Friday Fast Five - 8/18/2023
by Hodges Investment Team, on August 18, 2023
Five interesting things that Hodges Capital research analysts discovered this week...
#1 INLAND EMPIRE: According to a recent Wall Street Journal Article, the warehouse vacancy rate in the “Inland Empire,” an area with over a billion square feet of warehouses covering 40 square miles, topped 3.8% in the second quarter. With data from real-estate services firm Savills, this is the first time in two decades that more warehouse space is becoming available than leased within the area servicing the nation’s largest container ports.
#2 MILLIONAIRES: According to a research project by Ramsey Solutions, teachers rank third, behind engineers and accountants, on a top-five list of careers most likely to have millionaires within their ranks. Business professionals and lawyers ranked fourth and fifth.
#3 CAR PRICES: With a starting price of $17,340, including shipping, the Mirage was the only vehicle in the U.S. that transacted under $20,000 in July, according to Cox Automotive. What’s more, Edmunds reports that just 17% of new vehicles are now selling for under $30,000, compared to 44% five years ago.
#4 MECHANIC SHORTAGE: The Wall Street Journal reported that the average auto repair took more than 17 days to complete last year, up 65% from just over 10 days in 2019.
#5 SPORT VALUATIONS: The Dallas Cowboys, at $9.2B, topped a recent Sportico list of most valuable sports franchises in the world. The Cowboys also became the second franchise after FC Barcelona to top $1B in revenue for a single season.
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