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Economic Update | Month Ending June 30, 2024

Inflation shows signs of cooling – This month several reports suggested that inflation was cooling after picking up earlier in the year. Key inflation data released this month included: The Consumer Price Index (CPI) showed that consumer prices increased 3.3% year-over-year in May, down from a 3.4% year-over-year increase in April. On a month-over-month basis, consumer prices held flat for the first time since July 2022. Core CPI, which excludes food and energy, increased 3.4% year-over-year, its smallest annual increase since April 2021. CPI peaked in June of 2022 at 9.1%, worked its way down to 3% in June 2023, but worked its way back up to 3.5% year-over-year in March 2024. It has remained stubborn, but the year-over-year increase has moderated for three straight months. The Producer Price Index (PPI), a gauge of prices that producers get for their goods and services in the open market, showed that wholesale prices declined 0.2% month-over-month in May, following April’s surprise 0.5% increase. Year-over-year the PPI increased 2.2%. The core PPI increased 2.3% year-over-year. Economists had expected a 2.5% increase, so this was also good news. The Personal Consumption Expenditure Index (PCE), the Fed’s preferred gage of inflation, was released on June 28. It showed that the 12-month inflation rate was 2.6%. The Core PCE, which strips out volatile food and energy prices, also showed a 2.6% year-over-year increase. The Fed is looking to get this index down to their 2% target rate and it is finally beginning to look like they are making significant progress. Experts feel that they will begin to cut their key interest rates from their 25-year high levels later in the year.

The graph below shows the trend of the CPI rate since 2021.

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Stock Markets – The Dow Jones Industrial Average closed the month at 39,118.86, up 1.1% from 38,686.32, on May 31, 2024. It is up 3.8% year-to-date. The S&P 500 closed the month at 5,460.48, up 3.5% from 5,277.51 last month. It is up 14.5% year-to-date. The NASDAQ closed the month at 17,732.60, up 6% from 16,735.02 last month. It is up 18.1% year-to-date.

U.S. Treasury bond yields – The 10-year treasury bond closed the month yielding 4.36%, down from 4.51% last month. The 30-year treasury bond yield ended the month at 4.51%, down from 4.64% last month. We watch bond yields because mortgage rates often follow treasury bond yields.

Mortgage rates – Every Thursday Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Surveyreported that mortgage rates for the most popular loan products as of June 27, 2024, were as follows: The 30-year fixed mortgage rate was 6.86%, down from 7.03% at the end of May. The 15-year fixed was 6.16%, down from 6.36% last month.

The graph below shows the trajectory of mortgage rates over the past year.

Image

Freddie Mac was chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing. Their mandate is to provide liquidity, stability, and affordability to the U.S.

Home sales data is released on the third week of the month for the previous month by the National Association of Realtors and the California Association of Realtors. These are May’s home sales figures.

U.S. existing-home sales – The National Association of Realtors reported that existing-home sales totaled 4.11 million units on a seasonally adjusted annualized rate in May, down 2.8% from an annualized rate of 4.23 million last May. The median price for a home in the U.S. in May was $419,300, up 5.8% from $396,500 one year ago. There was a 3.8-month supply of homes for sale in May, up from a 3.1-month supply one year ago. First-time buyers accounted for 32% of all sales. Investors and second-home purchasesaccounted for 16% of all sales. All-cash purchases accounted for 28% of all sales. Foreclosures and short sales accounted for 2% of all sales.

Year-over-year California home prices jumped 8.7% in May – The California Association of Realtors reported that existing-home sales totaled 277,410 on an annualized rate in May, down 6% from a revised 298,860 homes sold on an annualized basis last May. There was a 2.6-month supply of homes for sale, up from a 2.1-month supply one year ago. The statewide median price paid for a home in April was $908,040, up 8.7% from a revised median price of $835,280 one year ago.

The graph below shows sales data by county in Southern California.

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Economic Update | Week Ending June 29, 2024

Stock markets – The Dow Jones Industrial Average closed the week at 39,118.36, down 0.1% from 39,150.33 last week. It is up 3.8% year-to-date. The S&P 500 closed the week at 5,460.48, unchanged from 5,464.62 last week. The S&P is up 14.5% year-to-date. The Nasdaq closed the week at 17,732.60, up 0.2% from 17,689.36 last week. It is up 18.1% year-to-date.

