isomorphismes

Over the long haul, almost all corporate capital expenditures are internally financed, through profits and depreciation allowances.…

[Many] say that [the stock market] raises capital for investment. In fact it doesn’t.

Corporations typically sell large blocks of stock when they [IPO]. Afterwards, public firms rarely issue significant amounts of stock, and new flotations are but a blip in the chart of corporate cash flows. Since the early 1980’s, thanks to buyouts and buybacks, more stock was retired than newly floated, transactions that were mostly funded through heavy borrowing.

The continued high rate of unemployment & underemployment, … growing expectations for a rise in interest rates during the next 24 months … growing opinion that tomorrow may not be much better than today.

While U.S. household net worth is now slightly over $70 trillion (the first time it exceeded 2007’s $68 trillion…since the recession…), the net worth of a family headed by someone younger than the age of 35 years decreased from $11,500 in 1984 to $3,600 in 2009, and hasn’t improved substantially since. Apartment demand continues to grow. Today, three out of 10 young adults (ages 25‒34) now live at home….

The average age of first marriage is now 27 for women and 29 for men (up from 23 for women and 26 for men in 1990). The average age for first-time mothers is also increasing as women are staying in the workforce longer. The average age of first-time homebuyers is now 31 years old. Interestingly, the growing demand for for-sale homes has not had a measurable impact on the apartment industry. There should be around 1.2M households formed each year through 2019. The realization age of the permanent or long-term renter is becoming a reality for many.

Calendar year 2013 will be remembered as the year of acceptance that lack of jobs, higher taxes and fewer opportunities are becoming the norm and not an exception. The shift to a renter-based society continues in earnest as apartment renters seek financial opportunities over geographic preferences.

Death frightens me. Actually dying frightens me. After all, we each fade into unconsciousness every night, do we not? Where was “I” between 9 and 5 last night? Nowhere that I can remember, with the exception of my infrequent dreams. Where was “I” for the 13 billion years following the Big Bang? I can’t remember, but assume it will be the same after I depart – going back to where I came from, unknown, unremembered, and unconscious after billions of future eons.