Never waste the opportunity offered by a good crisis. — Niccolo Machiavelli
REAL ESTATE NEWS — Here’s what may be the best intellectual analysis of a public health crisis: The Simpsons. #losangeles #realestate #coronavirus
Cascade of Crises: Today’s crisis leads to tomorrow’s crises. When a crisis occurs, many animals, including humans tend to panic, causing additional problems, sometimes more severe. Often these offshoot problems can be life threatening, such as suffocation deaths caused by sudden crowd panic stampedes. We’re fortunate that a toilet paper panic has been the most notable offshoot crisIs, but the U.S. may end up with serious economic and social damage caused by shutting down a large section of the economy. Some cascading crises can lead to massive tragedies such as World War 2, which was an off-shoot of the Great Depression. We can avoid panic ourselves, but the only way to cope with the panic of others is by being prepared with extra resources. That’s why keeping an extra stock of cash (including dollars, gold, silver and bitcoin), food, water, household supplies, first aid and other resources is basic common sense, and ultimately a necessity. This is just one more reason why it’s also common sense that most in the Greater Los Angeles Area have a plan for financial independence that includes real estate, with a suggested goal of $10-$20 million in assets, including $1 million in cash.
Reader Questions:
Q: What is happening with downtown los angeles corona vires? A: Downtown Los Angeles has undergone a shut-down of non-essential business and gatherings. Social distancing guidelines have been enacted, including closure of many social accommodations and amenities.
Q: Is los angeles real estate coronavirus a problem? A: Coronavirus has presented a challenge for the local economy by dramatically reducing the number of new real estate transactions, which had already dropped as much as 75% from the market peak a couple years ago in Downtown LA.
The L.A. Loft Blog is focused on reducing the negative economic impact of the current health crisis by uncovering hidden opportunities while helping to avoid mistakes.
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