Weekly News (May 17, 2017)

1. Senior Housing in Palisades Park NJ faces tough competition to get into 

• Total 9 units( 4 Studios, 5 of 1 Bedroom) → 1,000 application on 1^st day (5/13)
• At 83 Center Place. Rent between $378 ~ $711 depending on income and size of unit
• According to PAHC (Paramus Affordable Housing Corporation), Bergen, Passaic, Hudson, Sussex Co residents will get higher priority
• Income limit: Under $47,276 for single and $54,030 for 2 people
• PAHC: 201-265-2100

2. ‘Linwood Wine & Liquor’ opened in Hudson Lights complex in Fort Lee, NJ

• At 675 Park Ave: 7,200 SF, Korean owned (JangHan Lee)
• Lee opened his 1^st Store (Stillwell Liquors) in Coney Islands in 1979
  2^nd Store (Twin City Liquors) in Jersey City in 1989 →  Moved to Fort Lee (‘Linwood Liquor’ at 102 Linwood Plaza)
• Opens Monday ~ Saturday (10am ~ 10pm), Sunday (12pm ~ 6pm)
• Visit at www.linwoodwineco.com

3. ‘LG Signature’ goes to upper income family 

• Premium brand LG Signature will attack high-end appliance market
• Exhibition (Customer Experience Zone) goes to Sacks Fifth Ave, JC Penny, in Madison Square Garden along with
• Various products: OLED TV ($8,000), Laundry machine, Refrigerator, Humidifier/Air filter, Oven, Dishwasher, etc.
• Manhattan area →  Preference for High-end appliances & Trend Leaders

4. Homebuilders feel more optimistic due to surge of new home sales  

• NA HB / Wells Fargo builder sentiment index → 70 (CMT 68 in April)
• Readings more than 50 →  view as Good rather than Poor
• The index has been above 60 since September

5. Trump’s infrastructure plan will come out soon  

• Transportation secretary says the plan will be released in a few weeks
• The plan will include $200 Billion in tax payer money
• The investment will be used to leverage $1 Trillion in private investment for next 10 year
• He pledged to generate $1 Trillion in infrastructure spending over 10 year

6. Serious Underwater House →  reduced by $1.2 Million 

• Price: 25% lower than mortgage balance: $5.5 Million (9.7% of total mortgage)
• Market price: below $100,000 houses →  1/3 are serious underwater
• Example: Baltimore in MD →  increased by 26,974 (Philadelphia, Cleveland, Saint Louise also increased)