Market Update

Market Update | FEB 23

Jon Granston | February 23, 2024

DID YOU KNOW?

Top Headlines: Delivered by Leonard Steinberg

February 23, 2024

01 More neighborhood news: Starbucks plans to open more than 600 new stores this year, increasing its U.S. footprint by 4%.

(CNBC)

02 "In 2024, we’re at that fifth stage of grief. People are now in acceptance."

03 Existing homes account for more than 90% of all home sales in the US

(BLOOMBERG)

04 Millennial wealth is on track to match that of prior generations, contrary to recent (false) narratives.

(Jeanne Twenge)

05 Homes under 500sf are not taking over anytime soon and are less than 1% of the new homes built in the US, but home dimensions are shrinking in areas to fuel affordability. A 12ft x 14ft primary bedroom can accommodate almost everything a 14ft x 18ft bedroom - a third smaller - does. If construction costs $300 per square foot, that’s $25,000 saved already...

(NYT)