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. Last Friday the unemployment 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: As the market churns lately…we in the Austin area still have tight inventory levels and people that want to live in and own real estate in and around Austin. So currently still a “sellers” market with less than 2 months inventory in most market segments. Remarkably, property values continue to increase. How long will this continue is anybodies 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 always align with the data. In many surveys since 1989, the majority of Americans said there was more crime compared to the year before, despite the downward trend in both violent and property crime rates in the US during that period.