Coronavirus identified in the central Wuhan Province has spread to various parts of the mainland. Around 60000 people are infected by the virus, and it has reached 25 countries. This virus is creating havoc around the world. Even the US is wary of the virus and keeping suspected cases quarantined.
Coronavirus has affected the world economy, even though slightly. But the Real estate in the US remains unaffected. However, as per KJ VanDerwerken, the real estate expert, recently there have been some changes in the scenario. The residents are concerned about Chinese renters and buyers of property. Recently, Sunanne Zhu, a real estate agent, brought Chinese buyers to a property, and the workers there became worried. They are sure to be doubtful because coronavirus is deadly. Many people fear the ones who even wear a face mask.
However, one of the Chinese buyers debunked the myth about face masks. She explained how not everyone who is infected wears a face mask. The ones who want to prevent having any infection or disease also wear the face mask. People even wear them to stay safe from pollution.
Real Estate might take a hit in the US because the number of prospective Chinese buyers of properties will drop. There is no need to worry as of now because it wouldn’t leave a dent in the economy. But if the situation continues till September, then there would be trouble for the US Real Estate.
There will be a 30% drop in the revenue if the impact of coronavirus does not diminish. It isn’t a piece of good news either for China or the Real Estate sector in the US.
