"After years of strong fundamental performance, the COVID-19 pandemic injected a huge amount of uncertainty and volatility into multifamily," a team of Yardi Matrix researchers reported.
Fitch Ratings latest report shows the country's mortgage market is well positioned to withstand forbearance programs now, but that a second wave of COVID-19 could bring instability.
Employees want to be back in offices to stay connected to colleagues—and demand will increase for lower-cost, more accessible suburban offices with greater space for social-distancing, says Black Creek Group.
Even with more intensive cleaning, the less-contact approach to combating the virus may lower hotel costs, the executives said, especially if front desk staff is reduced in favor of cell phone check-in procedures.
"If the flaring pandemic causes further slowing in states reopening and reinstituting lockdowns, that would present a headwind to the recovery," according to the chief economist for JLL.
The suburbs around the windy city are well positioned to meet the changing needs of tenants, landlords and businesses in the wake of the COVID-19 pandemic.