Compass Market Watch, Week of March 16, 2020

DID YOU KNOW? If you wish to help people whose livelihoods are directly impacted by lost shifts, now is the time. You can buy a gift card to your favorite restaurant to use when the situation normalizes. You can patronize delivery and takeout offerings from restaurants that have remained open (Thrive Kitchen LA offers great home delivery meals). You can donate to organizations like One Family Los Angeles. All donations will go directly to Los Angeles’s most impacted families for food, rent, medical care and supplies, childcare, and transportation.
DID YOU KNOW? The market just ended its historic 11-year bull run by closing in bear-market territory. A bear market marks a 20% decline from all-time highs. Still, there have been a couple of instances where recessions didn’t accompany previous bear markets, according to LPL Financial data. In 1987, the S&P 500 tanked 22% on the infamous Black Monday. That bear market lasted for four months but the economy avoided a downturn. Recessions also didn’t occur during the bear markets in 1961, 1966, and 1947. To be sure, the majority of the bear markets in recent history — more than 70% — were accompanied by a recession, according to LPL. (CNBC)
DID YOU KNOW? Google searches in the U.S. for “Should I buy a house” doubled in March from last month, reaching an all-time high last week, according to Meyers Research. The jump could mean that potential homebuyers are torn between taking advantage of historically low-interest rates and waiting to see the effect that the coronavirus outbreak will have on the economy. I think it could mean that once we are in the clear we could have a surge in home-buying. Now more than ever before, people will have time to focus on online searching perhaps? (Yahoo Finance)
DID YOU KNOW? Although the Los Angeles County Recorder is closed (going forward) to the general public, real estate transactions and recordings are still happening. Also, a reminder that banks are operating with a skeletal crew so expect and prepare for delays.

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Chase’s specialty is the selling and leasing of residential property, including single-family homes, condominiums and multi-unit properties. He has also been retained many times over the years by various banking institutions to sell their inventory. His attention to detail and professionalism have also made him a popular referral among business managers, attorneys and financial advisors.

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