Ever dreamed of a holiday house in the South of France overlooking the Mediterranean, greeting early spring on the slopes from your own cabin in Italian Alps or living la-vida-loca in the culture capital Barcelona? Well, this just might be your once-in-a-lifetime opportunity.
Usually, tips and tricks are given in hindsight, however this time we can observe in real time as Covid-19 ravages the local economies of some of the most beautiful and in-demand cities and resort locations. By now it is almost certain that it will get worse before it gets better and the odds for another “lost” summer tourism season seem ever more likely. Even though countries are racing to approve vaccines – manufacture, logistics and administration itself will take weeks and months.
Customer confidence will be at an all-time low for the fear of another wave and there are no guarantees on lifting of local restrictions enforced by the nation governments. Aviation, hotels, restaurants, taxis, entertainment, sports are just some of the core industries that will continue to suffer and so will the owners, employees and subcontractors. Potential stimulus is the sole silver lining that may hold up a total collapse of these industries, but “printing” one’s way out of financial difficulties sounds like a cure with unknown side effects.
“Never let a good crisis go to waste” – most people have heard this cliché at least once before, but it rings totally true this time. It might sound a little cynical or non-sympathetic but that is what capitalists do. They put emotion aside, evalute risks and rewards and strike swiftly. If you are a part of the frugal, e-commerce, stay-at-home economy beneficiary – this is your time to be aggressive.
If being a homeowner in the southern Europe was never your dream, then this should not change your mind, but if it is, then you should try to strike iron while its hot. I certainly will!