DID YOU KNOW? One in every 11,612 San Franciscans is a billionaire. In 2007, for instance, when 16 Google employees cashed out $3.7 billion in stock, the state netted an unexpected $380 million windfall, used for roads and classrooms.
DID YOU KNOW? The 750 members of Tiger 21, a coalition of investors with some $75 billion in assets, increased their cash holdings by 20% in the 1st quarter, bringing the group’s total allocation to levels not seen since the start of 2013. The move also marks Tiger 21’s first cash-raising effort in three years. While real estate is still the asset of choice, it has steadily fallen out of favor, dropping from a peak of 33% in the 2nd quarter of 2017 to the current 26% level. (Marketwatch)
DID YOU KNOW? 16,087 Americans filed tax returns claiming an income of $10 million or more in 2016. They averaged an income of just over $30 million and averaged a Federal tax rate of about 25%. ($121 billion taxes paid on just under half a trillion) (CNN)
DID YOU KNOW? US rent price growth accelerated, climbing by 2.6% on an annual basis in the first quarter, after a lull in 2018. That is higher than the rate of inflation. A $2,500/month rental payment grows to over $3,200/month after 10 years at this rate.
DID YOU KNOW? The iconic Stan Richman of Los Angeles sends us the following intel. about the ultra luxury market in Los Angeles:
- 170 sales of $5+ million this year, versus 218 at this time last year. (Down 27%).
- Of these, 47 were $10+ million this year, versus 69 at this time last year. (Down 32%).
- Of these,11 were $20+ million this year, versus 23 at this time last year. (Down 52%).
- 5 of these sales were $ 30+ million this year and there were 10 last year. ( Down 50%).
- LA has not closed a sale this year for $40+ million there were 4 closed sales at this time last year.
- The buyers for the 11 twenty plus million dollar sales were mostly American...6 Americans, (55%). The other buyers were from Bulgaria, China, England, Quatar and Columbia.
- Of the eleven $20 million dollar sales 4 were in Bel Air, 4 in Beverly Hills, 1 each in BHPO, Brentwood, and Malibu.
- Of these 11 sales, 3 (27%)were unlisted.
- There are 66 properties pending of $5+ million and 18 of those are $10+ million, 4 are $20+ million, 2 are $30+ million and 1 is $40+ million....