NYC Real Estate in a New World with COVID-19
Update: 2020-03-24
Description
On our show today: Agents are seeing home sales fall as panicked buyers back out of deals and sellers hesitate to invite strangers into their home for showings, The Wall Street Journal reports.
The virus strikes the city at a particularly unfortunate time, halting home sales at the time when they would normally be at their peak.
But unlike previous drops in home sales, like during the subprime mortgage crisis of 2008, this is not expected to last nearly as long. Demand for housing was especially strong before the coronavirus hit the U.S., thanks to favorable demographics and strong employment. Hope was there.
Also today: the panel will give us an update on their daily activities and what they are doing to weather this storm which can go on for months to come.
The virus strikes the city at a particularly unfortunate time, halting home sales at the time when they would normally be at their peak.
But unlike previous drops in home sales, like during the subprime mortgage crisis of 2008, this is not expected to last nearly as long. Demand for housing was especially strong before the coronavirus hit the U.S., thanks to favorable demographics and strong employment. Hope was there.
Also today: the panel will give us an update on their daily activities and what they are doing to weather this storm which can go on for months to come.
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