News Ticker

COVID-19 News Round-up for November 20th

Credit: BKD

Economic News 

Good News in Affordable Housing 

A recent report from MRI Software offers some hope for the affordable housing sector. Rent payments last month reached past 80 percent year-over-year for the first time since June. Payments rose to 82 percent, while public housing collections dropped slightly to 94 percent, compared to 98 percent in September. Another cause for optimism is the fact affordable housing occupancy is tightening. (Source) 

COVID Accelerating Retail Impacts 

E-commerce made up roughly nine percent of retail sales in 2017, a total of $342.5B. The trend was projected to grow one percent per year. The impacts of the pandemic crisis have dramatically accelerated e-commerce growth. The most recent U.S. Department of Commerce figures show that in Q2 2020 alone, U.S. e-commerce sales amounted to more than $211.5B. (Source) 

Pandemic Forcing Tech Innovation in Real Estate 

Despite its reputation as an industry slow to adopt and implement new technologies, the COVID-19 pandemic is push real estate managers to accelerate rolling out new tech-based features. Among the innovations seeing increased implementation are robotic furniture that changes configuration as needed, enhanced ventilation and automated sanitizing technology, and app-based scheduling of amenities and common spaces to maximize distancing and minimize user density. (Source) 

Workers Want Hybrid Approach to Office 

A new survey by JLL shows that while attitudes toward working remotely have improved, workers still want office space to occasionally call home. Results show 50 percent want a hybrid remote/office combination, and 24 percent want to work in the office exclusively. JLL reports employees find remote work beneficial to concentration, and a recent S&P Global Market Intelligence Digital Pulse survey showed 64 percent of companies plan to increase remote work options. (Source) 

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