Real Estate News Brief: Coronavirus Repercussions, Mortgage Relief Options, Unique Home Contest
Play • 7 min
In this Real Estate News Brief for the second week of March.. we have coronavirus repercussions, mortgage relief options, and something that might lift your spirits from Airbnb.   We begin with economic news from this past week and a half.   So much has happened because of the coronavirus. The Fed cut interest rates to zero and launched a $700 billion stimulus program. President Trump acknowledged that the pandemic is “really bad” and issued guidelines to help prevent the spread of the virus. Cities across the nation are shutting down bars, restaurants, and public gatherings. Stores are dealing with panicked buyers. Officials are encouraging people to shelter in place. There’s talk of shutting down our borders and postponing the Presidential election. The stock drop has now erased about 80% of the gains seen since the 2016 election, or what was previously called “The Trump Bump.” Companies will be reporting their first quarter earnings and many are expected to miss their forecasts. The second quarter will likely be worse. And, economists are saying the recession has begun.    
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