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Housing starts dipped last month to 1.559 million annualized. Housing starts were down 2%. Single-family home construction saw an 8% drop. Multi-family rental housing is not dipping which may be good to bring down rental prices or slow the excessive recent escalations. Building  permits are down 0.6%. 

Demand for mortgages dropped to their lowest level in 22 years fueled by higher rates and recession fears. (CNBC)

Most US cities will spend their share of the federal infrastructure spending package into fixing crumbling roads and bridges. About 80% of cities said they plan to spend their money on local roads, bridges and major projects, with 56% prioritizing road safety, according to a survey of 153 localities conducted by the National League of Cities and Polco. About 60% said they would use funds from the Infrastructure Investment and Jobs Act on water projects. About 34% of the municipalities said they would spend their money on broadband Internet access. About 26% said they’d put the money toward public transportation, while a little more than 25% cited electric vehicles, buses, and ferries. Just 13% identified airports as a spending priority.

Maybe ONE upside to high gas prices? With average gas prices across the US notably higher, the IRS will now allow small businesses that qualify to use the standard mileage rate to deduct 62.5 cents per business mile from July 1 through December 31, 2022, up 4 cents a mile. 20,000 miles = $800.

Online reviews seemed like a good thing....but now it emerges that many are fake (SHOCKING!). Amazon is suing the Facebook administrators of more than 10,000 Facebook groups that allegedly brokered fake reviews. Fake reviews have become an increasing problem for Amazon as its 3rd-party marketplace has grown to amass millions of sellers. (CNBC)

Foreign buyers bought 98,600 U.S. homes in the year ended in March 2022, down 7.9% from 2021, according to the NAR, the lowest level on record since NAR began collecting the data in 2009......but the dollar volume rose 8.5% to $59 billion, reflecting a large increase in U.S. home prices. Many anticipate a slowdown in price ESCALATION, not necessarily prices.... (CNBC)

Jessica Crase of COMPASS Lake Tahoe shared a funny story.... Jessica was showing a property to her clients who dreamed of "the mountain life" only to discover a LIVE BEAR sitting in her client's car, dumping a bag of pretzels on his face after finishing their kids strawberry smoothie.  Well, her Bay Area clients said they wanted "the mountain life" and there you have it...... be careful what you wish for!   ๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚

Many financial firms are known to cull their labor force at the end of the year to 'trim under-performers'.....this year this tactic may return to Goldman Sachs after their recent hiring spree that added 15% to their labor force in the past year. (CNBC)

In America’s Midwest over the past 160 years, nearly 60 billion metric tons of topsoil have eroded. Too much is lost every year due to man-made influences like pollution from fertilizers, agricultural chemicals and antibiotics runoff. Some experts predict the earth will run out of topsoil within 6 decades. Topsoil can be replenished by adding organic matter and cover crops to prevent erosion.

Listen to COMPASS Virginia's Adam Alami's interview for "CEO's You Should Know" that just aired on iHeart Radio. Adam is the founder of a non-profit, RHOLC Foundation, making an impact in the community for the last 7-plus years. Living a life of fulfillment by helping others is what Adam believes a legacy should be.....for his family AND community. 

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