Clear Thinking for Real Estate Leaders
The American economy is incredibly dynamic – even in a soul-crushing pandemic. Lost in the disheartening news about the depressing number of firms going bust and workers losing their jobs is the other side of the ledger: new and existing firms are adding millions of new jobs. I estimate about three for every ten jobs …
The preliminary estimate of second-quarter headline GDP released today was ugly if not unexpected: the 9.5% plunge over the prior quarter translates to a 32.9% annualized decline, more than three times the greatest prior quarterly fall since the government started tracking GDP in 1947. The modicum of good news is that economic output apparently bottomed …
The employment news is bad enough without reporters and pundits exaggerating the grim trends. Almost 39 million initial claims for unemployment have been filed since mid-March when the COVID-19 pandemic really started taking hold of the economy. It is probably fair to conclude that “Nearly 39 million have lost jobs in US since virus took …
The coronavirus has seized the global economy. With the number of confirmed cases globally and in the U.S. growing by about one-third per day – that is, doubling every three days – a broad range of economic activity is rapidly shutting down, either by fiat or collapsing consumer demand, dramatically compounding the supply chain disruption …
