The 10 US Cities Best and Worst Positioned to Recover from the Coronavirus

 
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The coronavirus pandemic has impacted cities across the country with varying force. New York City has been hardest hit, and it’s no secret that the Big Apple is going to be one of the places that will have the most challenging time bouncing back from the coronavirus pandemic, no matter when things subside. But which cities will have the best coronavirus recovery? And which other cities will struggle? Moody’s Analytics has issued a report that examines the potential to recover from coronavirus among the top 100 metro areas in the US—and while some of the results are to be expected, some are more surprising.

“The most dynamic recoveries may well bypass traditional powerhouses and take place instead in areas that either were or were poised to lead the way in 2020 before everything changed,” writes Adam Kamins, senior regional economist at Moody’s Analytics and the author of the report.

Moody’s grouped the 10 cities best positioned to recover quickly from the coronavirus pandemic and the 10 cities with the worst chance of recovering from the coronavirus pandemic. “Note that they are sorted alphabetically in order to avoid assigning false precision to our calculations,” Kamins told Forbes Women.

Top 10: Cities Best-Positioned to Recover From Coronavirus

(Note: These are alphabetically sorted—not listed in order)

Boise, Idaho

Denver, Colorado

Durham, North Carolina

Madison, Wisconsin

Provo, Utah

Raleigh, North Carolina

Salt Lake City, Utah

San Jose, California

Tucson, Arizona

Washington DC

Bottom 10: Cities Worst-Positioned to Recover From Coronavirus

(Note: These are alphabetically sorted—not listed in order)

Detroit, Michigan

Honolulu, Hawaii

Los Angeles, California

McAllen, Texas

Miami, Florida

New Haven, Connecticut

New York City

Philadelphia, Pennsylvania

Stockton, California

Tampa, Florida

Go to Educated Minds to learn more about how this data was collected.

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We're With You.

 
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Not only are we here today with a message of peace, we are here today clearly opposed to racism and discrimination in all its forms as a direct expression of that love. We acknowledge the effects of systemic racism against the Black community in every respect. Not only do we stand in solidarity, we stand for change.

As Realtors we cannot allow our neighborhood boundaries to signify the dividing line between prosperity and death. Our history as a trade is tainted with discrimination through redlining, steering, and other tactics designed to exclude the Black community from the upsides, practices still widely documented to be taking place today.

We are committed to working towards racial equality by demanding more from our public servants and challenging the inherent biases in all of us. In our slice of the world that means educating our Realtors about the past while designing an equitable path to the future. It means listening to our colleagues, friends, and neighbors and then creating meaningful change.

 
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Additional Resources


 
 

140+ Black Owned Businesses to Support in Denver

303 Magazine | Jun 1, 2020
As the protests against police brutality continue on, it’s more important than ever to look at ways Denver can support its Black community. 303 Magazine compiled a list of every black-owned business they could find in the city limits of Denver, but this is in no way definitive and will be updated regularly.


100+ Black Owned Businesses to Support in Oklahoma

Oklahoma Black Business Directory
Research has found that if higher-income Black consumers spent at least $1 out of every $10 with Black-owned businesses, it would generate one million jobs for African Americans. The Oklahoma Black Business Directory wants to first make an effort to provide visibility into the plethora of options available in our community. Our goal is to be an easily accessible place to find Black owned businesses that offer products and services you need.


What It’s Like To Be Black In America Right Now

Colorado Public Radio | Jun 2, 2020
Five black Coloradans from different walks of life share their experience in America right now: Elisabeth Epps of the Colorado Freedom Fund; State Representative Leslie Herod; Adrian Miller, head of the Colorado Council of Churches; Murphy Robinson, director of the Denver Department of Public Safety, which oversees the city’s police, sheriff & fire departments; and poet and speaker Theo Wilson. They reflect on the protests, both peaceful and destructive, that have followed the death of George Floyd.


The Tangled Knot of Race, Class, Education, & Real Estate

Genuine Hustle Tacoma | Nov 10, 2016
Nate Bowling was honored as Washington's Teacher of the Year and as a finalist for National Teacher of The Year in 2016. He’s used his publicity to discuss education, policy, race and segregation, politics, and much more. At the Genuine Hustle Conference in Tacoma he speaks to agents about their role.


Long Island Divided: Undercover investigation reveals unequal treatment

Newsday | Nov 17, 2019
In one of the most concentrated investigations of discrimination by real estate agents in the half century since enactment of America’s landmark fair housing law, Newsday found evidence of widespread separate and unequal treatment of minority potential homebuyers and minority communities on Long Island.


