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What Does The Future Hold For Real Estate Market - #brokermac
April 07, 2020 at 8:04am | Mac Rogers
all love to know what the future has for us. We get anxious, impatient, hopeful and just like now fearful.
Hi I'm Mac with Albert Rogers Realty, here in Castro Valley CA.
Right now our lives, our businesses, the world we live in has been drastically altered. Everyone is wondering when it will be normal again? What will that even look like? How long will we feel the effects of the coronavirus? How much or what is the real
toll this is having on us?
The emotional impact is hard to quantify and maybe be forever changed people for generations, but economically speaking this downturn will be followed by an economic expansion like we’ve seen play out in the U.S. economy many times over.
Let's look at our Our Gross Domestic Product or GDP numbers. But first what is GDP? In very simple terms GDP is a measure of a country's economic output at a certain time period or a measure of our country’s economic health.
For the second quarter of this year our GDP will see a steep decline. This is easy to see or explain since the country is practically shut down.
So that's the bad news. However a survey of three leading financial institutions shows that after this decline they are forecasting a steep rebound in the second half of this year.
There is also a recent study from John Burns Consulting, they noted that past pandemics have also created V-Shaped Economic Recoveries like the ones being forecasted, and they had minimal impact on housing prices. This is certainly gives us hope for the
future once this passes.
Here's a survey of 50 leaders from a cross section of industries done by Pricewaterhouse Coopers showing how confident they feel about our return to normal business.
A majority of them all shows a comeback. Ninety percent believe that we should be back to normal in one to three months.
As I have said in my previous videos, this won't last and clearly the experts and business leaders feels the same way.
We are all affected by the coronavirus, we can only get through this by helping each other and acting in a rational manner.
If you're a seller or buyer and have questions on the real estate market, please do not hesitate send me a message or comment below.
Stay safe and pretty soon this too will be over and we can start getting back to normal.