Market Update | December 4

DID YOU KNOW?

Top Headlines: Delivered by Leonard Steinberg

December 4, 2023

01 A recent study looking at sleep and longevity found that sleep “regularity” —going to bed and waking up at consistent times with few mid-slumber interruptions—matters more than how long you sleep. Sleeping six hours every night on a consistent schedule was associated with a lower risk of early death than sleeping eight hours with very irregular habits.

(WSJ)

02 “I’m sorry, if you only want to work four hours, it’s going to be harder for you to get a house.”

–Whoopi Goldberg

03 Buyer Incentives? In Dubai some developers are offering flexible interest-free payment plans over periods of 5 to 7 years instead of buyers needing to mortgage the properties. Down payment requirements are 10-25%.

(Businesstech)

04 Aspen, Vail and Zermatt are the three most resilient ski resorts globally as ski resorts contend with a changing climate that impacts the reliability of snow. 75% of Aspen’s ski runs are north-facing and rise to more than 3,400m....elevation matters! Vail’s EPIC PASS allows you to choose from 41 different resorts globally....with unlimited access to Vail, Breckenridge, Park City, Whistler, Blackcomb and more and limited access to partner resorts in North America, Europe and Japan. Flying to where the snow is.....

(FT)

05 Around 36% of the Swiss own their homes or apartments, the lowest rate in the West and well below the 70% average in the European Union, and the 67% in the United States. The average age of a first-time home buyer in Switzerland is 48, 15 years older than in neighboring France. Switzerland has very strict lending standards with a minimum 20% down payment requirement, a 4% transfer tax, and was not impacted by the subprime mortgage meltdown in 2007-9.... The median net worth of a Swiss homeowner in their 30s is 6X higher than that of a renter of the same age. In their 70’s, Swiss homeowners are 11X wealthier than renters their age.

(New York Times)