The economic impact of Covid-19

[chrisp65]

3 hours ago, Genie said:

Every business is about maximising profit.
Most businesses move with the times and adapt. Parcel pickup from home, more drop off locations, delivery windows, late deliveries, good tracking, competitive pricing... RM are crap at almost all of that in my experience.

I’m not sure what the relevance of the Nissan driver is.

I know plenty of people that have tried working for delivery companies. Be it putting company livery on their own van, renting a company van, having a company van from the pool, or yes, using the family car.

Getting up at stupid o clock, waiting, driving, waiting, driving, then realising at the end of a long day they’ve actually made £13.60.

Loads of those companies will get a parcel to Basingstoke quicker than Royal Mail. Because if there is one driving thing that is absolutely vital for all our well being and employment satisfaction, it’s getting a pack of four car sponges to Basingstoke absolutely as fast as possible whilst paying as little as possible. 

That’s the relevance of the Nissan driver.

 

[Sid4ever]

1 hour ago, blandy said:

 

My postie is great though.

So’s ours the 2 dogs love him, they wait for him every morning to get a bite of the treats he has in his pocket for them.

[bickster]

On 10/06/2020 at 14:19, Demitri_C said:

Id agree with this. Prices haven't dropped here yet. Not really seeing the effects here yet barring job losses

House prices may not have dropped yet but my daughter tells me the choice of rental property in London right now is much bigger than normal and rentals are coming down. She's just asked her Landlord if they can be released from their current contract (due to one of the three being unemployed) but her and her boyfriend can find much better flats for less money right now that they could 9 months ago.

[Demitri_C]

1 hour ago, bickster said:

House prices may not have dropped yet but my daughter tells me the choice of rental property in London right now is much bigger than normal and rentals are coming down. She's just asked her Landlord if they can be released from their current contract (due to one of the three being unemployed) but her and her boyfriend can find much better flats for less money right now that they could 9 months ago.

Yeah i could believe that as my friend eho works in lettkngs has told me of similar situations he is dealing with with renters. 

Landlords are getting desperate and are willing to go lower just so they get income coming in.

[HanoiVillan]

Yes, that sounds plausible. You would expect the effect on house prices to have less to do with the pandemic, and more to do with the longer-term economic situation.

I am not renewing a rental contract because I can live in my grandparents' house (my grandfather passed not long ago). This is less because that's a better situation, than because my contract is up at the end of September, I don't think it will be renewed, and then I expect there will be nobody hiring in my industry.

Wherever we are in the medical crisis, we've barely started the economic crisis.

[Chindie]

The recession on the way is going to be grim. The insurance industry is putting the brakes on hard., big names are pulling out of whole lines of cover, abandoning sectors etc etc in the expectation of a very hard economic hit on the way.

[Mandy Lifeboats]

I live in a rural area and house prices are rising fast.  A house in my street went on the market  2 weeks ago at £365k . That was met by several buyers and it's now £395k.   The estate agent tells me that are seeing people from the city wanting to move away. I suppose it makes sense. With increased working from home people who have been stuck in a city centre flat for 3 months are reassessing quality of life. 

[Xela]

21 hours ago, Mandy Lifeboats said:

I live in a rural area and house prices are rising fast.  A house in my street went on the market  2 weeks ago at £365k . That was met by several buyers and it's now £395k.   The estate agent tells me that are seeing people from the city wanting to move away. I suppose it makes sense. With increased working from home people who have been stuck in a city centre flat for 3 months are reassessing quality of life. 

I would imagine people also don't want to live in city centres as most are shitholes now! Plus you don't want to be in the city centre when the shit finally hits the fan. 

[Demitri_C]

21 hours ago, Mandy Lifeboats said:

I live in a rural area and house prices are rising fast.  A house in my street went on the market  2 weeks ago at £365k . That was met by several buyers and it's now £395k.   The estate agent tells me that are seeing people from the city wanting to move away. I suppose it makes sense. With increased working from home people who have been stuck in a city centre flat for 3 months are reassessing quality of life. 

