What a wild year 2020 has been! COVID-19 has changed the lives of many of us when it comes to how we think about safety, health, education, travel, and how we do business. Now, it’s time to OPENTEXAS and get back to work.
I have been a real estate broker since 1981. My clients have seen firsthand how stay-at- home orders affect their businesses. Hardworking people are closing their businesses, seeing new employment, and delaying their business dreams. Even the World Health Organization is saying “lockdowns” are bad and need to be avoided! I am calling on government leaders at all levels to rethink restrictions.
Risk of Recession
We have faced recessions before, but what we are facing this year is one of the lowest points in history. In April, unemployment hit 14.7%, passing the unemployment rate in 2008. Many restaurant, retail, and other business owners have had to lay off employees, limit the number of people they serve, and are now seeing a fall in demand.
Regulations that have delayed evictions also limited investments in the economy. Investors are hesitant to buy when there is uncertainty about whether tenants will be able to make rent payments. This causes investors to wait and reduces the amount of money circulated.
Uncertainty of income has also caused landlords to delay maintenance. When maintenance is delayed, blue-collar workers are not hired. Painters, electricians, and roofers are all at risk of not receiving the business they need to keep them working as well.
Texas’ Governor Greg Abbot just allowed restaurants to expand capacity from 50 to 75%. It is encouraging to see things open, but bars still remain closed. Customers’ rights to businesses must be kept in order to save a stable economy.
The State of COVID
Headlines that read “4,000,000 active cases” have scared us from seeing that COVID is not as dangerous as we think. There are silver linings from COVID data that prove we are able to handle business freedom.
We are seeing the rate of COVID cases decrease from earlier months. Since early August, the active case rate has been decreasing, and in Dallas County the COVID daily death toll has fallen from about 10 in July, to about 2 in September.
Testing is also improving. Testing has become more available, more accurate, and quicker. This allows us to know who is positive and keep those people safe at home.
The best COVID news has been the number of those hospitalized by COVID. As of late September, the number of those hospitalized by COVID sits under 30,000 people (about half as many in July). This proves that even if COVID cases were to rise, hospitals would be able to fill the need.
Many cities have proven we can stay safe with the economy open. It is time for rights to be restored and for Americans to use their own wisdom to keep everyone safe.
The Best Solution: Work
The first solutions to the lockdowns came with the CARES Act and the Paycheck Protection Program. Business owners have used government money but are now running out. Recently, the Senate voted against a $500 billion package that would have kept unemployment and PPP loans going. Republicans and Democrats are fighting over what services will be offered. Regardless, the result is the same; people have to wait again on the mercy of Washington again.
Elections have demonstrated other issues are more important to politicians than the current needs of the people. The answer is not a bill that may see in January; it’s letting people work people! Giving business owners freedoms to stay open and raise demand, will allow them to pay workers, decrease the unemployment rate, and will start natural investment in the economy.
Our economy is hitting a point where people must take personal responsibility for their own safety and health – using Focused Protection recommended by The Great Barrington Declaration. I am concerned that we will be paying the affects of shutting down the economy for months to come. However you feel about safety, statistics show that government restrictions don’t mean less cases. Americans are capable of keeping others safe while serving one another in business; so, let us get beck to work! If you’re ready to start taking care of your business again, call me and let’s make a plan!
Bill Bell, is a Commercial Real Estate Broker with Republic Realty Advisors serving clients in Dallas-Fort Worth and North Texas. Bill helps business owners locate and lease or purchase office, retail or flex space. For those looking to diversify their portfolios, he can find and help evaluate investment-quality commercial real estate opportunities.