Some Initial Takeaways on How the $2T Stimulus Helps CRE
Industry pros are continuing to unpack what’s in the massive $2 trillion stimulus package, but already some items stand out that should provide relief to the CRE sector.
March 26, 2020 | David Bodamer | National Real Estate Investor
After days of rancorous negotiations, the U.S. Senate unanimously approved a $2 trillion+ economic stimulus bill aimed at helping the American economy navigate an unprecedented shock. The House appeared poised to pass the legislation on Friday and President Trump has promised to sign the bill as soon as it reaches his desk.
It could not come at a more pressing time. On Thursday morning the Department of Labor reported that initial jobless claims soared to a seasonally adjusted 3.28 million in the week ended March 21.
The bill is broken into several parts, with hundreds of billions allocated towards direct cash payments to most Americans and to vastly expanding unemployment benefits to be more generous and cover more classifications of workers. That alone will be beneficial, for example, by helping apartment tenants pay their rents.
