Coronavirus and DVC prices

[Cyberc1978]

So I just read that a record high of 3.28 million unemployment claims was filed last week.

If that many people are loosing their job this fast, I think we will see a fast drop in DVC prices.

Just for my understanding if you lose your job in the U.S are you not paid the day after or do you still get paid for a certain amount of time afterwards like 1,2,3 or 4 months and then you file your claim for unemployment?

 

[TraderSamWDW]

So I just read that a record high of 3.28 million unemployment claims was filed last week.

If that many people are loosing their job this fast, I think we will see a fast drop in DVC prices.

Just for my understanding if you lose your job in the U.S are you not paid the day after or do you still get paid for a certain amount of time afterwards like 1,2,3 or 4 months and then you file your claim for unemployment?

I do not think there is a time limit (but not sure), but I also think people do not really wait either. Its not like the benefits start in an instant.

 

[MonkeyKnifeFight]

So I just read that a record high of 3.28 million unemployment claims was filed last week.

If that many people are loosing their job this fast, I think we will see a fast drop in DVC prices.

Just for my understanding if you lose your job in the U.S are you not paid the day after or do you still get paid for a certain amount of time afterwards like 1,2,3 or 4 months and then you file your claim for unemployment?

In the US it depends on the company. Most corporations with white collar jobs offer severance packages. So far they aren't doing most of the layoffs. Most of these are due to the closures of restaurants and retail. Which at the time are planned to be temporary. These employees are mostly hourly and stop getting paid immediately.

It varies state by state. Ohio has waived the waiting period and you get unemployment immediately. I think other states are doing this as well. Normally you wait a week. But its half your wage until a certain point and then you could get slightly more if you have dependents. The new legislation is giving unemployed an extra $600 a week, but it hasn't been voted on yet by the house.

 

[MICKIMINI]

It is up to the individual state. Some states, like NH have a lower benefit than neighboring MA which has a higher benefit. The thought has been to get people back to work ASAP which has been relatively easy in NH up to the past two weeks as our unemployment rate has been in the low 2% range. The new legislation has a major flaw in that it was written in that the unemployed would get an extra $600 per week rather than an amount up to their current wage. That is a major mistake as it could potentially incentivize people not to go back to work as unemployment could much be greater than their working wage. That would cost the taxpayer a ridiculous amount of money - basically giving many people a huge raise that they did not earn rather than having that excess money available to cover more unemployed people. That issue is part of the hold up and there were many "eyeballs" on that bill that could have and should have caught the mistake.

 

[MonkeyKnifeFight]

It is up to the individual state. Some states, like NH have a lower benefit than neighboring MA which has a higher benefit. The thought has been to get people back to work ASAP which has been relatively easy in NH up to the past two weeks as our unemployment rate has been in the low 2% range. The new legislation has a major flaw in that it was written in that the unemployed would get an extra $600 per week rather than an amount up to their current wage. That is a major mistake as it could potentially incentivize people not to go back to work as unemployment could much be greater than their working wage. That would cost the taxpayer a ridiculous amount of money - basically giving many people a huge raise that they did not earn rather than having that excess money available to cover more unemployed people. That issue is part of the hold up and there were many "eyeballs" on that bill that could have and should have caught the mistake.

From what I read the republicans in the senate tried to cap it at earned wages, but decided to pass it anyway to get the legislation done. It is only for 13 weeks but if things are better in june I could see a lot of people might want to sit at home rather than go back to work. I think a lot of states have waived work search requirements as well if the person's job is planning on re-opening.

 

[Brian Noble]

if things are better in june I could see a lot of people might want to sit at home rather than go back to work.

I know a lot of people in that wage bracket. I can't think of one of them who'd rather stay home, because doing something productive has intrinsic value for the vast majority of people.

 

[MonkeyKnifeFight]

I know a lot of people in that wage bracket. I can't think of one of them who'd rather stay home, because doing something productive has intrinsic value for the vast majority of people.

I think it depends quite a bit on the person. I couldn't believe how many people in my community were mad they were considered essential and could continue working. It seemed like a lot of them just wanted time off. I think servers will definitely want to go back to work since their tips were probably not claimed and not calculated for unemployment insurance. Average retail person? Harder to say. Especially if they are getting paid more to not work.

 

[MICKIMINI]

From what I read the republicans in the senate tried to cap it at earned wages, but decided to pass it anyway to get the legislation done. It is only for 13 weeks but if things are better in june I could see a lot of people might want to sit at home rather than go back to work. I think a lot of states have waived work search requirements as well if the person's job is planning on re-opening.

