Is coronavirus a new way of life–for investment real estate–or is it temporary?

Wally Smith:

All of this is really unnerving. It’s really dislocating for a lot of people. But I think the big question in the back of everybody’s mind is, is this now a new way of life for us or is this a temporary thing? And I think that’s really at the heart of what is disturbing to a lot of the commercial real estate companies and the ones putting deals together. Should we anticipate in annual quarantine or is this something that, “Well get this figured out and move on with life and we’ll be back to normal after a while.”

Rich Arnitz:
I think it’s too early to tell. I’m the type that I think that this is something that we’ll come up with. Some type of a virus, so this is like a flu that we will consistently have to deal with on this. But I do think that we’re doing a knee jerk reaction right now. I do think things will get back to normal and people want to get back to work. The economy wants to start revving back up and I think people will open it back up for business here pretty soon. So, with that there are certain aspects of real estate that you own, the hard asset itself and continues to appreciate and there are certain sectors that we want to stay focused in, especially at Rich Gate Financial as well for our clients or investors that we’ll be well positioned for the future.