The stimulus package could mitigate economic disruption from the coronavirus pandemic, experts say. "Real estate's performance is going to be a function of the underlying tenants," says Nareit's John Worth, who notes the value of the law is about 10% of GDP.
With many businesses suddenly struggling to pay rents, property owners could come under increasing financial pressure as they try to stay current on their own mortgage payments. Some landlords are thinking about offering flexible payment options such as deferred payments.
The New York Federal Reserve purchased $1.04 billion of the $1.83 billion commercial-backed mortgage securities offered by dealers Friday, leading to a decrease in volatility. The mortgage sector could face additional disruption in the coming months as tenants struggle to pay rent.
The senior housing sector is among the industries seeing harsh effects from the coronavirus pandemic as landlords are providing rent relief to operators grappling with rising costs and decreasing revenue. The industry already had been facing financial problems because of overbuilding in the past few years.
National Flood Insurance Program policyholders will have a 120-day grace period to renew their coverage after the expiration date. The Federal Emergency Management Agency is offering the extension to help policyholders who might be facing financial difficulties amid the coronavirus pandemic.
The North Carolina Rate Bureau and the state Department of Insurance are in talks about establishing a private flood insurance program, state Insurance Commissioner Mike Causey said. North Carolina, which would join Florida in offering such a program, currently has 143,000 of its roughly 4 million homeowners carrying coverage through the National Flood Insurance Program.
If you can't go straight ahead, you go around the corner.
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