Another reason why every asset is going up right now: https://fred.stlouisfed.org/series/PSAVERT
Savings rates have exploded, and those funds need to go somewhere.
Savings rates have exploded, and those funds need to go somewhere.
I'm at the traditional "first-time-homebuyer" age, and I'm personally saving a fair portion of my income primarily because assets, such as houses, are so expensive. Were housing cheaper, I'd be paying a mortgage instead of a saving account.
(And, I'd argue, sending longer doing so too due low interest rates.)
As per the earlier link:
> Personal saving is equal to personal income less personal outlays and personal taxes; it may generally be viewed as the portion of personal income that is used either to provide funds to capital markets or to invest in real assets such as residences.(https://www.bea.gov/national/pdf/all-chapters.pdf)