DID YOU KNOW? The share of Las Vegas-area listings with price cuts rose sharply to 23% in October from 11% a year earlier. (WSJ
DID YOU KNOW? The last time the yield curve inverted was in 2006, a year before the Great Recession began. Yield curves also inverted in 2000, 1989 and frequently between 1978 and 1982, all shortly before recessions.
DID YOU KNOW? Lobbying is BIG BUSINESS.....last year companies spent $716 million lobbying government and Congress. The five biggest spenders in lobbying last year, in descending order, were the U.S. Chamber of Commerce, the National Association of Realtors, Blue Cross Blue Shield, the American Hospital Association and the Pharmaceutical Research & Manufacturers of America. Thanks
Denver Smith for sharing! (THE HILL)
DID YOU KNOW? Apple Music signed a lease for office space in a mixed-use development south of downtown Nashville, in Wedgewood-Houston. Apple Music would occupy all of the brick two-story building at 431 Chestnut St, a building that contains about 25,000sf. Apple Music also will take some of the outdoor event space planned in the project. (Nashville Business Journal)
DID YOU KNOW? Florida's Citizens Property Insurance Corp. will raise residential insurance rates by an average of 8.2% starting in September. Lawsuits are supposedly driving up costs, specifically related to water-damage claims, particularly in Miami-Dade, Broward and Palm Beach counties. Citizens has about 435,000 policies. The hike would hit “personal lines” policyholders, including owners of single-family homes, condominiums and renters, though increases would vary across the state depending on factors such as location. Commercial policies could see an average 9% increase. 97% of homeowners would see rate increases. Many private insurers are receiving approval for double-digit rate increases, while Citizens rate hikes are capped by what is known as a “glide path, which blocks increases of more than 10%. Florida is the most expensive state for home insurance. Its average rate is $3,575/year, which is nearly $2,350 more than the national average of $1,228 for the coverage level of: $200,000 dwelling coverage, $1,000 deductible, $100,000 liability.
DID YOU KNOW? Family offices have become a force in investing, with up to $4 TRILLION of assets, more than hedge funds and equivalent to 6% of the value of the world’s stock markets. There are somewhere between 5,000 and 10,000 of these offices based in America and Europe and in Asian hubs such as Singapore and Hong Kong. The average family office returned 16% in 2017 and 7% in 2016. (The Economist)
DID YOU KNOW? The magnificent Belmond Hotel group is being purchased by luxury conglomerate LVMH.....another sign of how the luxury goods market is expanding to experiences. (WSJ)