December always seems to be a time of waiting. Whatever happened during the year, we think it will change in January. This year many of us have that feeling even stronger than in the past. New election, vaccine, end of eviction moratorium. Come on January, February, March, we need the changes you’re bringing. Don’t extend that eviction moratorium, don’t delay those vaccines.
Oh yes, and one more thing: property owners, we need you to put your properties up for sale, at reasonable prices! Well we can wish for it anyway.
The optimists are saying once a certain critical mass of the population gets vaccinated, we’ll be travelling and spending, businesses will be 100% open, and we’ll have a mindset of making up for lost time. Great for the economy, great for multifamily. But will the urban exodus continue, stop, or possibly reverse? Many of us prefer the cities, some move to the cities to be close to the job they like, and now those people may not need to stay in the city. Some will, though, and when office space sits empty, new businesses will negotiate great lease terms in the urban core, and jobs could migrate back to the cities. Zoom and Teams are great but there’s no substitute for face-to-face communication and collaboration.