The coronavirus has left 13.3% of people in the U.S. without jobs. Retail spending is down about 8% compared to pre-pandemic times. Earnings from big-name companies like Nike and Costco have missed already-low expectations.
Yet, in the face of these stats, the stock market has been rising.
Since its March low, the Dow Jones and S&P have risen about 37%. The Nasdaq is at an all-time high, up 45%.
The V-shaped bounce off of these lows has been completely unprecedented. But stocks aren’t the only asset investors are flocking to…
On Monday, pending home sales for May were released. Coming in at a whopping 44.3% spike, the number overtook the 15% expectation, making for the largest one-month jump in history.
In the face of low economic numbers, real estate, just like stocks, is surging. Realtor.com reports that over the course of 2020, inventory has declined by 15.7%, all while average listing prices rose 3.8% – both indications of a market in high-demand.
But you don’t have to buy property to invest in the real estate sector. (Check out these tiny currencies – they’re changing the industry as we know it.)