My family recently had to relocate due to a layoff and a new job in a lower COL area. We had to move before we could sell two houses and as a result are now renting and sitting on a $550k pile of cash. We would like to purchase something within the next 6-12 months, but so far are very disappointed with the market offerings in the area, so it could be longer. It feels very odd to have this much cash sitting around and earning a measly .99%, but am leery of putting it into the market or in bonds if we're only going to pull it out again in a few months.
What should we do? Keep it where it is? Go for a bond fund to get slightly better returns? Help?!