[BPt111]

I wonder if rents will go down in Stamford/Norwalk area ?

[BobNJ1960]

Ct insider reports 44% of all Ct hotel jobs lost during this epidemic, btw.

[Stylo]

Originally Posted by BobNJ1960

Ct insider reports 44% of all Ct hotel jobs lost during this epidemic, btw.

Easy jobs to rehire, thankfully.

[BobNJ1960]

Originally Posted by Stylo

Easy jobs to rehire, thankfully.

If hotels survive. Homewood Suites in Hartford likely to be sold as land only per owner.

IMO we will see far fewer US hotels for years to come after this.

.

[BobNJ1960]

Originally Posted by BPt111

Jobless claims reach nearly 100,000 in CT for scale, the total net job losses in Connecticut in the Great Recession were about 127,000.

Approximately 27,000 unemployment claims were made in the state since Friday, bringing the total since March 13 to about 99,000, the Department of Labor reported. A typical week is about 2,500 claims. A little over 10,000 this Monday.

This week the state might see worst job claims in state history.

https://www.courant.com/coronavirus/...mpression=true

I cannot forget your post. The underlined is mind-boggling.

[BPt111]

Originally Posted by BobNJ1960

If hotels survive. Homewood Suites in Hartford likely to be sold as land only per owner.

IMO we will see far fewer US hotels for years to come after this.

.

Airbnb and similar take over ?

[7 Wishes]

Originally Posted by BobNJ1960

I hope so, but Federal economists are projecting Q2 unemployment rates of 20-30%.

We were at 3.5%.

Even during the Great Recession, I do not recall the published rate (excludes the discouraged) hitting 12%.

This freefall is unprecedented, at least since we recorded data accurately. (We did not do so in the Great Depression, btw. Recording was hardly a science).

It's gonna be a wild ride.

The difference is since this was man made/artificially imposed, if we undo it in not too long a time it can quickly reverse. I'm (cautiously) optimistic

Originally Posted by Stylo

Easy jobs to rehire, thankfully.

Ditto restaurants, etc. See above.

[BobNJ1960]

Originally Posted by 7 Wishes

The difference is since this was man made/artificially imposed, if we undo it in not too long a time it can quickly reverse. I'm (cautiously) optimistic



Ditto restaurants, etc. See above.

Keeping it (shutdowns) to a brief length of time is critical.

[SteveM85]

Originally Posted by JayCT

Tonight’s Channel 3 News had a segment on the real estate market. They interviewed a shoreline real estate agent who said their phones are ringing off the hook for the past week with New Yorkers looking to get out of the city. They are looking for short and long term rentals and to buy. This is just like after 9/11. Jay

I believe it. I see it firsthand down here in the Stub. Several homes in New Canaan alone have gone pending in the last few days despite the unprecedented circumstances. Amazing resiliency. It has picked up in Westport too.
Greenfield Hills and East Norwalk are the hottest markets around. Homes are turning over hand over fist.
FF Countys gonna be fine despite the dire warnings from Bob and Friends. Maybe even better.

[SteveM85]

Originally Posted by Stylo

Easy jobs to rehire, thankfully.

Ah, someone who gets it. Refreshing to see