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The coronavirus pandemic is set to cause one of the sharpest retractions in economic activity ever recorded. Goldman Sachs and Morgan Stanley economists predict a 30% drop in the second quarter GDP and unemployment could soar past 25%. Many of you have been asking me:
"How will this unprecedented crisis affect rent payments?"
It's a difficult question to answer because (1) we have never been in this situation before, and (2) it greatly depends on one property type to another.
With that said, I have spent the past weeks calling REIT executives and other contacts