As summer winds down, the economy is still facing numerous challenges but you wouldn’t know it by looking at the stock market and real estate these past few months. Let’s try to make some sense of what we’re seeing in both markets and find out what Don thinks about the rest of the year.
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As we prepare for Labor Day and the unofficial end of summer, it’s time to look back at the past few months and try to get a better understanding of what we’ve seen from a financial perspective.
No one will argue that this hasn’t been a strange year. There’s no denying that, and it’s carried over to the market. Despite many indicators that the economy is still facing multiple challenges, investors have watched the stock market roar back from the lows of March to set new highs for the year. Even though we’re far from out of the woods with the pandemic and its fallout, it’s still been remarkable to see the turnaround this summer.
Then there’s the housing market. Many people were worried that we’d see real estate struggle alongside the other sectors, but it’s been just the opposite. The historically-low mortgage rates made many move quickly to buy a new home or refinance.
And while we know the low interest rates are driving the housing market, it’s also important to note that the demand for space and a shift in culture to work from home are also contributing factors. Now we have a low supply and much more demand in many areas of the country and who knows when that will change.
As you can imagine, a lot of people are wondering how these tings can move opposite of the economy so we wanted to take some time on this episode of Your Money & Your Life to get Don Cash’s perspective on an extraordinary year. Find out what to make out of these stock market gains, whether tech will continue driving growth, how the election could impact things, and get the latest on real estate. It’s a busy episode but one we think you’ll find interesting and informative.
Listen to the entire episode or click on the timestamps below to skip ahead to a specific segment.
0:48 – What’s going on since last show?
5:48 – What should we make out of these market gains?
10:19 – Tech driving the market
12:56 – How will the election factor into the market?
16:45 – How is the housing market staying so strong?
23:25 – Does Don have any clients thinking about cashing out and moving?
24:24 – Where is Don getting his news from these days?
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Donald W. Cash – CPA, CFP® is an independent advisor. Don began his career in 1985 as an accountant after graduating Rutgers University. In 1990 he entered the field of Estate Planning with a concentration in long term care planning. Don has been advising clients in the baby boomer and retirement market for 20 years. He has helped over 1,000 families with their planning needs. He advocates a holistic approach to Estate and Financial Planning as has relationships with other professionals including Attorneys, CPA’s, Mortgage Specialists, Insurance Specialists and Asset Managers. Don is married to Cathy and have 4 children, Carly, DJ, Nick and Tori. They live in Freehold, NJ.