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Just for appearance’s sake, you would have thought that one of the homeowners in Martha’s Vineyard would have offered to open his or her house to the migrants shanghaied to the island by Florida governor Rick DeSantis. Instead, the migrants were sent packing to a military base on the mainland.
President Barack Obama, for example, has plenty of room. In 2019, Obama purchased a seven-bedroom, nine-bath, nearly 7,000-square-foot house that sits on 29 bucolic acres alongside Edgartown Pond on the island’s southeastern shore. His two neighbors to his immediate north have eleven beds between them, according to real estate records. The two neighbors to his south have ten beds between them. So by our count, the neighborhood could have housed more than half of the newcomers.
Since this is the Breitbart Business Digest, we’ll point out that the former president’s investment in Martha’s Vineyard real estate has worked out extraordinarily well. The president reportedly paid $11.75 million for the place in 2019. Zillow estimates that it is now worth $18.4 million, nearly a 57 percent gain.
I’ve Seen Fire…
The labor market remains incredibly hot. The Labor Department reported Thursday that initial unemployment claims fell by 5,000 to 213,000 in the week ended September 10. This is the fifth consecutive week of falling claims. The four-week moving average, which smooths out volatility from week to week, declined to the lowest level since June.
This suggests that the Federal Reserve’s efforts to ease labor market tightness have not gained much traction. Employers are clearly holding on to workers despite softening in the retail sector and in manufacturing. These low levels of layoffs point toward another hot jobs number for September. The tightness of the labor market will give workers more leverage to push for higher wages.