Mapping Inequality: Redlining in New Deal America

Digital Scholarship Lab | University of Richmond
A set of maps that illustrate the discriminatory New Deal-era housing policies that fueled generations of urban inequality. The lines they helped draw, based in large part on the belief that the presence of blacks and other minorities would undermine property values, altered what would happen in these communities for years to come.


Tulsa Race Massacre: Black Wall Street

Tulsa Society and History Museum | Oklahoma
The 1921 Attack on Greenwood was one of the most significant events in Tulsa’s history. Following World War I, Tulsa was recognized nationally for its affluent African American community known as the Greenwood District. This thriving business district and surrounding residential area was referred to as “Black Wall Street.” In June 1921, a series of events nearly destroyed the entire Greenwood area.


The Time For Polite Conversations is Over – Black Lives Matter

Team Diva Blog | Jun 2, 2020
Team Diva stands with the protestors who are fighting for justice in the BIPOC community over the global pandemic, soaring unemployment, and anger about other recent killings, especially George Floyd, Breonna Taylor, and Ahmaud Arbery. We’ve seen widespread civil disobedience over the last week. This time it is clear that people of all walks have officially HAD IT with police violence and the inequity inflicted on the Black/Brown Community.”


How to Be an Ethical Agent in an Age of Rampant Housing Discrimination

Inman News | Dec 5, 2019
Chavi Hohm is a real estate broker and activist deeply passionate about Seattle, politics, her community, and Team Diva.

“In the wake of the 'Newsday' findings, Realtor leadership has shown that change won’t come from the top down. It’s up to individuals to make change. Realtors risk being obsolete by not changing to address racism and discrimination in our industry.”


When We Are Silent, We Are Complicit: Doing nothing isn’t an option

Inman News | Jun 1, 2020
Teresa Boardman is a broker and owner of Boardman Realty in St. Paul, Minn. She writes at StPaulRealEstateBlog.com and she is an avid photographer (her photo below).

“We created an unjust system. It took a few centuries, and now we have to fix it. If we don’t, things are going to get a whole lot worse. Doing nothing isn’t an option. Quoting Martin Luther King Jr. isn’t enough. Taking a knee and protesting doesn’t seem to be working either. I think all of us have some hard work ahead of us. We can start now.”

 

Mortgage rates hit another all-time low

The average U.S. rate for a 30-year fixed mortgage dropped to 3.15% this week

The average U.S. rate for a 30-year fixed mortgage fell to 3.15% this week, the lowest ever recorded in a Freddie Mac data series that goes back almost five decades.

The rate fell from 3.24% last week, setting a new record low for the third time in three months, according to the report.

Mortgage rates have fallen after the Federal Reserve began buying mortgage-backed securities to stimulate demand, said Chris Low, chief economist of FHN Financial in New York. The Fed has purchased more than half a trillion dollars of MBS after restarting in March a bond-buying program it used during the financial crisis more than a decade ago.

When the initial plan of buying $200 billion of MBS didn’t lower financing costs, Fed Chairman Jerome Powell said on March 23 the central bank would buy whatever was needed to move rates. It worked.

“The Fed is by far the biggest player in the mortgage markets right now, the biggest buyer of mortgages, and because of that, they have almost complete control over the interest rate,” Low said.

That means the central bank has the ability to stimulate home sales by driving rates to lows that most people wouldn’t have thought possible a few years ago, said Low.

“Every economist had doubts about how housing would fare during COVID-19, but what we’ve seen has been absolutely remarkable,” Low said. “Home sales are holding up extraordinarily well, and that’s in large part because of the mortgage rates.”

Last week, applications for mortgages to purchase homes gained for the sixth consecutive week to a level that was 6.7% higher than a year ago, when the U.S. was having a normal “spring homebuying season”.

A seasonally adjusted index measuring purchase applications jumped 9%, the Mortgage Bankers Association said in a report on Wednesday. The so-called purchase apps were up 54% from early April when most U.S. states were under lockdown orders to keep people at home in an effort to stem the spread of COVID-19.

If you are wondering how the pandemic might be impacting your property’s value, your neighborhood, or the Real Estate market in general, we are happy to provide more specific information.

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Top Home Features During Coronavirus - Bigger is Suddenly Better Again

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Housing Implications for the Future

The severity and length of the coronavirus pandemic has brought unprecedented changes to the U.S. economy and real estate markets.

