“Housing market is still going strong and propping up the economy”
August 18, 2020
“The housing market continues to be a bright spot inthe United States economy that has been ravaged… The government said Tuesday that building permits and housing starts both surged in July and easily topped economists’ forecasts.
Home Depot (HD) reported sales and earnings for the second quarter Tuesday that rose more than 20% from a year ago, topping Wall Street’s forecasts. Both Home Depot and rival Lowe’s (LOW), which will issue its latest results Wednesday, are trading at all-time highs thanks to strong demand from DIY shoppers…”
https://www.cnn.com/2020/08/18/investing/housing-market-economy-home-depot-earnings/index.html
All the people moving away from big cities have to live somewhere. They’re going to need houses.