Housing & Share Price Wealth Advances
For the past year, the news has been filled with deeply distressing stories about the coronavirus contagion and sectors of the economy where jobs and earnings losses have been enormous.
Against most initial expectations, however, there’s been one underpinning of the lives of many of us (keeping our fingers crossed) that has gone mainly from strength to strength, the value of our assets. Prices for residential properties have made solid gains and stock markets have been soaring.
Several pandemic-related factors have boosted housing real estate values. (1) The Federal Reserve has kept interest rates inordinately low, stimulating demand. (2) Existing-home owners are staying put, reducing the inventory of properties offered for sale.
(3) Prospective buyers are looking for accommodations with adequate square footage to facilitate the new work-from-home trend. And (4), in some instances, government income relief checks have helped with the accumulation of down payment funding.
