1、 Another week another datapoint: people/wealth are leaving BA, 18% of SF residents looking to depart per recent survey the most of any populated metro, median HH income in BA fell 4.6% from 2019 to 2021 to $116k, largest % decline of any big US metros, per US census data, NYC, Houston and Chicago round up the top 4 losers
2、Bloomberg economic model predicted 100% chance of US entering a recession within next 12 months
Fannie Mae said Fed overly loose during pandemic, now overkill in tightening, resulting in mild recession at Q1 2023
3、BOA CEO said their bank data indicating consumer spending still very robust, account balance > early 2020 level and late payment is 40% < pre Covid level
4、. 80% of young and HNW investors are turning to alternative asset investments ie hedge funds, PEs, real assets…per BOA study
5、LA city council voted 12-0 to approve the ending of Eviction Moratorium by Jan 31 2023另外一个南加好消息:SD no fault eviction moratorium has ended
今天州长宣布新冠健康紧急状态会在明年二月底结束,Alameda 县议会一直以这个health emergency 没有结束为挡箭牌,三年了终于媳妇熬成婆,阿拉米达县EM也看见结束的曙光!
6、BOA model predicted a mild recession with unemployment rate climbs to 5.5% in 2023, losing 175k jobs/m starting in early 2023