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The COVID-19 pandemic has left no industry untouched, including the real estate industry. Coronavirus has caused restrictions to movements, a plunging stock market, and uncertainty about future income. All of…
You should estimate the expected rental property expenses before buying a rental property. Why is this important? Because the expenses directly impact the rental property cash flow. When they are…
Most property investors are familiar with real estate investment strategies such as buy and hold, investing in traditional or Airbnb rental property, fix and flip, and house hacking. Investing in…Housing Market Forecast & Predictions
Forecast for US Housing Market 2020 to 2024 March home sales data just released from NAR shows home prices continued to rise into March. While forecasts are justifiably downgraded for the nation, it appears home prices could persist on an upward path as people return to work in the post Corona Virus Period. First time buyers comprised…
By John Ruch and Collin Kelley
Local movie theaters and bowling alleys are joining the voices of concern about health and financial risks of Gov. Brian Kemp’s surprise order that they and certain other types of businesses shuttered for the pandemic can reopen within days.
Plaza Theatre owner Christopher Escobar said in a statement posted on Facebook that he won’t be reopening the historic Poncey-Highland venue.
Escobar said: “While we’ve been hurting being closed, this certainly comes as a rather last-minute surprise. I honestly didn’t think we would be allowed to re-open until June. While nothing would make me happier than all of this being over and getting the “all clear,” other than there being political pressure, I haven’t seen anything of the sort. I have only seen the first sign that cases and deaths in Georgia are just barely starting to level off—much less go down–but I’m not a public health expert. I just know I’m not getting an indication from actual public health experts that re-opening is a good idea.”
Escobar said he was concerned that promised relief dollars would suddenly disappear now that cinemas were being “allowed” to reopen. In the meantime, Escobar said the Plaza is moving towards opening its own digital platform for patrons to stream movies at home and setting up a drive-in theatre as well.
Brandt Gully, owner of the independent The Springs Cinema & Taphouse theater in Sandy Springs, said he was “just kind of stunned and not sure what to make of it” and that “it doesn’t feel right” to reopen. It also doesn’t make sense in the most basic way, Gully said: “One of the issues, and it’s not the main issue, but we don’t have content. There are no new movies.”
“It honestly — it really puts us in a tough position,” Gully said about Kemp’s announcement. “I’m sure there’s intent there for the government to throw us a lifeline here and allow us to reopen. But truthfully, I don’t really like the position I’m in. I closed before I was required to close for the same reason I likely won’t open when I’m allowed to open.”
“Obviously, I have some significant concern over opening, and I think for certain we wouldn’t be opening on Monday,” said Gully, who closed the doors of his theater on March 17.
Justin Amick, president and CEO of the company that operates Buckhead’s Painted Pin and the Westside’s Painted Duck high-end bowling parlors, also expressed surprise and concern. “Although I couldn’t be happier to have bowling solidified as one of life’s most essential needs, I’m surprised by the accelerated timeline to be able to reopen our doors to the public,” he said.
Justin Amick elaborated on the concerns in a joint statement with his father Bob Amick, owner of the Concentric Restaurants group, which includes TWO Urban Licks, Bully Boy and Parish.
“We are scared to death about the new norms, strict limitations and guidelines that will make it impossible to be financially viable,” the Amicks said. “A rushed reopening could be the nail in the coffin for many companies. We won’t risk the safety of our staff, families and patrons, as their well-being is of the utmost importance.”
They join some other local restaurant owners who said they have no plans to reopen their dining rooms on April 27 as allowed in Kemp’s reopening order.
Kemp’s shelter-in-place order remains in effect through April 30, during which people are supposed to going out only for necessities. And while business re-openings are voluntary, it is unclear whether it will generate economic pressure to do so.
The Amicks are among local business owners who say that reopening under pandemic safety limits could mean taking on full, normal expenses but only a limited way to make money.
“We can’t wait to get back to work, but the decision feels premature,” said Bob Amick in a written statement. “Small businesses, including restaurants, bars and entertainment venues, are currently fighting for their lives due to the nationwide forced closures. On one hand, we need to be open to be able to survive, but we only have one opportunity to get it right, there are no second chances.”
The post Bowling alleys, movie theaters join voices of concern over Gov. Kemp’s reopening order appeared first on Atlanta INtown Paper.
Key highlights from this report: The U.S. housing market has slowed in response to the coronavirus pandemic. But a growing number of analysts predict a housing recovery later in 2020. Experts are also drawing distinctions between this downturn and the 2008 crash. The ongoing coronavirus pandemic has shaken the U.S. economy and slowed the housing […]
The post Experts See a Housing Market Recovery Toward the End of 2020 appeared first on HBI News.
Key highlights from this report: We are already seeing signs of a housing market slowdown across the U.S. Some buyers and seller alike are taking a wait-and-see approach. Sales have declined, and many sellers are pulling their homes off market. We expect the U.S. housing market to slow even further through spring 2020. But it […]
The post The U.S. Housing Market Will Slow in 2020, But Not Like in 2008 appeared first on HBI News.
Key highlights from this report: The U.S. is likely in a recession, and it will likely get worse. This could cause home prices to drop in some U.S. cities. Historically, Texas housing markets have been less likely to crash. Affordability and strong demand could shield Texas real estate markets in 2020 – 2021, as in […]
The post Why Texas Housing Markets Could Survive a Recession in 2020 appeared first on HBI News.
Highlights from this report: Americans have an increasingly gloomy outlook for the housing market. Home buyers and sellers alike have become increasingly worried. Economic woes, including a lack of job security, are a common concern. This is based on a monthly survey conducted by Fannie Mae. These concerns will have a negative impact on the […]
The post Survey Shows Gloomier Housing Market Outlook Among Buyers, Sellers appeared first on HBI News.
Highlights from this housing report: A report identified the most and least ‘vulnerable’ housing markets in the U.S. Real estate markets in Texas appear to be the least vulnerable to price erosion. Florida, on the other hand, has a lot of vulnerable markets. This analysis was conducted by the research team at ATTOM Data Solutions. […]
The post Florida & Texas: Most and Least Vulnerable Housing Markets in a Recession appeared first on HBI News.