While the COVID-19 shutdowns have hit a lot of real estate sectors hard, Pratima Damani, CEO and founder of SP Group, doesn't think housing will experience the same level of distress.
"We feel that structurally the housing market is in a sound position today," Damani says. "If you look at all the underlying factors for the housing market, you're not seeing values plummeting. You still have a very low inventory of home and record low mortgage rates. Credit quality is not compromised."
The economy is at a different place structurally than it was in 2008 when many borrowers were underwater. Now, there is a lot of equity in the market.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
