I think the retail sector will be healthy this season. The reason I think this is b/c there are just sooooo many people living for free in homes. I honestly think that is one reason why our economy hasn’t been worst off.
Think about this. What takes the biggest chunk of your salary? Housing and transportation are probably the major ones. If you are not paying your mortgage for a year+ that means you have extra “income.”
I am not going to underestimate the impact that is having on the economy. The unemployment numbers are higher than usual, but people not paying their mortgage equals money being spent and some people are still keeping their jobs thanks to that consumer spending, for whatever it is, be it groceries, clothes, toys or restaurants.
Thanks taxpayers! (we are more socialistic than we even know)
