It is no news that the Corona Virus pandemic made a severe impact on every sector of the economy from the moment it hit us, and real estate remains no stranger to this fact. While it suffered its fair share of losses, the real estate market also brought forth some exciting economic opportunities.
The slowdown in the housing market caused a halt in property resales, due to which mortgage rates all over the country experienced a steady decline, making it a good time for people to invest in housing. Covid-19 also caused many homebuyers to postpone potential real estate investments, due to which property was available at lower prices. This also meant that these houses’ value could see a rise once the situation returns to normal.
However, that does not mean this came without its disadvantages. While those with a surplus to invest saw this as a viable opportunity to expand their assets, the average American could not engage due to lack of employment and pay uncertainty.
So what is your take — has Covid-19 done more good to the real estate market than bad, or is it the other way around?