Millennials have poured over $500 billion into the housing market over the past year...but what caused this boom? Ed Groshans, Senior Financial Services Analyst at Height Securities joins Your Future Home to discuss where the trend is going and what benefits it's creating along the way.
Groshans says the new tax plan and decreasing unemployment numbers are putting more money into the pockets of young adults. Plus, because millennials are getting married and having kids later in life they are more financially savvy and have saved for a mortgage, home repairs, etc.
He also talks about getting into the housing market while the interest rates are down. He predicts we'll see an upswing in rates over the next few years so it would be smart to get in now.
Cheddar News breaks down what to look for on The Day Ahead, as TikTok CEO is scheduled to testify before Congress on Thursday while earnings from General Mills and Darden Restaurants are on tap. Residential sales data for February is also scheduled to be released.
Virgin Orbit is reportedly in talks for a $200 million rescue plan and the company said in a regulatory filing that it plans to resume operations on Thursday.
Jack Daniels was at the U.S. Supreme Court today. The whiskey-makers argued that a dog toy company violated federal trademark law with a product that parodies the distiller's iconic bottle. The toy is the Bad Spaniels Silly Squeaker toy by VIP products. The first amendment case pits the rights of a famous trademark holder against parody products. Jack Daniel says the toy damages its reputation, especially the references to dog poop.
Alcohol brand White Claw is moving into spirits amid an industrywide shift away from hard seltzers. The spiked seltzer brand announced a new line of regular and flavored White Claw premium vodkas. The bottles are available in select markets across North America and come in an unflavored option as well as pineapple mango and black cherry white Claw has dominated the Heart Seltzer market for years. Now bringing the category into the mainstream as more consumers sought those low calorie alcohol drinks.
Stocks are holding relatively steady Wednesday as Wall Street bides its time until the Federal Reserve’s announcement in the afternoon about whether it will tighten the screws further on the economy.
