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First 200 Words The doctor told me I think we might succeed, we might not. And even if we succeed, you might have to be in a wheelchair, so do you want us to do away with you or keep you alive? I said, ‘Try to keep [me] alive,’” he chuckles. “In two hours, the bastard fixed it. So the doctors today are very important. The problem is the pills can be a great help but also be a great problem. It’s like I talk to the council, and I say rule might have been right when you wrote it, but things change.

The doctor told me I think we might succeed, we might not. And even if we succeed, you might have to be in a wheelchair, so do you want us to do away with you or keep you alive? I said, ‘Try to keep [me] alive,’” he chuckles. “In two hours, the bastard fixed it. So the doctors today are very important. The problem is the pills can be a great help but also be a great problem. It’s like I talk to the council, and I say rule might have been right when you wrote it, but things change Next should be Position 1 MREC.

Second 200 Words The doctor told me I think we might succeed, we might not. And even if we succeed, you might have to be in a wheelchair, so do you want us to do away with you or keep you alive? I said, ‘Try to keep [me] alive,’” he chuckles. “In two hours, the bastard fixed it. So the doctors today are very important. The problem is the pills can be a great help but also be a great problem. It’s like I talk to the council, and I say rule might have been right when you wrote it, but things change.

The doctor told me I think we might succeed, we might not. And even if we succeed, you might have to be in a wheelchair, so do you want us to do away with you or keep you alive? I said, ‘Try to keep [me] alive,’” he chuckles. “In two hours, the bastard fixed it. So the doctors today are very important. The problem is the pills can be a great help but also be a great problem. It’s like I talk to the council, and I say rule might have been right when you wrote it, but things change Next should be Position 2 MREC.

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100 Words Told me I think we might succeed, we might not. And even if we succeed, you might have to be in a wheelchair, so do you want us to do away with you or keep you alive? I said, ‘Try to keep [me] alive,’” he chuckles. “In two hours, the bastard fixed it. So the doctors today are very important. The problem is the pills can be a great help but also be a great problem. It’s like I talk to the council, and I say rule might have been right when you wrote it, but things change.’

200 Words The doctor told me I think we might succeed, we might not. And even if we succeed, you might have to be in a wheelchair, so do you want us to do away with you or keep you alive? I said, ‘Try to keep [me] alive,’” he chuckles. “In two hours, the bastard fixed it. So the doctors today are very important. The problem is the pills can be a great help but also be a great problem. It’s like I talk to the council, and I say rule might have been right when you wrote it, but things change.’

“The doctor told me I think we might succeed, we might not. And even if we succeed, you might have to be in a wheelchair, so do you want us to do away with you or keep you alive? I said, ‘Try to keep [me] alive,’” he chuckles. “In two hours, the bastard fixed it. So the doctors today are very important. The problem is the pills can be a great help but also be a great problem. It’s like I talk to the council, and I say rule might have been right when you wrote it, but things change.’

200 Words The doctor told me I think we might succeed, we might not. And even if we succeed, you might have to be in a wheelchair, so do you want us to do away with you or keep you alive? I said, ‘Try to keep [me] alive,’” he chuckles. “In two hours, the bastard fixed it. So the doctors today are very important. The problem is the pills can be a great help but also be a great problem. It’s like I talk to the council, and I say rule might have been right when you wrote it, but things change.’

“The doctor told me I think we might succeed, we might not. And even if we succeed, you might have to be in a wheelchair, so do you want us to do away with you or keep you alive? I said, ‘Try to keep [me] alive,’” he chuckles. “In two hours, the bastard fixed it. So the doctors today are very important. The problem is the pills can be a great help but also be a great problem. It’s like I talk to the council, and I say rule might have been right when you wrote it, but things change.’

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100 Words Told me I think we might succeed, we might not. And even if we succeed, you might have to be in a wheelchair, so do you want us to do away with you or keep you alive? I said, ‘Try to keep [me] alive,’” he chuckles. “In two hours, the bastard fixed it. So the doctors today are very important. The problem is the pills can be a great help but also be a great problem. It’s like I talk to the council, and I say rule might have been right when you wrote it, but things change.’

