Weekly News (December 28, 2022)
Mortgage Interest Rates Review
Fairway Asset Corp. 12/28/2022
30 yr fx (%)
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7 yr Arm (%)
A year ago
A month ago
Recreational Marijuana sales in New Jersey soaring: 뉴저지 기호용 마리화나 매출 폭등세
- NJ Marijuana regulation committee said the sale for recreational Marijuana for 3rd Qt this year reached to $116.5M, which is about 45% up from the 2nd Qt ($80M). Meanwhile medical Marijuana sales reached to $61M which is 3% up from the 2nd Qt.
- In 5 years, the market will grow to $1.8B, according to Marijuana marketing research company, Brightfield Group.
- There are 30 dispensaries in NJ and 21 stores including Fort Lee, former Staple store, sell recreational Marijuana for adults. The price in Nj is the highest nationwide — $453/ounce, while it is $257/ounce in Massachusetts.
Netflix builds Mega Studio in Monmouth County: 넷플릭스, 만머스카운티에 대형 스튜디오 단지 설립
(Korea Daily 12/23/2022)
- The worldwide Streaming Entertainment and Contents developer, Netflix will build a mega studio complex in Fort Monmouth in Monmouth County, NJ – one of the largest production facilities in the world.
- Fort Monmouth Economic Revitalization Authority announced the company will build the complex – a total of 12 buildings(studios) — on 300 Ac lot. And the total cost is estimated to $848M and the project will create 3500 work force and 1500 permanent employment.
- The value added to NJ’s economy as a direct result of the activity over next 20 years would be between $3.8B and $4.6B, the company estimates.
U.S. Home Sales Fall for 10th Month in Row: 주택 매매, 역대 최장 10개월 연속 감소
- U.S. existing-home sales slid in November for a 10th straight month, extending a record streak of declines as high mortgage rates and home prices pushed many buyers out of the market.
- Sales of previously owned homes declined 7.7% in Nov from the previous month to a seasonably adjusted annual rate of 4.09M, the weakest pace since May 2020, NAR said Wed.
- Recently there are some early indications that demand has ticked up slightly in recent weeks, as mortgage rates have slid from their recent highs.
U.S. Existing home sales & Median price
For Bleak Housing Market, There is Reason to Bet on Recovery: 주택시장의회복에 자신하는 이유
- Most Americans agree that now housing market is down, but it could be a great time to start betting on a housing recovery.
- Heading into 2022, the biggest problem faced by real estate agents was that there weren’t enough inventory to meet demand, while home builders were struggling to increase construction.
- Mortgage rates have started to cool. The job market is still strong and next year’s mild recession won’t get hit hard. The underlying demand for housing from large M gen. is still there à It could look a lot better at the end of 2023 than it does now.
U.S. Population Growth Stays Sluggish: 미국 인구증가 미진한 상태
- America’s population grew 0.4% this year, Census Bureau figures released Thursday show, continuing historically slow growth that added pressure to a tight labor market.
- The U.S. added 1.3 million people in the year that ended July 1 for a total population of 333.3 million. That included 245,000 more births than deaths. The other component, which measures people moving in and out of the country, grew by one million.
- Population growth had been slowing before the pandemic, but had averaged more than two million a year over the last decade. As recently as 2016, the U.S. grew by 2.3 million people.
U.S. Population Shifts, Growth is sluggish
Global Flow of Goods Gets Back To Normal: 전세계 물자 유통 거의 정상으로
- The Covid-19 pandemic might be not be gone, but the global supply-chain crisis it spawned has abated.
- Fedex Corp. and other regional carriers are having an easier time delivering packages this peak season, with additional capacity and steady parcel volume. The U.S. Postal Service, which makes last-miles said its previous new sorting machines have helped expand its packaging process capacity to 60M a day.
- The daily rate to move a shipping container from Asia to the U.S. West coast is hovering around $1,400, down from about $7,500 in July and roughly $15,000 a year ago.
Tesla Stock is Headed for Its Worst Year Ever: 테슬라 주식, 최악의 해로 기록될 듯
- Tesla Inc is on pace for its worst annual stock performance on record as investors bristle at Elon Musk’s Twitter ownership, demand for the car company’s EV declines and the market slumps in a higher interest-rate environment.
- It has lost roughly 70% of its value since the stock hit a record in Nov 2021. Global economy uncertainty is deepening, and consumers have a growing array of other EVs to choose from, prompting concern on Wall Street that Tesla might need to sacrifice its level of profitability to maintain its pace of growth.
- The company delivered around 936,000 vehicles to customers in 2021.
Tesla’s market value