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Obsidian Planning

Obsidian Market Update 8/26/2022

Hello friends!


This week, we’ll look at two elements of the economy: rent and spending. Then, we’ll take a look at a beautiful new vineyard in Virginia.


It’s no secret that rent is spiking across the nation right now, at a rate four times higher than wages are rising. This is creating a unique environment, especially combined with inflation decreasing the spending value of the dollar so that essential goods are harder to obtain for some people. Right now, an estimated 58% of renters are living paycheck to paycheck.


There are a few reasons rents have gone up. Supply and demand is at the root of most of it. For one thing, the spike in housing costs in 2021 priced many would-be homeowners out of the buying market, keeping them in (or returning them to) rentals. As the pandemic has matured, those folks that previously shared spaces with friends or family, have now entered the rental market seeking their own spaces. There has been a significant increase in single-person households. Another interesting statistic is that younger families, fresh with cash from stimulus programs for a down payment, saw the dramatic rise in home values price them out of ownership. This added to the demand for rental properties.


The real estate market continues to change just like many other things in the world we live in.


In the meantime, perhaps we can all enjoy a nice glass of wine (for those of us who drink, anyway). We found some very cool vineyards in our neighboring state of Virginia that we think you should try:


  • Nicewonder Farm & Vineyards first entered our awareness when we saw this lovely Forbes write up about their new venture, an inn where guests can stay in beautiful rooms overlooking 13 acres of grapevines. Sounds like a dream come true!
  • Want delicious wine but with food offerings besides cheese and crackers? Venture to Narmada Winery in the foothills of the Blue Ridge mountains. Not only is the wine great, but they offer a selection of Indian food (along with the usual cheese and crackers). It’s a beautiful place to watch the clouds go by or cozy up by the fire in the winter.
  • Bring your dogs and let them explore a dog-approved pond and some green space at Maggie Malick Wine Caves in Loudoun County. They host live music, dock dog diving competitions, and more in their expansive outdoor space.
  • Are you bringing along some friends who might be more interested in beer or spirits? Old House Winery in Culpeper is the perfect spot. They often have food trucks on the weekend and if you’re lucky, they’ll be serving brick oven pizzas.


Your turn! Where do you go when you want a vineyard fix?


That’s it for us this week. Have a relaxing weekend, and we’ll be back in your inboxes next Friday.


How We Help


We recently met with a referral for their Lifestyle Protector Plan presentation meeting. Their balance sheet showed that they own several cars. By asking lots of questions, we learned that they were carrying too little liability coverage on their car insurance. We discussed their need to increase the base limits and the umbrella policy. This client has a fairly substantial net worth, so we had them increase liability and the umbrella to ensure their assets are protected. Not sure if your insurance policies are adequate to your needs? Get in touch and we’ll talk you through it!


Advisory Services offered through Obsidian Personal Planning Solutions, LLC. Securities are offered through Triad Advisors, member ​FINRA/SIPC.​ Obsidian Personal Planning Solutions, LLC, and Obsidian Personal Planning Solutions, Inc, are not affiliated with Triad Advisors.

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