10/12/2021
USA
More than 300 cases of coronavirus were reported in the United States in early March, according to the New York Times. Although this number was small, it is still increasing rapidly. According to experts of the Globaltrademag portal, the American real estate market is still unchanged. So far, investors can use the reduced interest rates in the banking system. Although the number of cases will continue to rise, it is unlikely that the US economy will. By the way, the spread of the coronavirus is becoming a new obstacle to luxury real estate in cities such as New York, Miami and San Francisco. At a time when the government government has suspended the entry of foreign nationals who have been using China in the past 14 days in an effort to stem the spread of the virus, it could impact the housing sector by blocking agents' access. After all, a significant part of the buyers were precisely of Chinese origin.
Europe
Unfortunately, Europe is going through hard times right now. First Brexit, then the trade war and finally the COVID-19 coronavirus pandemic. At the moment, Italy has suffered the most, which is now under the strictest quarantine. Actually, that is why the sales of real estate, both residential and commercial, have practically stopped here. If the situation with the coronavirus does not stabilize in the near future, then the world economy, including European countries, will quickly slow down, which will entail an increase in unemployment. People can no longer pay off their debts on loans, especially on mortgages. Thus, many analysts predict a recession in the US and EU countries, similar to the 2008 financial crisis. In general, we can conclude that almost all countries (to a greater or lesser extent) have been affected by the coronavirus. There is no doubt that the global economy will change, but it is not yet clear how exactly. That is, only time can put everything in its place and confirm or refute the forecasts of world experts.
