Kids!

On a totally non-market subject, more young adults are living with their parents, and here’s the graph to prove it (courtesy of Hugo Scott-Gall of Goldman Sachs). Top line is US, bottom line is UK. I suspect in places like Italy, the numbers are way higher.

Goldman surveyed their interns about which items were priorities for them to own. A house was easily at the top of the list, but interestingly (at least to me), a car was no more important than an expensive handbag or watch. Maybe that’s a function of an urban-centered (and status-conscious) survey group, but I’d say it’s good news for Uber, not so good news for GM (and its peers). It’s also good news for the housing (and related) industry, but maybe the biggest winners are the long-suffering parents who can finally get their kids out the door. I’m sure their children feel the same way.

• 24 May, 2016

  Housing Has Legs

  Surprisingly strong housing numbers out this morning: new single-family homes rose 16.6% in April to an annual pace of ...

• 1 May, 2015

  Wages

  They're going up. Total salaries and benefits moved up 4.4% in 2014, rising to 53.6% of GDP, still below historic ...

• 23 Oct, 2015

  Patricia

  It's another beautiful day in Santa Monica: blue skies, a few high wisps of stratus clouds. But 1500 miles south of here ...