Boomers, who are currently the empty nest generation, are not leaving their large homes, leading to 28% of all U.S. homes with three or more bedrooms being owned by individuals aged 60 to 78. This age group, comfortably settled in mortgage-free homes, is reluctant to move due to significantly lower interest rates on their current mortgages. This trend has caused a freeze in the housing market, as around 70% of mortgage holders have rates more than 3 percentage points below the market, discouraging them from considering a move. Consequently, the anticipation for housing market relief through downsizing by boomers seems unlikely, with many not planning to move at all according to a Fannie Mae survey.
Episode 302: Neal and Toby talk about the drug shortage that is plaguing America and what it means for the healthcare industry. Then, Tesla announces another round of layoffs while it’s still lagging behind in the EV market. Also, Apple is now playing catch-up as it falls behind its biggest competitor in the smartphone market. Next, Boomers with low mortgage rates and paid-off houses are staying put and have no plans to sell their homes, leaving little available homes for future generations. Meanwhile, ghost kitchens are starting to fade away. Lastly, cats are taking the spotlight in Hollywood.
00:00 - Intro
2:50 - Drug shortage crisis
7:00 - Tesla layoffs
11:00 - Apple shipment slumps
14:00 - Homeowners aren’t budgeting
18:00 - Ghost kitchens fading?
21:30 - Cats in Hollywood
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