It strikes me as remarkable that despite the poor earnings reports and shuttered businesses the stock market continues to go up. This proves me once again to be an investment buffoon, after moving some 401k money into savings. Better safe than sorry was my thinking a few months ago as we prepared to buy a house. Fortunately, interest rates continue to remain low. There’s also been a recent surge of buying in our new Venice, Florida resort community. It makes no sense!
I thought we were lucky to sell our home so quickly before the pandemic started. Apartment living is not an investment at all, while real estate agents continue to report a hot Portland market. Apparently, all the attention we’re getting nationally has people coming in droves. “Portland is a riot – let’s go there. They’re partying in the streets.” Once again, it all doesn’t make sense.
This time of stuck-at-home, self-isolation has everyone reevaluating their priorities. Money originally planned for travel is being invested in home improvements. Outdoor kitchens, huge decks, bigger TVs, and new furniture are the American dream. Or, move on up to a bigger, nicer home, where you’ll be spending all your time in the future. Work from home, school from home, and entertain yourself at home. The whole family benefits from this new model of society. In the meantime, travel-related businesses, auto dealers, restaurants, and movie theaters all suffer.
On the positive side, there’s been an increase in RV sales, camping gear, gaming, swimming pools, bicycles, exercise equipment, and collecting. A friend who deals in classic cars has seen a huge uptick in recapturing past memories as opposed to making new ones. Travel has shifted to the domestic front. Where all the money is coming from is the biggest mystery of all, with so many out of work. Do they feel the end is coming soon, so there will be no need to pay it back. Is “live for today” the new American attitude? It makes no sense!