COVID-19 is resulting in very real human, social and economic impacts. Historically, reduced population mobility during epidemics has had a greater economic impact than the illness itself.
The COVID-19 pandemic has forced some states to impose strict stay-at-home orders that are adversely affecting many industries. This is leading the U.S. economy into a recession that will result in very sharp declines in GDP for H1 2020 and in job losses, particularly in the retail, food & beverage and transportation sectors.
Survey respondents believe that hotel, retail (particularly destination, lifestyle, and entertainment retail that depend upon more than 10 people gathering closer than six feet apart), and resort residential are the segments that are getting hammered now, and likely will take some time to recover.
In 2018, stock markets suffered their worst since 2008. But now several warnings signs are showing red flags in the market – causing some analysts to predict a 70% correction this year.
Multifamily rent collections were expected to be low due to a historic spike in unemployment. However, as of April 19th, 89% of apartment households made a full/partial rent payment, only slightly lower than 2019’s rate of 93%. More residents are choosing to renew their leases instead of vacating, helping preserve property occupancy.
The living sectors are generally viewed to be more resilient in the face of a downturn; however, the different sub- sectors have very different characteristics. Multifamily is usually considered to be the most resilient sector and this is being supported, at least in the short term, by various income-protection schemes.
Provide a platform for real estate investors of all experiences to network and get deals done
Provide a place where investors get education in topics they desire
Provide a broader perspective on mindset, eliminating limiting beliefs and entrepreneurial growth
Network! Network! Network!
While the meetup will have a specific concentration on multifamily, investors from all asset classes should attend. The general concepts (flipping, buy and hold, cash flow, etc) cross all investment types. Let’s get together, network, get to know each other and brainstorm!!
Become An Underwriting Warrior:
Are you struggling with underwriting deals and evaluating potential investments? This bi-weekly underwriting class event hosted at 8pm EST on Tuesday evenings is just what you need to take your skills to the next level. Led by XSITE team member, Emanuel Awasom, this event will provide a comprehensive deep-dive into underwriting, from the basics to the most advanced techniques.
Investors of all levels are encouraged to join, from beginners looking to build a strong foundation to experienced investors seeking to refine their underwriting skills.
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For months now, we’ve been hearing the talk of a possible recession thanks to the current state of the market with high interest rates and