U.S. Treasury bond yields – The 10-year treasury bond closed the week yielding 4.36%, up from 4.25% last week. The 30-year treasury bond yield ended the week at 4.51% up from 4.39% last week. We watch bond yields because mortgage rates follow bond yields.

Economic Update for the Month Ending
June 30, 2024

Inflation shows signs of cooling – This month several reports suggested that inflation was cooling after picking up earlier in the year. Key inflation data released this month included: The Consumer Price Index (CPI) showed that consumer prices increased 3.3% year-over-year in May, down from a 3.4% year-over-year increase in April. On a month-over-month basis, consumer prices held flat for the first time since July 2022. Core CPI, which excludes food and energy, increased 3.4% year-over-year, its smallest annual increase since April 2021. CPI peaked in June of 2022 at 9.1%, worked its way down to 3% in June 2023, but worked its way back up to 3.5% year-over-year in March 2024. It has remained stubborn, but the year-over-year increase has moderated for three straight months. The Producer Price Index (PPI), a gauge of prices that producers get for their goods and services in the open market, showed that wholesale prices declined 0.2% month-over-month in May, following April’s surprise 0.5% increase. Year-over-year the PPI increased 2.2%. The core PPI increased 2.3% year-over-year. Economists had expected a 2.5% increase, so this was also good news. The Personal Consumption Expenditure Index (PCE), the Fed’s preferred gage of inflation, was released on June 28. It showed that the 12-month inflation rate was 2.6%. The Core PCE, which strips out volatile food and energy prices, also showed a 2.6% year-over-year increase. The Fed is looking to get this index down to their 2% target rate and it is finally beginning to look like they are making significant progress. Experts feel that they will begin to cut their key interest rates from their 25-year high levels later in the year.

The graph below shows the trend of the CPI rate since 2021.

Image

Stock Markets – The Dow Jones Industrial Average closed the month at 39,118.86, up 1.1% from 38,686.32, on May 31, 2024. It is up 3.8% year-to-date. The S&P 500 closed the month at 5,460.48, up 3.5% from 5,277.51 last month. It is up 14.5% year-to-date. The NASDAQ closed the month at 17,732.60, up 6% from 16,735.02 last month. It is up 18.1% year-to-date.

U.S. Treasury bond yields – The 10-year treasury bond closed the month yielding 4.36%, down from 4.51% last month. The 30-year treasury bond yield ended the month at 4.51%, down from 4.64% last month. We watch bond yields because mortgage rates often follow treasury bond yields.

Mortgage rates – Every Thursday Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Surveyreported that mortgage rates for the most popular loan products as of June 27, 2024, were as follows: The 30-year fixed mortgage rate was 6.86%, down from 7.03% at the end of May. The 15-year fixed was 6.16%, down from 6.36% last month.

The graph below shows the trajectory of mortgage rates over the past year.

Image

Freddie Mac was chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing. Their mandate is to provide liquidity, stability, and affordability to the U.S.

Home sales data is released on the third week of the month for the previous month by the National Association of Realtors and the California Association of Realtors. These are May’s home sales figures.

U.S. existing-home sales – The National Association of Realtors reported that existing-home sales totaled 4.11 million units on a seasonally adjusted annualized rate in May, down 2.8% from an annualized rate of 4.23 million last May. The median price for a home in the U.S. in May was $419,300, up 5.8% from $396,500 one year ago. There was a 3.8-month supply of homes for sale in May, up from a 3.1-month supply one year ago. First-time buyers accounted for 32% of all sales. Investors and second-home purchasesaccounted for 16% of all sales. All-cash purchases accounted for 28% of all sales. Foreclosures and short sales accounted for 2% of all sales.

Year-over-year California home prices jumped 8.7% in May – The California Association of Realtors reported that existing-home sales totaled 277,410 on an annualized rate in May, down 6% from a revised 298,860 homes sold on an annualized basis last May. There was a 2.6-month supply of homes for sale, up from a 2.1-month supply one year ago. The statewide median price paid for a home in April was $908,040, up 8.7% from a revised median price of $835,280 one year ago.

The graph below shows sales data by county in Southern California.

Image

Have a great weekend!

