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 1st 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 1st Store (Stillwell Liquors) in Coney Islands in 1979
    2nd 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)

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