Surveying the Carnage: How Real Estate, Travel and Music Are Faring During the Crisis

One hundred million jobs lost and $2.7 trillion in GDP evaporates. Shutdowns lasting 18 to 24 months. NLW looks at the impact of the COVID-19 crisis on key industries.

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This episode is sponsored by ErisX, The Stellar Development Foundation and Grayscale Digital Large Cap Investment Fundhttps://grayscale.co/coindesk.

The second-order effects of the COVID-19 crisis are here, and they’re painful. In this episode of The Breakdown, NLW looks at how COVID-19 is impacting three industries:

Travel and tourism:

• 100 million in lost jobs expected globally
• $2.7 trillion in lost GDP
• Airbnb lays of 25% of employees

Music and concerts:

• From a record $12.2 billion concert year to a loss of $9 billion
• Expectations there will be no concerts for up to two years
• The industry organizing to be included in relief

Real estate:

• Commercial real estate expecting 2.5% default rate for the next five-plus years
• Negotiations around sales-based payment instead of traditional rent
• Residential real estate may have cratering demand but home prices remain up year over year

See also: When Currencies Fail: A Primer on the Dollar Crisis in Lebanon

For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, IHeartRadio or RSS.