Must Read: High-tax state housing markets have not been hit as hard by capped SALT deductions as initially anticipated – mainly because the AMT didn’t allow affluent residents to use those deductions anyway. However, there has still been an impact and Florida markets are still booming with wealthy new residents.
Holding Up: Eighteen states rang in 2019 with minimum wage increases — some that will ultimately rise as high as $15 an hour — and so far, opponents’ dire predictions of job losses have not come true.
Rich Getting Richer: The wealthiest counties in the US are still growing very quickly in terms of per-capita income.
Temporary Storage: Amazon is renting up cheaper, older warehouses near its major distribution centers for 3rd party sellers to store goods in an effort to streamline deliveries this shopping season.
Downmarket: Luxury malls are expanding as they pursue more younger and less well-heeled customers.
Proceeding with Caution: High net worth individuals (HNWIs) have emerged as an avid group of commercial real estate investors in recent years. Yet even as allocations to the asset class remain strong, investors are treading carefully amid concerns about slowing growth and the near-term economic outlook. See Also: Do not expect much, if any cap race compression between now and the 2020 election.
Misplaced Blame: Tech bros didn’t cause California’s housing mess and won’t be able to fix it. This is a legislative problem and only a legislative solution will work, no matter how much money Silicon Valley giants throw at it.
Tailwind: With no overbuilding in sight, a healthy consumer is still pushing the housing market forward.
Piling Up: Private equity buyout activity in the U.S. is down sharply even as firms’ unspent cash allocated for North American deals hits record $771.5 billion.
Hanging in There: Cryptocurrency has been taking it on the chin recently but is far from dead and the future could be quite bright for survivors of the swoon.
In the Spotlight: After WeWork, both SoftBank’s strategy of boosting company valuations by investing aggressively in multiple venture rounds and its bookkeeping are coming under scrutiny.
Chart of the Day
Got our tree this past weekend and can confirm that this is indeed the case.
Whatever it Takes: A woman faked a medical issue in order to get a bigger seat on an airplane because Florida..
Mind Your Own Business: A drunk man who was masturbating in a supermarket’s parking lot slugged an elderly man who told him to stop because Florida.
Apparently Not: Police in Indiana are searching for a man with the words “Crime Pays” inked on his forehead and wanted in connection to a high-speed pursuit.
Landmark Links – A candid look at the economy, real estate, and other things sometimes related.
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