200 Words The doctor told me I think we might succeed, we might not. And even if we succeed, you might have to be in a wheelchair, so do you want us to do away with you or keep you alive? I said, ‘Try to keep [me] alive,’” he chuckles. “In two hours, the bastard fixed it. So the doctors today are very important. The problem is the pills can be a great help but also be a great problem. It’s like I talk to the council, and I say rule might have been right when you wrote it, but things change.’

“The doctor told me I think we might succeed, we might not. And even if we succeed, you might have to be in a wheelchair, so do you want us to do away with you or keep you alive? I said, ‘Try to keep [me] alive,’” he chuckles. “In two hours, the bastard fixed it. So the doctors today are very important. The problem is the pills can be a great help but also be a great problem. It’s like I talk to the council, and I say rule might have been right when you wrote it, but things change.’

200 Words The doctor told me I think we might succeed, we might not. And even if we succeed, you might have to be in a wheelchair, so do you want us to do away with you or keep you alive? I said, ‘Try to keep [me] alive,’” he chuckles. “In two hours, the bastard fixed it. So the doctors today are very important. The problem is the pills can be a great help but also be a great problem. It’s like I talk to the council, and I say rule might have been right when you wrote it, but things change.’

“The doctor told me I think we might succeed, we might not. And even if we succeed, you might have to be in a wheelchair, so do you want us to do away with you or keep you alive? I said, ‘Try to keep [me] alive,’” he chuckles. “In two hours, the bastard fixed it. So the doctors today are very important. The problem is the pills can be a great help but also be a great problem. It’s like I talk to the council, and I say rule might have been right when you wrote it, but things change.’

200 Words The doctor told me I think we might succeed, we might not. And even if we succeed, you might have to be in a wheelchair, so do you want us to do away with you or keep you alive? I said, ‘Try to keep [me] alive,’” he chuckles. “In two hours, the bastard fixed it. So the doctors today are very important. The problem is the pills can be a great help but also be a great problem. It’s like I talk to the council, and I say rule might have been right when you wrote it, but things change.’

“The doctor told me I think we might succeed, we might not. And even if we succeed, you might have to be in a wheelchair, so do you want us to do away with you or keep you alive? I said, ‘Try to keep [me] alive,’” he chuckles. “In two hours, the bastard fixed it. So the doctors today are very important. The problem is the pills can be a great help but also be a great problem. It’s like I talk to the council, and I say rule might have been right when you wrote it, but things change.’

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4.45am starts: CEO Michael Saadie on family, business and leading NAB Private Wealth

Investing

Michael Saadie learned from an early age the value of hard work and the mantra to “never touch anything twice”.  
NAB Private Wealth and CEO of JBWere Michael Saadie.
CEO of JBWere Michael Saadie. Image: Supplied

He recalls spending time working on sites with his father, who constantly reiterated the message around one-touch processes. “You don’t want to move bricks twice,” he would say.  

Now the freshly minted head of NAB Private Wealth and CEO of JBWere, Saadie is adopting a similar approach to enhance the firm’s wealth management services –across wealth advisors, private bankers, investment specialists and the nabtrade platform – to bring the best possible wealth outcomes to clients.  

Often, those clients are business owners themselves and know all too well the value of efficiency and hard work. They have had their heads down, building their businesses. Typically, Saadie says a significant event – like an exit, listing, fast growth, retirement, or sudden need/desire to consider succession plans – will see them reaching out to determine their next steps on wealth management.  

For successful business owners and entrepreneurs, such questions about “what next?” can occur at any age and stage, but Saadie expects to see more such conversations happening over the coming years – a trend that NAB Private Wealth is ready to support in the most streamlined way possible.  

“Business ownership is the leading pathway to significant wealth creation in Australia,” Saadie says. “And we’re set to see a lot more.  

“There is a huge demographic shift coming, with a large percentage of major shareholders of private businesses being over 70. And that means there’s set to be even more business owners making big decisions about wealth transition. 

