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Are our lives forever changed due to Coronoavirus?

Bailey#1

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Yes, for now on the world will take every threat of another pandemic very seriously. Life will get back to normal but there will always be a threat now.
 
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turkel

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The one thing I hope changes permanently is our massive out sourcing . We need to make our own essentials. We need to manufacture our own medicine and medical equipment.
But few seem to be talking about this. It certainly would bring more jobs.
 

heathpack

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The one thing I hope changes permanently is our massive out sourcing . We need to make our own essentials. We need to manufacture our own medicine and medical equipment.
But few seem to be talking about this. It certainly would bring more jobs.

Having more manufacturing in the US would be expensive- good would cost each of us more. But hopefully the American consumer will get to a place where we see that as an investment that protects us against global disruptions.
 

WalnutBaron

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Having more manufacturing in the US would be expensive- good would cost each of us more. But hopefully the American consumer will get to a place where we see that as an investment that protects us against global disruptions.
While I certainly support this aspiration, I doubt it will take place--even after all of the fear and suffering from this pandemic subsides. On our farm, we grow healthy foods--walnuts, almonds, and olives for oil. For many years, we considered pulling our olive trees because we couldn't make any money, even though our production methods are among the best in the world. The reason we could not make money is because American consumers were buying less expensive olive oil made in Greece, Italy, and Spain. The Europeans were "cutting" their oil with cheaper safflower, palm, and canola oils but labeling them as "Extra Virgin". California and Australian growers--with the help of researchers and scientists at University of California Davis and universities in Australia--developed a test to determine the actual content of oils being sold in supermarkets. The research showed that as much as 80% of all imported olive oil into the U.S. was adulterated. The Europeans, however, fought back by dumping oil into the U.S. market to try to drive out California growers. European oil was being sold at prices about 40% lower in price than California oil. In spite of California growers' efforts to advertise and educate consumers, many growers simply could not achieve profitability on their olive groves and pulled them out. In our case, we reasoned that consumer education would work if we were patient, and the reduced supply from California would result in higher prices to the growers. Our patience paid off, and we're now making money on olive oil. Regardless, we believe the main reason for the change in market conditions is due to consumer education and not because consumers are motivated to "buy American".

By the way, for anyone interested in learning more about the olive oil wars, I commend to you this book: Extra Virginity--The Sublime and Scandalous World of Olive Oil by Tom Mueller.
 

JudiZ

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Last week, a friend and I discussed just this topic. While we remembered all of the events people have already mentioned, we agreed that this was like none of those. This is cutting a swath through life no matter who you are, no matter where you live. If it hasn't directly upended your life (my grandson currently attends Nonni School at my kitchen table), it has certainly changed the way we think about getting the necessities of life like food and medicine.

I can say that after Katrina, we never had less than two weeks of accessible food and water (exception being last year when we lived in an apartment between houses but even then we had a week) and we usually have far more than that. We are fortunate to live in a country that if one can afford it, one can get access to food virtually 24/7/365.

My husband has worked remotely for most of the past ten years; he is one of only a handful because his company in Denver and we live in NH. His co-workers really dislike working remotely. It is absolutely a paradigm shift and one that many simply can't/don't want to make. Our grandson's mother (she is a project manager in a medical manufacturing company) has worked a few days remotely and says it is unworkable for the long term. It should be interesting to see how this will work out in the long run. Most companies that don't have workers working remote prefer it that way for many reasons, not the least of which is the warning my husband's CEO sent out before they went remote. It said, in effect, that workers who were not working when they should be would be fired. That lack of supervision by management is one of the reasons that I am not convinced that there will be a wholescale change.

As for "snow days," I, as a former teacher think I can speak for the majority of teachers when I shout, "Amen!" Snow days are awful for students and teachers - we lose the day but we also lose a portion of the day to student distraction the day before and sometimes even the day after (depends on the length of the day). In the past at my school, we were discourages from giving at home work (particularly computer based) for any number of reasons. Never made sense to me and now we will know for sure what happens with remote learning. This, I fear, is not going to be the best example given its length, particularly for elementary grades where the laying down of basics requires a lot of face-to-face personalization.

WalnutBaron, I loved your telling of your experience (as well as your book recommendation) and agree that Americans have short memories and won't recall that they vowed to "buy local" or "buy American." For those of us who do this already, we embrace the importance for many reasons and I don't think that most folks will remember/reconsider when they realize that it will cost them a bit more. Doesn't matter that the price is well worth it, they likely will once again be lured away by short sighted pricing.

As for economics, it seems to me that this is a unique situation and one that will be difficult, if not impossible, to predict. A recession would seem most likely but I also am already hearing a great deal of pent up demand building. Only time will tell.

What I am convinced has been a positive impact is that people recognize the positive impact of human connections. We have dinner with our friends of 30 years every two weeks like clockwork. This was the friend I mentioned at the beginning. We cancelled last week and, although it seems like a trivial amount of time, we really do miss them. And I miss seeing my daughter, who is pregnant, has asthma and is self-quarantining. I imagine there are others feeling the same way. I was a history teacher and I assure you that we never really learn lessons from history but I do know we learn emotional lessons much better. I am hoping we learn something positive from this.

This started out being my 2 cents worth and ended up being more like 12. My grandson is taking his lunch and recess break and I, for one, have a new and profound respect for his teacher, his paraprofessional and special ed teacher. I always appreciated them but this is far more difficult than high school ever was.

