Coronavirus

Some homeowners struggled to pay PACE improvement loans. The coronavirus made it harder

It wasn’t until the work was done that Marcelino and Josefina Rodriguez said they learned the truth.

They had been signed up for a roughly $45,000 PACE home improvement loan at nearly 10% interest — even though they said a woman working with the contractor told them their new roof and water heater would be free through a government program.

The Rodriguezes contacted the authorities, but the nearly $4,500 annual bill came due anyway — a financial hit for the household of four who scraped by on less than $30,000 each year as garment workers paid by the piece.

If they didn’t pay, Marcelino, 67, and Josefina, 64, could lose the Pacoima home they’ve owned since 2001, one that provided them and their sons stability after years of bouncing from rental to rental. So to get by, they started selling food and one of their sons said he exhausted his

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Coronavirus Feeds Home Improvement Trend, Stocks to Count on

The COVID-19-induced shelter-at-home orders fuelled the need for home improvement by housebound Americans, thereby driving demand for the said industry.

The home improvement space includes Décor and indoor garden, Painting and wallpaper, Tools and hardware, Building materials, Lighting et al.  Apart from essentials, retailers in this industry are witnessing solid demand for gardening and other in-house activity-related products.

Although states are reopening and people are reporting back to work, the emergence of new cases triggers the fear of a second wave, only to remind us that the deadly virus is not going to subside anytime soon. Rather, the pandemic threat keep people confined to their homes, spurring the obvious requirement for home improvement products.

One of the leading industry players, management at Lowes disclosed that it saw very strong COVID-related demand for cleaning products along with other necessary home appliances, such as refrigerators, freezers and DIY home repair products. As

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Mixed Outlook for Retail Building Products Amid Coronavirus

The Building Products – Retail industry comprises U.S. home improvement retailers, manufactures of industrial and construction materials and distributors of wallboard and ceilings systems. Some of the industry participants also offer products and services for home decoration, repair and remodeling, and in-home delivery and installation services.

The industry players provide a wide array of products, ranging from cement or concrete foundation materials to roofing boards and shingles. The companies also sell lumber, insulation materials, drywall, plumbing fixtures, hard-surface flooring, lawn and garden, and decor products. Some players also deal in threaded fastener products, and manufactured and natural stone tiles. The industry players cater to professional homebuilders, sub-contractors, remodelers and consumers.

Let’s take a look at the industry’s three major themes:

  • The industry’s prospects remain closely tied to U.S. housing market conditions, and repair and remodeling (R&R) activity. The bleak near-term prospects of the housing market amid coronavirus-induced high unemployment and
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Mastercard sees spending return as economies open after coronavirus gloom

By Noor Zainab Hussain

(Reuters) – Mastercard Inc <MA.N> said it expects consumer spending to gradually return to “pre-COVID” levels as people start using their cards again on clothing and domestic travel with countries easing lockdown measures that have brought the world to a standstill.

The world’s second-largest payment processor on Wednesday reported better-than-expected first-quarter earnings and said it has started seeing early signs of spending levels stabilizing.

The novel coronavirus pandemic has shut down large parts of the global retail industry as stores remain shut and shoppers stay at home to avoid catching the highly contagious illness.

The outbreak has also hammered the global economy, pushing companies to layoff employees by the millions. That, in turn, could weigh on credit card issuers as more people default on their payments.

“We believe we are currently in the stabilization phase in most markets. The next phase is normalization, where governments gradually

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No emergency fund in coronavirus crisis? Here’s what to do now

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At a time when the stock market has declined significantly from its pre-pandemic highs, now may seem like the perfect time to invest. Here’s why you probably shouldn’t.

As the saying goes, when markets get volatile, “cash is king.” That wisdom holds doubly true now, as the coronavirus pandemic has not just sent markets into a tizzy, but inflicted significant damage on virtually every sector of the economy.

TRUMP SAYS HE’LL SIGN CORONAVIRUS LIABILITY EXECUTIVE ORDER THAT HELPS MEAT PRODUCERS

At a time of significant financial stress, American families who have a large emergency fund can sleep easier, knowing that they can rely on their cash cushion to help get them through this downturn. But some families don’t have a sizable emergency fund saved up—or don’t have one at all.

If you

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How coronavirus could alter the way we shop for clothes from now on

Normally, this would be the time of year when many people would be refreshing their wardrobes for warmer weather and looking for the latest spring and summer styles. But these are far from normal times, and our shopping priorities have drastically shifted from buying cute spring dresses to stockpiling groceries.

Over the last few weeks, retailers have quickly pivoted to online-only operations as the spread of coronavirus has forced brick-and-mortar stores to temporarily close. Many brands are struggling to adjust to the “new normal.”

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As the outbreak continues to evolve, many retailers and shoppers are wondering: Will stores be able to survive the pandemic? Will more consumers turn to online shopping? And will coronavirus end up changing the way we all shop for clothes? TODAY Style spoke to industry experts to get some insight on how coronavirus might

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