“We want to start having conversations with these business owners now, to best support with this shift. What are your intentions? Is it philanthropy? Is it community? Is it about how can we support the next generation? “What do you want from wealth?”  

Importantly, Saadie says they also want to provide services via a single point of contact, to avoid already time-poor business owners having to navigate their way through different teams. 

Meanwhile, the wealth being created by Australian business owners is set to also benefit the community. 

Saadie says NAB Private Wealth is seeing more questions about philanthropy options and impact investment strategies. NAB Private Wealth already manages more than $10 billion for over 600 for-purpose clients and boasts a first of its kind in Australia Responsible Investing Framework, with 97% of funds on its High Conviction List having either a positive or neutral Environmental, Social, and Governance (ESG)/Responsible Investment (RI) rating. In 2022, it also formed a powerful relationship with BlackRock, becoming its sole partner in Australia on its new ESG focused Exchange Traded Funds (ETFs).  

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These types of offerings, alongside Australia’s burgeoning entrepreneurial and business market, saw NAB Private Wealth experiencing double digit growth in FY22 for deposits and lending. This year also saw a 7% increase in trading accounts, with 38,000 new clients welcomed to the platform.  

So how did Saadie come to helm the bank leading on managing the wealth of Australia’s most successful individuals and families?  

Family is hugely significant in his own success and path to this role – as noted by the work ethic his father instilled in him.  Another pillar is his vast banking experience, particularly leading across business banking, and managing risk during one of NAB’s most challenging periods.  

One of nine siblings (the second last born), Saadie brings a unique perspective on family into leadership and relationship management.  

He says there’s a lot he learned about leadership from his parents – including from his father who worked in construction, and his mother who ran the household. They were married for 73 years, and perhaps reflective of such a long union, passed away within three weeks of each other just before Christmas last year.   

Saadie experienced a socially charged, noisy and energetic childhood, but also a family with high expectations for all their children. So much so that Saadie recalls wanting to drop out of studying architecture drafting but needing a “good excuse” to do so. By chance, he attended a careers day during his studies, where he was offered a job at ANZ that would allow him to switch disciplines and study part time. 

“I’m not sure I would have survived dinner if I came home that day and just told them I was dropping out,” he says. “But the truth is, I didn’t have a design bone in my body.”  

Officially commencing his term as head of Nab private Wealth and CEO JBWere on January 16 and based in Melbourne where he lives with his wife Joanna and three children Hannah, Will & Tom. Saadie says he’s already spending a lot of time personally working with business owners and families.  

He’s clear on his ambitions to transform the world of private banking in Australia, and his arrival at NAB Private Wealth coincides with the business already boasting good numbers. Revenue was up over 10% in FY22  

In the original service model, the business already had a unique differentiator through JBWere – one of Australia’s oldest and most respected wealth advisers.  

“You have got to really love what you’re doing with work, but also make time and space for family.”

Michael Saadie

“In 2022, we took it a step further adding our business banking experts to our service. NAB Private Wealth’s proposition is without comparison in Australia – we’ve brought together Australia’s largest business lender and Australia’s the best private bank” says Saadie. 

Saadie personally brings significant knowledge on business to the job, having run NAB’s business banking metro team at NAB prior to this appointment, in a bank that has 26 per cent share of business owners already banking with them.  

Over the next 12 months, Saadie says the plan will be to further optimise the experience for clients, enable more efficiencies and create the most seamless experience possible.  

He’s optimistic about the future for Australian businesses, especially given the efficiencies that have been gained in the past few years as businesses responded to the pandemic. High employment levels also see him staying positive on the outlook ahead.  

As for his own work life, Saadie is up at 4:45am most mornings shared with his wife to take their daughter to swimming training, and get in his own exercise, before getting to the office. While he aims to reserve the weekends for family time, he says he shares a similar love for his work to what he encounters from his clients.  

“You have got to really love what you’re doing with work, but also make time and space for family,” he says. 

NAB Private Wealth will present the inaugural Forbes Australia Women’s Summit on March 22, 2023. Book now to secure your spot.

