Back to School

August 19, 2024


Enjoy this week's "Investor Insights," a weekly newsletter that highlights the financial news you need and provides tips and tricks for making better investment decisions. 
 
  • U.S. households are expected to spend 1.7% less on back-to-school shopping in 2024, with spending dropping to $875 from just over $890 in 2023. Despite this slight decline, back-to-school spending has risen nearly 81% since 2004. 1


  • Homes valued at $1 million or more now make up 8.5% of all U.S. homes, a record high. This more than doubles the 4% before the pandemic. The increase reflects the surge in home prices nationwide, with the median home sale price reaching a record $442,525 in June. 2


  • A 65-year-old retiring this year is expected to spend an average of $165K on healthcare and medical expenses throughout retirement. This amount, which excludes over-the-counter medications and long-term care, has more than doubled since 2002. 3


  • Since the end of the 2008 financial crisis, the U.S. has built about 17 million homes. This is 20% fewer than in the 14 years prior, despite a 9% growth in the U.S. population since 2009. This underdevelopment has left the country short by about five million homes. 4

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Sources:

  1. MFS - "Beyond the News"
  2. WSJ - "The Share of Million-Dollar Homes in America Just Hit an All-Time High"
  3. Fidelity - "Fidelity Investments® Releases 2024 Retiree Health Care Cost Estimate as Americans Seek Clarity Around Medicare Selection"
  4. Barrons - "Why D.R. Horton Is the Home Builder Stock to Buy Now"

*Past performance is not indicative of future performance



Disclosure: This information is furnished for the use of Glen Eagle Advisors, LLC, Glen Eagle Wealth, LLC, and their clients and/or contacts. It does not constitute the provision of investment advice to any person. It is not prepared with respect to the specific objectives, financial situation, or particular needs of any specific person. Investors reading this commentary should consult with their Glen Eagle representative/financial advisor regarding the appropriateness of investing in any securities or adapting any investment strategies discussed or recommended in this newsletter.

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