March comes in like a Lion …
Welcome to Volatility with a capital ‘ V ‘. As March opened, the US Stock market took its sharpest plunge in our lifetime and then within 24 hrs took its steepest rise… only to bounce around like a loose basketball for the remainder of the tumultuous week.
The World’s reaction to the Coronavirus was slow at first and has reached fever pitch in New York City, where I spent the first few days of March. New Yorkers will not shake your hand or get close enough to touch, if at all possible. Their fear is palpable --- and quite different from what we’re seeing here in Los Angeles. Is it warranted?
61,000 Americans perish each year from the Flu.
Why haven’t these measures been considered before, to maintain our health in schools and places of business? How will we fare locally as this progresses? Time will tell.
How is Wealth around the World being spread?
Our international partner, London's Knight Frank, has published their
annual Wealth Report -
the real estate industry’s leading publication on world statistics. Top Takeaways this year include good news (we need some!).
Click Here To View.
There were 31,000 Ultra High Net Worth individuals created around the World in 2019 ,
a 6% increase Year over Year.
The global UHNWI population is forecast to rise by 27% over the
next 5 years
to over 650,000 people. 21% of UHNWIs are planning to purchase a home in 2020.
Paris
leads all cities in potential prime property price growth in 2020 at 7+%. 2020 growth forecast
for LA is 2%,
NYC 3% and Miami 5%.
… and (
hopefully
) goes out like a Lamb.
-Ernie