Forbes Australia issue 3 is out now. You can pick up your copy at all good newsagents or become a member here.

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Which one day hopes to take passengers into space – exploded after launch and before the rocket made it into space on Thursday.

Elon Musk’s SpaceX Starship—which plans to one day take passengers to the moon and Mars—attempted to launch into space Thursday but experienced “a rapid unscheduled disassembly,” exploding before the rocket could make it to space, just days after its first highly anticipated launch was scrapped due to a pressurisation problem.

Key Facts
  • SpaceX’s Starship took off at just after 9:35 a.m. Thursday from Starbase in Boca Chica, Texas, but minutes later it exploded, before it could separate from the Super Heavy rocket and go to space.
  • The next test launch will happen “in a few months,” Musk told his Twitter followers.
  • SpaceX said the team will review what happened for the rocket’s next flight test, adding that success from Thursday’s test “comes from what we learn, and today’s test will help us improve Starship’s reliability.”
  • Starship was scheduled to go about 150 miles above Earth’s surface in a 90-minute long mission.
  • The size and scope of the rocket is unsurpassed with its 31 raptor engine, the largest number of simultaneous rocket engine ignitions ever, and its height of nearly 500 feet, which led the SpaceX team to construct the world’s tallest rocket launch and catch tower to support the rocket.
Elon Musk at SpaceX’s Starbase facility near Boca Chica Village in South Texas on February 10, 2022 | Source: Getty Images
Key background

Minutes before the rocket was supposed to launch on Monday, Musk and SpaceX announced the launch was canceled. They then needed 48 hours before they could attempt a launch again. Musk first announced his plans for a Starship launch in March, pending Federal Aviation Administration approval. On Friday, when that approval was granted, SpaceX tweeted it would attempt a launch Monday.


Forbes Australia Issue no.4 is out now. Tap here to secure your copy and membership.

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Cars & Bikes

I’ve reviewed a number of interesting and innovative ebikes from Aventon over the last several years, but until now, one key model type has been missing from their lineup: a cargo bike. At long last, the California-based company has rectified that situation with the new $2,199 Abound cargo bike.

Cargo bikes are becoming more popular in the ebike (and regular bike) markets for obvious – and not so -obvious – reasons. Obvious: They can haul a lot of stuff, including kiddos, cargo and sometimes pets, often all at the same time, and with a motor added on, their range and flexibility is greatly extended. Not so obvious: If you can do all those things with a bicycle, your very-expensive-to-operate automobile will sit much more than it already does, meaning your fuel bill, maintenance needs and possibly per-mile insurance costs will go down as well.

Aventon-Abound-Cargo-ebike

The rear wheel of the Aventon Abound is closed off to keep little feet out and rain splashes in.

Aventon

At essentially $2200 before options (such as panniers, larger cargo racks, passenger seats and even trailers), it’s a chunk of change to invest up front, but if it lowers just your car expenses by $50 a month or more, the math on recouping that investment is fairly straightforward. And judging by the number of cargo bikes I see on Portland streets (and elsewhere in my travels), a LOT of people are doing that math. When I was in Manhattan last year, electrified cargo bikes were everywhere, loaded up and breezing through crawling car traffic.

Aventon-Abound-Cargo-ebikes

If you could ride there, would you leave the car at home? That’s a big part of the appeal of a cargo bike.

Aventon

But back to the new Abound. The new bike is what I call a “long tail” cargo bike, so your cargo is mostly behind you while riding, as opposed to cargo bikes that use a front bucket of sorts like this Supercargo model from Yuba. That means the Abound rides more like a “normal” bicycle than the front-box designs that use a linkage for steering. That’s not to say front-box bikes are a bad choice; it’s just not the form factor Aventon chose. Honestly, the more “normal” design of the Aventon is probably more approachable for those new to cargo bikes than the front box design, but it also a bit more limiting on how much you can carry. It’s good to have options.

Aventon-Abound-Cargo-ebike-main2

Front suspension allows for a bit smoother ride but the Abound is not a mountain bike.

