What Impact Might COVID-19 Have on Home Values?

Bill LewisEconomy, Home Ownership

Impact of COVID-19 on home values

A big challenge facing the housing industry is determining what impact the current pandemic may have on home values. Some buyers are hoping for major price reductions because the health crisis is straining the economy. The price of any item, however, is determined by supply and demand, which is how many items are available in relation to how many consumers want to buy that … Read More

Unemployment Report: No Need to Be Terrified

Bill LewisEconomy

unemployment report - don't panic

Last Friday, the Bureau of Labor Statistics (BLS) released its latest jobs report. It revealed that the economic shutdown made necessary by COVID-19 caused the unemployment rate to jump to 14.7%. Many anticipate that next month the percentage could be even higher. These numbers represent the extreme hardship so many families are experiencing right now. That pain should not be understated. However, the … Read More

Why Home Equity Is a Bright Spark in the Housing Market

Bill LewisEconomy, Home Ownership

Home Equity Is a Bright Spark in the Housing Market

Given how we have seen more unemployment claims than ever before over the past several weeks, fear is spreading widely. Some good news, however, shows that more than 4 million initial unemployment filers have likely already found a new job, especially as industries such as health care, food and grocery stores, retail, delivery, and more increase their employment opportunities. Breaking down … Read More

Economic Slowdown: What the Experts Are Saying

Bill LewisEconomy

2020 Economic Slowdown, Recovery and Home Prices

No one knows for sure. It depends on how long it takes to beat this virus. Goldman Sachs anticipates we will see a difficult first half of the year, but the economy will recover in the second half of 2020.