Quote of the Day….“The rent is too damn high!” – former NY gubernatorial candidate Jimmy McMillan of the Rent is Too Damn High Party referring to how rising rents are pushing more Millennials to purchase homes.
Must Read from Oaktree’s Howard Marks on the concept of liquidity: “Usually, just as a holder’s desire to sell and asset increases (because he has become afraid to hold it), his ability to sell it decreases (because everyone else has also become afraid to hold it). Thus (a) things tend to be liquid when you don’t need liquidity, and (b) just when you need liquidity most, it tends not to be there.”
New US bank formation is now at its lowest level in 50 years. The implication for small businesses is not good.
Iran has been stockpiling oil over the past 2 1/2 years. If sanctions are dropped this June, it could flood an already weak market.
And the bull said….
“Reports of the demise of the suburbs have been greatly exaggerated” – Migration patterns are favoring non-metro areas again as the memory of the Great Recession fades.
And the bear said…..
“Drive until you qualify” The cities and close in suburbs are not getting any cheaper and the relationship between Americans and jobs is becoming an increasingly long distance one.
Rents are beginning to slow down in once red-hot oil towns in Texas.
And the people say…..
SunCal just made a huge bet on downtown LA.
This new app reveals what your exact location looked like in the past.
Predictions of the demise of Facebook’s dominance in the social media space have become a virtual hobby for some.
Believe it or not: China used more cement from 2011-2013 than the US did in the entire 20th century.
Chart of the Day
Mortgage rates are incredibly low and still falling.
Don’t flush: “Human feces contains gold and other precious metals that could be worth hundreds of millions of dollars, experts say. Now the trick is how to retrieve them — a potential windfall that could also help save the planet.”
California is number one by far………when it comes to producing porn stars.
Landmark Links – A candid look at the economy, real estate, and other things sometimes related.