Aventon

The 81-pound, 75-inch long Abound uses 20-inch wheels front and rear with a 750-Watt geared rear hub motor out back supplemented by a 7-speed Shimano Altus derailleur and twist grip-shifter. Hydraulic disc brakes provide stopping power front and rear, and there’s a suspension fork up front with preload adjustment and lockout. A thumb-throttle allows manual control of the motor while Eco, Tour, Sport, and Turbo pedal assist modes are themselves assisted by a torque sensor that detects how much pedal power the rider is adding in and modulates the assist power for both maximum assistance when needed and more efficient use of the large removable in-frame lithium-ion 48-Volt 15Ah (720Wh) battery’s power reserve. Aventon says the battery gives the Abound 50 miles of assist range; that’s likely a best-case scenario in Eco mode with a light load. Stacking up a maximum of 440 pounds of cargo (including the rider) and pointing it up some hills in Turbo mode will result in… less range under power. The Abound is a Class II ebike with a top assist speed of 20 mph.

Aventon did their homework before introducing the Abound, and it has several nice features as stock, including metal fenders, rear wheel valances for keeping small feet and other things out of the wheel, a fold-down handlebar for easier storage and transport of the bike, hydraulic dropper-type seat, and a large rear rack ready for a large number of accessories including seats, panniers, cargo racks and more. A central small soft-sided storage bag is included for things like bike locks, gloves, snacks and so forth.

Aventon-Abound-Cargo-ebike-turnsignals

Rear LED brake and marker light includes turn signals for mixing with traffic.

Aventon

Aventon also continues to be a leader in bicycle visibility, and the Abound features tires with reflective striping, a bright LED headlight mounted above the front fender, plus a bright rear tail and brake light with integrated yellow LED turn signals activated by two buttons on the controller pod on the left handlebar, a feature it shares with the new Aventure.2. A color LCD display shows signal activation, speed, assist mode (Eco, Tour, Sport, Turbo, and Off), battery level, and some motivational environmental statistics (trees saved, CO2 reduced).

Aventon-Abound-Cargo-ebike

Step-through design and a tall handlebar make it easy to ride, and a throttle helps with takeoff, hills and tired legs.

Aventon

That’s a well-rounded setup out of the box, and Aventon did send me an Abound just ahead of their launch date, but the shipment and any riding time was delayed until now by a historic snowstorm that buried Portland under nearly a foot of powder, making it easier to get around on skis than ebikes. Look for an in-depth review of the Abound here in the coming weeks.

Meanwhile, the Abound has no shortage of competition in the electric cargo bike space, including from Rad Power Bikes and their new Rad Rover 3, along with the recently introduced XPedition from Lectric and others joining the field. It’s good to see more choices appear, and we’ll be testing the Abound to see if it’s viable to keep the car parked more and while tending to local transport and errand needs with a cargo bike.

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New apartments in downtown Phoenix Arizona USA
On a year-over-year basis, rents are up modestly in Phoenix at 1%. getty

Asking rents climbed by $6, or 0.3%, from January to February. That is the first monthly increase in rents in five months, since they last rose in September 2022, according to a recent survey. The 0.3% increase is only somewhat smaller than the typical February increase of 0.4%, averaged over data from 2016 to 2020, suggesting that the rental market remains somewhat cooler than normal.

Typical asking rents at the national level now stand at $1,976, which is 6.3% higher than one year ago, but 0.5% below the peak of $1,987 observed in September 2022. That annual growth rate is now down more than 10 percentage points from the peak growth rate observed one year ago this month: 17.0%, the record-high pace reached in February 2022.

Monthly changes: Winter comes to Florida

The steepest monthly declines in rent were observed this February in Cleveland (-1.0%), Jacksonville (-0.4%), Salt Lake City (-0.4%), Richmond (-0.3%), and Miami (-0.3%). That bucks the recent trend of mostly Western cities, plus New Orleans, having the largest rent drops earlier this winter. The substantial declines observed in two of Florida’s major metropolitan areas suggests some cooling may finally be arriving after years of very rapid rent growth.

