THEY HAD TO BE SURE
The government announced on 7/19/21 that the recession the United States entered into at the end of February 2020 lasted just 2 months, ending on 4/30/20. The recession, the 18th in the country in the last 100 years, was the shortest recession in the last century. The other 17 recessions in the last 100 years lasted on average 13.6 months. (Source: Business Cycle Dating Committee of the National Bureau of Economic Research.
JUST TAKE UBER
The price of used cars and trucks in the United States is up +45.2% for the 1-year period ending 6/30/21. Over the same period, the price of “medical care services” is up just +1.0%. (Source: Bureau of Labor Statistics)
WHATS YOUR HOME IS DONE
The average single-family home in the USA has appreciated +15.7% over the 1-year ending 4/30/21, up +7.9% per year over the last 5-years, up +6.4% per year over the last 10-years, and up +4.1% per year over the last 20-years. (Source: Federal Housing Finance Agency)
Inflation, using the “Consumer Price Index” (CPI) as the measurement, was up +5.4% on a trailing 1-year basis as of 6/30/21. In the last 30 years, there was only 1 month when trailing 1-year inflation was greater than +5.4%. Inflations was up +5.6% for the 1-year ending 7/31/08. (Source: Department of Labor)