It’s impossible to predict specifically how the economy will recover when this is all over. As it stands right now, so much is on hold, and there are mere months left of this entire year already. We have already seen so many file for unemployment so far, and we have seen a steep decline in the amount of renters renting homes. With the restaurant industry out of work for the time being, a lot people are noticing less clientele. It will come back up, but we won’t see it in full swing until 2021.
Key Takeaways:
- In the next few months it is predicted that we will see the country be opened and that could be a positive or negative thing.
- After the coronavirus, the housing market will take a bit of time to rebound as will rentals. People just won’t have the same amount of money they had previously.
- After the coronavirus, we probably won’t see the economy recover to what it was before the virus for at least a year. Things will need to be repaired and it’s important to stay calm.
“While we see more of the country opening up and varying degrees of restrictions being lifted, I’m highly skeptical of the idea that 2020 will see a very sharp recovery.”
Read more: https://www.biggerpockets.com/blog/how-will-coronavirus-end-predictions-2020-economy
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