Corona diary - 19.3.2020 Israel: 12.3.2020 - Announcement of closed schools (from grade 03...
Corona Journal - 19.3.2020
Israel:
12.3.2020 - Declaration of disabled schools (fourth grade)
March 14.3.2020, XNUMX - Mass attack on writers and emptying of canning shelves and toilet paper.
March 15.3.2020, 10 - Today, more than XNUMX people have been declared in a country. Schools, kindergartens / kindergartens have closed, as well as all recreational and leisure areas - theater, cinema, gyms, restaurants, pubs and everything related to social life.
Kindergartens, and nurseries are disabled.
From who can be sent to work from home.
In many other businesses - no public reception.
March 17.3.2020, XNUMX - As a result of going out and spending time in parks, playgrounds and the sea, a new message has emerged - leaving home only if needed. But there is no enforcement.
March 18.3.2020, XNUMX - Land games are wrapped in a movie (like a crime scene like that), you can't enter nature reserves and parks in general. People seem to be attentive to the guidelines and there is less traffic in public places.
There is talk of general closure…
Indianapolis (and some US):
11.3.2020 - President Trump announces stop flights from most Western European countries. And within a few days of stopping all over the EU.
March 15.3.2020, 5 - All Marion County schools (the one that includes most of Indy) close by April XNUMX.
March 16.3.2020, XNUMX - Everything about social life and places of entertainment has been closed.
The district offices are closing for a crowd.
Trump declares that there is no gathering of more than 10 people (probably not enforced).
March 17.3.2020, XNUMX - Countries announcing closure of bars, restaurants, entertainment venues, etc. (don't know if it's sweeping for all cities, or just the main cities) - Pennsylvania, New York, Connecticut, New Jersey, Ohio, Illinois, Massachusetts, California, Washington , Michigan, Indiana.
More than 30 U.S. states have announced the closure of the school system.
Real Estate:
March 15.3.2020, 0 - The Federal Reserve announces a 3% interest rate cut for banks. Which makes mortgage interest rates 3.5-XNUMX%… which is very attractive.
March 18.3.2020, XNUMX - Home sales - There is still nothing very definite, but all sorts of areas (such as Southern California, for example) are reporting a drop in the number of homes, so homes offered for sale by realtors may be because of the severe restrictions California has. There is no significant change in Indianapolis, except that all kinds of people report the withdrawal of buyers from deals already under contract, due to uncertainty.
Announces - There are no more evictions and home foreclosures in the entire US by the end of April.
The governor of New York is considering a closure.
Let's see what this day brings us.
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There are quite a few real estate investors who are currently asking themselves, what will happen now ???
Will there be a drop in prices, or just a shuffle?
Do I have to hit the market now with all my might or wait a bit and see if prices really fall?
Some things to think about:
* Airbnb and short-term vacation rentals - these are the first casualties. No flights, no tourists, countries close the borders, no traffic in general…
* Real Estate Investments - Due to the closure of schools, restaurants and all places related to social life, due to the reduction in the volume of work in many businesses - people were fired or released to their homes free of charge.
No paycheck = No paycheck money.
There is a situation that there are renters who can not pay the rent, plus no more evictions in the courts - a celebration!
* Flippers (and new home builders) - What will happen to a remodeled property that will be on the market in a week / two?
A few scenarios:
- A very slight drop in price (because there will be fewer buyers, but the interest rate on mortgages is lower than what would urge the people to buy properties), so there will still be a possibility of profit.
- A more dramatic drop in prices that will result in little or no profit for sale.
- New restrictions are coming out every day!
For example, a quarantine area of San Francisco. Yesterday we talked about such a situation for New York as well….
Because of the great uncertainty about the actions of the authorities, it is difficult to predict where real estate is going.
I happen to be in both the real estate and flip markets - so I'll know very soon, how it affects both of those areas.
Come on, let's go through that too!
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