Necessity Breeds Innovation, Freight Increases, Stimulus Plan Released
One exciting outcome of the pandemic is innovation. This story is a classic example of starting a business out of need for income and demand in the market. According to the census bureau this is happeningaround the country at the fastest pace in a decade. Rates – recovered some of their losses from the previous […]
Higher Priced Homes Selling, Builders Confident, Forbearance Update
Homes in the $100,000 to $250,000 range only saw a 4% gain in sales compared to a year ago, while sales of homes costing more than $1 million more than doubled. Lawrence Yun Rates – ticked up marginally this week maintaing the slight upward trend over the last quarter. They remain nearly 1% lower than […]
-$37 Barrels, Rates Improve, Freight Down
The price of oil has fallen dramatically since the pandemic – from $60 a barrel in January to negative $37 per barrel on Monday. Suddenly oil companies and speculators (investors who buy in large quantaties hoping to sell for a higher price) needed to store a massive amount of unsellable, hazardous product. In some cases […]
Capitalists, Shipping Decline, Strong Home Sales
Capitalists – in the past there was a stark division from those who made their money from labor and those who earned money from capital (ownership of equities, real estate, business, etc.). Increasingly the same people are simultaneously high wage earners and capital earners. Rates – improved very slightly this week as the 10 Year […]
Cranberry Diversification, Freight Decline, Loans Performing
Diversification: on Nov. 9th 1959 trace amounts of pesticide were found in cranberries 3 weeks before the big day and it caused nationwide panic. It prompted the release of this catchy tune and the White House served applesauce with their turkey (??). Later congress compensated growers $8.5M for loss of sales but it gutted the […]