Young Research & Publishing Inc.

Investment Research Since 1978

Disclosure

  • About Us
    • Contributors
    • Archives
    • Dick Young’s Safe America
    • The Final Richard C. Young’s Intelligence Report
    • You’ve Read The Last Issue of Intelligence Report, Now What?
    • Dick Young’s Research Key: Anecdotal Evidence Gathering
    • Crisis at Vanguard
  • Investment Analysis
    • Bonds
    • Currencies and Gold
    • Dividend Investing
    • ETFs & Funds
    • Investment Strategy
    • Retirement Investing
    • Stocks
    • The Efficient Frontier
  • Investment Counsel
  • Retirement Compounders®
  • Free Email Signup

COVID-19, Riots, Accelerate the Escape from the City to Small Town, USA

June 26, 2020 By E.J. Smith

Montpelier, Vermont, USA. By Sean Pavone @ Shutterstock.com

Americans living in big cities in states where governors have gone wild with shutdowns, but allowed riots to rule the streets, are trying to escape.

The COVID-19 pandemic–and the rioting that has followed it–have accelerated the exodus from the big tax cities.

Americans were already trying to flee the big city blues. Now they’re really looking to escape.

They’re seeking some shelter away from it all.

Many of them are heading to the suburbs or the exurbs, but many of them are also heading to the lower cost, smaller cities in the South, and West that were already popular destinations for escapees before chaos struck.

Liz Lucking explains at Mansion Global:

Phoenix, Sacramento and Las Vegas were the most favored destinations for U.S. homebuyers looking for a major relocation in April and May, according to Thursday’s migration report from Redfin.

A record 27% of Redfin users searched for homes outside their metro area during the two-month window, the peak of the coronavirus crisis in the U.S.

The figure, based on a sample of more than 1 million users, is the highest recorded since Redfin began reporting net migration data in early 2017, and was likely bolstered by more people considering moves to quieter, less crowded areas with more square footage, Redfin said.

While contributing to demand, buyers looking to relocate as a result of the coronavirus are not the exclusive drivers of out-of-town interest, and the “long-term impact of the pandemic on people actually moving from one part of the country to another remains to be seen,” Redfin economist Taylor Marr, said in the report.

“People are starting to take the plunge and move away from big, expensive cities, though most of them were probably already considering a lifestyle change,” Mr. Marr said. “The pandemic and the work-from-home opportunities that come with it [are] accelerating migration patterns that were already in place toward relatively affordable parts of the country.”

You have read here that it’s important to do some investigation when you’re choosing where to retire.

Look for a place that’s small, cheap, and safe–somewhere you can live in your dream community, not a nightmare.

P.S. The portfolio manager of the Vanguard GNMA Fund, Michael Garrett is set to retire this year. Here’s a bit about Garrett, and the GNMA fund’s future from CityWire.com:

Veteran Wellington portfolio manager Michael F. Garrett is to retire this year, according to a filing with the Securities and Exchange Commission.

Citywire + rated Garrett is listed on five funds subadvised by Wellington. These are the:

  • Vanguard GNMA ($21.8 billion)
  • SEI Short-Duration Government ($696.2 million)
  • SEI GNMA ($64.8 million)
  • Hartford Quality Bond ($128.2 million)
  • Hartford US Government Securities HLS ($335.4 million)

Garrett has been with Wellington for 20 years, according to his LinkedIn profile. He will retire on June 30, 2020.

On the Vanguard GNMA fund, Garrett is the sole manager and Wellington is the sole subadvisor. The fund is ranked second out of 13 GNMA funds tracked by Citywire for three-year total returns to the end of April. During that time it was up 4.5% compared with the category average, which was up 3.5%, and the Bloomberg Barclays GNMA TR index, which was up 4.6%.

According to a spokeswoman for Vanguard, Wellington portfolio managers Brian Conroy and Citywire AA-rated Joseph F. Marvan have been added to the Vanguard GNMA fund. They will replace Garrett after his retirement this year.

