Nearly 40 real estate economists and analysts feel the COVID-19recession will impact real estate markets and values less severelythan the 2008 financial crisis—except for retail and hotel realestate.
The economists predicted there will be a $275 billiondecrease in real estate transaction volumes in 2020, according to asurvey in May by the Urban Land Institute. But they expectedtransaction volumes to rise over the next twoyears, which would create a healthier capitalmarket compared to the 2008 Great Recession.
"Real estate economists expect that while the top-line economicimpact of COVID-19 will be much worse than the global financialcrisis, US real estate market fundamentals and values will faremuch better," said William Maher, a leading member of the UrbanLand Institute, in prepared remarks. "Only retail and hotel areexpected to suffer a worse outcome."
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Angela Morris
Angela Morris is ALM Media's Texas litigation reporter. She covers lawsuits in all levels of Texas state and federal courts. Based in Austin, Morris earned journalism and government degrees from the University of Texas at Austin in 2006, and since then, has worked primarily as a reporter and writer, but also has skills in videography, photography and podcasts. Follow her on Twitter at @AMorrisReports.
