With as many as 3 million people moving to cities each day, experts are focusing on what the city of the future will be. Harriet Agnew reports at the FT: By 2050, it is estimated that 70 per cent of the world’s populations will be in cities. Three million people migrate to cities every week and of the top 10 largest cities in 1950 — a list that included London, Paris and New York — only one of them, Tokyo, is among the top 10 largest cities today. The others have been pushed out by fast-growing cities in Asia and Africa such as Shanghai, Lagos, and Delhi. Already some of the ecological and … [Read more...]
Is Voice Shopping Already Dead?
Amazon has dominated the market for smart speakers with Alexa. The allure of being able to shop via voice may have helped Amazon sell its speakers, but voice shopping isn’t catching on. Bloomberg reports that Amazon has sold about 50 million Alexa devices, but only 2% of people have made a purchase using their voice. And 90% of people who tried to make purchases using Alexa haven’t tried it again. Sans the shopping is Alexa anything more than a better sounding Siri? About 2% of people with devices that use Amazon’s Alexa intelligent assistant, mostly Amazon’s own Echo line of speakers, … [Read more...]
A $35k House that Makes its Own Water, Grows Food, and Is Energy Self-Sufficient.
Bloomberg reports on micro houses that may provide a solution to the global housing shortage. The tiny 22-square-meter (237-square-foot) prototype, on display on United Nations Plaza, is designed for a family of four. It’s self-sustaining, producing drinkable water from the air, energy from the sun and food from a vertical vegetable garden embedded in the exterior walls. And at an expected price of about $35,000, it may provide an affordable answer to a global housing shortage. “In this climate, this home would produce enough food for a family of four for about 260 days” out of a year, … [Read more...]
Remember the BRICs
It wasn’t too long ago that the favored acronym of many investors was BRICs. BRICs refers to Brazil, China, Russia, and India. The BRIC countries were supposed to offer profound promise to investors. They had resources, mostly young populations, and rapid growth. With such rapid growth ahead, the BRICs were a sure thing. Of course, things haven’t turned out as rosy as the bullish consensus believe at the peak of BRICs mania. The chart below shows the performance of the MSCI BRIC index. The BRICs have had a lost decade. The MSCI index peaked in 2007, and remains more than 30% below its high … [Read more...]
Common Social Security Myths Debunked
For a government program, Social Security is complex. There are many rules and just as many misconceptions. Fidelity debunks five common social security myths. We list the myths below. You can read why they are incorrect by following the link below. Myth #1: You must claim your Social Security benefit at age 62 Myth #2: You can claim early, then get a "bump up" once you reach full retirement age Myth #3: Your monthly Social Security benefit could be reduced or denied if your ex-spouse claims Social Security in a certain way Myth #4: Your benefits are only based on wages that you've earned … [Read more...]
Ginnie Mae (GNMA) Bond Yields
What do Ginnie Mae (GNMA) bonds yield? The table below lists the yields on two of the major Ginnie Mae (GNMA) indices as well as the latest SEC yield on some of the top Ginnie Mae (GNMA) dedicated funds. A note of caution when you are looking at yields on Ginnie Mae funds. Like all SEC yields, these yields are based on the last 30-days of income generated by the fund. They are not directly comparable to the yields on the Merrill Lynch and Barclay’s Ginnie Mae (GNMA) indices. Description Symbol Yield as of 6/29/2018 Yield as of 7/31/2018 Merrill Lynch Ginnie Mae … [Read more...]
The Richest Zip Code in America
You can only reach the richest zip-code in America by water taxi or ferry. It is Fisher Island, filled with athletes, models and business people, it sits off the coast near Miami as a beacon of exclusivity. Shelly Hagana and Wei Lu report in TIME that: The 216-acre island has diverse residents, representing over 50 nationalities and professions ranging from professional athletes and supermodels to executives and lawyers. The average income in Fisher Island, ZIP code 33109, was $2.5 million in 2015, according to a Bloomberg analysis of 2015 Internal Revenue Service data. That’s $1 million … [Read more...]
New York to London in 3 Hours
Super sonic jets are making a comeback. Boom Supersonic plans to deliver 2,000 supersonic jets by 2025. The cost of a one-way ticket will be about $2,600, almost the same as a business-class ticket today. Fang Block reports: But today, “supersonic flight is coming back and reshaping the aircraft industry,” Vik Kachoria, chief executive of Spike Aerospace, tells Penta. “The future is tremendously exciting.” Kachoria’s Boston-based company is developing the S-512, an 18-passenger luxury supersonic aircraft that took its second test flight this April. Spike is expected to deliver the S-512, … [Read more...]
The Hamptons: Property Sales Slow in New York’s Playground
Ben Foldy tells readers of the Financial Times that in the Hamptons, an area of Long Island that serves as a vacation community for New York City's ultra-wealthy, property sales have slowed down. He writes: Second-quarter sales fell 12.8 per cent from 2017 levels, according to data prepared for Douglas Elliman by Miller Samuel Real Estate. The median price dropped 5.3 per cent to a $975,000, compared with $1.03m a year earlier. The spring selling season is usually the high point of the year in the Hamptons, so the drop is stoking concerns that the resort areas of Long Island’s south shore … [Read more...]
CEO of World’s Biggest Bank Warns of 5% Treasury Yields
Jamie Dimon, the CEO of JP Morgan recently warned that the prospect of 5% 10-year Treasury yields is a higher probability than most people think. And may it happen. A 5% 10-year Treasury yield would be a welcome development for income investors, savers, and retired investors who have suffered through a decade of ultra-low yields. “I think rates should be 4 percent today,” Dimon said Saturday at the Aspen Institute’s 25th Annual Summer Celebration Gala. “You better be prepared to deal with rates 5 percent or higher - it’s a higher probability than most people think.” The 3 percent level is … [Read more...]
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