Market Update | July 30
Jon Granston | July 30, 2024
Jon Granston | July 30, 2024
Top Headlines: Delivered by Leonard Steinberg
July 30, 2024
01 U.S. middle class median income was $106,100 in 2022, but the share of Americans that were considered middle class fell to 51% in 2023, down from 61% in 1971. The share of upper-income Americans grew by slightly more than that of the lower-income segment during that time.
(PEW)
–Dr. Ruth Westheimer
03 No more checks? Target is the latest retailer to stop accepting personal checks as a form of payment at checkout.
(CNBC)
04 Waterfront living without waterfront risk and high insurance costs? Lakefront living is growing in popularity....and price. Traverse City on Lake Michigan feels like you are on the ocean, but that exquisite huge body of water is indeed a (big) lake.
(MANSION)
05 What do many people do when they sell their company? Buy homes! Austin, Texas born Fashionista Tom Ford’s Billion-dollar sale to Estee Lauder led him to buy homes in Palm Beach, Southampton, Manhattan, Aspen and Los Angeles with a combined value of around $250 million. Another retired CEO bought an apartment in Paris to use 3 months of the year.
(WSJ)