Published April 8, 2020
Looking to What the Future Holds for Us
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Our lives have changed a lot in the past few weeks. Uncertain
about work, businesses, and our lives in general. Will this all end at the end
of the month, or will it go for another couple of months or into next year? It’s
hard to tell but the effects of COVID-19 will linger past the initial lockdowns
and social distancing. The economy cycling downward, but there’s never been a
time where it hasn’t turned around and expanded greatly.
The GDP helps determine how well our economy is going and
many experts are saying that huge change is going to happen later in the year
after COVID-19.
According to Investopedia:
“Gross Domestic Product (GDP) is the total monetary or the market value of all the finished goods and services produced within a country's
borders in a specific time period. As a broad measure of overall domestic
production, it functions as a comprehensive scorecard of the country’s economic
health.”
Financial institutions are saying there’s going to be a steep increase/rebound towards the end of the year:
Many past pandemics have created these “V-Shaped” recoveries.
These big economic shifts had minimal impact on housing prices!
There’s a bright future head past these uncertain times, and many business owners are staying optimistic for a bright economic return. PricewaterhouseCoopers conducted a survey of 50 of the top leaders in a multitude of industries. 66% of the surveyed business owners say that they will return to normal in less than a month after the pandemic. 90% feel that they should be back to normal conditions with 1-3 months after.
In the end, there is a light at the end of the tunnel. This
won’t last forever. Lives and business will return to normal and we will be
right back into growth mode.
