Read the original article by Logan Mohtashami on Housing Wire.
What a crazy year we have all been through. Last year, I visited Japan, London, Puerto Rico, Oregon and Las Vegas twice. This year I had fewer visits than that to my local barber and I was ecstatic to be there. This was the year we relearned to appreciate small things. Adventure and excitement were out, and safety was in.
On the economic front, COVID-19 was the mother of all exogenous shocks. Now, in December, we can cautiously say we made it through. On April 7, in an article for HousingWire, I proposed an economic model that showed what needed to happen for us to proclaim that “America is Back.” Tuesday, Dec. 8, will go down in history as V-Day, the day the vaccine was released, and the beginning of our victory over COVID-19.
On Dec. 9, in another article for my blog, I made the case that the economic conditions for the AB model had been met. Considering all the wild machinations in the market that we lived through from the date of the first infections to the present, I thought it would be useful to recap some of the year’s significant economic milestones. For perspective, I am starting with the condition of the 2020 housing market before the first infections…