So I read the post here where it's claimed that RV sales are up.I heard that Class B van types campers are up slightly and everything else is down.My thinking is... I'm not going in debt right now until things calm down and get more back to normal. And I have been out of work for 7 weeks. Unemployment is through the roof right now. I really don't see how RV sales could be up since this crisis. Unless theres something I'm missing. When you are out of work or on a reduced schedule why go into debt for something like an RV. Even if you are still working isnt it in the back of your mind "what does the future hold"??I would expect to see alot of RVs, boats, motorcycles, etc up FOR SALE and an increase of repossessions.Me personally, well, I was at the RV show earlier this year...just looking. Glad I didnt buy anything.

I suspect a number of RV's are being bought as "isolation chambers" for folks trying to avoid potentially infecting family members if their jobs place them in potential CV-19 exposure situations. Others are likely being bought as replacements for vacations normally done by air or cruise travel. And of course some are just long planned purchases that happen to come together now. Certainly some of the sales are being financed, but I'd bet not all of them...

So just reread your first sentence. You're post is tied to that sentence being true.

I just retired and thought I'd planned perfectly. I had planned for the stock market to tank at the beginning of our retirement so I reduced my exposure to the stock market, sold our house, and moved to an area w much lower cost of living last year. My current income is based on sales of fresh potatoes and onions and only a pandemic could and did hurt that business. The business withstood the dot com bubble, 9/11, and the Great Recession with barely any reduction in sales at all, but so far the first 2 months of the pandemic have been very discouraging. People need to eat but w no restaurants and 35 million plus unemployed even something as basic as a potatoes and onions are not selling. I don't know of any business that is impervious to the current and forthcoming economic disaster. I want a truck and truck camper, but I'm really having a hard time making the decisions required to go through with the purchase. I'd like to visit the plant were the camper's are made but the thought of spending 3 nights in a motel is horrifying right now. I'm not sure what interest rates are being paid on rv's but they must be historically low and gas is very inexpensive. However, I wouldn't want to be mixing it up in campgrounds and rv parks(not my style anyway.) If I was younger and had kids to feed and educate I wouldn't be in the market for any major purchases (oil changes and new tires only)till there is a vaccine for cv19.

RV debt might be lower than the apartment rent. And more mobile for a job offer out of town.Modest RV is actually a way of life for a growing number of people.

RV sales are up and probably will continue to increase. People who would travel overseas or fly to expensive domestic destinations are diverting that money to a RV purchase so they can vacation more locally.

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TechWriter
Explorer
May 15, 2020
ajriding wrote:

Unemployment numbers are claimed anywhere between 14 and 24%. That is not really so bad considering the situation.
Remember many of these "unemployed" are really just on a leave while the businesses are shut down (hopefully they all start back up one day, but some will not).

Not likely. According to Forbes, 42% of recent layoffs will be permanent, the coronavirus recession will last far longer, and unemployment is closer to 25%. Fasten your seatbelts.
DallasSteve
Nomad
May 15, 2020
TechWriter wrote:
ajriding wrote:

Unemployment numbers are claimed anywhere between 14 and 24%. That is not really so bad considering the situation.
Remember many of these "unemployed" are really just on a leave while the businesses are shut down (hopefully they all start back up one day, but some will not).

Not likely. According to Forbes, 42% of recent layoffs will be permanent, the coronavirus recession will last far longer, and unemployment is closer to 25%. Fasten your seatbelts.

People are going to start falling behind on their mortgages and (I believe) it will cascade into bigger economic shocks down the road. This misadventure of shutting down the economy could take 5 or 10 years to fully recover. We went from the greatest bull market ever to this for no good reason.

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