DID YOU KNOW?
Top Headlines: Delivered by Leonard Steinberg
February 28, 2023
Top 10 U.S. towns where millionaires are buying second homes are: Miami, Florida, The Hamptons, New York, West Palm Beach, Florida, Napa, California, Aspen, Colorado, Santa Barbara and Montecito, California, San Diego, California, Jackson Hole, Wyoming, Carmel-by-the-Sea, California and Boca Raton, Florida. 40% of the Top 10 towns are located in California, 30% in Florida. (Henley and Partners)
02 Even Berkshire Hathaway reported losses for the year 2022, an indicator of the entire US economy with over $900 billion in assets and owner of Berkshire Hathaway Home Services, one of the US' largest brokerages.
03 How did Switzerland - a mostly capitalist society - keep inflation down to 3.5% and below? Switzerland is wealthy, with a strong currency, so the percentage people spend on food is lower.
Swiss energy suppliers are also largely publicly owned, less exposed to extreme market volatility through financial safety nets, while being subject to stricter pricing regulation. Switzerland also has stringent controls on the price of goods and services, which also makes them less susceptible to inflation-led fluctuations: Of the core products used to measure inflation in the
eurozone, including food, housing and transport, 30% are subject to price regulation in Switzerland — more than in any other European country. So price-gouging was limited........ (CNBC)
04 Cities, towns and suburbs with sidewalks often house much healthier citizens: sidewalks encourage more walking and fewer pedestrian traffic related accidents. (BLOOMBERG)
05 Virtual Interior Design Services? Yup! The Expert was started in early 2021 and offers one-on-one virtual consultations with over 150 big-name decorators including Martin Brudnizki, Brigette Romanek, Ashe Leandro and Rita Konig. Prices range from $250 for a 25-minute call up to $2,000 for an hour. (CNBC)
06 Supply restraints fuel inflation about 35% more than demand. The FED's policies only really impact demand. Supply needs to be fueled to moderate pricing in all things, especially housing. (CNBC)