Labor market rebounds as restrictions begin to ease. Employers added 2.5 million jobs in May to bring the unemployment rate down to 13.3 percent, indicating the worst of the economic fallout may be behind us. Economic shutdowns resulted in job losses of 22.1 million in March and April, pushing the unemployment rate to 14.7 percent, the highest since 1948. While employment gains are very encouraging, uncertainties and a long road to recovery for America’s labor market remain, broadly impacting commercial real estate over the coming months.
Read MoreOne of the largest hurdles over the next few months will be bridging any gap between buyers and sellers. Some buyers believe that they will get steep discounts on pricing because of COVID-19. This expectation does not match the sentiment of sellers or the current data as collections remain high, vacancy remains low, and rents remain relatively unchanged. As we keep in close contact with lenders and MMCC, we have found there to be many sources for debt with the only caveats being tighter credit requirements.
Read MoreOil demand tumbles under quarantine, sending prices negative. The global health crisis has idled factories and stalled businesses, leading to a historic fall in oil consumption at a time when production was at an all-time high.
Read MoreThe sale of existing homes in March posted the largest month-over-month decline in more than four years, retreating 8.5 percent. Yet sales are up 0.8 percent on an annual basis as properties in escrow before the shelter-in-place restrictions move through the pipeline.
Read MoreCongress reached agreement on $484 billion measure designed largely to fund the Paycheck Protection Program (PPP), which depleted the original $349 billion it was allotted within two weeks
Read MoreNew stimulus incoming to beleaguered small businesses. Following the passage of the $2 trillion CARES Act in March, Congress is moving forward with an additional $484 billion in stimulus.
Read MoreApartment owners across Denver braced for what they thought would be a rough month of collections due to the COVID-19 pandemic. With many apartments in the Denver MSA occupied by service industry workers, many owners anticipated lower collections for the months ahead.
Read MoreUnemployment benefit expansion mitigates financial impact. Many throughout the nation are faced with uncertainty as COVID-19 rattles the economy and labor markets.
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