Yul Lose Posted March 24, 2020 Share Posted March 24, 2020 I hadn’t been into town for over a week so I decided to take a drive into Escondido yesterday. Grand avenue is the main drag and there was only 1 business open and that was Rosie’s cafe, carry out only. The city has been struggling for years to find tenants for the deserted storefronts and over the last three years or so new breweries, restaurants, etc.. had been coming in and renovating the old buildings and starting businesses. I wonder if this lockdown continues for 10 or 12 more weeks, which businesses will be financially able to reopen? I’m guessing not many. Link to comment Share on other sites More sharing options...
Tex Jones, SASS 2263 Posted March 24, 2020 Share Posted March 24, 2020 I worked at Dun & Bradstreet many years ago, as a credit reporter . In the lobby of the building, which was the headquarters, at 99 Church St. as a larger than life statue of a frontiersman (think Daniel Boone) and a shop worker (Blacksmith, metal worker, can't remember exactly) standing together and the words "Credit, man's confidence in man" on the base. Many businesses, not all, will be reestablished by the practical application of that concept. A lot of other factors will come into it as well, but for it to work, on any scale, confidence has to be a major component. Link to comment Share on other sites More sharing options...
Yul Lose Posted March 24, 2020 Author Share Posted March 24, 2020 10 minutes ago, Tex Jones, SASS 2263 said: I worked at Dun & Bradstreet many years ago, as a credit reporter . In the lobby of the building, which was the headquarters, at 99 Church St. as a larger than life statue of a frontiersman (think Daniel Boone) and a shop worker (Blacksmith, metal worker, can't remember exactly) standing together and the words "Credit, man's confidence in man" on the base. Many businesses, not all, will be reestablished by the practical application of that concept. A lot of other factors will come into it as well, but for it to work, on any scale, confidence has to be a major component. I agree, but after this is over credit ratings could be severely damaged by the loss of cash flow and I’m wondering if the housing and mortgage industry will collapse worse that the 2007-2008 episode. Link to comment Share on other sites More sharing options...
Sedalia Dave Posted March 25, 2020 Share Posted March 25, 2020 9 hours ago, Yul Lose said: I agree, but after this is over credit ratings could be severely damaged by the loss of cash flow and I’m wondering if the housing and mortgage industry will collapse worse that the 2007-2008 episode. Well the housing boom here has stopped dead in its tracks. In the counties that have a "shelter in place" decree all construction has stopped. In those without only houses that have been started are being completed. If the house is a bare foundation or less all work has stopped. This includes the big national developers as well as the local guys. Link to comment Share on other sites More sharing options...
Yul Lose Posted March 25, 2020 Author Share Posted March 25, 2020 Just now, Sedalia Dave said: Well the housing boom here has stopped dead in its tracks. In the counties that have a "shelter in place" decree all construction has stopped. In those without only houses that have been started are being completed. If the house is a bare foundation or less all work has stopped. This includes the big national developers as well as the local guys. Yep, same here. There are two big projects not to far away and they are shutdown, have been for two weeks. Link to comment Share on other sites More sharing options...
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