Dow is down 1000, 10 year is falling off a cliff, but people are still paying rent!
I do worry that this virus is going to bring the global economy to a significant slowdown, but will this hurt real estate?
My thought is inventory is tight and rates are gowing lower. I see US real estate getting a bump as stocks tumble this summer. What say you??
It's probably better to watch job growth/shrinkage and retail spending vs the Dow which is speculation.
It’s going to take longer for the job numbers to work through the market than the interest rate. 10 year hits all time low today. I guess my question is will low rates help housing this summer? Does a 4% drop in the market indicate that this virus is going to shut down the global economy as falling gas prices would suggest? Will the US housing market be insulated from a global recession. I like the job market as the lead indicator and will follow that number
Hopefully we can dodge this virus and they don’t start throwing us in metal boxes like China
This is a blip in my opinion. Overreaction due to 24 hour new crisis, fearmongering, etc.... Coronavirus will be a non-issue in 2 months and economy back to humming long. Check back May 1st. Old news by then... I hope! :)
Stock market days like today are just reminders for why we all invest (and diversify) with real estate...strong returns, less volatility, more control.
I actually see real-estate as ‘less controllable’ once it is acquired, which is a good thing - unlike stocks, which we can buy and sell based on how bullish or bearish we feel that moment.
CNBC just said avg 30 year mortgage Down to 3.34. That should be good for real estate prices. Maybe time to try and refi something.
Just locked in a cash out refi today and was happy with the rate news!!
I worry more about mice than I do the stock market when it comes to my rentals ;)
Market responds emotionally. Expect a wild ride as we get closer to the election. Just keep in mind stock market value does not equal recession. That being said if consumers are spooked and stop spending money, that could tailspin the economy.
As someone in the medical field (pharmacist) I can tell you that the coronavirus is a big public health issue but one that I doubt will rattle the global markets permanently. As another case study, the Spanish Flu of 1918 led to 675,000 deaths in the US alone. The stock market then went on to the roaring 20s with amazing growth.
@Matt M. 30 traps and never did find a mouse. The thing must have died somewhere in the house. Real bummer. The wife finally quit talking about it so that’s a plus.
@Tadeh Vartanian . Great point. Everything that’s happened has happened before. We were planning a Mediterranean cruise with family this summer but that’s on hold now. It’ll be interesting to see what the effects on travel have on a global economy.
I’m glad you got my joke and took it well
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