“But it’s cool to watch the real estate community come together because everyone understands we have to be careful.” At Liz Moore and Associates, Moore said
What effect could a coronavirus pandemic have on inflation in the US? What about the real estate market?
I would theorize that months of exclusively online shopping will mean many businesses won’t seek to return to those overpriced monthly commercial space rents and leases….. consumerism will have taken a different tack, and many consumers won’t want to return to the less convenient in-person shopping. This would mean massive widespread devaluing of currently grossly inflated commercial real estate. Which would mean the developing, flipping, laundering, casino gameplaying parties the rich have made of cities would be over, finished, done. No more selling a corner Chevron station lot for 77million, to build spaces no one will be able to afford (and can’t afford now). Which could very well mean flattening of all real estate bubbles, and a return to more normalcy and dare I say, affordability to merchant and resident renter alike. Covid19 could be a great leveller, since former gouging, outrageous prices and rents, constructing tens of thousands of dwelling units that just serve as twinkling towers of empty safety deposit boxes for the fatcat players, well, that’s no longer going to fly.