Don't expect a mad rush to the stores as people get their new stimulus checks authorized in March under the American Rescue Plan Act.
In a recent report, Liberty Street Economics says that people will focus on savings or paying down debt with their most recent stimulus check.
If this may seem to be a departure from previous spending patterns that is because it is. As each new stimulus check came out, people focused less on consumption and more on savings. The amount set aside for consumption fell from 29% in the first round to 26% in the second and 25% in the third, according to Liberty.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