With widespread shelter-in-place orders, Americans have been spending weeks after weeks working, studying, socializing and caring for family at home. With the re-opening of the economy scheduled to be cautious, the impact on consumer preferences will likely shift buying behavior.

As the results indicate, consumers are already looking for larger homes, bigger yards, access to the outdoors and more separation from neighbors. As we move into the recovery stage, these preferences will play an important role in the type of homes consumers will want to buy. They will also play a role in the coming discussions on zoning and urban planning. While higher density has been a hallmark of urban development over the past decade, the pandemic may lead to a re-thinking of space allocation.

The main challenge for the real estate markets over the short-to-medium term remains the shortage of available inventory. We started the year with under-construction of about 3.8 million new homes, compounding a steeply declining inventory of existing homes. During the last few weeks, we have experienced continued declines in the supply of homes as sellers are pulling homes off the market, and builders are suspending projects to protect employees. With the ranks of unemployed continuing to swell and financing contracting, even as mortgage rates remain low, we are looking at a challenging next few months. However, on the other side of this crisis, consumers will look at housing with a whole new set of eyes, bringing opportunities for the industry.

The results of Realtor.com's recent study were mostly similar across gender, with a few differences.

Both men and women valued a bigger house at the top of their lists. And they both wanted an updated kitchen in the next house. However, a larger share of men wanted more separation from neighbors, better insulation and soundproofing, and better technology in the home. In comparison, a larger percentage of women ranked more/better outdoor space as a desirable feature for a new home.

Renters and owners were on the same page about wanting a larger house for their next home. And both groups ranked an updated kitchen near the top. However, more renters than owners are looking for additional space from neighbors, along with more and better outdoors space. On the other side, homeowners are looking for better technology in their next homes.

The responses were close when analyzed by age group. Younger consumers (18-34) want more rooms in their next home than older ones, as well as better insulation and soundproofing. Reflecting higher concentrations in multifamily living, more young consumers also want more outdoor space. For consumers in the 35-54 age group, separation from neighbors, more bathrooms, and better technology ranked comparably higher. The 55+ age group was the most likely to be happy with current homes, while still valuing a bigger house, an updated kitchen and better technology in a new home.

Parenting status offered a few differences in consumer preferences. More parents ranked a bigger house, more outdoor space and an updated kitchen as the top features for their next home. They also indicated stronger preference for more rooms, bathrooms, and additional space from neighbors. For consumers without minor children, their current home was more likely to fit their needs.

Top Consumer Home Features During Coronavirus

Quiet neighborhoods, outdoor spaces and newer kitchens shine during coronavirus

  • Consumers value quiet neighborhoods, outdoor spaces and proximity to grocery stores during pandemic

  • Reflecting constraints of quarantines, consumers struggle with confinement, separation from family and friends, and elevated stress

  • More space, updated kitchens and home gyms top list of desired changes for current homes

  • Having more personal and family time ranks as top benefit of sheltering at home

  • Wish list for next homes: bigger houses, more outdoor spaces and updated kitchens

  • While at home, 32 percent of consumers are cleaning closets and garages, gardening, and painting walls

The United States has passed the one-month mark into the current coronavirus pandemic. The number of cases has surpassed 825,000, and Americans across most states remain confined in their homes.

During the first two weeks of April, realtor.com asked a nationally-representative sample of 1,300 consumers searching for a home how sheltering in-place has changed their preferences for the current living conditions, as well as for a potential next home. The insights reveal shifting preferences, predicated on prolonged home stays, remote work challenges, managing families and social networks, and technology.

The majority of respondents reflected the national housing composition, reporting a single-family home as their primary residence. Living conditions also reflected demographic splits, with younger consumers more likely to live in a multifamily condo or apartment. Also reflecting changing attitudes, more women reported living in single-family homes than men.

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To see the rest of the study, including how or if people are actually tackling home improvement projects while quarantined, please visit realtor.com

If you are wondering how the pandemic might be impacting your property’s value, your neighborhood, or the Real Estate market in general, we are happy to provide more specific information.

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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You Don't Need a Huge Home Gym or a Peloton - But You Do Need These 6 Workout Items

You don't have to spend a ton on workout equipment you won't touch once this is over. This gear isn't pricey, but will have you looking like $1 million.

We get it, quarantine is getting boring. The days are getting longer and we’re looking for more ways to keep ourselves entertained — while doing everything we can to keep our budgets tight during these times of uncertainty. Yet, as summer rolls in, the realities of homemade banana bread, unlimited Netflix, and, let’s face it, lots of cocktails, have caught up to us. Whether you’ve put on the quarantine fifteen, or you’re just bored of your equipment-less bodyweight workouts, it’s time to amp up your at home routine — without breaking the bank - from the HerMoney blog!

