Fun Fact Friday 🛰️ 10/27/2023
I’ve got 4 fun facts and 1 quote to share with you today. Thanks for reading, and reach out anytime with questions!
Fun Fact 1:
26% of household wealth is held by Americans who are 70 years and older.
Source: Unusual Whales, Federal Reserve Board of Governors
Fun Fact 2:
The housing market is becoming increasingly frozen, with fewer existing homes selling today than at any point since 2010. The 3.96 million annual rate is even below the lowest level of sales during the 2020 covid shutdowns (4.01 million).
Source: Charlie Bilello
Fun Fact 3:
Even with the market in a state of freeze, the median asking price for homes is up 5%.
Commentary: Why are prices still elevated? A lack of available supply. Many existing homeowners with low mortgage rates are simply not selling, both due to choice (they don’t want to give up their low mortgage rate) and necessity (they couldn’t afford to purchase the same home they are living in at current rates/prices). The result: fewer existing homes are for sale today (1.13 million) than any other September on record (note: data goes back to 1999).
Fun Fact 4:
Who owns the most satellites?
Source: Visual Capitalist
Quote I’m pondering:
“By failing to prepare, you are preparing to fail.” – Benjamin Franklin
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Disclaimer: All information provided is for educational purposes only and does not constitute investment, legal or tax advice, an offer to buy or sell any security, or to buy or sell real estate property. Read our full disclosures HERE.