covid 19

COVID 19 Real Estate Market
Real Estate

The Real Estate Market in the Time of COVID-19

Every industry segment of society has been impacted by the COVID-19 pandemic, including the real estate market. Retail closures resulted in millions of employee furloughs, and stay-at-home mandates forced millions of employees out of their offices to work remotely. While many shopping centers, malls, individual retailers and offices have since opened, they have done so slowly and not at full capacity. In fact, many businesses are keeping their employees working from home, either to brace for the second wave of coronavirus or to take the time to reassess the need for large office space.

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Vegas Reopens Hotel Casinos
In the Press

Vegas Rolls the Dice and Reopens Hotels, Casinos, and Restaurants

Nevada’s workforce has been among the hardest hit from the coronavirus pandemic. According to state data cited in an article in the Wall Street Journal, the pandemic and lockdown left one in every three workers in the Las Vegas area jobless. The unemployment rate in Nevada in April reached 28.2% − the highest of any state in the country and nearly double the national average of 14.7%, according to the U.S. Labor Department. After 78 days of lockdown and shuttered businesses, the Bellagio’s fountains are flowing and the gondolas are back at the Venetian.

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Defensible Space
Risk Insight

Wildfire Preparedness: Creating a Defensible Space

Wildfire season is once again upon us with the Western United States anticipating raging fires after a winter of not much rainfall. Further exacerbating the potential for real devastation from the wildfires is the coronavirus, which interrupted the normal firefighting training and forest management that typically take place in the spring. Social distancing also presents real obstacles in quelling a blaze for fear of spreading the virus among firefighters (The Bureau of Land Management (BLM) has released social distance and hygiene tips for firefighters). For these reasons, it is particularly important to take precautionary measures and establish defensible spaces.

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