Quote:
Originally Posted by Chocaholic
There is a concept called pent-up demand. We were well into historic stability in our market when the virus hit just a few weeks ago. The potential for rapid recovery is high once the dust clears...this spring/summer hopefully.
Restaurants will be very busy and rehiring as a result. Sporting events, entertainment venues, manufacturing (especially in healthcare), housing starts, auto demand and a plethora of new businesses that address the shortfalls we've experienced in this pandemic will thrive. To name a few.
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I think that's something a lot of people are missing. A lot of businesses are being hurt right now due to the fear and uncertainty surrounding this virus. I know several business owners who have told me they had customers just up and cancel planned job. That money didn't disappear. The people just aren't going to spend it in a time of uncertainty. As you said, once the dust settles there is going to be a spending spree.