Hello Valued Clients! 👋
Excited for our latest edition? We’ve got a rich blend of real estate and market trends that are sure to intrigue! Let’s dive in:
🏠 Housing Market Dynamics:
It’s a complex picture out there! With mortgage rates and house prices both climbing, the US housing market has been unusually sluggish. However, this general trend hides the diversity within. According to Zillow, while home prices nationally rose by 3.2%, specific markets like the Northeast and Florida are heating up, whereas Austin has seen a significant price drop. It’s a market of contrasts!
📊 The ‘Magnificent 7’ in the Stock Market:
The S&P 500 is basking in glory, thanks in no small part to seven tech behemoths – Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla. These companies are not just part of the index; they are the index, making up a staggering 28% of its value. Their growth trajectory has been nothing short of phenomenal.
🚀 Entrepreneurial Surge:
2023 was a landmark year for new businesses. Yelp’s data reveals a 20% increase in new ventures compared to 2022, with the home services sector leading the charge. This entrepreneurial wave reflects a robust American spirit, adapting and thriving even in challenging times.
🎉 Apple Mac’s 40th Anniversary:
It’s been 40 years since the Apple Macintosh debuted, changing the computing world forever. This iconic product, which now contributes a significant $29 billion in sales, has evolved but continues to be a crucial part of Apple’s ecosystem.
👩💻 Teen Employment Trends:
US teenagers are increasingly joining the workforce, with 37% of 16-19 year-olds employed or seeking employment last year – the highest since 2009. This marks a significant cultural shift, with teens contributing more to the economy and gaining valuable life experience.
⏳ Upcoming Economic Events:
All eyes are on the Federal Reserve’s decision today and the labor job market report this Friday. These will be pivotal in shaping our economic understanding and investment strategies.
In summary, while the housing market shows a complex and varied picture, the stock market, led by the ‘Magnificent 7’, continues to soar. The rise in entrepreneurship and teen employment reflects a dynamic and evolving economy. Stay tuned for our next newsletter, where we’ll bring you more insights and updates.
Feel free to reach out for a deeper discussion on these topics or any other queries you might have.
Warm regards,
Alan Grismore