{"id":28633,"date":"2020-07-23T00:10:44","date_gmt":"2020-07-23T00:10:44","guid":{"rendered":"https:\/\/www.polarislane.com\/?p=28633"},"modified":"2020-07-23T00:21:24","modified_gmt":"2020-07-23T00:21:24","slug":"covid-19-market-impact","status":"publish","type":"post","link":"https:\/\/www.polarislane.com\/covid-19-market-impact\/","title":{"rendered":"COVID-19 Market Impact"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"28633\" class=\"elementor elementor-28633\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-35facc9 elementor-section-content-middle elementor-section-height-min-height elementor-section-full_width elementor-section-height-default elementor-section-items-middle\" data-id=\"35facc9\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\" data-e-bg-lazyload=\"\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e801385\" data-id=\"e801385\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-566c4b1 elementor-widget-divider--view-line_text elementor-widget-divider--element-align-center elementor-widget elementor-widget-divider\" data-id=\"566c4b1\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.20.0 - 10-04-2024 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100%;-webkit-mask-repeat:var(--divider-pattern-repeat);mask-repeat:var(--divider-pattern-repeat);background-color:var(--divider-color);-webkit-mask-image:var(--divider-pattern-url);mask-image:var(--divider-pattern-url)}.elementor-widget-divider--no-spacing{--divider-pattern-size:auto}.elementor-widget-divider--bg-round{--divider-pattern-repeat:round}.rtl .elementor-widget-divider .elementor-divider__text{direction:rtl}.e-con-inner>.elementor-widget-divider,.e-con>.elementor-widget-divider{width:var(--container-widget-width,100%);--flex-grow:var(--container-widget-flex-grow)}<\/style>\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t\t<span class=\"elementor-divider__text elementor-divider__element\">\n\t\t\t\tHousing Perspective\t\t\t\t<\/span>\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b01d3e1 elementor-widget elementor-widget-theme-post-title elementor-page-title elementor-widget-heading\" data-id=\"b01d3e1\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;none&quot;,&quot;_animation_delay&quot;:100}\" data-widget_type=\"theme-post-title.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.20.0 - 10-04-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">COVID-19 Market Impact<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-62fd3e5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"62fd3e5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-ce2d0ac\" data-id=\"ce2d0ac\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5b25706 elementor-widget elementor-widget-image\" data-id=\"5b25706\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.20.0 - 10-04-2024 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"450\" src=\"https:\/\/www.polarislane.com\/wp-content\/uploads\/2020\/07\/covid-19impact.jpg\" class=\"attachment-large size-large wp-image-28634\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f73c201 elementor-widget elementor-widget-heading\" data-id=\"f73c201\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">COVID-19 Market Impact<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d73bf2f elementor-widget elementor-widget-text-editor\" data-id=\"d73bf2f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.20.0 - 10-04-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\tThe Coronavirus outbreak has generated a significant amount of uncertainty in financial markets and for the\nglobal economy. The range of potential impacts varies wildly from forecaster to forecaster, but it has become\nclear that this is unlike anything the U.S. has faced in modern history.\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6b92369 elementor-widget-divider--view-line elementor-invisible elementor-widget elementor-widget-divider\" data-id=\"6b92369\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInRight&quot;}\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-509a97d elementor-widget elementor-widget-heading\" data-id=\"509a97d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Looking ahead\n<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2825fae elementor-widget elementor-widget-text-editor\" data-id=\"2825fae\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Encouragingly, the federal government is beginning to take significant steps on fiscal and monetary policy to help offset the effects of the outbreak. Congress is poised to pass a $2 trillion stimulus package that includes direct payments to Americans, expanded unemployment\/sick leave benefits, funding for hospitals, and many other provisions aimed at supporting business activity. In addition, the Federal Reserve is taking unprecedented steps to bolster the financial system including a virtually unlimited commitment to providing liquidity to several key markets including the MBS market, money market facilities, and corporate debt markets\u2014something it has never done before.