The Paycheck Protection Program, a $350 billion government effort to help small and medium-size businesses weather the coronavirus pandemic, is hitting its funding limit less than two weeks after it was launched on April 3. "At the present run-rate, we're going to be out of money," Lawrence Kudlow, ... READ MORE >
Real estate
Construction sector uncertainty shows up in labor, loans and demand data
Slow and uncertain—that is the state of the construction ecosystem right now. The unstable environment for builders has resulted in huge layoffs for their workforce, a disproportionate amount of loans taken under a new SBA lending relief program and a downturn in demand. Many states have shut down all ... READ MORE >
How the real estate sector can weather an economy that has all but ground to a halt
In the real estate industry, the first of the month holds a certain significance – after all, it’s when rent payments are due. But this April 1 is quite different, coming amid the steep economic downturn caused by the coronavirus pandemic. Landlords are girding for the very real prospect that the ... READ MORE >
Between a rock and a hard place, retailers ask to stop paying rent to survive
In a move for self-preservation, retailers are demanding that their landlords withhold or slash rent in the coming months as stores have closed to slow the spread of the coronavirus. Even before the onset of the virus, retail was already experiencing bankruptcies and store closures as consumers migrated ... READ MORE >
Can hotels become hospitals? Thinking creatively about how to put empty space to work
Hotel companies in the United States are imploring Washington for relief amid the escalating cancellations because of the coronavirus pandemic. Industry leaders face seemingly impossible decisions as revenues have all but disappeared while significant fixed expenses remain. Chief executives from the ... READ MORE >
Housing was set to soar. Then the coronavirus hit.
Just a few weeks ago, the housing market was poised to take off. Home builders had changed strategy to focus on entry-level homes to serve a growing need in the market. Permits and housing starts were at 10-year highs. Wage growth and unemployment were strong. Interest rates were down to 3.5%, bringing ... READ MORE >
As coronavirus spreads, pain goes beyond the hospitality and travel industries
As the human and economic toll of the coronavirus mounts, the real estate industry in North America is wondering where it can safely place its bets. The hospitality industry has taken the brunt of the hit so far, but other sectors of the economy have been nervously watching as the events ... READ MORE >
How ESG is affecting the real estate and construction industries
As public pressure builds for industries to adhere to environmental, social and governance standards, the real estate and construction industries are no exception. The European Union, for example, has passed many regulations that require proper ESG planning and disclosures for real estate ... READ MORE >
Betting that size matters: Macy’s closures on trend in retail
The number of store closings in the retail industry is widely publicized. Many media outlets cite data published by Coresight Research, which tracks store openings and closings in the retail ecosystem. Closings reached a record high of 9,302 in 2019, and 2020 is off to an equally troubling start, as ... READ MORE >
Hospitality industry braces for the worst as coronavirus spreads
As the human and economic toll of the coronavirus continues to mount, the hospitality industry is bracing for the worst. On Jan. 30, the World Health Organization cautioned against non-essential travel to China after declaring the outbreak a public health emergency. Major airlines quickly responded, as ... READ MORE >