If you are in the US, check any Aldis near you. No joke, got a quality stand for like $40, and it collapses down to fit in a corner or closet.

I have a J&G rain cape. It is really great - thumb loops means you have a little dry cabin (protip: if you have a spot on your handlebars to hook the loops, it keeps your arms dryer). Yes, if you are going fast it does have a little resistance. BUT, it also breaths much much better than any rain jacket I’ve ever had. So you don’t get nearly as clammy or sweaty. To me, that’s a worthwhile tradeoff.