CSNbbs

This is an anonymous poll

As much as possible, we all need to keep putting money into the economy, especially local businesses.

It's a catch-22 and a ripple effect.

Folks spend less money >> folks lose jobs >> folks save and reduce expenditures >> more folks lose jobs >> so on and so on

While this poll is interesting, it likely doesn’t reflect the bigger picture of society at large. People posting here are more likely to have college degrees and jobs where remote work is a viable solution.

Being in construction, my main office is working from home but i still have to go into the city to manage the jobs that are still ongoing since the construction of luxury residences is considered "essential"

Even with a reduced mancount there are still over 200 guys onsite so it's definitely only a matter of time until I get it

(03-25-2020 10:50 AM)fishingduke12 Wrote: [ -> ]Being in construction, my main office is working from home but i still have to go into the city to manage the jobs that are still ongoing since the construction of luxury residences is considered "essential"

Even with a reduced mancount there are still over 200 guys onsite so it's definitely only a matter of time until I get it

Those homes selling is essential.

New home construction is going to be a key component to keep the economy salvageable. Not only because of all the trades and industries it supports, but because it's so hard to make up lost traction. Someone either buys a car or they don't. They can decide to buy one the next day or next week on a whim.

Housing is not only dependent on the timing and buyer's ability to pay (assuming they still want to purchase, still can afford, still have a job, etc) but that purchase is often predicated on that buyer having a home to sell, and the buyer of their home's ability to purchase and very often sell their house.

I'm sure there are single home purchases that are dependent on half a dozen other home purchase dominoes falling just so it can happen. Just one of those dominoes falls through and a whole chain of transactions needs to start over. I know there's a lot of risk and anxiety involved, but it's critical these buyers go through whenever feasible. In the case of corporate relocations, large companies should buy homes that don't sell.

Mr. OTP is working from home as usual but company sales are somewhat down. I'm retired but a member of an artist co-op. Our store is closed at present so no sales :-(

(03-25-2020 11:07 AM)2Buck Wrote: [ -> ]

(03-25-2020 10:50 AM)fishingduke12 Wrote: [ -> ]Being in construction, my main office is working from home but i still have to go into the city to manage the jobs that are still ongoing since the construction of luxury residences is considered "essential"

Even with a reduced mancount there are still over 200 guys onsite so it's definitely only a matter of time until I get it

Those homes selling is essential.

New home construction is going to be a key component to keep the economy salvageable. Not only because of all the trades and industries it supports, but because it's so hard to make up lost traction. Someone either buys a car or they don't. They can decide to buy one the next day or next week on a whim.

Housing is not only dependent on the timing and buyer's ability to pay (assuming they still want to purchase, still can afford, still have a job, etc) but that purchase is often predicated on that buyer having a home to sell, and the buyer of their home's ability to purchase and very often sell their house.

I'm sure there are single home purchases that are dependent on half a dozen other home purchase dominoes falling just so it can happen. Just one of those dominoes falls through and a whole chain of transactions needs to start over. I know there's a lot of risk and anxiety involved, but it's critical these buyers go through whenever feasible. In the case of corporate relocations, large companies should buy homes that don't sell.

These arent homes that the average person buys. The cheapest unit is 6 million for a studio. A quadplex sold for 238 million...

The people that buy these are not your typical buyer so while i get your domino effect it does not apply to much of Manhattan construction. Hospitals, schools, infrastructure absolutely need to continue. In fact many of those jobs are in overdrive at the moment

These ultra high end condos are not essential. The only valid reason i can see to keep these jobs going is to keep thousands of workers employed

(03-25-2020 09:52 AM)JMURocks Wrote: [ -> ]While this poll is interesting, it likely doesn’t reflect the bigger picture of society at large. People posting here are more likely to have college degrees and jobs where remote work is a viable solution.

It might change the longer this goes though!

I am an Operations Manager for 20+ staff and my company of 55 employees have all taken a 20% cut until revenue returns. If anyone needs print, direct mail, promotional product and or fulfillment, please message me. Any companies/schools that need packets or work from home packages for their employees are who we're trying to make up revenue with. Let me know if I can help! (or you can help me).

(03-25-2020 12:13 PM)fishingduke12 Wrote: [ -> ]These arent homes that the average person buys. The cheapest unit is 6 million for a studio. A quadplex sold for 238 million...

