Happy Friday the 13th, friends! This feels like weeks ago already, but Sunday was Mother’s Day and it still feels so special to me, even five days later. We spent the morning snuggling with our babies, went on a walk and ate at our favorite breakfast place in Encinitas, Goodonya. Being a Mom is such a special thing and nothing could have prepared me for how much joy it has brought me over these last two years. It makes me appreciate our moms and all the amazing moms we’re surrounded by every day, even more. A very happy belated Mother’s Day to you and all your moms.
Yesterday Maverick got his passport, but it didn’t come by the easiest means…we are going to Mexico next week for Scott’s brother’s wedding, and due to the timing of when we fly and his birth, applying for a the passport conventionally would not arrive to us in time—even with a rush. We found out that we can go to the passport office, show proof of travel and get it within a a day or so. But when we called earlier this week to make the appointment, the soonest time available was the day before we flew out in EL PASO, TEXAS at 8:10 am CT. We had no other option but to take that time slot, but I insisted there was a better option. I learned that time slots open and get take within a matter of seconds, so I stayed on the phone and found an appointment in San Francisco yesterday—huge relief. I packed the little guy up at 3:30 am and we flew up to the passport office with fingers crossed everything would go smoothly. Well, Maverick handled his first flight like the adorable little champ that he is, everyone could not have been nicer in San Fransisco, and I arrived home late last night, passport in hand. It was an ordeal but well worth it because now we have one less excuse to not to go to Mexico!
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.
* Prices for durable goods—long-lasting items such as consumer electronics—have fallen on a year-over-year basis for 5 straight months, according to the Commerce Department. The average price paid for a new car was about $45,300 in November, down from $47,000 in December of 2022. Avocados are about 17% cheaper than a year ago. Will corporations pass on their lower costs? Already we are seeing market forces compelling retailers to compete. Is this deflation or simply more price re-balancing?
* Watch out for areas building mega-factories as this could fuel economic growth and real estate opportunities. However, those doing so without real solutions for labor – and homes to house that labor – could create big local problems and challenges. Areas with smaller factories could suffer. (WSJ)
* Over 60,000 agents left the real estate brokerage industry in the 6 months leading up to May, according to NAR data analyzed by Reventure Consulting, which provides real-time data on the housing market.
* As a group, the world’s richest families have gotten $1.5 trillion wealthier since the last ranking, and the new tallies from the Middle East weren’t the only noteworthy shifts. Among the biggest gainers was a different kind of royal house: the 6th-generation dynasty behind luxury brand Hermès, who added $56 billion to become the world’s 3rd-richest by eschewing fads and cultivating loyalty. Because-you-can-pricing combined with artificial scarcity pays dividends? Now how can we reduce agent commissions to help the consumer……hmmmmm…..