What will happen to the industry & RV’ers

[billcf7]

2008 all over again only worse

[ETCrockett]

With the kids out of the house, the wife and I had been planning to down size the family home to a small single level to call home base while we enjoyed traveling around the country. This virus may have just sped up our plans and made us become full-timers in the FW. The RV payment is a whole lot cheaper than the mortgage payment. If I was trying to recover financially, I would unload the house before the FW. Everyone's situation is different. Some tough decisions ahead for all of us! Stay safe and God bless!

[Screwby]

Originally Posted by ETCrockett

With the kids out of the house, the wife and I had been planning to down size the family home to a small single level to call home base while we enjoyed traveling around the country. This virus may have just sped up our plans and made us become full-timers in the FW. The RV payment is a whole lot cheaper than the mortgage payment. If I was trying to recover financially, I would unload the house before the FW. Everyone's situation is different. Some tough decisions ahead for all of us! Stay safe and God bless!

This is the whole reason we kept the big 5th wheel as we took a break from “full timing” and decided to rent a house because a mortgage wasn’t appealing quite yet. It’s been out there as an “in case of emergency break glass” item. We couldn’t bring ourselves to sell it in case we decided to full time again and it’s comforting having another home with wheels sitting there just in case. Glad we made that decision now.

[Riich]

Originally Posted by RetiredOne

Another thought, when things get tight, people start selling play toys and luxury items first, to generate some cash.

I expect to see a whole bunch of used rigs come on the market in the near future, along with tons of motorcycles, quads, boats, etc.....

I agree 100% with your thoughts, the used market for all of the above items is going to be flooded. I doubt there are going to be many people looking at new vehicles and RVs.

If you have the cash there are going to be some good sales in the used market.

In ND, we are going to suffer greatly from the oil industry laying off folks too. It seems like a lot of them guys make the big money and spend the big money, and when the income dries up things go up for sale. It's unfortunate.

[Camper_bob]

Originally Posted by Riich

I agree 100% with your thoughts, the used market for all of the above items is going to be flooded. I doubt there are going to be many people looking at new vehicles and RVs.

If you have the cash there are going to be some good sales in the used market.

In ND, we are going to suffer greatly from the oil industry laying off folks too. It seems like a lot of them guys make the big money and spend the big money, and when the income dries up things go up for sale. It's unfortunate.

Oil is pretty big around here too, and I'm sure we're going to see the effects of that slow down. LOTS of clients who receive royalties are going to have to tighten the belt; some of them who listened to my advice won't be as bad off. LOTS of clients who work out in the "field" are probably going to be out of work. LOTS of clients who depend on those folks to spend money at their businesses... I have a feeling it's going to be pretty bad economically for a while.

On the RV side of things, I can't remember where it was, but somewhere in the NW there was an oil play that drew TONS of workers. They all went up there and financed RVs to live in. When the oil field played out, they just walked away from those campers. Thousands of them IIRC.

Around here, people who owned little plots of land in some of the small towns around our own Eagleford Shale play turned them into RV parks. Installed water and sewer and electric. For a long time they were all full to capacity with oil workers. Now you drive through and they're all but empty... And that was just the oil field...

[RetiredOne]

FYI, I just got a email from my dealer that they were shutting down due to state closure requirements from Covid, since they are a non-essential business. More and more states are shutting down their states.

If there's something you need from your dealer, better get it STAT... before more states follow suit.

[Johnynorthland]

Originally Posted by RetiredOne

FYI, I just got a email from my dealer that they were shutting down due to state closure requirements from Covid, since they are a non-essential business. More and more states are shutting down their states.

If there's something you need from your dealer, better get it STAT... before more states follow suit.

Hum, I wonder if they will extend warranty work dates? I seriously doubt it but just a thought!

[goducks]

Just now per Oregonlive.com
All Oregon State Parks are set to close Monday in response to the growing coronavirus outbreak.
Lock it down.

[ALJO]

The RV business where I do service calls don't expect a busy year, so I might not be called in this year. People are scared to spend money they don't have in this uncertainty.

[Duke4857]

We own our house so we will always have a roof over the head. The Pickup and TT are under a loan, but we can make those payments on unemployment if we need to. Our worries are health and life insurance payments over the long term. Where I work pays for half of our health insurance and all of my life insurance.

[CAG]

Originally Posted by billcf7

2008 all over again only worse

I could be wrong, I have been before but this is nothing like 2008. That was a crash in the making for several years before as loan companies and banks gave money out to people who should never have gotten it and could not pay the loans they got. This is TOTALLY different and my guess is the market will be back in a year. We will have a vaccine by then and this virus will be history.

There will be some major consequences for many small businesses but the Feds are on track to help with that. Some will go under but many will come out stronger. Those businesses that had plans for this type of circumstance will be fine. Those living from month to month are probably going under. If they overextended with their personal lives, more so. Sadly the mom and pop businesses are going to suffer seriously.

2008 required 10 years to recover. This will not take that long.

I had to add this as a PS. Watch what happens in Las Vegas. Many of the casinos and resorts operate on a very thin margin. You may think they make big bucks because of gambling but they spend it to keep those extravagant buildings and casinos operating. They will be hurting.

[Duke4857]

I like the positive waves CAG!!

[TCNashville]

I'm curious as to what full timers do when states go to essential travel only and camp grounds shut down, where will you go?

