MarketWatch: Weekly Real Estate Update for Riverdale, Bronx – 1/1/2023 – 1/8/2023

Did You Know?

* M2 money supply has dipped from a peak of $21.7 trillion in July 2022 to $20.77 trillion in November 2023. M2 is down a little over 2% on a year-over-year basis and 4.31% from it’s all-time high set in mid-2022. It’s the first notable drop in M2 money supply since the Great Depression.  This is not a huge dip but indicates people and businesses may soon have to cut back spending on more things. That can trigger a recession. I expect the Fed is watching this….which could lower rates sooner to avert damage. 

* Here are some recent design trend items people disliked – that may provide you some insights….. Not enough storage: MORE closets and storage please!
Faux wood beams that are obviously fake and out of character.
Huge open showers with no door and too many spray options.
Too much exterior lighting.
Microwaves built into lower cabinets and difficult to see.
Faux vinyl weathered gray wood floors.
No entry way in a climate where this simply makes sense.
Fake shutters.
No medicine cabinets in a bathroom.
Walk in closets only accessible through a bathroom.
Farmhouse style on homes where it simply looks wrong.
Vinyl fences that shine.  (BUZZFEED)

* Most say your prime ‘earning years’ are in your 40’s-50’s…..Director Steven Spielberg – age 77 years old – is another example of people continuing to work much later in life, even though they don’t need the money. His net worth has more than DOUBLED in the past 8 years. About 26% of people between 65 – 74 are continuing to work, and that number shrinks to about 7.3% for people over 75, according to census data. 

Courtesy of Stephen Lascher, Wells Fargo