Economic pain train's a coming (price, moving, discounts)

[OutdoorLover]

Originally Posted by charolastra00

There's no way that online school is going to become the norm. Maybe some families are finding that it works for their students (whether K-12 or college), but school is about much more than pure education. Parents of younger kids would have to figure out how to balance work (either out of the home or remotely) while enriching their child's social and experiential opportunities that would otherwise happen at school.

Countless families need both parents working to pay the bills (or are single-parent), and the adults don't have the luxury of telecommuting to watch primary and middle-school school-age children who are at home. I can see the argument being made for high schools to be virtual, but I don't think primary and middle-schools should be, for safety reasons alone.

Then there is the whole question of the effectiveness of online learning versus classroom learning. Even for college classrooms, I think physical classrooms are more effective, but that emphasis only goes up as the kids get younger. Teachers can monitor the kids in the physical classroom to see at a glance:
- who is physically present?
- who looks like they are paying attention?
- who looks confused?
...and can immediately adjust their dialogue to address issues when things go off track. These are not "nice-to-haves", this is critical basic situational awareness that is greatly compromised in an online class. I've taught college kids and even at that level, I think it's much better to have them in the classroom with you, forget about 10-yo kids sitting at home...

[lrfox]

Originally Posted by Bridge781

I don’t foresee cities becoming unpopular again either. Boston has certain had explosive growth over the past 20 years though and was hit hard by corona. So was NYC though. I don’t think that will stop people from wanting to live in either place however maybe it’s other US cities turns to experience the huge growth. I think it would be fine for Boston to slow down a bit.

Long term, I don’t think cities will cities will be unpopular either, but I think we will see a minor correction over the next 2 years or so. Between COVID fears making people nervous about crowded transit, unemployment being high (which will reduce the number of people commuting), and an uptick of remote workers, I do think people will probably be a little more car dependent. Again, at least for the next few years. Eventually, traffic will become unbearable again, the pandemic won’t be so fresh, and all of the things that make cities both desirable to many and a necessity for many more will overshadow the fears/reactions.

On a related note, my current car is a former Hertz rental. They make for great deals on lightly used cars. I’d imagine that between tens of thousands of fleet cars becoming available and the general downturn in the economy, the car industry will get hammered. But buyers may do well.

[OutdoorLover]

Originally Posted by lrfox

:
:
On a related note, my current car is a former Hertz rental. They make for great deals on lightly used cars. I’d imagine that between tens of thousands of fleet cars becoming available and the general downturn in the economy, the car industry will get hammered. But buyers may do well.

On balance, the pandemic is clearly a big negative for the American economy. But in any kind of big, complex, heterogenous shift, there will always be those who find opportunities too. I agree that those who buy surplus cars from Hertz's fleet, as well as those who buy used cars whose prices may be depressed by the increased supply, will make out on those transactions.

[BosYuppie]

Originally Posted by OutdoorLover

On balance, the pandemic is clearly a big negative for the American economy. But in any kind of big, complex, heterogenous shift, there will always be those who find opportunities too. I agree that those who buy surplus cars from Hertz's fleet, as well as those who buy used cars whose prices may be depressed by the increased supply, will make out on those transactions.

Do you really want a Nissan Sentra that's been beat to crap and probably had its maintenance deferred? Especially when car dealers are beanding over backwards, leaving stack upon stack of cash on the hood to make deals work on new cars right now?

[OutdoorLover]

Originally Posted by BosYuppie

Do you really want a Nissan Sentra that's been beat to crap and probably had its maintenance deferred? Especially when car dealers are beanding over backwards, leaving stack upon stack of cash on the hood to make deals work on new cars right now?

I just bought a new vehicle 14 mos ago, so I won't be buying one, I don't need another vehicle. But if you're looking to save money on a used car, this is a good time to buy, as prices will be lowered, not only for Hertz vehicles but others as well - it'll be a big surge of supply in the used-car market.

[massnative71]

Originally Posted by BosYuppie

Especially when car dealers are beanding over backwards, leaving stack upon stack of cash on the hood to make deals work on new cars right now?

Not really.

[Shrewsburried]

Originally Posted by massnative71

Not really.

Yes really. Sales are absolute s___ right now and the service departments, which for many dealerships is their primary profit maker, have been struggling as well as mileage is down and people are avoiding unnecessary contact.

April sales were down 53% YoY. Friends in the industry confirm the numbers are very real.

[wolfgang239]

Originally Posted by Shrewsburried

April sales were down 53% YoY. Friends in the industry confirm the numbers are very real.

Yep, got friends in the business as well and they're taking a beatin. Was considering buying out my lease next year because residual values were remaining close enough to be worth it but the impact on used values has already made that a dumb idea. I wish I was in the market for a vehicle right now.

[massnative71]

Originally Posted by Shrewsburried

Yes really. Sales are absolute s___ right now and the service departments, which for many dealerships is their primary profit maker, have been struggling as well as mileage is down and people are avoiding unnecessary contact.

April sales were down 53% YoY. Friends in the industry confirm the numbers are very real.

Originally Posted by wolfgang239

Yep, got friends in the business as well and they're taking a beatin. Was considering buying out my lease next year because residual values were remaining close enough to be worth it but the impact on used values has already made that a dumb idea. I wish I was in the market for a vehicle right now.

OK then mind telling me who these dealers are that are making all these amazing deals? Sure sales are way down, but likewise the factories have shut down and there is an inventory shortage going into the summer. I have been in contact with dealers throughout MA, ME and NH; and while they are all crying a river at the current situation they all seem hesitant to give much beyond the regular rebates which have always been available in some capacity. Even on the leftover 2019s where you would think they'd be very anxious to rid their lots of at this point...meh, maybe an extra $1500 off. One friend in the industry says it may be a few months before it really starts trickling down to the consumer, but who knows really. The factories are going to have a hard time catching up when things reopen, and dealers may be hesitant push their vehicles.

[sawyer2]

The auto industry was already skating on thin ice right before any of this happened - huge amount of subprime loans, serious delinquencies and outstanding balances at all time highs.

Will be interesting to see how this shakes out.