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Mortgage Rate Update | June 27, 2024

Mortgage rates – Every Thursday Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of June 27, 2024, were as follows: The 30-year fixed mortgage rate was 6.86%, down from 6.87% last week. The 15-year fixed was 6.16%, up from 6.13% last week.

The graph below shows the trajectory of mortgage rates over the past year.

Freddie Mac was chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing. Their mandate is to provide liquidity, stability, and affordability to the U.S.

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From Rivian to Mattel and More! | Tech News

Stay up-to-date with the latest in tech! We’ve got you covered with this week’s top headlines, featuring news from Rivian, Mattel, and more. Read on to discover what’s new!

Uber Launches “One Less Car” Trial

Feeling bogged down by traffic? Uber has a solution for you. The ridehailing company announced the “One Less Car” trial, inviting 175 participants in the US and Canada to ditch their cars for five weeks in exchange for cash and travel credits. The aim is to highlight the high costs of personal car ownership and its impact on our health and cities. Participants will receive $1,000 in Uber Cash and vouchers for various transportation modes, and a free one-month Uber One membership. This trial will take place from July 22nd to August 25th in cities like Los Angeles, Chicago, and Toronto.

Rivian’s Busy Year: New Vehicles and a Major Partnership

Distracted by Rivian’s $5 billion deal with Volkswagen to develop software and electric vehicles, many overlooked the company’s upcoming investor day event on June 27th. Rivian surprised shareholders with shroud-covered mystery vehicles, evoking comparisons to Tesla’s tactics. 2024 has already been eventful for Rivian, with the introduction of the affordable R2, the unexpected R3 and R3X, and the launch of second-generation R1T and R1S vehicles. Now, Rivian teases five new vehicles, hinting at a bold strategy to stay relevant amid rising costs and cooling EV demand.

YouTube Seeks to Clone More Musicians with AI

After introducing a generative AI feature last year that creates music in the style of artists like Charli XCX and John Legend, YouTube is now negotiating with major record labels to clone more musicians. The Google-owned platform is offering lump sums to Universal Music Group, Sony Music Entertainment, and Warner Records for licensing their songs to legally train its AI music tools. While not expanding its Dream Track feature, YouTube aims to license music from dozens of artists to develop new AI tools launching later this year. This move comes amid ongoing legal battles and industry concerns over unauthorized AI use of music content.

Google Translate Adds 110 New Languages

Google announced on Thursday that it is adding support for 110 new languages to Google Translate. This change significantly expands the service from its previous 133 languages. This major update, facilitated by Google’s PaLM 2 AI language model, excelled at learning related languages, such as those close to Hindi and various French Creoles. Among the newly supported languages is Cantonese, a highly requested addition due to its complex overlap with Mandarin in writing. Approximately a quarter of the new languages come from Africa, and most are spoken by at least one million people.

Mattel Enhances Game Accessibility for Colorblind Players

Mattel announced that 80% of its gaming portfolio will be accessible to those with color vision deficiency by the end of the year. Uno cards will feature symbols to distinguish colors, while Blokus tiles will have unique 3D patterns. Games like Tumblin’ Monkeys and KerPlunk will also include 3D details for color differentiation. This initiative extends to mobile app versions of their card games, adding colorblind identification symbols. 

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Weekend Events | June 28 – June 30

As the month of June comes to a close, celebrate with a bang, as we round up the weekend’s top events! From the Pawlympics to Roots Picnic and more, there is something for everyone to enjoy. Check out what’s happening in your neighborhood from June 28 through June 30. 

Los Angeles Weekend Events | June 28 – June 30 

KCRW Summer Nights

When: Until September 21

Where: Exposition Park

What: Everyone’s favorite NPR member station, KCRW, is hosting a series of summer concerts at various public plazas and beloved museums. This summer’s schedule is packed with familiar KCRW DJs and local buzz bands providing free, open-air music on select nights through September. Venues include Union Station, CAAM, Descanso Gardens, Bowers Museum, Century Park, the Autry, KCRW’s Santa Monica headquarters, and the lively party-till-midnight bashes at Chinatown Central Plaza. Enjoy a diverse lineup of live music in beautiful settings across the city.