[CAG]

Originally Posted by TCNashville

I'm curious as to what full timers do when states go to essential travel only and camp grounds shut down, where will you go?

I am not out there full timing but are camp grounds shutting down? I have not seen any around here announce that yet. It is pretty much like my neighborhood, we are still all in our houses.

[RetiredOne]

Originally Posted by CAG

I could be wrong, I have been before but this is nothing like 2008. That was a crash in the making for several years before as loan companies and banks gave money out to people who should never have gotten it and could not pay the loans they got. This is TOTALLY different and my guess is the market will be back in a year. We will have a vaccine by then and this virus will be history.

2008 was centered around the housing market and bad financial decisions. It really had nothing to do with retail, travel, schools, manufacturing, etc. It was mostly just a US situation and didn't affect any other global countries.

This current situation is economically affecting the MAJORITY of industries, businesses, people and every country. It's a really long shot that it will all bounce back in a year.

Also, this is a coronavirus, the 7th. The first 4 were the common cold, the 5th was SARS, the 6th was MERS, and not a single one of them has a vaccine. Even our seasonal flu, which comes every year, which has a vaccine, is only barely 40% effective. I wouldn't hold out hope for a vaccine for this one anytime soon. Viruses mutate constantly.

[CAG]

It was mostly just a US situation and didn't affect any other global countries.

We must have been on different planets at that time. The US market crash took the rest of the world along with it. Most all of the financial institutions affected here did/do business around the world. No market or economy is independent in this day and age. We started it but it then caused ripples around the world.

As to a vaccine, if the labs working on it now cannot come up with one as you say, then I guess they should just stop trying since the others you mention don't have one. They all mutate as does the flu and we seem to come up with an updated flu shot each year. 40% would save a lot of lives if predictions are true and the estimate now is within a year. There is already testing of some in progress.

I agree that most everything is now affected by this but I have a C note that says once the virus runs it's course for this season we will see a major upswing in those businesses that survive. As I said some will fail but we have survived before.

[Rice1951]

Right now just about everyone is hurting - bars, restaurants, recreation centers, auto dealers, schools, financial institutions, hotels, RV dealers, in other words, you name it. We’re all affected..
Michigan just declared a quarantine from 03/24 thru 04/13 where the only people that can congregate in one place are members of a single family (parents with children) unless it’s an emergency. This is unprecedented in our lifetime.
We will recover from this because that is the American way. But it will hurt for awhile. The current state of the stock market is going to be felt for a long time and it’s hard to imagine anyone laying out any money let alone $60k+ for a new RV (especially a more expensive MH) unless they already have it on order. Yes, the price of gas is cheaper and interest rates are low but we are all looking further down the road and what we see now is getting worse before it gets better.
Seniors in high school likely won’t have a prom or participate in Spring sports or even have a graduation ceremony. Spring break vacations have been cancelled. They can never get that back.
RV dealers in Michigan are closed right now. Their sales are zero, zilch, nada. When they reopen is unknown and when they do (if they do) they will be behind the 8 ball. There will be a glut of RV’s all over the state and probably all over the country. It could be a good time to buy but it will depend on a lot factors. Will consumers have the money to spend on an RV and if so, are they willing to do so? I have already purchased my last RV so it’s up to the folks who are still in the market who will help decide the direction the RV industry is going to go. I for one hope for a full recovery in a timeframe that doesn’t drag on for years.

On a good note Michigan has already eliminated the state park entry fee for 2020 so at least you can get in. Then you just have to pay for the daily overnight fees.

Stay safe, stay healthy and stay home (for now).

[goducks]

Originally Posted by CAG

I could be wrong, I have been before but this is nothing like 2008. That was a crash in the making for several years before as loan companies and banks gave money out to people who should never have gotten it and could not pay the loans they got. This is TOTALLY different and my guess is the market will be back in a year. We will have a vaccine by then and this virus will be history.

There will be some major consequences for many small businesses but the Feds are on track to help with that. Some will go under but many will come out stronger. Those businesses that had plans for this type of circumstance will be fine. Those living from month to month are probably going under. If they overextended with their personal lives, more so. Sadly the mom and pop businesses are going to suffer seriously.

2008 required 10 years to recover. This will not take that long.

I had to add this as a PS. Watch what happens in Las Vegas. Many of the casinos and resorts operate on a very thin margin. You may think they make big bucks because of gambling but they spend it to keep those extravagant buildings and casinos operating. They will be hurting.

We have a vaccine for the 2008-2009 H1N1 and 18,000 still die a year with millions being infected. Problem with vaccines are unless it's mandatory then only a small percentage will get them. Then if the virus mutates a new version is required. Last years vaccine was abust because the guessed wrong on which version was needed.
What happens between now and the 12-18 months it takes for vaccine?
Immunity will slowly develop until the virus mutates like they all do.
No one knows how this will play out. If we slow the spread and let things go back to normal will it start back up and it's a rinse repeat thing?

Peak infections seem to be sometime in april according to most graphs I've seen. Thats 3 weeks from now. Depending on what precautions are taken will determine how overwhelmed our hospitals will become.

This pandemic is going to be around for months and it's anybodies guess as to whether there'll be a camping summer.

[Jopopsy]

Winnie is closing it down for awhile:

https://www.wndu.com/content/news/RV...569024781.html

[hummy]

Hate to say it, I hope Boyer RV in Erie, Pa. goes under! 2 years of pure H-LL and lies