Let's hope all those jobs come back soon. I stopped by to see a friend who works for a major car retailer yesterday and apparently they have already laid off and may be closing for the indefinite future. She is on commission and has worked her tail off to get where she is. My hair stylist has never been out of work... The gym I go to has closed and all the part time trainers - well the entire staff is out of work. Stunning to see life just stop...so sad.

 

[MICKIMINI]

Just for the record, my DH is "essential" and working six days a week. I told him if he gets laid off he has to paint all the ceilings in the house...much better to work!

 

[MonkeyKnifeFight]

Let's hope all those jobs come back soon. I stopped by to see a friend who works for a major car retailer yesterday and apparently they have already laid off and may be closing for the indefinite future. She is on commission and has worked her tail off to get where she is. My hair stylist has never been out of work... The gym I go to has closed and all the part time trainers - well the entire staff is out of work. Stunning to see life just stop...so sad.

I hope so too. This has hit a lot of people I know who have never been unemployed before. This is very different than a traditional recession since it isn't companies cutting hours gradually to save money due to lower demand. Its businesses who were doing quite well forced to close for safety.

 

[MICKIMINI]

I hope so too. This has hit a lot of people I know who have never been unemployed before. This is very different than a traditional recession since it isn't companies cutting hours gradually to save money due to lower demand. Its businesses who were doing quite well forced to close for safety.

Exactly right!

 

[SL6827]

The flu does not put 5% of patients into the ICU on ventilators. I am an emergency medicine physician and I'm worried. Reports from colleagues in NYC and Georgia are rough. Lack of beds, lack of vents, lack of appropriate PPE. Here, our ICUs are nearly full even on good days and as of 2 days ago, our hospital (which is just now starting to see more super sick COVID patients over the past few days) only had 2 normal ventilators available. They have some transport vents and older "back ups".

I am in Georgia and worried to death about this.

 

[SL6827]

So if or when resale prices fall a good bit, Disney will still keep their direct pricing the same, right? What is Riviera now, like close to like $190 a point? I just can't see Disney selling that many direct points at that price if many of the L14s are around $100 or less.

 

[striker1064]

It is up to the individual state. Some states, like NH have a lower benefit than neighboring MA which has a higher benefit. The thought has been to get people back to work ASAP which has been relatively easy in NH up to the past two weeks as our unemployment rate has been in the low 2% range. The new legislation has a major flaw in that it was written in that the unemployed would get an extra $600 per week rather than an amount up to their current wage. That is a major mistake as it could potentially incentivize people not to go back to work as unemployment could much be greater than their working wage. That would cost the taxpayer a ridiculous amount of money - basically giving many people a huge raise that they did not earn rather than having that excess money available to cover more unemployed people. That issue is part of the hold up and there were many "eyeballs" on that bill that could have and should have caught the mistake.

I really don't think this is a huge deal. It is something of an oversight, but it's at most 4 months, right? How many people are going to trade potentially years of wages for 4 months of a little more money? I'm sure some will, but that money will end no matter what, and they'll have to go back to work.

 

[a742246]

Don't forget to thank all the cashiers and other workers that are exposed to the public. Most of them do not get paid enough in good times let alone times like this.

 

[Cyberc1978]

So if or when resale prices fall a good bit, Disney will still keep their direct pricing the same, right? What is Riviera now, like close to like $190 a point? I just can't see Disney selling that many direct points at that price if many of the L14s are around $100 or less.

Disney won’t lower the prices however they will be offering incentives. Depending on how deep the crisis will get they can or will offer more Incentives.

 

[MonkeyKnifeFight]

I am in Georgia and worried to death about this.

Its scary, but due to lack of testing I am skeptical of these numbers. It is certainly higher than the flu and much more lethal with complications. Right now its 5% of patients that can get tests. And in a lot of states you need to be over 60 and have a lot of other symptoms and complications to even get tested.

 

[Brianstl]

I know a lot of people in that wage bracket. I can't think of one of them who'd rather stay home, because doing something productive has intrinsic value for the vast majority of people.

Plus it isn’t like the extra money is equal to the health insurance or other benefits they lost.

 

[FireflyTrance]

Anyone seeing any drops in resale prices? I am now thinking I may try to pick up an AKV resale contract if I can get one around $80 a point. They were around $80 a point when I started looking 4-5 years ago.

 

[Brian Noble]

I couldn't believe how many people in my community were mad they were considered essential and could continue working. It seemed like a lot of them just wanted time off.

Maybe they just didn't want to catch the virus or pass it on to someone else that they live with/care for with one or more risk factors.