Neil Freiman
๐ค SpeakerAppearances Over Time
Podcast Appearances
For my first number, if you're having trouble affording life, try the Midwest.
The region home to Culver's and Caitlin Clark is the value play of the United States, the Bank of America Institute says, featuring lower than average home prices and strong wage growth.
The Midwest has the lowest median sales price for existing homes of anywhere in the country,
at 319,000 versus 409,000 nationwide, writes the Wall Street Journal.
Rents in major Midwestern cities are also lower than the national median, while incomes have been increasing at a faster clip than in other regions.
For an example of the Midwest's allure, and I don't think anyone has ever said that in their life, look at the six counties in Wisconsin from Oshkosh to Green Bay.
There, one homeowner in seven spends above 30 percent of their income on shelter costs compared to one in five nationwide.
Meanwhile, people are bringing home more money than the national average thanks to a strong manufacturing presence, which accounts for more than twice the share of jobs than it does across the country.
Living in the Midwest means even though you don't have access to the ocean, you do have access to the nicer things in life.
With higher incomes and lower housing costs, people in the Midwest are spending more on discretionary items than Americans living elsewhere, as shown by Bank of America card data.
Toby, did I just sell you on the Midwest?
I'm all in on the Midwest if it wasn't clear.
All right, for my next number, one of the biggest, fastest-growing industries in the United States is youth sports.
According to an Aspen Institute survey, family spending on youth sports jumped 46% between 2019 and 2024 to hit $40 billion a year.
Now, to put that into context, that's more than the revenues of the NFL and NBA combined.
and about four and a half times domestic box office sales last year.
Families spent an average of over $1,000 annually on one child's primary sport, though another analysis has found that the average youth club activity requires $3,000 to $5,000 a year.
For some leagues, you need to pay up to $50 just for the opportunity to try out.
Competing and traveling for increasingly bougie leagues are putting financial strain on parents who think their kid is the next Cooper flag.
Many have turned to crowdfunding sites to help them pay for baseball tournaments.