Happy Friday, friends! It is with slight melancholy, but lots of excitement that I get to publicly announce my retirement from the real estate profession: I will be pursuing my lifelong dream as the Director of Disney Cruiseline Entertainment out of Orlando starting May 1! I was watching old home movies of my dance recitals when I realized I had missed my true calling. So when I mentioned it to a client and she had a connection with the cruise company, I couldn’t pass it up. Scott is joining me as on-ship entertainment with his ventriloquist act, and the kids will be cared for by the provided childcare on the boat. It’s going to be a huge change and we’re so thrilled to be able to tell you all, especially on this day of April 1st [APRIL FOOLS!] 😀!
Nearly every day, Compass’s Leonard Steinberg puts together a handful of real estate news bits that are always so interesting I have to share some of my favorites of the week. To receive these every day from Leonard, please click [_here](mailto:ls@compass.com “”) and include your full name and email address to get on his mailing list.
* New York millionaire taxpayers made up just 1.6% of filers in 2021 but constituted 44.5% of all personal income tax revenues. More than 50% already live outside of state, but pay income taxes on cash earned in New York. Was the whole ‘millionaires fleeing from New York’ narrative a hoax? Could it be that the majority of those who fled simply shacked up at their Hampton’s/Litchfield/Florida/Aspen/Upstate weekend homes? A new report from the nonprofit Fiscal Policy Institute finds that while the city “lost 2,400 millionaires from 2020 to 2022, that was offset (and then some) by the 17,500 millionaires who moved IN during the same time. (NY POST)
* Job openings totaled 8.73 million for the month, a decline of 617,000, or 6.6%, as per the Labor Department, the lowest total since March 2021 and brought the ratio of openings to available workers down to 1.3 to 1. The lag effects of higher rates are beginning to register. (CNBC)
* Jamie Dimon of JP Morgan Chase reminded all that banks have safeguards in place to prevent terrorists and other illegal actors from using their institutions…..in contrast to crypto markets. All CEO’s agreed anti-money-laundering bank rules should apply to digital assets. (Bloomberg)
* Many years ago I was introduced to the Passive House concept by pioneering proponent and architect Michael Ingui of Ingui Architecture: His firm utilizes the benefits and attributes of passive house measures to create healthy, serene, well-designed spaces. I was stunned how a newly renovated 8,000sf townhouse listing I was marketing had an electric bill under $100 per month…… yes, another example of high design and high-performance building!
* McDonald’s plans to open 9,000 new restaurants! McDonald’s currently has around 40,000 locations, each on approximately 1.2 acres. McDonald’s owns about 70% of the buildings and 45% of the land at its locations worldwide! (Will Ozempic Dispensaries be opening up next door? )
* In October, the US Government selected 31 Tech Hubs across the country, designating them for federal grants to “supercharge” industries including autonomous systems, biotech and quantum computing. Chosen from more than 400 applicants, the winners will split a $500 million federal funding pot, part of the 2022 CHIPS and Science Act, which was aimed at bolstering domestic research and industry.