In a Special Report, available for all readers of Real Asset Day, James Wallace, distils what the current health crisis means for our industry, the subsectors and the macro economy. Looking at the economic picture. We begin with an analysis of the unprecedented interventions by governments, central banks and regulators across the US, Europe and the UK, fiscal and monetary stimulus, loosened regulations, and extraordinary state interventions to directly support specific vulnerable sectors.
Second, we try to make sense of what this all means for the real estate sector: including investment activity and capital flows). Third, we analyse the vulnerable sectors, how the fundamentals have altered, and the solutions sector specialists are considering. Fourth, we discuss the inevitability of insolvencies and restructuring to come, and the crucial role of lenders. We consider whether government emergency measures to directly support businesses with loans, grants and loosened regulations will be enough to prevent a new wave of insolvencies and bankruptcies.
The special report also includes views on the German experience during the first quarter from Blackbird Real Estate, CREFC Europe CEO Peter Cosmetatos shares his thoughts on impacts on real estate financing markets and Colliers International share the latest research on the support from European governments.