Coronavirus | Real Estate Investing Today

COVID-19 Integrated County View Interactive Map

Brad Beckett — Wed, 04 Aug 2021 13:22:57 +0000

The CDC has a powerful interactive COVID-19 map that provides an integrated county-level view of Covid-19 infections. The CDC says it allows for the exploration of standardized data across the country and it allows for the exploration of standardized data across the country. Indeed…

Click on the map above to make it interactive

Click here to view the map on the CDC’s site.

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Paycheck Protection Program Closed to New Applicants

Brad Beckett — Thu, 03 Jun 2021 11:29:15 +0000

As of May 31, the SBA’s Paycheck Protection Program (PPP) was closed to new applicants. The Wall Street Journal reported that the program closed as funding was on track to be exhausted, marking the end of the $961 billion emergency fund. The Small Business Administration’s website officially says the PPP ended on May 31, 2021, however, existing borrowers may be eligible for PPP loan forgiveness. Offered as an SBA-backed loan program that helped businesses keep their workforce employed during the COVID-19 crisis, it was created under the Cares Act in March 2020. It offered loans that could be forgiven provided recipients used the funds to retain workers and on other allowable expenses. Indeed…

“Even after the program’s close, the agency will have another month to process loan applications that were already submitted. The SBA also has thousands of pending forgiveness requests, and millions more will likely follow.” WSJ.com

Click here to visit the SBA’s PPP information page.

Click here to read the full story at the Wall Street Journal (subscription may be required).

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Were America’s Homes Ready for the Pandemic?

Brad Beckett — Wed, 21 Apr 2021 13:22:37 +0000

A new report from the U.S. Census Bureau says the Coronavirus pandemic has made many individuals reevaluate how to keep themselves and others safe as well as changing the way they manage space in their homes. Their conclusion said there were not enough rooms in many U.S. homes for an effective COVID-19 quarantine. In fact, they also say that housing characteristics don’t just impact a household’s ability to quarantine during a pandemic, they also affect how Americans work & learn at home. Indeed…

“About 38% of all U.S. households in multi-person homes (34 million households) did not have at least two full bathrooms and enough bedrooms to keep one person completely isolated, according to the 2019 American Housing Survey (AHS)…”

Click here to read the full report at the U.S. Census Bureau.

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Understanding Covid-19’s Impact on the Housing Market

Brad Beckett — Wed, 24 Mar 2021 13:22:33 +0000

There is a new report from Zillow’s economic research team that attempts to put some understanding into the pandemics effect on the housing market. The 32-page slideshow report, “Using Census and Zillow Data to Understand COVID-19’s Impact on the Housing Market” was part of a recent webinar and contains a trove of data spanning all areas of the residential market.

Topics include:

Urban/Suburban Housing during the Pandemic
Commuting before the Pandemic
Housing and Work after the Pandemic
Where are we heading?

Click here to read the full report at ZIllow.

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Comparison of Unemployment During the Pandemic

Brad Beckett — Tue, 12 Jan 2021 12:29:08 +0000

A recent “chart of the week” from the Mortgage Bankers Association highlights the various metrics around extended unemployment during the (still) ongoing Coronavirus pandemic. They point out that the pandemic continues to impact the labor market and that total employment remains 6.5% below where it was in February, 2020.

“The COVID-19 pandemic continued to impact the labor market to close 2020. Today’s release from the U.S. Bureau of Labor Statistics showed that faster layoffs led to a loss of 140,000 jobs in December and kept the headline unemployment rate (U-3) at 6.7 percent. Total employment remains 6.5 percent below the level in February 2020, with the greatest job losses still in the leisure and hospitality sector – down 23 percent. Much of the decline last month was driven by 372,000 job losses at restaurants and bars, caused by restrictions due to the pandemic.”

MBA Sources: U.S. Bureau of Labor Statistics, U.S. Department of Labor

Click here to read more at the Mortgage Bankers Association.

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Pandemic Causing Families to Shun Nursing Homes

Brad Beckett — Mon, 04 Jan 2021 14:22:48 +0000

A recent report in the Wall Street Journal (reposted on Realtor.com) says Covid-19 is spurring families to shun nursing homes, which they say could be a long-lasting market shift. Reportedly, relatives are turning to home care due to fears of infection and additional isolation. The WSJ says that occupancy in U.S. nursing homes is down 15% (195k+ residents) since the end of 2019. Indeed…

Americans have long relied on institutions to care for the frailest seniors. The U.S. has the largest number of nursing-home residents in the world. But families and some doctors have been reluctant to send patients to such facilities, fearing infection and isolation in places ravaged by Covid-19, which has caused more than 115,000 deaths linked to U.S. long-term-care institutions.

wsj.com

Click here to read the full story at Realtor.com.

