REBusiness Online – The coronavirus pandemic (COVID-19) has not only impacted the physical health of humans around the world, but the health of the U.S. economy as well. While the stock market rallied over 11 percent on Tuesday, its biggest jump in nearly 90 years, on news that a federal stimulus bill to rescue the economy from the coronavirus was imminent, the Dow Jones Industrial Average was still down 31 percent from its most recent high at the closing bell. Meanwhile, economists say weekly jobless claims — new filings for unemployment insurance — could hit 2 million or 3 million. The Labor Department will release the latest figures on Thursday morning. Before the coronavirus hit, weekly jobless claims hovered around 215,000. Though no one knows the true fallout yet — because we’re still in the thick of it.
“The impact of the crisis on the commercial real estate market has been dramatic so far, and we are only in the beginning,” says Alex Zikakis, president and founder of Capstone Advisors, a real estate investment, development and asset management company in Carlsbad, Calif. Read More