While the residential real estate market seems to be picking back up where it left off rather quickly, the commercial market has seen better days.
In a recent survey, only 19% of commercial property managers said that their rents were being paid on time while almost 75% said that their tenants were either struggling to pay or not paying at all.
Retail tenants have been one of the hardest hit as stay at home orders have kept most people at bay.
Commercial demand is expected to continue taking a hit as grocery stores and apartment buildings will likely remain stagnant while office and retail space is anticipating a sharp decline.