1. Not a good time for renos…
In a quick office survey, we found that 1 in 4 Firetrailers are doing some form of home renovations. They could have picked a better time… Building costs are skyrocketing in all categories from steel products to labour. It’s not a good time to do renos, but it’s a great time to be a bricklayer!
Source: ABS, HIA
2. A shoplifter’s paradise…
It’s a shoplifter’s dream, and a retailer’s nightmare. In 2014, California passed a ballot initiative called Proposition 47, effectively decriminalising theft under $950. Crime and poverty have become a major issue in San Fran for businesses and the community. For example, Walgreens spends 35x more on security in San Fran compared with other regions… To date, they have closed 22 stores in the area and other retailers are following suit… Less stores means less employment opportunities, more homelessness, and more shoplifting…
3. The bears are growling…
Before this week, markets enjoyed two positive weeks in a row after seven-straight weekly declines. You’d think the financial media would be happy. Instead, the number of news articles mentioning the term “Bear Market Rally” have spiked to the highest level in 10 years… The good news: historically, this has been a good indicator that we’ve hit the market bottom! However past performance is no guarantee of future performance…
Source: SentimenTrader, Bloomberg