Roots Picnic: Hip-Hop is the Love of My Life

When: June 29 

Where: Hollywood Bowl

What: The Roots are headlining a hip-hop festival at the Hollywood Bowl, featuring performances by Queen Latifah, Common, Digable Planets, Arrested Development, The Pharcyde, and Black Sheep.

Pawlympics

When: June 30 

Where: Various Venues | Hollywood

What: Join the fun at this dog-friendly Olympics featuring pup-friendly races, a nosework maze, a snooze fest, and barkdancing. Held at the L.A. Coliseum, the event also includes photography and caricature sessions, along with around 20 pet health and food vendors.

 

Westside & Beach Communities Weekend Events | June 28 – June 30 

Katz’s at Bar Next Door

When: June 29

Where: Bar Next Door | West Hollywood

What: Angelenos can soon enjoy one of New York’s most iconic dishes when Katz’s Delicatessen opens a pop-up in L.A. for one day only this Saturday, June 29, from 11am to 6pm. Hosted by Postmates and Bar Next Door at 9159 Sunset Boulevard, the event will offer a limited number of Katz’s famous pastrami sandwiches on rye with house-made mustard and pickles. Available for pickup, delivery, or walk-up, the sandwiches are priced at $25 for a half and $45 for a full, with limited-edition branded merch also available.

Off the 405

When: June 1 – August 24

Where: The Getty

What: Hilltop sunset views and emerging bands make this Getty tradition a must-visit for Angelenos from both sides of the 405. This year’s lineup of free Saturday night shows includes Hailu Mergia (June 1), Slauson Malone 1 (June 15), Helado Negro (July 20), Julia Holter (July 27), and Woods (August 24). Tip: To avoid traffic and crowds, arrive early, preferably after 3pm when the parking fee drops to $15 (or $10 if you wait until the show starts). This way, you can explore the exhibits, which remain open until 8pm on Saturdays, and avoid the dinner rush.

Santa Monica Pier 360 Beach Festival

When: June 29 – June 30 

Where: Skirball Cultural Center

What: The worlds of surfing, music, dance, food, and skating will converge at this two-day festival celebrating ocean sports and beach vibes. The Santa Monica Pier deck will host live Polynesian bands and hula dancers, while an all-day music lineup will provide the soundtrack for an obstacle course, roller rink, and beer garden.

San Fernando Valley Weekend Events | June 28 – June 30 

The Comedy of Errors – Unrehearsed!

When: June 29 

Where: Sherry Theater | North Hollywood

What: Prepare for a night of hilarity at the Sherry Theater as two sets of twins separated at birth navigate mistaken identities, fights, arrests, and reunions. Antipholus of Syracuse searches for his long-lost brother, also named Antipholus, in this Shakespearean classic. Talented actors will perform without any rehearsal, guaranteeing a night full of surprises and laughs. This unique and unforgettable experience is not to be missed!

Essential Comedy at The Good Nite

When: June 30 

Where: 10721 Burbank Blvd | North Hollywood

What: Catch a comedy show featuring top comedians from NETFLIX, NBC, HBO, and COMEDY CENTRAL at The Good Nite in North Hollywood. The event takes place on Sunday, June 30th, at 7 PM. Don’t miss this night of laughter and entertainment!

Pride Month Ecology Walk and Mixer

When: June 29 

Where: Theodore Payne Foundation | 10459 Tuxford Street

What: Closeout Pride Month by exploring California’s native plants and ecosystems. Participants will enjoy an easy hike through the TPF grounds, learning about the diverse and unique ways nature expresses itself. The event will conclude with a gathering to celebrate nature and the LGBTQIA+ community, complete with complimentary refreshments and light snacks. (21+ only)

 

Conejo Valley Weekend Events | June 28 – June 30 

Boogie Nights Summer Run Series 

When: Until July 24 

Where: 901 San Pedro St | Ventura

What: The Boogie Nights Summer Run Series returns for a 10-week stretch in 2024, kicking off every Wednesday night from May 22nd through July 24th. The 5K races start and finish at San Buenaventura State Beach in Ventura, beginning at 6:30 pm, with a free kids run at 6 pm. Enjoy chip timing, light snacks post-run, and a flat course along the Ventura Promenade. Registration costs less than $20 per race or $120 for all 10 weeks, including a t-shirt.

