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This economic event is unprecedented. While some are using the 2008 Financial Crisis as a guidebook, there has never been a public health event that has sparked an economic disruption of this magnitude. As a result, uncertainty is rampant, according to Brett Butler of Stan Johnson Co., and it is difficult to predict a path toward recovery.

“The 2008 Financial Crisis is the only comparable event that comes to mind, but that was different due to bad lending practices,” Butler tells GlobeSt.com. “I have never seen a health crisis threaten the market before. It’s hard to say how the market will react with all the uncertainty—when will businesses be able to open again? How much impact will the downtime have on the overall economy? We’ll just have to wait and see.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. He work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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