, rent for retail space in New York City fell as low as 25% in the fall of 2020 compared to the fall of 2019.
Once that figure is set, weigh whether the relative rate of return would be higher if you invested that funding into property or into the business itself, Mahowald said. Would hiring a marketing expert or programmer make more money for the business than owning an office building? "If you are thinking of buying or renting, then you need to lay out a long-term budget. That will define how much space you will need for the next 10 years," she said."Ask yourself: How much cash do you have for an investment property? Do your current financials support a mortgage?"
In 2021, anyone considering a property investment should think of the health risks of COVID-19, demographic shifts, recovery from the recession, and climate change, a JanuaryTaking those factors into account, CBRE laid out 11 US counties best positioned over the next decade, including Ada County in Boise, Idaho, Franklin County in Columbus, Ohio, and Polk County in Des Moines, Iowa. Here's a breakdown of the location drivers they consider.
Red flags to look for in a market include a high widespread foreclosure risk, a local government that is spending more money than it's making, and a high dependency on one industry. Take the West Coast, for example, where some local markets were devastated by wild fires in 2020. The LA Times that Glass fire, a wildfire that burned through Northern California in September and October 2020, had destroyed at least 246 commercial buildings in Napa County alone.
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