Then and now: Lessons from 100 years ago
We’re now well into this year’s global COVID-19 pandemic, with no clear signs of when things will turn around. The scientific community continues to pursue a safe and effective vaccine, with billions being invested to discover the right balance for widespread manufacturing and distribution. Meanwhile, property markets continue to react — particularly in those property types whose tenants have been most severely and negatively affected (hotels, retail and nursing homes).
Most of our readers are anxiously awaiting third-quarter performance numbers, while valuers continue to seek clarity in a murky market clouded by a dramatic falloff in comparable sales data. Most industry observers anticipate writedowns, though few can say how deep those writedowns are likely to be or how quickly values will eventually rebound once the worldwide shelter-in-place mandates have been lifted and business gets back to some new semblance of normality.
The only comp most of us have to re