There was an article about a week ago of Hawaii locals telling tourists to get lost. I guess they got their wish. Now, they have no problems of tourists overruning their beaches. No tourism dollars to them either. It only gets worst from here on in.
The Path to Recovery: How to Re-Open America
- Thread starter gwb-trading
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There was an article about a week ago of Hawaii locals telling tourists to get lost. I guess they got their wish. Now, they have no problems of tourists overruning their beaches. No tourism dollars to them either. It only gets worst from here on in.
Still if you go to Hawaii today you are placed in quarantine for 14 days before being allowed out. Things are not going to improve for tourism for a while.
So, go on vacation and be locked down for 14 days? Thanks. I will pass.
That's the problem..... same if you fly into many countries right now. Go there and get locked down for the first two weeks.
yeah, sure. Lets see how long this rule stays in place at locations 100% dependent on tourism for survival.
Just a little tidbit from my neck of the woods. We just sold our home last month. We had 3 offers in less than 36 hours and sold it for more than it was listed for. Homes sell and are still selling like hotcakes here in Northwest Indiana, mostly to people escaping the Illinois taxes. New construction is also hot and heavy. Yes, real estate is all in the location but here it hasn't slowed a bit. Closing was a little weird. Everyone in their cars with paperwork handed to us. Kinda crazy. All banking and the entire loan process done on line. Never went into a bank or realtor office. 3.3%, who can complain? Now all I have to do is get used to Townhouse living. Nice place, but after decades in a single family home it seems small. I know this, if I ever move again which is unlikely, I am not taking a single thing with me. Moving sucks. Remodeled two bathrooms and painted our old place, now painting this place. WTF? Too old for this and I'm not even doing it. Watching these guys makes me tired.Funny thing is that 2 real eatate agents I spoke with in my area said they are really busy and houses are receiving bids way over asking price. Interest rates are really low and our general area still has lots of people employed for the most part (except our poor fellow restaurant and service workers) so the housing market has been well above average.
With the fact that you can do virtual open houses or schedule tours with empty homes and avoid contact makes it easy to go out and about.
Obviously real estate is based on location so will not be the same everywhere but people who were already planning to move/buy a home in teh Spring which is a popular time are doing it in large numbers in many areas.
Many Caribbean islands are in a tough spot since they are closed for COVID-19 but are nearly totally dependent on tourism. Once planes start flying again as worldwide conditions improve they will have a difficult decision to make regarding opening up versus the potential risk for COVID-19 coming in with tourists -- especially since many of the islands have poor healthcare systems.
Just a little tidbit from my neck of the woods. We just sold our home last month. We had 3 offers in less than 36 hours and sold it for more than it was listed for. Homes sell and are still selling like hotcakes here in Northwest Indiana, mostly to people escaping the Illinois taxes. New construction is also hot and heavy. Yes, real estate is all in the location but here it hasn't slowed a bit. Closing was a little weird. Everyone in their cars with paperwork handed to us. Kinda crazy. All banking and the entire loan process done on line. Never went into a bank or realtor office. 3.3%, who can complain? Now all I have to do is get used to Townhouse living. Nice place, but after decades in a single family home it seems small. I know this, if I ever move again which is unlikely, I am not taking a single thing with me. Moving sucks. Remodeled two bathrooms and painted our old place, now painting this place. WTF? Too old for this and I'm not even doing it. Watching these guys makes me tired.
Congrats.
Actually yhe last condo I bought the owner was out of town so we did a paper closing by signing fedexing documents so it shoudl be easy to do closing with minimal contact or personnel.
I think people know the difference between a true housing market crash and a virus causing an issue that is easier to remedy that a fundamental or structural failure in the market. I think if there is any gradual opening the housing market will continue as is driven by super low rates.
This is why we will fail at re opening
We're going to St. Martin in August. Neither the tourism administration in St. Martin nor the agency on the islands expects a hold out that long. As it is, right now they're calling this another "hurricane" and saying 25% unemployment if it continues.
At this point they have 39 cases and 3 deaths on the whole damned island. If they close the island for the remainder of the summer over this, they might as well all put guns to their head and pull the trigger until it goes "click". Total suicide pact.