A System Shock to the Real Estate Economy
Prognosis: Misconception
Bloomberg
4.1 • 838 Ratings
🗓️ 2 September 2020
⏱️ 16 minutes
🧾️ Download transcript
Summary
The future of the commercial real estate market has been under serious question. That’s thanks to the virus itself, a potential mass migration out of cities, and the new realities of working from home. For Bloomberg’s Odd Lots podcast, hosts Tracy Alloway and Joe Weisenthal spoke with Mosaic Real Estate Partners Managing Partner Ethan Penner, who has been described as the father of Commercial Mortgage-Backed Securities.
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Transcript
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| 0:00.0 | What could you do if your data was working for you and not against you? With Bloomberg delivering |
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| 0:30.9 | Welcome to Prognosis. I'm Laura Carlson. It's day 175 since coronavirus was declared a global pandemic. Today's main story, |
| 0:42.9 | coronavirus has dramatically changed the ways we shop and work. As office buildings, stores, and |
| 0:50.3 | restaurants throughout the world sit empty. The real estate industry is fundamentally changing, too. |
| 0:58.8 | But first, here's what happened in virus news today. |
| 1:08.9 | U.S. infectious disease expert Anthony Fauci is warning that the long weekend could spur a wave of new infections. |
| 1:17.9 | Fauci said on NBC's Today Show that the country's upcoming Labor Day holiday on September 7th may lead to a rise in U.S. coronavirus cases, as has been the case with other holidays earlier this summer. |
| 1:33.7 | Fauci said a surge may be avoided if people wear masks and avoid crowded places. |
| 1:40.7 | College students should stay on campus, he said, as sending them back home would help spread the virus. |
| 1:49.7 | UK Prime Minister Boris Johnson announced another U-turn on Wednesday, keeping lockdown rules in place as COVID-19 cases rise. |
| 2:00.8 | Johnson is pushing to get Britain's back to work and school, and his team had previously |
| 2:07.5 | decided restrictions imposed in some areas of Northwest England should be eased. |
| 2:14.1 | But political opponents in the area condemned the plan, and warned infections were rising again, causing the government to back down. |
| 2:24.8 | Finally, Johnson and Johnson halted the development of a new flu drug after a study suggested it wouldn't work. |
| 2:32.5 | It's a sign of how difficult it is to create treatments for viral infections as the |
| 2:38.0 | world races to contain COVID-19. |
| 2:41.2 | The drug, Pomodivir, was in the final stage of testing for patients with influenza A, |
| 2:47.1 | the most common cause of the flu. |
| 2:49.9 | When an interim look at the data showed, it was unlikely to be |
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