Getting back to “Business as usual”

June 24, 2020

At this immediate point in time, like no other in history, simply getting any real estate deal financed should be considered a major accomplishment. It has been challenging to get deals funded and will continue that way for the near term until there is a vaccine for COVID-19 and jobs lost through the pandemic come back and bring a return to single-digit unemployment. The Fed deserves a much credit for stepping up in a big way to buy bonds and equities and shoring up the capital markets. There is no question; major lessons were learned from the Great Recession. The Fed has acted swiftly and logically and by supporting the capital markets has provided a needed sense of hope and optimism as we move into the next phase of recoveryIn the mean time, there has been a definite pause in the lending action due to the immediate shock caused by COVID-19. Since then, bankers have focused on managing loans already on the books and processing a multitude of PPP applications. 



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