Vacation homes surge during pandemic

City folk wanted out [Click to view in browser](. Dear subscriber, We heard stories about New Yorkers fleeing the city for Florida, driven by better weather and looser restrictions. There had always been a natural flow from the Northeast to the Southeast as folks retired. But the pandemic brought about a new set of circumstances. Second homes are a must Manhattanites struggled mightily as lockdowns left them little square footage to roam. Outside of Central Park, there wasn’t much space to stretch your legs. It led to a surge in car buying (to drive away from the city) as well as second homes. That latter trend appears to be continuing despite economies reopening. Redfin noted that the number of buyers who locked in mortgage rates for second homes spiked 178% in April. So where are they buying? Pretty much anywhere that’s cheap with space. Californians moved to Nevada, Arizona, Colorado, and Texas, while Northeasterners moved to the Carolinas, Texas, and Florida. That led to a boom in home prices in some of the more affluent areas including Southeast Florida, Dallas/Fort Worth, Austin, and Charlotte. Still, home prices in these areas remain well below comparable city dwellings. And if you have a little give in your mileage, prices drop substantially as you move into the country. Will it continue? So far, the housing market shows no signs of slowing. But the surge in refinancing also signals folks locking in low rates ahead of potential Fed tightening. And frankly, the scarcity of supply makes it difficult to find a place. However, as restrictions lift and more people start moving for jobs and what have you, we’ll likely see a quick surge in buying followed by a cooling in prices. Our hot take If you’re in the market for a second home, consider expanding your search radius. Even non-traditional places like Boise are seeing more interest. But keep an eye on interest rates. Once those start rising, the housing boom is likely at an end. For now, check out some of the great articles we collected from our publishers below. [If You Invested $1,000 In Dogecoin, AMC and Gamestop On Jan. 1, Here's How Much You'd Have Now]( Five months are on the books for 2021. Some of the best-performing stocks and investments have been ones pushed by WallStreetBets and seen as potential short squeezes. A cryptocurrency based on a meme has also performed well.[Read More]( [New Renewable Fuel May be 3 Times More Powerful Than Gasoline]( Baystreet Staff - Monday, June 7, 2021 New Renewable Fuel May be 3 Times More Powerful Than Gasoline ... [Read More]( [High Profile Team Leveraging Hydrogen Vehicle Boom]( Hydrogen Vehicles Are Here & This Company Has a Big Foot in the Door For Fueling Them [Read More Here]( Sponsored [Why Sundial Growers Plunged Last Week]( Chris Lau - Monday, June 7, 2021 Why Sundial Growers Plunged Last Week ... [Read More]( [Why Helium Could Be The Next Commodity To Boom]( Baystreet Staff - Thursday, April 22, 2021 Why Helium Could Be The Next Commodity To Boom ... [Read More]( [Retail Goes D2C]( The way people shop continues to evolve. This company has created an online e-commerce platform designed to assist innovators in meeting sales growth goals. [The way people shop continues to evolve. This company has created an online e-commerce platform designed to assist innovators in meeting sales growth goals.]( Sponsored [The Geopolitics Of Gold]( Authored by Alasdair Macleod via GoldMoney.com, [Read More]( To ensure delivery of all emails, [whitelist us](. You are subscribed to email updates from [InvestingChannel](. To stop receiving these emails, you may [unsubscribe]( now. InvestingChannel, Inc., P.O. Box 118 New York, NY 10018. Disclaimer: This is not investment advice. This InvestingChannel, Inc. newsletter is for information purposes only and opinion-based. Futures, forex, stock, and options trading are not appropriate for all investors. There is a substantial risk of loss associated with trading these markets. Losses can and will occur. No system or methodology has ever been developed that can ensure returns or against losses. No representation or implication is being made that using any of these methodologies or systems will generate returns or ensure against losses. Investors should be cautious about any and all investments and are advised to conduct their own due diligence prior to making any investment decisions. [Link](