The COVID-19 pandemic has had an unforeseen and tremendous impact on people's lives. 7.8 billion people worldwide are now living in fear, and some are under lockdown quarantine.
The uncertainty level in the economy is currently at an all-time high, with the trajectory of the recovery challenging to forecast. Global leaders are joining forces to defeat the invisible enemy. Every country has taken significant steps to try to cushion their people and economies through this challenging period.
While some businesses are facing bankruptcy, the pandemic has accelerated some companies. The demand for online shopping, delivery services, cleaning services, grocery stores, meal prep delivery services, telehealth services, had all increased. Amazon has grown it's revenue in the Q1 up to 21% higher over last year. It will be more likely to continue for the rest of the year.
No one knows how long this global pandemic will last. No one knows how businesses, like airlines, hotels, and restaurants, can tolerate the pandemic's impact. We will never know how long any recession or downturn will last.
The real-estate sector is a fantastic investment opportunity if it is done the right way, even when during the COVID-19 pandemic. It would be best if you do your homework, seek proper advice from those that have done it profitably for many years. Avoid free seminars that will later try to charge the participants thousands of dollars for information that can be found online.
"Be greedy when others are fearful and fearful when others are greedy." —Warren Buffett
Real estate is far more firm than stocks. Real estate is much less liquid, and it only takes months to sell a property. A number of economists believe the impact will be sharp and hopefully only short effect. With the massive scale of preventive measure, economic and social initiatives being taken all over the world, I remain optimistic that the pandemic will mainly pass by the end of the summer. COVID-19 sadly will leave plenty of economic damage in its wake, but the world will rebuild, and we will #HealAsOne.
I want to hear your thoughts, how do you see the coronavirus affects real estate investments and businesses? What are you planning to do?
