Print the page
Increase font size
Down the Primrose Path…

Posted June 30, 2021

Aaron Gentzler

By Aaron Gentzler

Down the Primrose Path…

“Jobs and workers would be plentiful if the Democrats would stop paying people more to stay home than they make working,” says our contributor today. “Unfortunately, political leaders are teaching people that laziness is the best policy.”

We don’t believe it’s quite so simple: we can only imagine how difficult it would be to pass up steroidal unemployment payments which eclipse regular pay.

But the problem we see at the end of the primrose path is a cluster of events that might reveal the state of the real economy:

  • On June 30, the national eviction moratorium comes to an end.
  • On Sept. 6, the $300/week unemployment payments officially expire per the American Rescue Plan (some states are terminating payments early).
  • On Oct. 1, the moratorium on federal student loans ends.

What happens after, is anyone’s guess… Reader, what’s your take on this convergence of events? What will be the impact on the real estate and job markets?

Send your opinions to, TheRundownFeedback@StPaulResearch.com

Investors Rush to Real Estate ETFs

“Raging real estate prices have sent investors pouring into exchange-traded funds tracking the industry’s gains,” says an article at Bloomberg.

Two real estate ETFs, in fact, are poised for their best monthly inflows -- almost $4 billion -- since 2014.

To wit, “BlackRock’s iShares U.S. Real Estate ETF (IYR) has already taken in $2.5 billion in June, putting it on track for its best month ever,” Bloomberg says. “Another BlackRock fund -- the iShares Global REIT ETF (REET) -- is headed for its best month of inflows since 2017.

rundown image

“Many of the category’s products, which invest heavily in real estate investment trusts, are outperforming broad-based indices,” the article notes. “Vanguard’s Real Estate ETF (VNQ) and BlackRock’s IYR have each gained about 20% this year, compared to 13.6% for the S&P 500.”

Mohit Bajaj of WallachBeth Capital believes the rush to real estate has a lot to do with investors’ appetite for yield. “It seems like the Fed might be raising rates but not anytime soon,” he says, “so real estate and housing-development companies should bode well in lower interest-rate environments.”

But… a word of caution: “Historic stimulus measures by central banks around the world and an economic recovery that’s gaining speed are pushing up prices in every corner of the real estate market, fueling what some worry is becoming a bubble.”

Keep close watch on the real estate market in general… and BlackRock’s real estate ETFs in particular.

Market Rundown for Wednesday, June 30, 2021

The S&P 500 is hanging out at 4,291.

Oil is up 0.75%to $73.53 for a barrel of WTI.

Gold is down $1.50 per ounce to $1,762.50.

Bitcoin is in the red, down 4.5% to $34,697.95.

Send your comments and questions to, TheRundownFeedback@StPaulResearch.com

Have a wonderful day; we’ll be back Friday…

For The Rundown,

Aaron Gentzler

Aaron Gentzler
Editor, The Rundown
TheRundownFeedback@StPaulResearch.com

The Daredevil in Pink Tights

The Daredevil in Pink Tights

Posted June 30, 2025

By Matt Insley

A spectacle that occurred on this date in history was called “the wonder of the age.” Today, Trump’s political tightrope walk is no less perilous.
Star Geologist On “Birthright” Companies

Star Geologist On “Birthright” Companies

Posted June 27, 2025

By Matt Insley

Notes from the underground…
Iran’s Energy Chokepoint: Strait of Hormuz Fallout

Iran’s Energy Chokepoint: Strait of Hormuz Fallout

Posted June 25, 2025

By Matt Insley

The Strait of Hormuz crisis underscores the risks of dependence on global energy chokepoints. America’s true advantage lies beneath its own land
The Essential “American Birthright” Playbook

The Essential “American Birthright” Playbook

Posted June 23, 2025

By Matt Insley

The following guide breaks down the process — investing in mining stocks — into three clear steps, with specific rules for both major and junior miners.
RSVP: Steer Our Next “American Birthright” Conversation

RSVP: Steer Our Next “American Birthright” Conversation

Posted June 20, 2025

By Matt Insley

Whether we’re debating the future of MAGA — or learning to invest in America’s mineral wealth — your engagement makes this community so special.
Tucker, Trump and MAGA’s Rift

Tucker, Trump and MAGA’s Rift

Posted June 18, 2025

By Matt Insley

One issue might split the MAGA movement: the U.S. must avoid entanglement in another “forever war.”