And others will too.
Which means that there will be some businesses that will collapse.
I'm also wondering about the housing boom. Fewer people spending money means fewer people buying houses. Will the inflated house prices fall? If I refinance, will that mean that I will hold a loan that is more than the house is worth?
I have a lot of work to do on the house. I can save a buttload of money doing the work myself, assuming I can afford the materials and the time. Some of the work is just too big for me to consider, like framing a second story and new roof, or a complete reinsulation/re-siding of the house, or replacing all the windows.
I'm entrenched. Pull back to just getting the front porch done. One piece at a time.