Winningham sent me this photo from 60 years ago (probably because it reflects upon his age). Anyway, I thought it very clever that that the gas station owner showed where the money went for each gallon. Especially good was the ‘Me – 4 cents.’ I wonder how these numbers relate to today’s gas prices and margins, does anybody know? It also reminds me that many/most people think builder profits are waaaaay higher than they really are. In classes I have taught, many people think that one-third to one-half of the sales price is builder profit.

Real estate people like the population to grow. More homes, right?  Well, according to United Nations projections, world population will increase from a current number of 7.3 billion to 11.2 billion in the year 2100. Much of the growth comes from Africa, which will grow an amazing 270% from now until then. North America is growing at a 40% rate, but will only account for about four percent of the world’s population in 2100.