Cryptocurrencies aren’t the only assets to have seen their value driven up recently by hordes of eager buyers.

Dogs and cats have too https://trib.al/rp856Bd 

Pets have become more expensive as lonely homeworkers sought out companionship during pandemic lockdowns and remote employment made it easier to care for furry friends during the day http://trib.al/rp856Bd 

In the U.K., there were more than 400 buyers for every pet advertised during April and early May.

That fell to 200 buyers as the U.K. reopened, but has started rising again with tightening restrictions http://trib.al/rp856Bd 

With a stable supply, breeders could charge much more for their animals on average:

Dog prices are 131% this year compared to last
Cat prices are 42%

http://trib.al/rp856Bd 

The number of rehomings rose between January and October for all types of animal:

Dogs
Cats
Rabbits
Rodents http://trib.al/rp856Bd 

The increase in ownership has been described as a sort of baby boom, with demand shooting up for:

Food
Accessories
Toys
Grooming
Vet care

Globally, the pet food and product market is worth $138 billion http://trib.al/rp856Bd 

Over the course of their lifetime, pets are expensive:

$22,800
$11,800

But it's hard to put a price on the companionship, enjoyment and emotional support they provide http://trib.al/rp856Bd 

A recent survey of 6,000 U.K. pet owners found that all pets eased feelings of loneliness during the first pandemic lockdown.

Horses, dogs and cats provided the most comfort, but the emotional bond with birds and guinea pigs wasn’t far behind http://trib.al/rp856Bd 

One danger of a pet market boom is what happens when the forces that made them so sought after in 2020 begin to reverse. Some people may be forced to part with their pets if:

Remote employment becomes less prevalent
Economic impact of the pandemic deepens http://trib.al/rp856Bd 

Thankfully, there are few signs of this happening so far. Many new pet owners are affluent professionals, who should be able to afford dog sitters and vet care once they’re back in the office.

Let’s hope that a dog is for life, not just for lockdown
http://trib.al/rp856Bd