Summer Season at Theatricum Botanicum

When: Until October 20

Where: Topanga

What: For over 50 years, this iconic venue has attracted theater enthusiasts to its enchanting open-air stage for captivating productions. Nestled in Topanga Canyon, the 299-seat amphitheater welcomes audiences of all ages with a diverse array of plays, from Shakespearean classics to folktales. This season’s highlights include William Shakespeare’s ‘The Winter’s Tale’ and ‘A Midsummer Night’s Dream’, as well as ‘Wendy’s Peter Pan’, *Tartuffe: Born Again’, and ‘The Hispanic/Latino/Latina/Latinx/Latine Vote’.

X Games Ventura 2024

When: June 28 – June 30 

Where: Ventura 

What: The wheel-based sports of the X Games are deeply connected to Southern California, with skateboarding and BMX competitions calling L.A. home for much of the 2000s. After a decade-long hiatus, the X Games returned to the area in 2023. In 2024, they will come to Ventura again, featuring even more sports and music.

 

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Top Juice Bars Around Town | L.A. Eats

When it comes to staying healthy and fit, there is one thing L.A. is known for besides Equinox and its…juice bars. From Kreation to SunLife Organics, we have no shortage of fresh pressed juice open to help you feel rejuvenated and ready to take on the day. Whether you are doing a cleanse or looking to add to your routine, there are many options around town. read on for our list of Juice Bar favorites!

Best Juice Bars in Southern California

Most are tucked in strategic corners while others hug the coast, making them a favorite spot if you are looking for a healthy drink as you swim or relax. But which are the best juice bars? Here are the top spots to check out.

Grabbagreen+Juice

This exquisite place in Thousand Oaks, CA, is a quick service stopover to drink your way to health. A quick look at their menu gives you various options, from their unique Grabba Cleanse, freshly pressed juice to smoothies. Likewise, there is always something for everyone. In addition, you can try Fab & Fruity, Pina Protein, and Power PB &J, among others.

Beverly Hills Juice Club

If you are looking for a healthy shot, Beverly Hills Juice Club is the right place. Located in Mid-Wilshire and spread across Los Angeles (LA), this juice bar has been operating since 1975. Most of their produce is sourced from farmer’s markets. You will be treated to raw, pressed, unpasteurized juice. Try juices like the Banana Manna, Berry Coconut, Hot Tomato Tonic, ginger, and vegetable cocktails.

Body Energy Club

This juice bar is located in West Hollywood and specializes in healthy, delicious smoothies and bowls. Established in 2002, the family-owned and operated juice bar offers walk-ins, free parking, vegan-friendly, healthy dining, and grab-and-go services. You can choose from classic smoothies such as the banana berry blast, berry delicious, or the signature smoothies like the cherry ripe, chocoberry acai, and others.

Juice Budz

As you check out the best available properties in Sherman Oaks, a quick stop at the Juice Budz will refresh you with splashes of color through their variety of raw, cold-pressed fruits and vegetable drinks. Likewise, this is not one of those ordinary juice bars in town but a unique blend of refreshment and detoxification benefits through their juice kits. 

SunLife Organics

The list of top juice bars is never complete without the magnificent SunLife Organics. With their unique signature juices in Calabasas, West Hollywood, and other locations, you can always drink up that sunshine in a cup, as they state. Try the Malibu Sunrise, loaded with natural fruits, including strawberries, carrots, oranges, and more.

Kreation Juicery

A typical business day in Beverly Hills and Downtown LA must always wind up at Kreation Juicery. It is the go-to place for a juicer-friendly, gluten-free snack and your favorite smoothie. Try a dreamy mixture of raspberries, bananas, ginger, apple, and lemon, and satisfy every healthful drink craving in you.

With these top juice bars spanning all over Southern California, you can never run out of options.

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Kid-Friendly Activities and Attractions | Out & About

Los Angeles is not just a city for adults; it’s a playground for kids too! LA offers an abundance of kid-friendly activities and attractions that are sure to create lasting memories for both children and adults. In this blog, we’ll delve into the exciting world of kid-friendly fun in Los Angeles, uncovering a variety of activities and destinations that cater to the interests and imaginations of the youngest members of your family.

