Economic activity contracted sharply in second quarter 2020 due to COVID-19 shelter-in-place restrictions, but then rebounded as the economy re-opened during May and June. Putting the health crisis in a historical context, neither the Great Depression nor the Great Recession nor any other recession over the past two centuries caused such a steep, sudden economic decline. The strength and pace of the recovery are unknown because they depend on health outcomes that allow or impede the complete re-opening of the economy. Barring a second wave of the virus and another economic shutdown, 2Q2020 should represent the worst of the economic slump.
Read more...Texas Quarterly Apartment Report 2Q2020 via Real Estate Center