3Ways to Stay Profitable, Productive, and Pandemic- Resistant CHANGING YOUR INVESTING STYLE, NOT YOUR GOALS, CAN LEAD YOUR BUSINESS BEYOND 2020

by Tom Olson

By earlyMay, most analysts and even many public health experts agreed the American public and the Amer- ican economy could not take much more of the stay-at- home mandates and mandatory business shutdowns that resulted from COVID-19. The U.S. economy was shrinking at a faster rate than it had since 2008, when the world’s largest economy fell off at an annual rate of 4.8 percent. The government was borrowing trillions of dollars, bailing out entire states, and sinking interest rates to nearly zero. Moody’s chief economist Mark Zandi described the de- cline as “off the rails” and “unprecedented,” while most economists agreed U.S. business activity and growth would contract by 30 percent more by June. Things were, indeed, off the rails, and the lasting im- pact remains to be seen. Nearly 15 percent of Americans say they will never feel comfortable in public again. The nation’s airlines and the entire air travel industry will almost certainly feel like an alien landscape when gates reopen at the nation’s busiest airports. Analysts compare the effects of COVID-19 on the travel and hospitality sec- tors to that of 9-11. Things may never go back to “normal,” and that will be true for real estate as well. However, that does not have to be a death knell for your real estate investing business! You have the power to make changes and save your business.

30 | think realty magazine :: july 2020

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