MRB on Money Morning – November 17, 2020
Here’s the funny thing: Economists can’t really agree on why it’s happening. It’s been the “upside surprise” of this pandemic year. MRB Partners’ Prajakta Bhide said it best: “It’s very unusual in a recession and needs to be further examined.”
The data Bhide shared seem to point to a boom that’s being driven by affluent buyers who’ve held onto their jobs during the pandemic wave of unemployment. The numbers point to big growth in the mid- to high-end housing tier, not so much in the “entry level” market, which hasn’t done as well.