Click here to read the full story at the Wall Street Journal.

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Top 10 Housing Markets Most Vulnerable to Pandemic’s Impact

Brad Beckett — Wed, 21 Oct 2020 11:30:44 +0000

What are the top 10 housing markets most vulnerable to COVID-19’s Impact? In a recent special report, ATTOM Data looked at the U.S. housing markets that are more or less at risk of an economic impact related to the Coronavirus pandemic. Their findings showed that pockets of the Northeast and Mid-Atlantic regions were the most vulnerable in Q3, while the West and Midwest fared less risk. Interestingly, the counties least at-risk were concentrated in Colorado, Indiana, Missouri, Texas and Wisconsin Indeed…

“The U.S. housing market continues to show remarkable resilience during a time of widespread economic trouble and high unemployment stemming from the virus pandemic. But amid continued price gains, pockets around the country face greater risk of a fall, especially in and around the Northeast,” said Todd Teta, chief product officer with ATTOM Data Solutions.

Click here to read the full report at ATTOMData.com.

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CDC to Order Temporary Halt in Nationwide Evictions to Prevent the Further Spread of COVID-19

Brad Beckett — Wed, 02 Sep 2020 14:00:40 +0000

Bloomberg is reporting that the Center for Disease Control and Prevention is planning to temporarily halt residential evictions nationwide for individuals earning less than $99k/year to prevent the Coronavirus from spreading, according to an unnamed senior administration official. Bloomberg says the government is using its quarantine authority to “keep renters in their homes during the coronavirus pandemic as a way to prevent an eviction crisis that could worsen economic strains.” As this is a developing story, National REIA is closing following the issue and will keep members apprised.

“National REIA is extremely concerned about the development of this new edict and will be working toward a better resolution.” Said Charles Tassell, COO of REIA. “Make your voice heard by elected officials by clicking here.”

CNBC’s Diana Olick said an “open door for fraud” is certainly a potential issue as eligible recipients do not have to provide proof when they fill out the necessary online paperwork to opt-in to the program. The only qualifications (as of this writing) are earning less than $99k per year ($198k jointly for couples) or having received a stimulus check under the CARES Act. Stay tuned….

Click here to read the full story at Bloomberg

Click here to watch the video at CNBC.

Click here to download a PDF of the new rules from the CDC.

Click here make your voice heard!

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Pandemic Changes Plans for Renters Hoping to Buy a Home

Brad Beckett — Thu, 16 Jul 2020 11:29:54 +0000

According to a recent survey from RentCafé, the Coronavirus pandemic has dashed the plans of those renters planning to transition to homeownership this year. They report that in early 2020, 11% of renters said they were ready and planning to buy a home this year. However, the path to homeownership for 43% of those renters ready to buy has now changed due to the pandemic. Breaking down that group, most changed their plans because of economic uncertainty, followed by loss of income. The survey, which ran at the end of May, asked 7k renters about their housing plans before and after the Coronavirus hit. Indeed…

“Considering the survey results, it’s safe to say that the pandemic has had a real effect on the housing plans of most people. The general tendency is to avoid taking many risks during this period of uncertainty and to choose a more economically safer approach. This is clear across all generations, despite some of them showing more stoicism than others.”

Click here to read the full report at Rentcafe.com.

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Realtor.com’s 2020 Housing Market Predictions – Coronavirus Update

Brad Beckett — Thu, 04 Jun 2020 11:29:46 +0000

The economists at Realtor.com recently revised their 2020 Housing Market Predictions to take the Coronavirus Pandemic into account. They issued their update in in Mid-May as a way to gauge the “ups and downs” of the housing markets as it finds its footing in response to the Coronavirus. Among their predictions;

Home price growth will flatten, with a forecasted increase of 1.1%
Inventory will remain low, but the rate of decline steadies and the mix of homes for sale shifts toward greater availability of lower-priced homes
Mortgage rates remain low and may slide under 3% by the end of the year
Home sales are constrained by low inventory and diminished seller and buyer confidence as the effects of COVID linger in the labor market
Buyers seeking affordability and space drive interest in the suburbs

Click here to read the full report at Realtor.com.

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