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This Recession Will See a Faster Race to the Bottom for Prices, Analyst Predicts

In the COVID-19 downturn, the buyer pool is getting smaller more quickly, he wrote. The eventual floor for prices will be driven by the status of property income, investor perceptions and economic fundamentals, he wrote.

A senior vice president at Real Capital Analytics says the drivers in the current economic downturn are different than the ones that spurred the global financial crisis more than a decade ago.

Jim Costello wrote in a post this week that “warning bells” were going off years before the housing market collapse in the last recession, but the downturn sparked by the COVID-19 pandemic “came on suddenly.”

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Ryan Tarinelli

Ryan Tarinelli

Ryan Tarinelli is a reporter at the New York Law Journal. He is based at the New York State Capitol in Albany, New York. He can be reached through email at [email protected]. Follow him on Twitter: @ryantarinelli.

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