<\/p><p>Low rates should persist domestically after banks, servicers, and investors adapt to the initial shock to mortgage markets. Spreads are still running roughly 100 basis points higher than normal, limiting some of the short-run benefits, but will likely revert back to historical averages over the medium term. It is also important to note that this too shall pass. Economic activity in China, which is roughly two months ahead of the U.S. in its outbreak trajectory, is beginning to see economic activity rebound. Home sales have begun to pick up as well, providing some optimism for our potential recovery if we can get the U.S. outbreak under control in a similar timeframe. If China is a reasonable model, we can expect the economy to bounce back once we are past the outbreak, but some sectors will take longer than others to recover.<\/p><p>Still, the U.S. economy still has a long way to go before the economy begins to rebound again. Despite the myriad forecasts for the depth of the current slowdown in the economy, every forecast has one thing in common: the longer the outbreak, the worse the economic impacts will be. REALTORS\u00ae are already seeing buyers and sellers holding back in the market, new listings have started to fall in areas with shelter in place rules, the second quarter is expected to contract sharply during the second quarter, and new claims for unemployment had their single-largest weekly increase in history.<\/p><p>The U.S. is clearly not out of the woods yet, but it is encouraging to see actions being taken to mitigate some of the negative economic impacts associated with the outbreak. There are still many challenging weeks and months ahead of us but real estate is poised to do well during the recovery in a low-rate environment. And, the nascent recovery in China suggests that the recovery will begin over a period of months, not years, once<br \/>the infections drop off.<\/p><p>\u00a0<\/p><p>COPYRIGHT \u00a9 CALIFORNIA ASSOCIATION OF REALTORS\u00ae<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-cdb3ef4\" data-id=\"cdb3ef4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9925e0f elementor-widget elementor-widget-template\" data-id=\"9925e0f\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"page\" data-elementor-id=\"28330\" class=\"elementor elementor-28330\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1da51c50 elementor-section-content-top elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1da51c50\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e42b99a\" data-id=\"e42b99a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-4d7a944 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4d7a944\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-765bf13c\" data-id=\"765bf13c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-eff2c22 elementor-widget elementor-widget-heading\" data-id=\"eff2c22\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Resources<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-465cebaf\" data-id=\"465cebaf\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-149a49a2 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"149a49a2\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-9d941e1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9d941e1\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-4619847\" data-id=\"4619847\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-9ec73a5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9ec73a5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-4186b71\" data-id=\"4186b71\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The Coronavirus outbreak has generated a significant amount of uncertainty in financial markets and for the<br \/>\nglobal economy. The range of potential impacts varies wildly from forecaster to forecaster, but it has become<br \/>\nclear that this is unlike anything the U.S. has faced in modern history.<\/p>\n","protected":false},"author":2,"featured_media":28634,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[191],"tags":[],"_links":{"self":[{"href":"https:\/\/www.polarislane.com\/wp-json\/wp\/v2\/posts\/28633"}],"collection":[{"href":"https:\/\/www.polarislane.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.polarislane.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.polarislane.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.polarislane.com\/wp-json\/wp\/v2\/comments?post=28633"}],"version-history":[{"count":3,"href":"https:\/\/www.polarislane.com\/wp-json\/wp\/v2\/posts\/28633\/revisions"}],"predecessor-version":[{"id":28638,"href":"https:\/\/www.polarislane.com\/wp-json\/wp\/v2\/posts\/28633\/revisions\/28638"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.polarislane.com\/wp-json\/wp\/v2\/media\/28634"}],"wp:attachment":[{"href":"https:\/\/www.polarislane.com\/wp-json\/wp\/v2\/media?parent=28633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.polarislane.com\/wp-json\/wp\/v2\/categories?post=28633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.polarislane.com\/wp-json\/wp\/v2\/tags?post=28633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}