The Wizarding World of Harry Potter at Universal Studios:

Step into the magical world of Harry Potter at Universal Studios Hollywood. Explore iconic locations such as Hogwarts Castle and Diagon Alley, experience thrilling rides like Harry Potter and the Forbidden Journey, and sample Butterbeer at the Three Broomsticks. With its attention to detail and immersive experiences, this enchanting attraction will delight Potterheads of all ages.

Griffith Observatory:

Ignite your child’s curiosity about the universe at the Griffith Observatory. Explore interactive exhibits, observe celestial objects through telescopes, and attend fascinating planetarium shows. Kids can learn about space, astronomy, and the wonders of our universe while enjoying breathtaking views of the city. Don’t forget to take a hike in Griffith Park’s trails for some outdoor adventure.

Kidspace Children’s Museum:

Engage your little ones in hands-on learning and play at the Kidspace Children’s Museum. This interactive museum in Pasadena offers a range of exhibits and activities designed to spark creativity, curiosity, and exploration. Kids can climb, build, splash, and engage in imaginative play while discovering the wonders of science, nature, and art.

Natural History Museum of Los Angeles County:

Embark on a prehistoric adventure at the Natural History Museum of Los Angeles County. Encounter dinosaur fossils, explore the Nature Gardens, and marvel at the diverse exhibits that showcase the natural wonders of our planet. The museum also offers special programs and interactive displays tailored for children, making it a perfect educational and entertaining destination for the whole family.

Griffith Park and the Los Angeles Zoo:

Spend a day in Griffith Park, one of the largest urban parks in North America, and make a stop at the Los Angeles Zoo. Discover a wide variety of animals from around the world, engage in animal feedings and presentations, and explore the zoo’s extensive grounds. With picnic areas, playgrounds, and hiking trails, Griffith Park offers plenty of opportunities for outdoor fun and family bonding.

The California Science Center:

Fuel your child’s passion for science at the California Science Center, located in Exposition Park. Featuring interactive exhibits and immersive displays, this museum offers a hands-on exploration of scientific concepts. The Discovery Rooms and special demonstrations provide engaging activities that will captivate young minds.

Santa Monica Pier:

Head to the Santa Monica Pier for a classic day of family fun. Enjoy thrilling rides at Pacific Park, indulge in sweet treats, play carnival games, and take a ride on the iconic Ferris wheel. Santa Monica Pier offers a perfect blend of excitement and relaxation for the whole family.

 

Los Angeles is a city that knows how to entertain families, providing a wide range of kid-friendly activities and attractions. LA offers endless opportunities for family fun. So, gather your loved ones and embark on new adventures via the kid-friendly landscape of Los Angeles.

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Guide to Ultimate Summer Entertaining | Home Tips

Summer is the perfect season for hosting gatherings and creating memorable moments with friends and family. Whether you’re planning a casual barbecue or an elegant garden party, these summer entertaining tips will help you organize an unforgettable event at home. Here’s how to excel in menu planning, setting up an outdoor bar, and creating fun, summer-themed activities for your guests.

Menu Planning

A well-thought-out menu is the cornerstone of any successful summer gathering. Here are some tips to ensure your food offerings are a hit:

  • Seasonal Ingredients: Take advantage of the fresh produce available during the summer months. Incorporate seasonal fruits and vegetables like tomatoes, corn, berries, and peaches into your dishes.
  • Grilled Favorites: Nothing says summer like a barbecue. Offer a variety of grilled options such as burgers, hot dogs, chicken skewers, and vegetable kebabs. Don’t forget the sides – classic potato salad, coleslaw, and grilled corn on the cob are always crowd-pleasers.

  • Light and Refreshing: Keep the menu light and refreshing to complement the warm weather. Include dishes like salads, ceviche, and chilled soups. Consider a make-your-own salad bar where guests can customize their plates.
  • Desserts: End the meal on a sweet note with summer-themed desserts. Think fruit tarts, ice cream sundaes, and popsicles. For a fun twist, set up a DIY ice cream sandwich station with various cookies and ice cream flavors.
  • Dietary Needs: Be mindful of guests’ dietary restrictions and preferences. Offer vegetarian, vegan, and gluten-free options to ensure everyone can enjoy the feast.

