RE:RE:More than 2 weeks without newsOld standby terms like "sell in May and go away" and "in the summer, everyone is away at the beach" don't really apply in 2020.
The Covid shutdown has drained a lot of people of cash. Here in Florida, rent and mortgage deferrals expired in July and now the extent of the problem is massive. On top of that, homeowners including myself facing 30% homeowners insurance increases across the board due to hurricane claims. Very few people, save for government employees, have the type of disposable cash to go on vacation.
First, we'll see a real estate crash. The banks will teeter on the brink. 2008 will looks like child's play.
I don't know if it is any better in Canada. But looking at the amount of money the federal government is pumping into the economy, it seems worse than here in the US. At least we have an economy where the people are rip-roaring and ready to get back to work. Not so sure that is the case when one is receiving generous government hand-outs.