Are you ready to invest based on what the world will look like when the pandemic is over? Most of us, including myself, believe the world will not return to normal postpandemic, and a new normal will emerge. Here a few thoughts.
People may migrate out of cities so they can be away from crowds and less likely to pick up the next nasty virus. But I’m doubtful this will be a noticeable change. Businesses still set up shop in the cities and people still need to get to work. And we have a short memory, so fear of viruses likely won’t cause a mass exodus.
We will return to air travel. Zoom is great for business meetings but not the real thing. People make big buying decisions because they trust who they’re dealing with, and nothing builds trust like personal contact. Those of us who fly for pleasure – vacations, visiting friends and relatives – will get tired of sitting at home. Flights are already filling, loads and passenger counts are up – just a little and it will be a long road to recovery, but travelers wants to fly. When more data shows that people are not contracting Covid 19 on planes, air travel will return.
Telecommuting – now there’s a trend we can embrace! If your work allows it, more businesses will make this temporary arrangement permanent. Sure, they have to figure out how to onboard a new employee to a virtual office, and how to be sure we’re not frittering away our time during the day. But think of all the new time you have each day not driving to and from work, and think of the highways not nearly so jammed during rush hour or throughout the day. It could be awesome. And yes, it could lead to an exodus from the cities, into not just the suburbs but any quaint little town in a low-tax state, with high speed internet.