New York City schools shut down and indoor dining could be next, two tales of the coronavirus and the gym business, and a look at cryptocurrency and CRE.
New York City and the Pandemic
Some real estate investment trusts (REITs) reeled after New York City Mayor Bill de Blasio shut down the city’s schools, pushing back hope that the deadly impact of the virus on the economy here will be going away anytime soon.
It’s up to the governor in this case, but there are indications that the city’s restaurants could soon be hit with a shutdown order for indoor dining, too.
Why it matters: This is just one market, but it’s the biggest. Similar measures could follow around the country as the plague of COVID-19 deepens. Be safe and smart, both with your investments and your health.
Coronavirus Hammers Gyms, but There Could Be Solutions
Two more gym chains have gone under because of restrictions made necessary by the coronavirus. Millionacres’ Maurie Backman shares some inspiration that could help others scrape by.
CNN tells the story here of a Virginia gym with an environmental engineer client who designed a ventilation system that seems to have really worked.
Why it matters: Both these cautionary tales contain hope in the form of creative ideas, like an air ionization system, that could spark the same for real estate investors and property owners looking to make the most of this very bad situation.
Cryptocurrency to the Rescue?
Financial pressures brought on by COVID-19 could create more incentive for property owners to consider a different way of raising capital: offering digital securities in their real estate assets. Think bitcoin.
Why it matters: This Bisnow piece lays out how cryptocurrency could be used to more easily allow investors to take a stake in CRE properties and compares it to the concept behind REITs. It’s an interesting take.
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