In his most recent letter, economist Peter Linneman presents a compelling case for an erratic recovery for at least the next 6 months. As the distribution of the vaccine is met with headwinds and the time lag between effective distribution and dissipation of the fear factor, congregating in any substantive way seems all too distant. He anticipates the recovery will follow the random flight path of a butterfly, rather than the true trajectory of a migratory bird. The perfect storm of botched distribution and a new more virulent strain of Covid that is many times more contagious does not bode well for a speedy recovery in 2021. The mathematics of exponential increase in contagiousness from the new strain could portend frightening consequences when we are even on the verge of containing the pandemic.
In the meantime, he explains, this is the ideal time to take stock of what 2021 is bringing. In the January 6th Walker Webcast, he shares his thoughts on bigger office space, the future of multifamily, how assets are changing and more.
Watch the full interview with Walker & Dunlop here.
Check out the Linneman Letter here and the connect.media article here
This too will pass, but it may take another 6 -9 months before we are in the clear.
Stay healthy and stay safe. ~Corion Enterprises