Truck Load Rates Halt 8 Week Slide 2.0

Consumer confidence is way down, plus people aren't getting much of a stimulus check and expanded unemployment checks like they were earlier in the year. A full third of the workforce lost their jobs in the first half of the year and remained unemployed. Since then many more have joined their ranks, so people are in survival mode right now. On top of that they have tax increases to look forward to this year and a lousy outlook for new jobs. This recession will make 2008 look like a walk in the park.

 

And yet house prices and stock market keep going up up up.
This whole thing is just beyond the logic

 

People are fleeing cities to the suburbs and/or country. Renters can’t be removed from homes, home owners can’t be foreclosed upon. This means low low inventory and there’s still right smart amount of people who are making great money. Equals home prices up up up. Not to mention interest rates LOW.

I hope it keeps up. I’m building a house right now and will sell this one come May or June. Bought summer 2018 for 240k and now Zillow says 300k. Fingers crossed!

Edit: also people working at home are realizing they need more space. That’s another aspect around these parts anyway.

 

...to deep country sites where you all you see is cows and corn, and hawks diving for the mice. I am of the sentiment lately too. Both of my neighbors sold their houses in the last few weeks. Boy they sold quick. So quick and simultaneous that for a moment I was afraid that it was about me, like they found out that I drove White Volvo or something...
They were retired or close to it and their kids left the nest for good. I sold my rental condo too. I am glad, I did. I don't reveal a real estate shark talent either...lol.

 

Im surrounded by an apple orchard and just down the road are corn fields and cattle. I’m still only 25 mins from my states capital. I love it here. It’s still country for sure. Small town diner, no masks, good people.

 

The house I lived in from 2005 to 2018 I bought in 02 for 83k. Sold it 2018 for 128k thinking I did real well. Just looked and the “new” buyers just sold it for 140k. It took 16 yrs to go from 83 to 128 and frankly most of that was from 2016 to 2018.In 2015 it was maybe 110 at best.

 

I am really in love by the West Coast of Michigan - the more up north, the better . Nice properties that feel rural, not too far from one of the best beaches in the USA. And White Winter. Snow...they are getting such a beautiful snow for Christmas every year. I could use my snow blower for a change...perhaps the backyard could be large enough to build a barn and park the truck back there. Don't know anybody up there, though. Dream on.

 

About this economical uncertainty and gloomy outlooks, let me remind you that as far as trucking is concerned, it is hard to find predictability and good rationale. Was it really that long after Summer of 2008, when everyone started making a killing too.
This is an economical might here and the pendulum will always go back up. What were we able to predict this day a year ago 1/31/20? it would be interesting to dig out that thread and see what was talked about back then, certainly not what we have seen for the last 6 months.