354 - The New Economy and Our Homes

<p><span style="font-weight: 400;">As we continue to explore our interim normal from COVID-19, I want to share some insights on the economy and how we are changing the way we use our homes. I am not an economist or a real estate expert, but I am a questioner and I want to share my own personal thoughts about how we continue to adapt to these extraordinary (unprecedented) times we are in.</span></p> <p><span style="font-weight: 400;">We are in the middle of a transition in technology, working from home, social media, and how we are living in our current reality. As I have shared before, my study of different generations has shown that history is cyclical and we move from one end of a particular pendulum to the other, and then we come back again. </span></p> <p><strong>The Stuff We Keep</strong></p> <p><span style="font-weight: 400;">In the 1980’s we were at the height of consumerism and stuff. Near 2020, many people were very minimalist. In the next few years, I expect that people are not going to declutter as much. We have now faced supply chain issues, shortages, and have learned we cannot always go shopping for (or even order delivery) of the things we want right now. </span></p> <p><span style="font-weight: 400;">Our families are also changing. More people are living at home, indefinitely. While young adults used to go out and begin living independently, the health and economic issues are meaning more are living at home for longer periods. This also changes the amount and type of stuff we are keeping in our homes. </span></p> <p><strong>Economic Changes</strong></p> <p><span style="font-weight: 400;">Retail stores are going bankrupt. The economy was shifting prior to the pandemic, but COVID creased a condensed timeline. While businesses usually change at a much slower pace than individuals or families, they are now being forced to adapt more quickly, and not all will be successful. </span></p> <p><span style="font-weight: 400;">Supply chain issues are also a real thing, and will likely continue for a while. Fo