Did You Know?

DID YOU KNOW? The Federal Reserve reports that at the last count, everyone across the financial system, from grandmothers to hedge funds, was holding a total of $2.9 trillion in overnight money market funds, $4.4 trillion in checking accounts and currency, and another $12.1 trillion in savings account and Certificates of Deposit. That comes to $19.4 trillion in gross “cash” and equivalents that is “on the sidelines” of the stock market.....and maybe the real estate markets too? With that much cash on the sidelines, one would have to assume any market corrections should be mild. (Marketwatch)

DID YOU KNOW? Thousands of U.S. home sales are being held up because the federal government shutdown has halted the issuance of new flood insurance policies, a move that lawmakers and a Realtors lobby want overturned. (Bloomberg)

DID YOU KNOW? Major Chinese property stocks have rebounded in the 4th quarter as Beijing works to stabilize the sector. (Marketwatch)

DID YOU KNOW? The tax overhaul capped SALT deductions at $10,000 per return, and the limit applies both to single and married joint filers, but this won’t boost taxes for many filers as much as they fear. Under prior law the AMT often eroded or erased the value of SALT deductions for taxpayers earning between about $200,000 - $500,000. The new SALT cap is likely to affect two other groups most: Those earning less than about $200,000 who took SALT deductions in the past but weren’t subject to AMT, and high earners making about $750,000+ who weren’t subject to AMT in the past and got more value for their SALT write-offs. (WSJ)

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