Yield Pro (June 3, 2020) -- As cities, counties and states begin loosening lockdown orders and allowing non-essential businesses to open, apartment owners are weighing strategies to ride out the economic disruption caused by the COVID-19 pandemic and finding slivers of positivity amidst the uncertainty.
Consumer sentiment in Q1 2020 saw the largest decline ever recorded in US history and the government responded with the largest ever stimulus payout, the $2 trillion CARES act, with the bulk of the funds allocated for individuals and small businesses and a slightly lesser amount to support large corporations and government.
One sure fact emerging from the pandemic is that the subsequent global economic downturn and US recession triggered by the medical crisis is much deeper than the recession of 2008.
RealPage, Inc. chief economist Greg Willett puts the situation into perspective. “Nine million jobs were lost in 2008/09, but almost all jobs gained over the past decade were lost in one month in the current downturn,” he said.
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