Coronavirus and real estate
Coronavirus and real estate, We all know that Covid19 has become the worst pandemic we all have seen in our life time and said by many it is the enemy number one of human kind today.
All countries are taking extreme masures to keep the virus out of the territory but even the thouse that were being succefull not having people infected, have at least one active case.
This post is directed to Panama mainly as this is the market we cover but knowing this is a pandemic it also applies for everyone not matter where you are.
Real estate is or will be affeted by this worl wide crisis that other sectors of the economy have been expericicing for several months already, what we want with this post is to create conciousness among thouse that have most resources than others.
A large part of the worlds population are suffering with the loss of jobs and with that comes the diffuclty to pay bills, and support they families, many people will need to sale their assets (even if they only have one) to be able to put a plate of food on the table for their kids.
If you happen to be an investor, a real estate person etc that is financially in a good spot and find one or more individuals selling their only home in need of cash created by this owful crisis PLEASE dont take advantage, dont offer to buy it for nothing, offer a fair price, I get it, you are here for bussiness and as a bussiness person you need to make money as well, but come on, during a situation such as the one we all are living with Coronavirus is not time to play that way, offer to buy this property for an an amount that will allow you to make some money later but but also an amount that will help the individual selling it go thru this hard times.
One thing is to find a good deal during a normal day but today is not normal, many people are diying, many people for sure are concerned with what to put on the plate tomorrow.
We know oil prices have gone super low, many investments of other kinds crashed, but for people that can afford this type of dealings will recuperate and any loss these days will only mean a decrese on their bank accounts, on the other hand a loss now for some one who lost the only source of income and know needs to sale the only property they have (their home) could be the difference between eating good today or sleeping under a bridge tomorrow.
Please be concious, and keep in mind that we literally have in our hands the duty to stop the propagation of this virus and the same time preserve the life of human beings.