The last couple of episodes of It’s a Seb Show have dealt with Coronavirus / COVID-19 and this whole shelter-in-place business. In those two episodes, I was pretty sanguine that we would get through this experience in fine form. However, the situation continues to evolve, and it’s been credibly stated that this shelter in place business might last considerably longer than 3 weeks – like, perhaps, 3 months – or more. This begs the question: what would THAT do to the economy? Surely it would bring about a recession – but might it also cause an outright depression? If indeed 20% of people are thrown out of work, it’s guaranteed that there would be a crash in housing prices. It may not bring about waves of foreclosures, because for example HUD is stopping all foreclosures and evictions for HUD homes – don’t be surprised if there’s a moratorium placed on such activity for the short term, at least in California. But foreclosures aside, there would be a LOT of very highly motivated sellers putting their homes on the market in a compressed period of time, and of course, there would be a lot of buyers who would just sit on the fence and wait until they felt comfortable about investing in real estate for the long term. It could get ugly! Or, this could all be a tempest in a teapot. There’s no way to know for sure, because the future is uncertain. Watch this video to hear more about selling your home in the greater San Francisco Bay Area during this shelter-in-place period.
What Shelter in Place Means for Selling Your Home
Shelter in Place! Awooga, Awooga!
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