Well, things could be better, to say the least. From an economic perspective, the virus has rattled the global markets (with the exception of Clorox whos stock is up 13% and whoever owns Purell of course). Italy now is blocking borders, locking down about 16 million people in fear of the less than 4% fatality rate virus expanding.
In the last few weeks, Roofstock, a rental property sales website, has seen traffic from investors in Asia on its site jump 500%, a 450% jump in traffic from investors in Germany, 250% from Australia and a 100% increase from the United Kingdom. In volatile times hard assets like real estate can be a safe haven especially in markets with historically strong national and local economies. Hence why so many investors love NYC regardless of its low cap rates (low-risk low reward) because of its stable market and high appreciation. Unfortunately, as everyone knows, things haven't been so cheerful in the real estate world seeing where NYC is within its real estate market cycle and all the law changes. My investors and buying clients are sure loving it though.