Real Estate During COVID-19
Real estate during COVID-19 is suffering. Cody Faller had the pleasure of being interviewed by Louis Amaya with Capital Markets Today recently. They discussed the increase in unemployment we saw in April from 4.4% to 14.7% – the largest one month increase in history. It’s forecasted that May could reach an unemployment rate of 20-25% which would be equivalent to the Great Depression rate.
To top these stats off, economists think that 40% of these job losses will be permanent. Regardless of where these numbers land, there’s no doubt that mortgages will begin to default.
Highlights from the Podcast:
- 03:20-05:16 Some impacts of today’s unemployment rate and COVID-related market volatility
- 05:58-08:28 Re-performing loans and cash flowing portfolio insights
- 12:08-14:36 Faller Financial before COVID-19 and today
- 16:30-21:23 COVID-19’s impact on Faller Financial’s buy box
- 22:10-25:14 Differences between the Great Recession and the COVID-19 pandemic
- 26:32-30:03 Opportunities in the next 12-24 months
- 31:08-33:18 Cody’s thoughts on the U.S. economic outlook