In an environment where market sentiments ebb and flow, it's encouraging to see a tangible reduction in recession fears. The consensus probability of a recession has declined significantly in recent months and now stands at 30% for the US, Europe, and UK. This chart illustrates this optimistic shift, showcasing a steady improvement across major economies.
The Importance of Keeping Beneficiary Forms Up-to-Date
Jeffrey Rolison's story is a poignant reminder of the importance of regularly updating beneficiary forms. In 1987, Rolison listed his then-girlfriend Margaret Sjostedt as the sole beneficiary of his retirement account. Despite their breakup in 1989, he never updated the beneficiary form before his death in 2015. This oversight has led to a legal battle between Sjostedt, now Margaret Losinger, and Rolison’s brothers, who believe Rolison did not intend for her to inherit the $1.15 million. The court ultimately ruled in favor of Losinger, emphasizing the authority of beneficiary forms over wills. This case underscores the complexities and potential conflicts that can arise from outdated or forgotten beneficiary designations.
Remote Work Boosts Employment for People with Disabilities
The rise of remote work has significantly benefited people with disabilities, leading to record employment levels over the past three years. As of early 2024, 12.6% of disabled employees were fully remote compared to 10.6% of non-disabled employees. The COVID-19 pandemic highlighted the benefits of job accommodations, resulting in broader acceptance of flexible hours and job-sharing by employers. Despite these advancements, disparities persist, with disabled individuals still twice as likely to be unemployed and often over-represented in lower-paying jobs.
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Canadian Real Estate Market Update
In May, the Canadian real estate market experienced a slight downturn. The national benchmark home price decreased to $714,300, down 0.2% from April and 2.4% year-over-year. Home sales dipped 0.6% month-over-month and 5.9% year-over-year, while new listings increased by 0.5%, resulting in more homes for sale. Despite the current sluggishness, the Canadian Real Estate Association remains optimistic. The recent Bank of Canada rate cut to 4.75% is expected to invigorate the market, potentially making May the last slow month. Increased inventory and further rate cuts may be necessary to restore consumer confidence and boost buyer activity.
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We embrace these positive changes and look forward to the opportunities ahead with renewed confidence and strategic foresight.
