Real Estate

From Our CEO: Redfin & Coronavirus

Dear Redfin Customers, To protect the health of our customers, agents and communities, we’re canceling open houses for all homes listed by Redfin’s brokerage, and limiting private in-person tours of all listings to two customers per tour. We’re still serving thousands of buyers and sellers each day, but with new rules and new technologies. We’ve […]

Stock

Why it’s not 2008 again

The coronavirus outbreak is set to deliver a sharp and deep economic shock – akin to that of a large-scale natural disaster. Markets have been fretting over the economic impact, evidenced by moves that are reminiscent of the 2008 global financial crisis. But we think today is different. Social distancing measures to fight the outbreak […]

Stock

Thanks to All the Heroes!

Let’s thank all the heroes in this fight. Especially the healthcare workers that are at serious risk (two ER doctors are in critical condition) and the first responders. Let’s also thank all the people working at the grocery stores and pharmacies – and working in the supply chain to keep us fed and bring us […]

Stock

Update: Decline in Restaurant Traffic

There are some sectors that will be hit hard over the next several months: hotels, airlines, restaurants, movie theaters, sporting events, and convention centers.   People will probably avoid these places as part of social distancing. Here is some restaurant data from OpenTable:

Stock

NY Fed: Manufacturing “Business activity declined in New York State”, Headline Fell Sharply

From the NY Fed: Empire State Manufacturing Survey Business activity declined in New York State, according to firms responding to the March 2020 Empire State Manufacturing Survey. The headline general business conditions index fell thirty-four points to -21.5, its lowest level since 2009. The new orders index dropped to -9.3, pointing to a decline in […]

Tax

This is personal….

I wrote this yesterday, sending it to people I met during the week: I apologise for having to write in this way I think it only fair to advise you that I think I might have coronavirus. I have met you in the last few days and that means I could have infected you. I […]