HAVE TO MOVE QUICKLY For the 12 months ending 6/30/21, US homes for sale were on the market for a median period of just 7 days before going under contract. That’s the shortest period recorded nationwide in data that has been tracked since 1989 or more than 3 decades. (Source: National Association of Realtors) THAT’S NOT NORMAL The average home in the United States has appreciated +23.4% in the 17 months from 36/31/20 (as the pandemic began) to 8/31/21. For the 8 “Mountain” states tracked … [Read more...]

BUSINESS BY STATE Just 4 US states have economies worth at least $1 trillion as of 6/30/2021, including California ($3.3 trillion), Texas ($2.0 trillion), New York ($1.9 trillion) and Florida ($1.2 trillion). These top 4 states represent 37% of our nation’s economy. (Source: US Bureau of Economic Analysis) ONE YEAR The midterm elections will be held on 11/08/2022. All 435 House seats of 34 of 100 Senate seats will be contested. The President’s party has lost House seats in 18 of the last 20 … [Read more...]

CHEAPER The average interest rate that the government pays on it interest-bearing debt as of 9/30/21 was 1.605%, down from 2.492% as of 9/30/19, allowing the USA to borrow 55.3% more money today than borrowed 2 years ago and still have the same out-of-pocket interest expense cost. (Source: Treasury Department) TAX NUMBERS The top one-tenth of 1% of US taxpayers (1 of 1,000) in tax year 2018 (the latest year for which tax data has been released) made at least $2,514,209 in adjusted gross … [Read more...]

BILLIONS As of the close of stock trading on Monday 10/25/21, Elon Musk was worth $255.2 billion, the first American ever to exceed $250 billion in net worth. (Source: Forbes) STAGGERING WEALTH An individual spending $10 million a day would consume $250 billion in 68.5 years. (Source: BTN Research) BACKDATE Tax reform legislation signed by President Clinton on 8/10/1993 retroactively increased marginal tax rates back to 1/1/1993, the last time a retroactive tax increase occurred in the … [Read more...]

THE MOST PAID The maximum Social Security benefit paid to a worker retiring at full retirement age in 2022 is $3,345 per month, more than double the $1,660 per month maximum benefit paid 20 years earlier in 2002. (Source: Social Security) TAX THE OTHER GUY 71% of voters surveyed in early October 2021 support an increase of federal income taxes on the top 2% of US taxpayers to pay for the “Build Back Better” social infrastructure bill that is being debated in Congress. For tax year 2018, the … [Read more...]

REDUCED, NOT ELIMINATED Social Security trustees announced on 8/31/21 that unless financial changes are implemented, the payment of Social Security benefits would drop to 76% of their originally promised levels beginning in 2033 through the year 2095. (Source: Social Security Trustees 2021 Report) DEBT CEILING On Thursday 10/14/21, President Biden signed a debt ceiling bill that adds $480 billion to our existing debt ceiling, bring the limit up to $28.9 trillion. Current projections have … [Read more...]

YOUR NEXT CAR 25% of new auto sales in China in the year 2025 are projected to be electric vehicles. China is the world’s largest auto market. (Source: Bloomberg NEF) SAME FOR YOU? The total household net worth in America is up +47% in the last 4 years and is up +89% in the last 8 years. The total US household net worth was $74.8 trillion as of 6/30/13, was $96.2 trillion as of 6/30/17 and was $141.7 trillion as of 6/30/21. (Source: Federal Reserve) MEDICAID IN YOUR STATE A Supreme … [Read more...]

BONDS The worst year for the taxable bond market in the last 45 years (1976-2020) was a loss of 2.92% (total return) in 1994. The YTD performance (through 9/30/21) of the taxable bond market is a loss of 1.56% (total return). The Bloomberg Barclays US Aggregate Bond Index (created in 1986 with backdated history calculated to 1976), calculated using publicly traded investment grade government bonds, corporate bonds and mortgage-related bonds with at least 1 year until final maturity, was used as … [Read more...]

WE ARE WAY BEHIND The US may have the 3rd largest population of any country in the world, but #1 China and #2 India each have more than 4 times the number of people the US has. (Source: Census.gov) RED INK With just the month of September yet to counted in fiscal year 2021, the government has taken in $3.59 trillion of tax receipts while spending $6.30 trillion, netting to a $2.71 trillion budget deficit. The US has had 23 consecutive months of deficits, its longest deficit stretch since … [Read more...]