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But a lot of tourists will rent a car

But there will be a lot fewer tourists in a Great Depression.

And... regarding the business travel, lot less of that in a Great Depression, also.

There's another thing about the business travel. I worked in a department of Road Warriors for several years, was even one of them myself. I suppose there are shallow and superficial types who enjoy being one of those, but I never met one yet. Businesses and their employees are becoming accustomed to video conferencing. So, even when the travel restrictions are lifted, there's going to be less business travel for meetings. I think, just like with the airlines, big car rental outfits made most of their money from business travelers, not leisure travelers.

Too late, comrade.

B.A.C.A.H. says

I think, just like with the airlines, big car rental outfits made most of their money from business travelers, not leisure travelers.

I think the peak for cruise ships was back in 2017. I don't think we'll see those levels for another 10 years. I bought Royal Caribbean when it was down about 80% and Carnival when down about 90% from all time high or peak.

I figure they'll bounce back some and engage in major streamlining and cost cutting in all industries like cruise ships, airlines, resorts, hotels, etc..

I bought the etf JETS when it was around $13.45. Its peak was around $35 in early 2018. I think for airlines the peak ridership and earnings was in 2019.

I don't think we'll see those airline passenger levels for at least another 5 years.

Wait... now the Democrats are worried about Russia simply giving Republicans “advise” about how to win? Man those Russians must be suuuuuuuper geniuses! How are they so fucking smart that simply giving a candidate ADVICE is enough to swing an election? I mean, candidates have all sorts of domestic advice coming in, but apparently Russian advisers are far and away the smartest fellers in the game! Who knew? And if it were true (no evidence presented for this contention in the article), what’s to stop politicians from hiring these clearly superior Russian advisors?

This is really pathetic.
Democrats and their captive media truly are sissy pantywaists.

Dholliday126 says

Prediction: antithetical, but housing will go higher after this. 4 trillion will be inflationary, just like the bailouts of 2009.

Who are the only ones screwed since 2009? Savers that rent. I suspect it'll be the same after all this monopoly money makes it's way through the system.

I’m hoping this is true. Inflation is a great deal for asset owners and debtors. Whenever you can see your investment value rise while your debt value falls, you’re winning.

And Biden has been co-opted.

Marcus fundamentally misunderstands conservatives. He thinks that if the Democrats stop oppressing us, we will be sad that we don’t have anything to gripe about. While that is true for Leftists, and they thrive on feeling oppressed, conservatives mostly just want to be left alone to live our lives in peace. Thanks for the free trial of totalitarianism, but we’d like to return the product and get our money back.

Shaman says

we’d like to return the product and get our money back.

All sales are final! No Refunds!

Fat slobs can cut back on meat consumption, eat tofu and embrace their feminine side.

Shaman says

Dholliday126 says

Prediction: antithetical, but housing will go higher after this. 4 trillion will be inflationary, just like the bailouts of 2009.

Who are the only ones screwed since 2009? Savers that rent. I suspect it'll be the same after all this monopoly money makes it's way through the system.

I’m hoping this is true. Inflation is a great deal for asset owners and debtors. Whenever you can see your investment value rise while your debt value falls, you’re winning.

Fixed price contracts really fuck people over though. Rents can’t be raised, government capped them. So people with rentals are gonna get fucked hard.

Government asks people to rent to deadbeats, limits rent increases on deadbeats, makes them not pay rent. Sooner or later CA will have nothing but hobo paradise here and all productive people will leave the state.

Shaman says

Prediction: antithetical, but housing will go higher after this. 4 trillion will be inflationary, just like the bailouts of 2009.

.

That is what I am hearing from a friend who represents the Mises Institute, a libertarian think tank.

He is saying that it will be asset price inflation AGAIN (ie.., housing, stocks, etc.), and we will not see significant inflation with gasoline, food, clothing, etc.

WSJ reports housing prices are going up :
https://www.wsj.com/articles/why-home-prices-are-rising-during-the-pandemic-11588671002

.

