Morning Download 

Personal finance + economics + markets

Good morning investors! The situation is challenging with the government shutdown no longer a top priority. Most politicians and even some big businesspeople are busy talking about the geopolitical situation yet the market is throwing curve balls at investors.

Fun fact: The lifespan of a banknote varies depending on its denomination. In the United States, for example, a $1 bill typically lasts around 5.8 years, while a $100 bill can last up to 22.9 years. The durability of higher denomination bills is due to them being handled less frequently.

Today we cover:

• The housing market is going to crash next year. 🏡 

• Disney makes major changes. 🐭 

• Live a cash-free life. 💷 

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📊 Economy and News 

A lot has happened in the last twenty four hours and most of these happenings can (and maybe, should) impact your investing decisions:

• The housing market is in a bubble, warns Sheila Bair, who served as a federal regulator when the mid-2000s housing bubble popped, nearly taking down the entire financial system. Increasing rates have pushed people away yet prices are still jumping. The median home price has increased in most big cities: by 23.8% in Los Angeles, 18.2% in San Diego, 15% in Richmond, and 14.6% in Cincinnati. She doesn’t, however, expect a 2008-like situation but we think investors need to be a little cautious because prices are expected to go down soon.
  

  

• Wholesale inflation jumped 0.5% last month, higher than expected, showing inflation is still a challenge. Prices are up 2.2% annually, the largest increase since April. Keep an eye on figures as consumer price data is expected to come tomorrow. If very high, it will increase the chances of another rate hike.

Also check: Adjustable-rate mortgage demand jumped last week.

Global hits:

• In a huge deal, Exxon Mobil is buying Pioneer Natural Resources for nearly $60 billion in all-stock merger.

• LVMH struggles as growth falls.

• Birkenstock is set to debut in New York with $8.6 billion IPO valuation.

📈 Stocks

S&P 500 4,375.95 (+0.43%)
DJIA 33,804.87 (+0.19%)
NASDAQ 13,659.68 (+0.71%)
VIX 16.09 (-5.52%)
* Prices as of Oct 11th, 20:25 PM UTC

Disneyland and Disney World are now more expensive

Planning a trip to Disneyland or Disney World? It’s gonna cost you more due to higher ticket prices. But, don’t worry if you’re invested in Disney as the news is expected to send the stock higher.

The parks’ most basic tickets, date-based day passes, will remain unchanged and vary based on the busyness of the date. Disneyland tickets start as low as $104, whereas Disney World starts at $109. But, everything else, including parking, is getting costlier.

How expensive? Disney World Orlando annual price passes now cost 10% more starting at $1,449. Parking now costs $30, up $5, but hotel guests still enjoy it for free.

Parking in other cities, including California, is now also more expensive.

Disneyland Anaheim daily pass saw a jump of 9% and now sells for $194. The cost of the Magic Key pass and Genie+ add-ons also jumped.

What else? “Park Hopper” tickets will return next year giving users the option to travel between parks at any time of day.

This come at a time when the company is already facing slow attendance. However, the company has plans to invest more into parks and make them more exciting.

Marks generate above 30% of revenue for the company. With this hike, the company is trying to make more money. If it can continue to manage good attendance with this hike, the company will see higher revenues in 2024.

Also check: Klarna enters the AI race with an AI-powered image recognition tool

🔐 Crypto

Bitcoin $26,709 (-2.4%)
Ethereum $1,563 (+0.2%)
Total market cap $1.09 (-1.5%)
* Prices as of Oct 11th, 20:25 PM UTC

Here’s all you need to know about the crypto industry:

• It’s alleged that Hamas used cryptocurrency to plan the Israel attack. If true, governments will want to tighten regulations around cryptocurrencies as countries will scramble to prevent terrorists from using digital currencies to fund terror activities.

• Binance founder Changpeng Zhao’s plan to save the crypto industry with a $1 billion investment has quietly fizzled out with the project receiving less than $30 million in investments from IRI despite big names like Jump Crypto and Animoca onboard.

• Sam Bankman-Fried 's ex-girlfriend testified against him claiming he 'directed' her to commit crimes. She said he set up systems to steal money from customers.

💵 Personal Finance

Should you pay in cash?

Cash is slowly fading out but it will never completely go out of fashion, at least not in growing economies.

According to a 2022 report, 41% of Americans said that none of their purchases in a week are paid for using cash, up significantly from 29% in 2018. More and more people are opting for plastic money and online wallets, yet there’s space for cash as cash transactions offer several benefits.

Here’s why we don’t think going completely cashless is a good idea:

• Cash makes it easier to budget.

• There’s no credit, hence little to no risk of debt.

• Some people argue that cash is safer than online wallets but this is debatable.

• You avoid credit card fees that are usually around 3% per transaction.

Also, a report found that cash can be a great option for people who want to forget a transaction happened. Since there’s no proof, you’re more likely to forget about it, making cash a good option for ‘guilty’ pleasures.

But, we don’t think it is a good thing. It is important to keep an eye on your money, even if you use cash. You must know how much you’re spending and budget according to your income.

Check the video below for some great budgeting tools to get you started:

💰 Be a Better Investor

👩🏽‍⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.