I, for one, look forward to flying again, though I doubt many of us will do as much as we did in the past.
Large conventions, which require months of planning and preparation, certified gold exchange won’t return until late 2021, at best. (My Strategic Investment Conference, set for May 4 through May 14, will be held online for the second year in a row.)
Even beyond that, I bet future in-person events be smaller.
This is bad news for that industry and entire cities, like Las Vegas, that depend on those big tourism dollars.
Second, these changes will cascade
through the economy.
When a restaurant or hotel closes, its
workers, suppliers and landlord suffer,
The impact on commercial real estate has
barely started but I think will be gigantic.
The post-pandemic economy will need
fewer shopping malls, retail strip centers,
hotels and office buildings.
At the same time, we’ll see higher
demand for warehouses and shipping
It will all sort out but will take time. And
there will be losers.
As for housing, close to 40% of rental
homes and apartments in this country are
owned by small investors who now have
Are they better off working with distressed
tenants, particularly when stable tenants
are in short supply?
As I’ve said since this pandemic started,
the world is going to be repriced.