Apartment rents in the Seattle region could drop by 10 percent

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Apartment rents in the Seattle region could drop by 10 percent, but even so, not many people will be able to move with COVID-19-putting the economy at a standstill.

There have been mass layoffs and unemployment benefits and other government aid still to come, leaving a lot of people unable pay the rent.

Seventy-six percent of tenants are seeking some form of relief, according to a survey of property managers who oversee about 34,000 units at 216 properties across the four-county metro. Seattle-based Commercial Analytics conducted the survey March 23 to April 3.

As this unprecedented situation continues to evolve, one thing is certain: There will be a big impact on the rental market where a statewide ban on evictions is in place.

https://www.bizjournals.com/seattle/news/2020/04/06/seattle-area-apartment-market-cannibalize-itself.html?ana=e_me_prem&j=90503150&t=Morning&mkt_tok=eyJpIjoiTWpaaU1EWmhNekk0WTJaayIsInQiOiJyU1VzT09DVHp0VzZmcjZtZ0NiYmxTeCsrTmlCTnVOOG8xUzU0TG05SHdVeUF5ckp3WWliTGRxRFwvdHROZ3l6cGRxZ2E3ZFBaak5sdnZhZ1ZOSUI1ZWFVZ2xvWlF4cjlVSnkyRTh2em5vMlB1S2o3dFRWTjdBaTQ2OXdyWFdFZnMifQ%3D%3D

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1. Vulture Capitalists already licking their chops

Real-Estate Investors Eye Potential Bonanza in Distressed Sales
8:14 AM ET 4/7/20 | Dow Jones


By Konrad Putzier and Peter Grant A growing number of property investors are preparing for what they believe could be a once-in-a generation opportunity to buy distressed real-estate assets at bargain prices.

Investment firms like Blackstone Group Inc., Brookfield Asset Management and Starwood Capital Group are sitting on billions of dollars in cash and capital commitments they have raised from pensions, sovereign-wealth funds and other big institutions in recent years.

Many of these firms are eyeing hotels, retail properties, mortgage-backed securities and other assets that have come under stress in recent weeks as the spread of the coronavirus pandemic has closed businesses across the country, leaving them unable to pay rent and their landlords unable to pay their mortgage bills.

https://www.morningstar.com/news/dow-jones/202004075104/real-estate-investors-eye-potential-bonanza-in-distressed-sales