https://www.wsj.com/articles/consumer-spending-personal-income-coronavirus-september-2020-11604012444
- Article dated 10/30/20
- Wall Street Journal
- Households are boosting their spending for the fifth straight month
- Rose 1.4% last month
- Personal income rose 0.9% last month
- Bought clothes, footwear, cars
- Goods sank 2%
- Service spending rose 1.1%
- Attributing to upturn in economy and increased unemployment benefits
- Article mentions and probably the most likely cause is loan and mortgage forbearance.
- This is why people were reluctant to give both and at the levels that they did.
- What will they do when the bill comes due
- When people should have been saving for the bad times on the horizon, they were living it up.
- If you’re a real estate investor, I’d keep my eyes open for when the other shoe drops in mid 2021.