Ahhhh, I just realized you're talking about the $238M apartment that Ken Griffin bought. I work in the same building as he does here in Chicago (the Citadel Building), and see him every few weeks or so when enters/exits the building with his massive security team. It's fascinating to observe.

(03-25-2020 09:52 AM)JMURocks Wrote: [ -> ]While this poll is interesting, it likely doesn’t reflect the bigger picture of society at large. People posting here are more likely to have college degrees and jobs where remote work is a viable solution.

Nope you are correct. I wonder if many really know how bad it is on here? That is why I made the poll.

We've had to layoff over 270 of our 500 domestic employees the last week. And we still have a lot more to do. Pretty painful situation for all concerned. Sadly we're not done. Our goal is to get down to survival mode so when business picks back up we will still be around to bring back the team. I'd like to believe the moves we make will be proactive enough. There will be more businesses go under over the next couple months than in any of our lifetimes.

If you are are in the hotel, restaurant, movie, hair, bar, industries in the Metro Washington area, you likely don't have a job.

In downtown DC - hotels, restaurant, and bar industries count for 16% of employment. You can assume those three segments alone will account for 14% unemployment alone in the nation's capital.

While many are working from home, I seriously believe unemployment will be in the 25-35% within the next 6 weeks if things stay the same. I can't imagine within the next two weeks we won't see at least 15% unemployment.

Amazing how quickly things can change.......

(03-25-2020 01:31 PM)chicagoduke Wrote: [ -> ]

(03-25-2020 12:13 PM)fishingduke12 Wrote: [ -> ]These arent homes that the average person buys. The cheapest unit is 6 million for a studio. A quadplex sold for 238 million...

Ahhhh, I just realized you're talking about the $238M apartment that Ken Griffin bought. I work in the same building as he does here in Chicago (the Citadel Building), and see him every few weeks or so when enters/exits the building with his massive security team. It's fascinating to observe.

You should see the metal plating he lined his floors with in the building lol

(03-25-2020 02:55 PM)fishingduke12 Wrote: [ -> ]

(03-25-2020 01:31 PM)chicagoduke Wrote: [ -> ]

(03-25-2020 12:13 PM)fishingduke12 Wrote: [ -> ]These arent homes that the average person buys. The cheapest unit is 6 million for a studio. A quadplex sold for 238 million...

Ahhhh, I just realized you're talking about the $238M apartment that Ken Griffin bought. I work in the same building as he does here in Chicago (the Citadel Building), and see him every few weeks or so when enters/exits the building with his massive security team. It's fascinating to observe.

You should see the metal plating he lined his floors with in the building lol

I'd say a couple hundred million put into the economy from a few home purchases is pretty important.

I used to really balk at the elite throwing million dollar birthday parties for their kids and other gaudy displays of wealth, until years ago I read a response by Marilyn vos Savant to one of her reader's questions. She said as tasteless or ego-driven as these kinds of expenditures are, it's better they go into something that employs lots of people, instead of either being stuffed into a mattress or spent on something that may not make it's way back into the general economy because it's just going to another rich person (spending millions on a painting or faberge egg).

Another category is needed. I'm told to stay home untill April 5. Not working yet paying full wages as though I were to be on vacation.

I work for a continuing care community.....so work hours as usual and more here.

We started encouraging employees to work from home March 9. By the 19th we closed the office. Nobody should be commuting into the city right now if there’s any alternative.

CPA here, working from home, still pushing to finish things by the original April 15th deadline. My firm closed the office to clients and are encouraging employees to work from home. A few people are still going to the office to work though.

I'm using the slow down to paint the new office I will be moving the company to the end of August. Real Estate market is still good. We are still open, but I instituted safety measures for clients and agents. Most of our agents are working from home.

Mr. OTP was on a con call with his entire (California-based) company yesterday. They were informed by their governor that the business is deemed "essential"--it is, dealing as it does with so many institutions of learning, from K-12 to higher, who are all scrambling with new distance learning procedures--and to forge ahead. This was good news indeed.

My company is 100% remote work when we are not traveling, but producing live events was 40% of our business. We will get clobbered if travel bans aren't lifted before the end of the summer and people don't actually travel to industry conferences. We have already cancelled/postponed several events.

I have been home shored for about 8.5 years so pretty much business as usual for me at this time but the field people we have all over the US and the world are greatly restricted.