Did You Know?

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* Though just 17% of the U.S. population is 65 or older, United Van Lines reports that seniors in that age group completed 29% of all its moves in 2020. Sumter County, Florida has one of the highest levels of inbound migration of seniors in the U.S. thanks in large part to the Villages, a sprawling retirement community more than 50 miles northwest of Orlando. But large cities are seeing an influx of older people seeking the excitement and variety/volume of entertainment/restaurant options. (WSJ)

* In the 4th quarter of 2021, investors bought 18.4% of the US homes that were purchased, a record high. And possibly one of the biggest drivers of housing inflation? Higher purchase prices + higher rents = essential demand for higher wages. (FT)

* The median monthly payment on a new mortgage is now taking up a much larger share of a typical consumer’s income. It jumped 8.3% in February compared with January. The average rate on the 30-year fixed mortgage shot significantly higher yesterday, rising 24 basis points to 4.95%. The quicker-than-expected rise in rates has weighed on demand for mortgages and refinancing loans. With both rates and prices considerably higher, the median mortgage payment is now more than 20% higher than it was a year ago. And so is pricing in some parts….Now comes the question: are incomes that much higher to sustain this? (CNBC)

* The average bonus paid to securities industry employees in New York climbed 20% to a record $257,500 for 2021, the largest increase in bonuses since 2009. Securities industry jobs make up just 5% of private sector roles, but accounted for 18%, or $14.9 billion, of state tax collections in the 2021 fiscal year. (CNBC)

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Did You Know? Wednesday edition

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* Austin, TX rents rose an eye-watering 40% in February 2022 compared to 2021! Portland followed at 39%. New York City rents rose 36%! Newark and New Brunswick, NJ, and Nassau County, Long Island saw 36% jumps in rents. Florida had 3 of the top 10 metro areas with the steepest rent hikes in February: Rents in Miami, Fort Lauderdale and West Palm Beach jumped 30% in February compared to 2021. Denver was up 29%. (NY POST)

* Andy Warhol’s portrait Shot Sage Blue Marilyn could become the most expensive 20th-century artwork to ever sell at auction, with an estimate in the region of $200 million.

* A hospice nurse shared the 5 common regrets people have in their last days:
1. Most people at the end of their lives have regrets about not appreciating their health.
2. Not appreciating being alive, the little things.
3. Working their life away.
4. Not spending more time with family.
5. Spend time with those you love, not necessarily family, but those you love and make you feel loved. (US SUN)

* The US has agreed to ease the 2018 tariffs on UK steel and aluminum shipments that may help lower some construction costs.

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