Chris Shelton, Realtor KWCP

11/02/2024

In 2023, Americans spent $2.7 billion eating 5.1 billion servings of instant noodles, good enough for sixth in the world, and a per capita consumption of an impressive 15.2 servings. The U.S. remains well behind #1 China at 42.2 billion servings but only 30.1 servings/person, Indonesia at 14.5 billion, India at 8.7 billion, Vietnam at 8.1 billion, and is catching up to Japan with 5.8 billion servings.

10/31/2024

US homebuyers have lost ~$33,250 in purchasing power over the last 6 weeks as mortgage rates have spiked.

A homebuyer with a $3,000 monthly budget can now afford a $442,500 home, down from $475,750 on September 17th, the lowest since February 2023.

A homebuyer with a $2,500 payment can afford a house worth $368,750, down from $396,500.

This comes as the average rate on a 30-year mortgage rate has jumped from 6.1% to 7.0%.

The monthly mortgage payment on the $428,000 median-priced home is now $2,895, roughly $200 higher than it was in September.

Housing affordability is somehow still getting worse.

10/24/2024

Since the Fed cut rates by 50bps on 9/18/24, the 10-year Treasury has steadily risen from 3.68% to the current 4.23%. This is because investors think the rate cut is better for stocks than bonds because there is now increasing hope that a soft landing gets replaced with no landing. Add rising inflation fears, massive Treasury debt issuance, a bellicose Fed, and now the possibility of a Republican sweep.

10/23/2024

Increasing personal income tax rates across-the-board by 10% without any income exemptions would raise $221 billion/year in new revenue. With a $100,000/year exemption, this policy would raise $166 billion/year. With a $250,000/year threshold, revenue growth is $90 billion/year, and at Biden/Harris’ $400,000/year threshold, which excludes 95% of all payers, revenues raised are only $71 billion/year. Exempting large portions of the tax base seriously stymies revenue raising, forcing other tax increases.

10/22/2024

If you want to know THE MOST CLEAR EXPLANATION of what is threatening the United States economy. Do your own due diligence, protect yourself. Every time they print more currency… they steal our purchasing power.

https://podcasts.apple.com/us/podcast/financial-sense-r-newshour/id306759846?i=1000673642653nt

Podcast Episode · Financial Sense(R) Newshour · 10/19/2024 · 36m

10/15/2024

See… just like in real life! 😂

10/14/2024

Americans in the southeast die 10-20 years earlier than people in other parts of the country.

Shocking when you see it visualized like this.

10/11/2024

Through the first 11 months of FY24, federal spending rose $392 billion or 7%, while revenues increased by a healthy but smaller 5.5%. Debt service rose by $227 billion and Social Security/Medicare increased by $174 billion. Other categories that bumped up were defense, which increased by $52 billion and veterans’ benefits by $40 billion. Outlays on all remaining programs fell $100 billion. This is why reducing spending is so tough.

10/09/2024

Spirit Halloween, the retailer known for slinging costumes in abandoned strip malls, is trying its luck at staying open for more than three months. Spirit will convert 10 Halloween stores into Christmas stores next month, swapping out Scream for Santa.

10/08/2024

Wow! 254,000 net new September jobs, upward revisions of 72,000 to July and August, a decline in the unemployment rate from 4.2% to 4.1%, no decline in the labor force participation rate, a rise in wages, and much more, a strong report! With nonfarm payrolls currently the most important Fed datapoint, a 50bps cut in the Fed funds rate in early November is off the table. Recession likelihood ticks down.

10/07/2024

A recent survey assessing environmental factors known to affect hair including wind speed, humidity, UV index, and water hardness has found Miami is hair hell with a score of 81.23. Tampa followed, then came San Antonio, Dallas, and Phoenix at 59.85. Scores above 50 mean bad hair days are the norm. By contrast, Seattle had the best score, just 2.62, meaning bad hair days are profoundly rare.

10/04/2024

Far from being a leading or coincident economic indicator, the unemployment rate is a lagging economic indicator. Here’s why. In a downturn, firms first stop posting jobs and then stop hiring. If things worsen, employers will reduce headcount through attrition and then, if possible, furlough workers. Only then will layoffs commence. Thus, by the time the unemployment rate starts significantly rising, as has recently, conditions have already meaningfully deteriorated.