Setting Up an Outdoor Bar

An outdoor bar is a fantastic addition to any summer gathering, providing a focal point for guests to socialize and enjoy refreshing beverages. Here’s how to set it up:

  • Location and Setup: Choose a shaded area for your bar to keep beverages cool and guests comfortable. A portable bar cart or a table dressed with a festive tablecloth works well. Decorate with summer-themed items like string lights, tropical flowers, and colorful straws.
  • Signature Cocktails: Create a few signature cocktails that highlight summer flavors. Mojitos, margaritas, and sangria are popular choices. Don’t forget to offer non-alcoholic options like mocktails, lemonade, and iced tea.

  • Self-Serve Station: Make your bar self-serve to allow guests to help themselves. Provide a variety of spirits, mixers, fresh fruit garnishes, and plenty of ice. Include a drink recipe card for guests to mix their own cocktails.
  • Hydration Station: Keep guests hydrated by setting up a hydration station with infused water. Use large dispensers filled with water and slices of citrus fruits, cucumbers, or berries.

Fun, Summer-Themed Activities

To keep the energy high and ensure everyone has a great time, plan some fun activities that embrace the summer spirit:

  • Outdoor Games: Set up classic lawn games like cornhole, bocce ball, and croquet. These games are easy to play and can be enjoyed by guests of all ages.
  • Pool Party: If you have a pool, a pool party is always a hit. Provide plenty of floaties, pool noodles, and water games. For added fun, organize a pool volleyball match or a cannonball contest.

  • DIY Craft Station: Set up a DIY craft station for entertaining, where guests can create summer-themed crafts like tie-dye shirts, flower crowns, or painted rocks. This is a great activity for kids and adults alike.
  • Outdoor Movie Night: End the evening with an outdoor movie screening. Set up a projector and a large screen (or a white sheet), provide blankets and lawn chairs, and offer popcorn and movie snacks.

By following these summer entertaining tips, you can create a warm and welcoming atmosphere for your guests, ensuring they leave with wonderful memories of your gathering. Happy hosting!

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Economic Update | Week Ending June 22, 2024

Stock markets – The Dow Jones Industrial Average closed the week at 39,150.33, up down 1.5% from 38,586.16 last week. It is up 3.9% year-to-date. The S&P 500 closed the week at 5,464.62, up 0.6% from 5,431.16 last week. The S&P is up 14.6% year-to-date. The Nasdaq closed the week at 17,689.36 unchanged from 17,688.88 last week. It is up 17.8% year-to-date.

U.S. Treasury bond yields – The 10-year treasury bond closed the week yielding 4.25%, up from 4.20% last week. The 30-year treasury bond yield ended the week at 4.39% up slightly from 4.34% last week. We watch bond yields because mortgage rates follow bond yields.

Mortgage rates – Every Thursday Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of June 20, 2024, were as follows: The 30-year fixed mortgage rate was 6.87%, down from 6.95% last week. The 15-year fixed was 6.13%, down from 6.17% last week.

The graph below shows the trajectory of mortgage rates over the past year.

Freddie Mac was chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing. Their mandate is to provide liquidity, stability, and affordability to the U.S.

Home sales data is released on the third week of the month for the previous month by the National Association of Realtors and the California Association of Realtors. These are May’s home sales figures.

U.S. existing-home sales – The National Association of Realtors reported that existing-home sales totaled 4.11 million units on a seasonally adjusted annualized rate in May, down 2.8% from an annualized rate of 4.23 million last May. The median price for a home in the U.S. in May was $419,300, up 5.8% from $396,500 one year ago. There was a 3.8-month supply of homes for sale in May, up from a 3.1-month supply one year ago. First-time buyers accounted for 32% of all sales. Investors and second-home purchases accounted for 16% of all sales. All-cash purchases accounted for 28% of all sales. Foreclosures and short sales accounted for 2% of all sales.

Year-over-year California home prices jumped 8.7% in May – The California Association of Realtors reported that existing-home sales totaled 277,410 on an annualized rate in May, down 6% from a revised 298,860 homes sold on an annualized basis last May. There was a 2.6-month supply of homes for sale, up from a 2.1-month supply one year ago. The statewide median price paid for a home in April was $908,040, up 8.7% from a revised median price of $835,280 one year ago.

The graph below shows sales data by county in Southern California.

Have a great weekend!
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