A spokeswoman for Wellington did not return a request for comment before publication.

Originally posted on Your Survival Guy. 

Share this:

  • Email
  • Twitter
  • Facebook

You Might Also Like:

  • How to Avoid COVID-19 Stimulus Scams
  • COVID-19 Traffic Jams Are Killing Africa’s Truck-based Economy
  • Escape NYC, Go to Margaritaville
  • Author
  • Recent Posts
E.J. Smith
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris.

Please get in touch with E.J. at ejsmith@youngresearch.com

Click here to sign up for my free monthly Survive & Thrive letter.
Latest posts by E.J. Smith (see all)
  • Your Survival Guy in Rome 30-Years A.B. (After Babson) - May 26, 2023
  • A Three-Week International Research Trip to Paris via Rome - May 25, 2023
  • What Does That Have to Do with Your Dividend? - May 24, 2023

Search Young Research

Most Popular

  • Letter to the Federal Reserve Chairman from Your Survival Guy
  • What Does That Have to Do with Your Dividend?
  • Is an Investment Property Disaster Looming?
  • “I Came from Nothing,” He Said. “I Mean Nothing.”
  • Private Debt Funds: More Risk than Meets the Eye
  • The Wisdom of Sam Zell
  • How Activists Have Weaponized Corporate Boards
  • Is Japan Rising Once More?
  • Vanguard Wellesley (VWINX) vs. Wellington (VWELX): Which Fund is Best?
  • When Did You Become Serious about Your Money?

Don’t Miss

Default Risk Among the Many Concerns with Annuities

Risk and Reward: An Efficient Frontier

How to be a Billionaire: Proven Strategies from the Titans of Wealth

Cryptocosm and Life After Google

Warning: Avoid Mutual Fund Year End Distributions

Is Gold a Good Long-term Investment?

How to Invest in Gold

Vanguard Wellington (VWELX): The Original Balanced Fund

What is the Best Gold ETF for Investing and Trading?

Procter & Gamble (PG) Stock: The Only True Dividend King

The Dividend King of the North

You’ll Love This if You’re Dreaming of an Active Retirement Life

The Importance of a Balanced Portfolio

Invest with Peace of Mind and Comfort

What Kind of Life Are You Investing For?

RSS The Latest at Richardcyoung.com

  • Pushing the Envelope Too Far
  • Your Survival Guy in Rome 30-Years A.B. (After Babson)
  • America’s Favorite Wordsmith Needs Tutoring
  • A Three-Week International Research Trip to Paris via Rome
  • BIOTERROR RISK: The Dangers Genetically Modified Insects
  • Why Be Proud?
  • What Does That Have to Do with Your Dividend?
  • Will Biden’s Ukraine Gambit Be America’s Worst Foreign Policy Disaster?
  • Stossel Says DeSantis Is “Smarter and Better than Biden.”
  • What Would They Give Up for “Equity”?

RSS The Latest at Yoursurvivalguy.com

  • Your Survival Guy in Rome 30-Years A.B. (After Babson)
  • Insurers Now Fleeing the Net Zero Insurance Alliance
  • A Three-Week International Research Trip to Paris via Rome
  • Will Biden Repeat Obama with US Debt Downgrade?
  • What Does That Have to Do with Your Dividend?
  • The ESG Cartel
  • Two More States Nearing Passage of Permitless Carry Legislation
  • How Activists Have Weaponized Corporate Boards
  • Letter to the Federal Reserve Chairman from Your Survival Guy
  • Big Blue Blob Cities Get Bad News from Census Report

About Us

  • About Young Research
  • Archives
  • Contributors

Our Partners

  • Richard C. Young & Co.
  • Richardcyoung.com

Copyright © 2023 | Terms & Conditions

 

Loading Comments...
 

    loading Cancel
    Post was not sent - check your email addresses!
    Email check failed, please try again
    Sorry, your blog cannot share posts by email.