A year ago, the nation's housing market, like the rest of the economy, went into a deep, COVID-induced freeze. By the summer, the real estate industry had adjusted to socially distanced open houses and buyers were trying to get ahead of what would become a long year of work and school from home.
A year of COVID-19 has devastated the US labor market. Despite recouping more than half of the 22 million jobs that vanished during the past twelve months–and a better-than-expected February report, the country still has 9.5 million fewer jobs (6.2%) than the pre-pandemic level a year ago.
On November 8, U.S. news outlets called the 2020 election, but investors had already voted with their money. After the worst week since March, stocks soared election week and recouped all of the previous week's losses–and then some. The S&P 500 soared 7.3% the best presidential election week since the 1932 election.
A surprising star has emerged from the pandemic-induced recession: the housing market. After freezing up in March and April, realtors, buyers and sellers began adapting to a new reality: we are spending a lot more time in our dwellings, and some of us are not happy with where we currently live. Add to that fact, that there are not enough houses for sale — and that mortgage interest rates have cratered, and you may notice that there is a full-fledged frenzy going on in some housing markets around the country.
In the wake of COVID-19 economy, businesses that previously got along without having an online presence, or one that was limited to a Facebook or Instagram page, began looking for ways to get online and get online quickly. A website of your own gives your business control of your message and provides new opportunities to reach more customers.
The definition of wealth varies for many. Freedom, time, and money are important variables that make up the definition of wealth. Attaining these 3 variables is not easy and is never complete, but having the right mindset is important to progress towards each. Specifically, a wealthy mindset is critical for this progress and it involves four pillars: framing, brainstorming, taking action, and evaluation. This essay will explore these four pillars in an effort to provide you with a wealthy mindset framework.
COVID-19 started as a health pandemic and then became a financial pandemic — now the two are intertwined. Let’s start with the big picture on where things stand and then we can get to your action plan for the second half of the year.