01 Dec How will Omicron variant affect real estate?
How will Omicron variant affect real estate?
This article is strictly my opinion based on many years of watching real estate trends and how we have reacted to the COVID virus.
I have two opinions
- · First, even if the virus spreads more easily and our vaccines have less effectiveness we continue as we have been. We vaccinate more, we be careful in public and real estate continues with its cautious procedures. With this scenario our economy continues to grow, inflation continues to be a concern and the Federal Reserve begins raising interest rates as they have promised.
- · Second, the Omicron Variant spreads more easily and we need an additional booster to have adequate protection. Our schools go to distant learning again and parents stay home to help their kids and supervise them. Our businesses do remote work only. Our real estate
- market gets less listings since sellers do not want the risk of having people in their homes. The economy slows down, inflation begins to subside, and the Federal Reserve decides interest rates need to stay low now, so we do not go into a recession or have negative growth to our economy.
Do I see a combination of the two?
Sure, that is a possibility. The next month or two as we spend greater time indoors and celebrate the holidays with family is friends will be telling. The best possibility will be that the vaccine will still be effective and those that have had COVID will have natural immunities for protection.
What can you do?
Just protect yourself and your family. Continue to wear a mask, wash your hands, use sanitation and hopefully this new variant is just media hype and overblown fear mongering. But until we know…be cautious.
I hope the blog on this subject was helpful.
Please reach out to me if you have questions about housing in Minnesota at 612-386-8600.
Look for more articles and videos in the future on various aspects of real estate and our state of Minnesota.
Real estate is a wonderful investment!
The Anderson Team