Surveying the Carnage: How Real Estate, Travel and Music Are Faring During the Crisis

<p><span style="font-weight: 400;">The second order effects of the COVID-19 crisis are here, and they’re painful. In this episode, NLW looks at how COVID is impacting three industries:</span></p> <ul> <li style="font-weight: 400;"><span style= "font-weight: 400;">Travel and tourism</span></li> <li style="list-style: none; display: inline"> <ul> <li style="font-weight: 400;"><span style="font-weight: 400;">100m lost jobs expected globally </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">$2.7 in lost GDP </span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Airbnb lays of 25% of employees </span></li> </ul> </li> <li style="font-weight: 400;"><span style="font-weight: 400;">Music & Concerts</span></li> <li style="list-style: none; display: inline"> <ul> <li style="font-weight: 400;"><span style="font-weight: 400;">From a record $12.2B concert year to a loss of $9B</span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Expectations of concert prohibition lasting up to two years</span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Industry organizing to be included in relief </span></li> </ul> </li> <li style="font-weight: 400;"><span style="font-weight: 400;">Real Estate</span></li> <li style="list-style: none; display: inline"> <ul> <li style="font-weight: 400;"><span style= "font-weight: 400;">Commercial real estate expecting 2.5% default rate for 5+ years </span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Negotiations around sales-based payment instead of traditional rent </span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Residential sees cratering demand but home prices remain up year over year</span></li> </ul> </li> </ul>