Rents rose the most on a monthly basis in Hartford (1.3%), Sacramento (0.9%), Chicago (0.8%), New Orleans (0.6%) and Raleigh (0.6%). Many of these markets represent more affordable alternatives to competing cities, which may explain their recently climbing rents.

Western markets: Stepping off the roller coaster

Rents are very close to where they were last February in several inland West markets. On a year-over-year basis, rents are down 1.0% in Las Vegas, and only up modestly in Phoenix (1.0%), New Orleans (1.8%), Sacramento (2.5%), and Baltimore (2.9%). Annual rent growth didn’t fall much further in these markets from its pace in January.

The Western markets may be going through a lull after breakneck rent growth in 2021, when they saw a great deal of migration from expensive West Coast markets, followed by some mean reversion in rent growth in 2022. The cumulative effect, though, is that rents still stand much higher than pre-pandemic: 3-year growth in Phoenix, for instance, is still a staggering 37%.

Annual rent growth was highest in Cincinnati (9.4%), Indianapolis (9.1%), Louisville (8.9%), Kansas City (8.2%), and Boston (8.1%), reflecting the continued strength of demand in affordable, mid-sized Midwestern metropolitan areas, as well as a belated rebound for Boston. Miami’s absence from the top 5 MSAs for year-over-year rent growth is also notable, after growing the fastest earlier in the pandemic.

The most expensive major market is San Jose, where typical monthly rent is $3,189, followed by San Francisco ($3,084), New York ($3,084), San Diego ($2,959), and Boston ($2,958).

The beginning of a return to normal?

Not only did monthly rent growth in February break its 4-month streak in the red; it also climbed much closer to average pre-pandemic growth rates for that time of year. In each of the last 3 months, the monthly growth rate was 25 to 30 basis points lower than the pre-pandemic average: -0.41% in November (vs -0.11%); -0.26% in December (vs -0.01%); and -0.06% in January (vs 0.21%). But this February, growth was only 13 basis points below the 0.43% averaged at this time of year in the five years of data from 2016 to 2020.

If monthly rent growth for the rest of the year simply matches its pre-pandemic average growth rate in each month, the annual pace of growth would continue to decelerate, from February’s 6.3% to a low of 3.0% in September. A normal year of rent growth would be a major relief for renters after last year’s blistering pace of rent hikes. Year-over-year rent growth has already dropped precipitously, from a record-high of 17.0% in February of 2022.

The deceleration of annual asking rent growth in February only heightens the contrast with official inflation measures of rent growth, like the Consumer Price Index’s Rent of Primary Residence component, which grew 8.6% in January (the most recent month available at this time). Previous research suggests a 12-month lag between annual ZORI (Zillow Observed Rent Index) growth and annual CPI Rent growth, giving cause for hope that the year-over-year growth in the latter could begin to decelerate sometime soon.

One small data point consistent with such a slowdown was that the compounded annual growth rate of January’s monthly change in CPI Rent, 8.8%, was already down measurably from its pandemic-era peak of 11.1% in September of 2022. Given that monthly CPI Rent growth accelerated sharply last May and June, those months might be the most likely time this year to see a peak and turning point in year-over-year CPI Rent growth.

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Cars & Bikes

Predicting a given new vehicle’s eventual resale value down the road is a crapshoot in the best of times, but given the state of the used car market in recent years it’s become a far riskier bet.

That’s because the conventional wisdom that a car drops in value the moment it’s driven off a dealer’s lot and steadily continues to lose its worth literally to the moment it reaches the auto graveyard, has been, well, unconventional of late. Pandemic-related market forces and other factors combined to drive up pre-owned model prices up by a whopping 45% from June 2020 to June 2021. They rose to the point that some late model used cars in the greatest demand commanded nearly as much last year—in some cases more—than harder-to-find brand new versions.

Kelley Blue Book predicts the midsize Toyota Tundra pickup truck will hold onto 73.3% of its original value after five years.

Kelley Blue Book predicts the midsize Toyota Tundra pickup truck will hold onto 73.3% of its original value after five years.

