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Here we are in the midst of an international pandemic. I do not have words for this. Feeling so badly for all those ill affected and yet so grateful for those of us that are not.
Apple’s new campus in north Austin continues to move forward.
Tesla has confirmed picking the central Texas sight as the location for its newest plant.
Message: In 1968, Presidential candidate Robert Kennedy and Dr. Martin Luther King Jr. were assassinated, the H3N2 virus had killed more than 100,000 Americans, civil rights and the Vietnam war inflamed protests and riots across many cities in our nation, and North Vietnam had just launched the Tet Offensive. In Q1 of that year, the economy took a nosedive, only to rally by 24% in Q2. Proof that the markets have never had emotion, caring, or empathy.
Many economists are beginning to consider 1968 as they predict how 2020 will advance for America. If you consider the NASDAQ as any sort of indicator, it has risen beyond levels attained earlier in this year. Amazing. Although unemployment continues to be a problem, Friday the rate unexpectedly fell to 13% and has provided the catalyst to at least temporarily push the markets back to levels attained earlier in 2020.
Austin Real Estate Market Update: Currently a “sellers” market with less than 2 months inventory in almost all market segments. Remarkably, demand continues to outbound available inventory, so property values continue to increase. How long will this continue is anybody’s guess. Interesting Point: Crime levels have declined sharply in the US over the past three decades. According to FBI statistics, the rate of violent crime fell 50% between 1993 and 2018. However, public perceptions about crime don’t seem to align with the hard date. In many surveys since 1989, the majority of Americans said they felt there was more crime compared to the year before, despite the sharp downward trend in both violent and property crime rates in the US during that period.