In fact, you can snap up tons of impactful workout essentials for less than $50 each that will still be small enough to comfortably hide on your next Zoom call. Some of our favorite fitness gurus shared their top picks… but before we break those down, let’s talk about the one thing we all need before we Zoom into our next fitness class —  This $45 selfie light. Whether you’re doing burpees, facetiming with a friend to hold each other accountable, or joining an IG live — phone placement seems to require a special talent. Phone stands ensure a hands-free workout, are adjustable for all phones and, thanks to the added ring light, make you look like you’re feeling better than you probably are.  

Here’s the rest of the workout merch our experts recommend.  

5 LB WEIGHTS ($36)

Alexa Hirschberg, a yoga Instructor at Core Power Studios in New York, suggests this set of neoprene ones. “I find 5 pound weights to be an easy essential piece of equipment to get an even higher quality workout, she says, noting that these weights actually give you two workout options — they’re small enough that you can put both into a single hand, allowing you to add more variety and greater challenge to your workouts. These can be used in isolated strength exercises like tricep extensions, bicep curls, or even donkey kicks. These weights can also be used during compound exercises like lunges, or even within abdominal work. “I personally love having 5 pound weights when teaching or taking class, because I can feel my strength building and I can challenge myself in more ways than I thought,” she says. 

A CUSHY YOGA MAT ($39)

Hirschberg also suggests buying a yoga mat if you don’t already have one. “Trying to train on concrete, or on floors that are not supportive enough, can severely damage your body in more ways than one. A mat allows cushioning and protection for your knees when doing push ups, or for your back when doing ab work, Hirschberg says. But there’s a big difference between a flimsy mat and one that will go the distance, which is why the one we linked above is super cushy 🙂 Just remember that in this day of social distancing, sharing your mat is not recommended — and make sure you wipe it down after every workout to get rid of any sweat you’ve left behind. 

BAND TOGETHER FIT KIT 2 PACK ($32)

When it comes to tough workouts (the kind where you actually see results at the end) one of my absolute favorite classes is Barry’s Bootcamp. Joey Gonzalez, CEO of Barry’s Bootcamp, recommends resistance bands as a way to bring the studio home. Resistance bands are made of stretchy plastic, but when used in the right way, they can take the place of weights, and help you use your own body’s weight to build muscle. (Still confused? Here’s a great 30-minute full-body workout only using resistance bands.) 

The Barry’s set of workout equipment linked above includes the mini-band along with a standard resistance band, “Together, these pieces can get you an incredible full body workout,” Gonzalez says. You can also now video into the “Red Room” on the Barry’s at Home digital platform for $20 a session. You can find their class offerings here, and if you’re a first responder or health care worker, you can receive a free class by emailing barryscares@barrys.com. And if you’d like to donate a class to a first responder, check out this link.

WRIST/ANKLE WEIGHTS ($49) 

Certified Nutrition coach and fitness fanatic Rachael Schwartz suggests wrist weights, particularly Bala Bangles. “My favorite piece of at home workout equipment are weights that double as ankle and wrist weights, anywhere from 1 to 3 pounds,” she says.  “They’re easy to wear and store for your favorite workouts, but you can also easily use them while doing regular tasks around the house to get a burn on without even trying!”  For example, Schwartz says she dons them when she folds laundry, mops and cooks  — or even when she’s just standing up typing at the computer.  

Schwartz isn’t the only pro who’s obsessed with these. Samantha Jade, the creator of BY SJ and a master instructor at SoulCycle, agrees. “I love adding the Bala bangles to my classes. Whether it’s in body, abs or stretch, putting them on my wrists and/or ankles has me feeling really strong and extra sweaty, without having me compromise my form,” she says. Also, be sure to check out Samantha Jade’s $10 online classes — one of our favorite things to come out of quarantine.

A STEP STOOL OR CHAIR (FREE!) 

Soul Cycle instructor Julie Ferrer, who usually teaches in suburban New York and Connecticut has been offering free (yes, you read that right) workout classes via Zoom. So, it’s fitting that her top choice for a piece of equipment wasn’t going to cost you anything either — it’s a step stool or chair that you have laying around your home. Ferrer says that an item like this can be used for HITT-based workouts, cardio, or even stretching, because they’re perfect for toe touches, tricep dips, incline pushes and so much. Ferrer says using a step stool “literally and figuratively takes things to the next level!”

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