Its happening in the area i am looking as well. Prices are nit dropping like they telling us.

 

[tinker]

Its alright living in the sticks while you are healthy and wealthy and or public services are funded reasonably well. The first bus services doctors, dentists, shops to go will be the ones that havent got a viable business and they are the ones in remote areas. 

Its best to wait this out and see how things go before making any moves imo. Rentals prices in my area , B36, appear to be rising but its to early to say if this is a short term blip or a demand led increase. 

[sne]

Looks like Broadway in N.Y will be closed for the rest of the year. That's a lot of shows and people affected.

[KenjiOgiwara]

Seems the world financial markets are blowing themselves up for a massive crash. 

Nobody obviously knows when, but I'd be vary about putting anymore money in the next 2 years. Just not seeing the fundamentaks here anymore. It will get ugly and small retirement savers will be stuck with it. 

[Xela]

23 minutes ago, KenjiOgiwara said:

Seems the world financial markets are blowing themselves up for a massive crash. 

Nobody obviously knows when, but I'd be vary about putting anymore money in the next 2 years. Just not seeing the fundamentaks here anymore. It will get ugly and small retirement savers will be stuck with it. 

My shares have already tanked 50% this year plus they're not paying out any dividends. Luckily i'm in for the long haul so can afford to wait it out

[Sam-AVFC]

22 hours ago, Mandy Lifeboats said:

I live in a rural area and house prices are rising fast.  A house in my street went on the market  2 weeks ago at £365k . That was met by several buyers and it's now £395k.   The estate agent tells me that are seeing people from the city wanting to move away. I suppose it makes sense. With increased working from home people who have been stuck in a city centre flat for 3 months are reassessing quality of life. 

Am I right in thinking you're South West or have I imagined that? I'm just about to move back and this is not news I need to hear!

[Davkaus]

I am doubting the "time in the market, not timing the market" mantra right now. As well as my pension, I drip feed a few hundred a month into a global index fund. I'm very tempted to pull out (fnar) in the face of what seems a certain recession, if not depression, but I know the evidence is that people lose money trying to do this.

[Xela]

6 minutes ago, Davkaus said:

I am doubting the "time in the market, not timing the market" mantra right now. As well as my pension, I drip feed a few hundred a month into a global index fund. I'm very tempted to pull out (fnar) in the face of what seems a certain recession, if not depression, but I know the evidence is that people lose money trying to do this.

Perfect time to double down and pile more in  Most index funds have recovered a fair bit from the March lulls. 

Who do you use? Vanguard Life Strategy? HSBC Global Strategy?

[KenjiOgiwara]

9 minutes ago, Xela said:

My shares have already tanked 50% this year plus they're not paying out any dividends. Luckily i'm in for the long haul so can afford to wait it out

If they've tanked 50% and not recovered your unlucky with your sectors. I assume you're into heavy leveraged companies. Spesifically oil service and airlines? 

You're not alone though. I lost a **** ton on oil service. 

I think however there's more to come the next few years. I'm hugely sceptical to the projected growth at this point. 

[Genie]

I’m not even gonna look at my pension pot, it’s probably a horror show.

[KenjiOgiwara]

9 minutes ago, Davkaus said:

I am doubting the "time in the market, not timing the market" mantra right now. As well as my pension, I drip feed a few hundred a month into a global index fund. I'm very tempted to pull out (fnar) in the face of what seems a certain recession, if not depression, but I know the evidence is that people lose money trying to do this.

Tbh mate, if your horizon is 20-30 years just stick them in and forget. 

It's impossible to time the market. 

[Davkaus]

5 minutes ago, Xela said:

Perfect time to double down and pile more in  Most index funds have recovered a fair bit from the March lulls. 

Who do you use? Vanguard Life Strategy? HSBC Global Strategy?

I'm with Vanguard, the fees are dirt cheap going direct.

I'm back in profit after the March dip, so not feeling too pessimistic, there's a greedy part of me reckoning I could take it all out, drop it back in within a few weeks and make a killing. Then there's the part of my brain that's not a greedy idiot.