REAL ESTATE NEWS | Blog Video
As some older Americans are hit by deadly flu-like illnesses, we’re not seeing a significant increase in total deaths as a percentage of the population. The big impact is to be found in society and the economy. The future of real estate is in peril as young Americans now feel that all of their plans were ruined by the virus panic of 2020, according to The Guardian. The hysteria has led to economic collapse, worsening existing economic hardships, causing unemployment to triple for young adults – and has taken a serious toll on mental health. As the L.A. Loft Blog predicted, the overreaction is already causing far more damage than the disease. Sadly, the deadlier toll of panic shall get much worse, as millions defer basic health care, and millions of others have no idea what they’re doing right now, as they lose their jobs and health insurance. They’re maxing out credit cards to pay for bills and food.
The mainstream media, meddling politicians and social media monopolies continue to spread fear and hype, while failing to provide adequate mitigating disclosures about comorbidity, utterly failing to account for dire unintended consequences and massively censoring those who oppose hysteria and destructive lockdown. Doctors are paid extra to annotate assumptions that promote fear, fired for providing information that reduces hysteria. Hotels, restaurants, travel, tourism, entertainment and other service industries that hire a bulk of young adults are all but obliterated. In addition to today’s economic devastation, the long-term consequences of diminished education shall haunt the U.S. for decades.
While some have high hopes for the new year and new vaccines, U.S. economy will likely get worse before it gets better. Ned Davis Research says that the first quarter of 2021 will be rough.
As bloated governments take advantage of fear to grow bureaucracy uncontrollably, the best housing markets shall be capital areas like Sacramento and Washington D.C. Suburbs shall retain a robust property market while urban centers like Downtown Los Angeles shall continue to languish in exploding blight and falling home values. Eventually, even most suburbs shall also hit a wall, leading to some falling prices among single family homes. 2021 could be the year of overdue stock market capitulation and suburban surrender.
Commercial real estate is devastated nationwide, especially in Los Angeles. It can take years for commercial real estate to unwind, to continue to fall to its bottom. Shortages of food and household products evidence growing stagflation. Increasing government handouts are likely to land as direct increases to inflation.
While real estate continues to be a pillar of wealth and net worth in the American dream, the L.A. Loft Blog had the audacity to suggest that multiple property owners consider selling excess properties in order to put substantial money into Bitcoin. Those who took such a bold, innovative step saw their fortunes gain tremendously. We’re restating the suggestion once again today 🙂
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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, BRE 01889449, MPR Funding Inc NMLS 2000513. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.