Ultimately the true measure of inflation and quality of life is based largely on home price to household income ratio. I still was able to get a mortgage in summer 2016 with a home price that was 5 times my income because I had a 30 year mortgage fixed rate of 3% with no discount points.

https://www.longtermtrends.net/home-price-median-annual-income-ratio/

Shaman says

Marcus fundamentally misunderstands conservatives. He thinks that if the Democrats stop oppressing us, we will be sad that we don’t have anything to gripe about. While that is true for Leftists, and they thrive on feeling oppressed, conservatives mostly just want to be left alone to live our lives in peace. Thanks for the free trial of totalitarianism, but we’d like to return the product and get our money back.

Fact check: True

www.youtube.com/embed/4KnAzpi4avo

When I bought my house I had to finance what was about 3 times our annual income. Now thanks to raises and paying down some principle, it’s merely 2 times our income. The house is much more affordable now even though (thanks to tax increases due to rising property values) our payment has gone up about $75. I’m thinking seriously of refinancing shortly if I can drop my rate by a percentage point.

Shaman says

When I bought my house I had to finance what was about 3 times our annual income. Now thanks to raises and paying down some principle, it’s merely 2 times our income. The house is much more affordable now even though (thanks to tax increases due to rising property values) our payment has gone up about $75. I’m thinking seriously of refinancing shortly if I can drop my rate by a percentage point.

Same here I'm right at 3x and just refinance but shaved 3 years off instead of lowering payment. Good time to refi.

Shaman says

When I bought my house I had to finance what was about 3 times our annual income.

3x is very strict standard by the bank. Here in the Florida panhandle the banks are financing mortgages that are up to 5x household income.

Granted the homes are in the $180,000 to $300,000 price range.

BTW, I read that Wells Fargo has stopped taking HELOC applications.

With his latest announcement Gavin Newsom has become the leader of the fake grassroots "reopen" movement.

Gavin does not like the way the naught children are talking. WE will have the new normal that he decides. Of, course, Gavin has no idea what this thing called normal is about.
https://www.sfgate.com/bayarea/article/Gavin-Newsom-California-reopening-retail-15248542.php

The money has disappeared from the stock market already.

Those who didn’t invest never had anything to complain about, taxes on my dividends and interest paid for their food stamps, earned income credit (free cash per kid), health care, etc.

I once started a business but I didn’t roll the dice with my entire net worth like an idiot.

Those who have not are dumber or had poorer judgement than most of the haves.
Some haves are lucky and inherited things, I know some of them.

But I know many more who just hate to save and invest money, it’s as if they were allergic to having money.

Tough shit for them.

Interesting things are definitely going to happen.

Had to stop at the local Walmart today. It was PACKED. Just goes to show you how unethical this lockdown is. I can go to a packed Walmart to buy art supplies but I cant go to the tiny local art store to buy art supplies. The disproportionate hit to small businesses is criminal.

— Amanda (@AmandaPresto) May 4, 2020

BTW, I read that Wells Fargo has stopped taking HELOC applications.

Good. Now end "reverse" mortgages and shorten the max term of gov backed from 30 to 20 years.

No HELOCs? This will have a ripple effect on plastic surgery and monster truck sales.

Only reason they would stop these is they believe equity factoring will drop.

Ceffer says

No HELOCs? This will have a ripple effect on plastic surgery and monster truck sales.

Only reason they would stop these is they believe equity factoring will drop.

Even if they figure a disastrous +30% drop in home prices, they can still take HELOC applications for those who owned their homes outright and with no mortgage.

jazz_music says

There is damning evidence.

Russian collusion? Really? Nancy is really losing it.

Pathetic.

Daily new cases have been trending down pretty much every day, so have deaths with exceptions like today. It's normal to see a rise in states that have not been affected much prior, doesn't necessarily mean the lockdown or lack thereof is responsible for it. In each area eventually the virus will follow the same curve and those hardest hit are those to come down fastest as well. As long as hospitals aren't overloaded states should be open for business, the daily case rate is largely irrelevant at some point where enough have been exposed. Remember exposed doesn't mean actively infected so the exposure is largely much higher and will eventually provide herd immunity.

This post sponsored by Popeyes Louisiana Kitchen.

www.youtube.com/embed/yMzyleT2FqY

The real result of gov backed 30 year mortgages, equity loans, and reverse mortgages is to inflate the costs of homes and make the general population into debt slaves for a handful of banks. We would be far better off with a common goal of everyone owning their main residence outright by age 45 or so. Houses would be less expensive and people would have more money for other endeavors. Only the banks would lose.