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DID YOU KNOW?

Initial jobless claims, a proxy for layoffs, increased to a seasonally adjusted 262,000 last week from a revised 248,000 the previous week, according to the Labor Department. The weekly number has been on an upward trend since reaching a 50-year low in March. Last week’s total was slightly above the prior 2022 peak set in July of 261,000 and was above the 2019 weekly average of 218,000.  Sadly, the FED is on a mission to weaken the jobs market as they believe it's one way to tame inflation....
 
House prices have grown the fastest in the West since 1991. Utah saw the highest growth of 599.2%. The state’s population has gotten three times larger over the last 50 years, due to both migration and a high fertility rate. Some are drawn by high tech opportunities that earned the state the nickname “Silicon Slopes”.
 
Mortgage rates for 30-year fixed mortgages jumped back above 5%, after briefly and barely falling below that level last week, increasing to 5.22% from 4.99% the week prior. However, those obtaining shorter term mortgages with significant assets and relationship banking are getting notably lower rates.....and discounts based on deposit size.  (YAHOO)
OPINION: US Median home prices were up over 10% in the second quarter of 2022 according to the NAR, but those of us in the day-to-day biz know things have shifted notably in some areas since then. Most data reported 'out there' is several weeks old/after-the-fact, hence the added value of a professional boots-on-the-ground real estate advisor in the know..... 
 
Tiger 21 consists of 1,200 members with a cumulative $140 billion in assets, and individuals must have at least $20 million in liquid assets to qualify for membership. Although real estate had historically been the most popular destination for members’ money, they were now seeing some “real bargains” in the stock markets..... (CNBC)
 
The U.S. built 276,000 fewer homes annually between 2000-2020 compared to the 30 years prior. On average US home prices have escalated 4.4% annually since 1991.....then again what is average?
 
Have you planned who you will send a COMPassessment today?
 
COMPASS is the ONLY brokerage - in the world - with a daily email delivered every single day of the year - 365 days of the year - to provide you with information, insights, opinions and country-wide listings.....and keep us connected at the start of the day.  AND, those in the COMPASS family may use anything in here without ever giving me credit ever. PS: we are getting closer to the 3,000th COMPASS CONTEMPLATIONS........

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