Quote:
Originally Posted by Chocaholic
Allow a brief bit of pontification: 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.
My thoughts.
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I’m not so sanguine. I agree people are going to be wanting the things they’ve gone without for 2 or three months or more, but I question how much they’ll be able to pay for after 2 or 3 months of being unemployed. Credit cards are likely to be maxed out from paying for necessities for so long. Banks may withdraw mortgage applications that were approved before March. After months of no paychecks people who go back to work may be spending their money paying back creditors. Banks are offering to delay mortgage payments, but that money is still owed, and they’re going to want it. There may not be any money for eating out or buying a car for months. I think we will see a sputtering recovery that takes many months or years to sort out.