017. 82% of all wealth created in 2017 went to the richest 1%, while the poorest half created zero wealth. The total number of super rich individuals across the globe grew to 2,043, surging by $762 billion. The net worth of the top 500 billionaires grew 23% to $5.3 trillion in 2017. And if you thought that was impressive, wait for the figures that 2018 will produce.....

DID YOU KNOW? The US Government slapped a 30% tariff on imported solar cells and modules in the first year, with the tariffs declining to 15% by the fourth year. Watch the cost of solar rise.... New tariffs have also been imposed on imported washers and dryers so expect that LG, Miele, Samsung washer/dryer to cost LOTS more. The tariff is 20% for the first 1,2 million and 50% for above that number.

DID YOU KNOW? Singapore, South Korea and Sweden are the three most innovative countries in the world.....the US dropped off the TOP 10 list but is still #1 in HIGH TECH DENSITY.

DID YOU KNOW? Watch those 55+ year old buyers! (it's not just Milennials whose appetite for real estate trades is soaring.) Sales in master-planned communities, many targeting buyers 55+, reached a record in 2017.

DID YOU KNOW? 50% of the 50 largest metropolitan areas were overvalued relative to incomes in November, 2017 compared with 36% two years earlier, according to CoreLogic. A rate rise from 4 to 5% for a 30-year loan would drive up monthly mortgage costs by 12%. That’s on top of the annual median price gain (7%) for existing homes.

Disposable income, or earnings adjusted for taxes and inflation, increased just 1.9%.

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