Best,
Judi
 

mpizza

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I was on a conference call this morning with the National Association of Realtors and the question came up as it relates to home ownership.

The optimistic forecast is that home buyers will again look to buy larger homes with a dedicated home office, gym and play areas, nanny suites for child care, in-law suites to bring Mom/Dad home to care for, large yards with pools, etc.

Also that demand for second homes in locations within driving distance to cities will surge - why not work for a few weeks from your lake, country or beach home?

Maria
973-902-2843
 

TravelTime

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I was on a conference call this morning with the National Association of Realtors and the question came up as it relates to home ownership.

The optimistic forecast is that home buyers will again look to buy larger homes with a dedicated home office, gym and play areas, nanny suites for child care, in-law suites to bring Mom/Dad home to care for, large yards with pools, etc.

Also that demand for second homes in locations within driving distance to cities will surge - why not work for a few weeks from your lake, country or beach home?

Maria
973-902-2843

What did they say about the impact of the recession (possible depression) on home buying?
 

mpizza

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What did they say about the impact of the recession (possible depression) on home buying?

They expert opinion is that this is not anything like 2008 housing crisis when homeowners were underwater and it took years for the unwinding if the loss. They felt this is a temporary softening, but we have a strong underlying economy.
 

CalGalTraveler

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I was on a conference call this morning with the National Association of Realtors and the question came up as it relates to home ownership.

The optimistic forecast is that home buyers will again look to buy larger homes with a dedicated home office, gym and play areas, nanny suites for child care, in-law suites to bring Mom/Dad home to care for, large yards with pools, etc.

This makes sense. Many companies will re-think work especially for office professionals and education. The Silicon Valley has been down this path for a while so adapting to SIP is not a big deal. I know many executives who work out of their homes and have teams all over the USA and internationally. Many tech companies closed their remote sales offices and asked their employees to work from home to save on commercial real estate costs. More companies will follow this trend so home offices will become essential.
 
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heathpack

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While I certainly support this aspiration, I doubt it will take place--even after all of the fear and suffering from this pandemic subsides. On our farm, we grow healthy foods--walnuts, almonds, and olives for oil. For many years, we considered pulling our olive trees because we couldn't make any money, even though our production methods are among the best in the world. The reason we could not make money is because American consumers were buying less expensive olive oil made in Greece, Italy, and Spain. The Europeans were "cutting" their oil with cheaper safflower, palm, and canola oils but labeling them as "Extra Virgin". California and Australian growers--with the help of researchers and scientists at University of California Davis and universities in Australia--developed a test to determine the actual content of oils being sold in supermarkets. The research showed that as much as 80% of all imported olive oil into the U.S. was adulterated. The Europeans, however, fought back by dumping oil into the U.S. market to try to drive out California growers. European oil was being sold at prices about 40% lower in price than California oil. In spite of California growers' efforts to advertise and educate consumers, many growers simply could not achieve profitability on their olive groves and pulled them out. In our case, we reasoned that consumer education would work if we were patient, and the reduced supply from California would result in higher prices to the growers. Our patience paid off, and we're now making money on olive oil. Regardless, we believe the main reason for the change in market conditions is due to consumer education and not because consumers are motivated to "buy American".

By the way, for anyone interested in learning more about the olive oil wars, I commend to you this book: Extra Virginity--The Sublime and Scandalous World of Olive Oil by Tom Mueller.

Funny you should write about this... I used to buy all my olive oil at the farmers market from a small orchard owner in Santa Barbara. Then market “politics” (who knew?) drove her out and I’ve jumped through hoops ever since to keep this cold pressed California olive oil in my life. Including driving up to Santa Barbara and buying it out of her garage. She has a friend of the family who lives around 5 miles from me so our latest purchase was by contacting the friend of the family who keeps a small supply on hand for resale.

I love our olive oil but send me a PM with details about yours and how one obtains it.
 

goaliedave

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I was on a conference call this morning with the National Association of Realtors and the question came up as it relates to home ownership.

The optimistic forecast is that home buyers will again look to buy larger homes with a dedicated home office, gym and play areas, nanny suites for child care, in-law suites to bring Mom/Dad home to care for, large yards with pools, etc.

Also that demand for second homes in locations within driving distance to cities will surge - why not work for a few weeks from your lake, country or beach home?

Maria
973-902-2843
"Optimistic forecast" indeed. You would expect a real estate group to say that to keep up members' spirits. Better to rely on independent economic analysis.

Sent from my SM-A505G using Tapatalk
 

WalnutBaron

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They expert opinion is that this is not anything like 2008 housing crisis when homeowners were underwater and it took years for the unwinding if the loss. They felt this is a temporary softening, but we have a strong underlying economy.
I can't comment on the source of your information, but when liquidity dried up in 2008, the collapse of the real estate market was not far behind. Have you been watching the behavior of the bond markets these past couple of weeks? In "normal" bear markets, when stocks are down, bonds strengthen. That has not been the case this time around. Even with interest rates at historic lows, you don't hear people jumping out there saying, "Oh, what a great time to buy a starter home, or upgrade to a bigger house!" Why? Because of fear, because they've suddenly lost their jobs, because Congress is fiddling while Rome burns. I hope you're right and this will be a quick turnaround. But the behavior of the financial markets, which are a pretty accurate barometer of the future, tells a much different story.
 
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