The Daily Valet. - 11/22/23, Wednesday
✔️ It Wasn't Always Like This
A programming note ... we'll be off tomorrow and Friday to eat and make awkward conversation with family. But we will send regular readers of this newsletter our insider rundown of the best Black Friday deals to help you navigate the best sales.
Wednesday, November 22nd Edition
By Cory Ohlendorf, Valet. Editor
When I count my blessings, I count all of you who support this newsletter by opening it each day.
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Today’s Big Story
The Parade Marches On
how did the Macy's Thanksgiving day parade become such an American tradition?
It's an American spectacle on a very American holiday. Tomorrow morning, the 97th annual Macy's Thanksgiving Day Parade will march through New York City, bringing along bands and balloons, not to mention a hodgepodge group of celebrities, brands and, well, more balloons. This year, the parade starts 30 minutes earlier—airing from 8:30 am to noon in all time zones on NBC—with Grammy- and Oscar-winning musician Jon Batiste kicking off the event. And in an age when so many of us don't even have regular TV, you can catch the parade live streaming on Peacock.The 2.5-mile parade route features Cher as a headlining act—aside from Santa Claus, of course. Did you know the legendary singer released her first Christmas album last month? She'll be joined by 26 floats (including four new ones) and 49 balloons (including a new version of Snoopy, who holds the record as the most-flown character ballon). There will also be 8,000 volunteers, 5,000 costumes, 11 marching bands and what WWD estimates to be about 300 pounds of sparkling (and we hope eco-friendly) glitter.Since its inception, Macy's employees have hosted the parade to spread holiday cheer and promote America's largest department store. A holiday tradition, it has only been canceled three times—all due to World War II. Let's dive into the history a little, if only so you'll have some interesting facts to share at the Thanksgiving dinner table. Such as, the first parade took place in 1924 (but wasn't nationally televised until 1947).Today, typically 2 and 3 million people line the streets to watch the floats and balloons, which have been around almost since the beginning. But before the balloons, there were live zoo animals, paraded down Manhattan streets on loan from the Central Park Zoo. Thankfully, it quickly became clear that live zoo animals—who were often overwhelmed by the crowds as well as tired by the parade's long route—did not make for the best parade participants. So oversized balloons became the go-to. And for the first few years, they were allowed to float away at the end of the parade. Those who found them got a $100 gift certificate from Macy's.You might say that today's version of zoo animals are celebrities. Which explains why Timothée Chalamet will stand atop a whimsical Wonka-themed float this year, complete with giant hand-painted cherries.
FYI:
The holiday's turkey tradition has more to do with how Americans observed the holiday in the late 1800s than which poultry the Pilgrims ate while celebrating their bounty in 1621.
Israel and Hamas Agree to Hostage Deal
The deal allows for a cease fire while exchanging around 50 women and children for around 150 Palestinian prisoners
This seems promising. The Israeli government voted to approve a hostage exchange with Hamas, the government said in a statement early Wednesday local time. Dozens of women and children hostages will be released over several days, the statement said, during which there will be a pause in fighting.If the ceasefire holds, it will be the biggest diplomatic breakthrough and the first major pause in fighting since Hamas's Oct. 7 attacks that prompted Israel to begin its bombardment and subsequent ground invasion of Gaza. Sources told NBC News that around 50 women and children held as hostages are set be exchanged for around 150 Israeli-held Palestinian prisoners in the first phase. Under the proposal, fighting would pause for four to five days to allow for hostage exchanges and for more fuel trucks to enter Gaza. In the second phase, Hamas could release dozens more women, children and elderly people. The Israeli government said it would extend the pause for every additional 10 hostages released.It's still unclear when the deal will be implemented. But even before the deal was approved, Israeli Prime Minister Benjamin Netanyahu said “the war will continue” even after a deal. Hamas said on Telegram that it had agreed to a “humanitarian truce,” thanking Qatar and Egypt for their efforts in helping to broker the deal. According to the Washington Post, of the nine U.S. citizens and one U.S. legal permanent resident who are unaccounted for, two are women and one is a girl, the official said. The Biden administration expects that the three will be among those released among the first wave of hostages, the official said.
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Home Sales Fall to a 13-Year Low
High prices and interest rates combine to cause purchases to plunge
Home sales fell last month to a 13-year low, as high interest rates and home prices continued to pummel the housing market. Home-buying affordability sits near its lowest level in decades, pushing many buyers out of the market. Existing-home sales for the full year in 2023 are on track to be the lowest since at least 2011, according to economist forecasts.Even as home-buying demand has slumped, the Wall Street Journal reports that the inventory of homes for sale has stayed low. High rates are making homeowners unwilling to sell and move, because they don't want to give up their existing low interest rates. The limited supply is a major reason that home prices are rising in much of the U.S., and is largely being driven by the rise in mortgage rates over the past year. Rates are expected to remain elevated, as the Federal Reserve has hinted that it may hold interest rates at peak levels for longer than previously anticipated.The report from the National Association of Realtors on Tuesday also showed that the median house price last month was the highest for any October. Barring a rebound in November and December, home resales this year are on track for their worst performance since 1992. “The combination of high prices, high mortgage rates, and millions of homeowners unwilling to move, given they've locked in low rates, has frozen the market,” one economist told Reuters. And while builders have been breaking more ground on new housing projects, they are still being constrained by the higher borrowing costs.
Meanwhile:
High-end luxury home sales are up in nearly a third of the largest U.S. metros, per a recent Redfin report.
Mystery Illness Affecting U.S. Dogs
The RESPIRATORY ailment can include a cough, fever, lethargy and a loss of appetite
This is concerning news, especially for anyone boarding a dog over the holidays. Laboratories in at least four states are investigating a mysterious respiratory illness in dogs that are presenting similar symptoms to kennel cough, but can last much longer, and in some cases prove fatal, reports TIME. The cause of the illness is still unknown—a handful of cases tested positive for a bacteria linked to canine respiratory diseases, but it wasn't believed to be the underlying cause.The illness was first detected in Oregon. But it's since popped up in New Hampshire and surrounding northeastern states, along with Colorado, Indiana, Illinois, Washington, Idaho and California. Dogs with the unidentified illness show similar signs of an upper respiratory disease—along with fever and lethargy—but don't actually test positive for common respiratory diseases. While the news may be concerning, “We suggest caution rather than worry,” the Oregon Veterinary Medical Association says.There was one commonality among most of the dogs afflicted: They spent time in places with a high concentration of dogs, such as boarding facilities, doggy day care or dog parks. So experts are advising owners to reduce contact with large numbers of unknown dogs and to avoid communal water bowls. Just like with other respiratory pathogens, the more contacts your dog has, the greater the risk of encountering a dog that's infectious.
Be Prepared:
NBC’s Liz Kreutz reports for TODAY on how to protect your pet as the infection seems to be unresponsive to antibiotics.
In Other News
Binance and its founder to admit wrongdoing, pay $4.3 billion in fines.
New Hampshire Man Had No Car and No Furniture, But Died With a Big Secret, Leaving His Town Millions
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