It may seem like a strange time to talk about buying a home, what with so many people having recently been laid off or furloughed, or having to shut down their own businesses due to the pandemic. However, I hear rumbles of it. All of this time at home has inspired some online shopping for workout equipment, non-perishable foods, and…property? Yup. It’s happening. Several of my friends and family members are taking to Zillow and similar real estate sites. You may think that everyone would want to hold onto every dollar they have when it seems that future income is far from certain and the economy is anything but stable. But, many see buying a property as a way of making sure they hold onto those dollars. And, all of this staying at home we’ve been doing has had many rethinking what a home really is. We’ve all been just stuck in our homes. Maybe some of us have learned that we aren’t happy with our current living situations. Our busy lives distracted us from that before, but this pandemic gave us nothing but time to fixate on our homes, and ask ourselves, “Is this where I’m happy to plant my roots?” Here are reasons this pandemic has many wanting to buy homes.
Anti-stock market sensibilities
A lot of us got, I hate to say it, royally f&#ked by the stock market during this crisis. So many had their entire retirement savings in the stock market. Whether through a 401K, a Roth IRA, personal investments, or all of those, they may have seen so much of the money they hoped would carry them through their non-working years slip away. People aren’t loving the stock market right now.