172driver wrote:
That said, if there is a significant second wave this may well turn catastrophic. In short – wait and see. We’ll know more by Christmas or early 2021.
Which is fully to be expected seeing how people completely have lost all discipline once the lockdowns were opened… not to speak of protest crowds and other similar happenings.
There seems to be a consensus that those people who have not lost their jobs (perhaps 90% of the population) have plenty of money sloshing around – because they aren’t travelling and aren’t spending it.
And even those furloughed on 80% of 2k/month (the UK number) are often doing well because they are getting paid without incurring travel costs. And a lot of them are doing part time jobs, which is basically fraud but the govt accepts a high level of fraud now in order to prevent an economic collapse. A lot of the grants to businesses and self employed are used up to buy assets while the person carries on working.
So a lot of money is building up in some areas, and this will be used for asset purchase. So I don’t see a collapse in GA prices.
Peter wrote:
And a lot of them are doing part time jobs, which is basically fraud but the govt accepts a high level of fraud now in order to prevent an economic collapse
Not so. From the outset the government made it clear (at least to this employer) that furloughed workers could take temporary jobs whilst furloughed. They were only forbidden from doing work for their existing employer.
There seems to be a consensus that those people who have not lost their jobs (perhaps 90% of the population) have plenty of money sloshing around – because they aren’t travelling and aren’t spending it.
That’s probably true. But lots of districts and even countries are dependent on people travelling. People do spend money though. In Norway the sale of boats has reached all time high, and the same for mobile homes/caravans and outdoor activity stuff.
People don’t spend money on going abroad. Instead it is spent at home. But, that could change any minute. Already, holidays for 2021 are almost sold out.