Toyota

While used vehicles prices have been following a downward trend since July, data culled from wholesale auctions hint that retail prices may yet again be on the rise, which makes the science of predicting a given model’s eventual trade-in value even more confounding.

Astute new-vehicle shoppers know that depreciation, or how much of a car or truck’s original value is lost over time, is an owner’s largest long-term expense. Having a higher resale value means having a larger down payment to help lower monthly payments on one’s next vehicle. It’s an especially important consideration for those shopping among costlier models, simply because there’s more money at stake to lose.

According to Kelley Blue Book, the average new vehicle will retain only about 45% of its original value after a typical five-year ownership period. That means a car priced at $45,000 today will only be worth around $20,250 after five years on the road, which represents $24,750 lost to depreciation. But still, some models can be expected to hold onto their original worth than others, and it pays to seek them out. Choosing a $45,000 car or truck that’s instead expected to return 60% of its original transaction price will bring an extra $6,750 at trade-in time.

Determining what a given model will be worth half a decade into the future depends on a variety of variables. These include supply and demand issues, and a how deep the discounts or generous the automakers’ incentives it takes to sell a given vehicle line. Regional preferences also affect a given model’s long-term value – four or all-wheel-drive models are in greater demand in snowy parts of the country, for example.

Despite the mixed messages coming from the marketplace, the valuation experts at Kelley Blue Book have again managed to compile their 21st annual Best Resale Value Awards. KBB predicts that Toyota vehicles will best preserve their original values among mainstream brands for 2023, while the same holds true in the luxury end of the market for the company’s Lexus division.

Overall, the models determined to hold onto their values the most tenaciously among all 2023 vehicles after five years handily beat the industry average. These include the Toyota Tundra (73.3%) and Tacoma (66.0%), Tesla Model X (66.0%), Ford Bronco (65.4%), and the Chevrolet Corvette (65.3%).

In addition, KBB cites models in 28 separate categories, including for the first time five separate categories for electric vehicles, in which Tesla and Ford led the pack with two awards each.

Here are the makes and models in each vehicle class that are expected to bring the highest rate of return after five years, and the estimated percentages of value retained:

  • Compact Car: Honda Civic (62.5%)
  • Midsize Car: Honda Accord (56.7%)
  • Luxury Compact Car: Genesis G70 (48.0%)
  • Luxury Midsize Car: Acura TLX (48.5%)
  • Luxury Full-Size Car: Lexus LS (44.0%)
  • Sports Car: Chevrolet Corvette (65.3%)
  • Hybrid Vehicle: Toyota RAV4 Prime (56.0%)
  • Electric Car: Chevrolet Bolt EV (41.6%)
  • Luxury Electric Car: Tesla Model S (57.0%)
  • Subcompact SUV: Subaru Crosstrek (61.0%)
  • Compact SUV: Subaru Forester (60.6%)
  • Midsize SUV – 2-Row: Subaru Outback (57.8%)
  • Midsize SUV – 3-Row: Hyundai Palisade (59.7%)
  • Full-Size SUV: GMC Yukon (49.3%)
  • Luxury Subcompact SUV: Volvo XC40 (49.0%)
  • Luxury Compact SUV: Acura RDX (45.3%)
  • Luxury Midsize SUV – 2-Row: Porsche Cayenne (46.5%)
  • Luxury Midsize SUV – 3-Row: Lincoln Aviator (46.5%)
  • Luxury Full-Size SUV: Lexus LX (50.0%)
  • Off-Road SUV: Ford Bronco (65.4%)
  • Electric SUV: Ford Mustang Mach-E (41.4)
  • Luxury Electric SUV: Tesla Model X (66.0%)
  • Compact Pickup Truck: Ford Maverick (61.7%)
  • Midsize Pickup Truck: Toyota Tacoma (65.8%)
  • Full-Size Pickup Truck: Toyota Tundra (73.3%)
  • Full-Size Pickup Truck – Heavy-Duty: Chevrolet Silverado HD (60.1%)
  • Electric Truck: Ford F-150 Lightning (57.0%)
  • Minivan: Toyota Sienna (59.3%)

Click here for the full report via KBB.com.

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