A connection between real estate and The Swine Flu? Perhaps you think that’s too much of a stretch (maybe it is). Perhaps, even though it feels like every media outlet is screaming SWINE FLU, you can’t quite figure out what in the world that has to do with real estate. But I’m already seeing a connection…
And It Happened Today…
Today I had an appointment to meet with some clients at a house that had just come on the market. We both pulled up to the house at the same time and, as we walked toward the house, I approached them to deliver some papers that I had promised to provide. I started to explain what I had brought, but was immediately interrupted.
“I’m sorry,” my client said. “But I have a very scratchy throat and perhaps you don’t want to be around me.” His wife also chimed in, explaining that they had just had a discussion in the car and wondered if I would fear contact with them. I made a joke about Swine Flu and assured them that I’d wash my hands as soon as we separated.
My client is a physician, who works in a world renowned medical facility in Bethesda, Maryland. His concern was real…as is the epidemic (pandemic?) that is sweeping the world. I know that people have already died, and predictions are that more will follow. So if the predictions and concerns that already feel a little overblown, continue to escalate…could we see the effect of the swine flu hit the world of real estate?
The Effects of Increasing Media Attention?
As the headlines increase, so will the paranoia (at least for some). Could it be possible that people will begin fearing contact with others in public places — including events like Sunday Open Houses? Potential buyers may even want to stay away from visiting other peoples’ homes until this medical emergency subsides?
Swine Flu + Uncertainty?
In a time of uncertainty, another unsettling, uncontrollable event just adds to our sense of vulnerability. And when people feel vulnerable, we already know they’re not as inclined to buy houses.
So What do you think? Will real estate feel the effects of The Swine Flu?
Contributor – Gretchen Koitz – Principal of The Koitz Group and mother of more frequent contributor Kevin Koitz! Gretchen specializes in Washington DC luxury real estate and surrounding close-in Montgomery County Maryland areas. Visit her Bethesda Maryland real estate guide or her Georgetown real estate page for a more information about the DC Metro Area.
{ 4 comments… read them below or add one }
Give it another week and the news will be talking about someone trying to reach 2 million followers on Twitter. I do think the swine flu is real. I don’t think it is as severe as everyone is making it out to be. a few years ago it was bird flu. The year before that it was SARS. As long as everyone washes their hands and keeps their 3M HEPA commercial grade respirator on at ALL times we should be fine
Agreed, but it’s certainly not a welcome addition to this era of uncertainty…I look forward to this going away soon too. And I too think all will be cool in good time.
I had an appointment cancel last week and a buyer refuse to allow warranty work be completed by a worker who had visited Mexico. However, our office had some of the best turn out for open houses this past weekend. I think the lure of awesome interest rates will overpower the swine flu “media hype”.
Fortunately this swine flu has so far turned out to be less deadly than anticipated. People are already in fear mode because of the economic environment. When the herd gets spooked then fear can easily turn into panic. And, yes, we did experience some of this reluctance to go into public places in our San Diego real estate business.
I appreciate the fact that the CCDC has such good warning systems in place. The additional resources added to protect against bioterrorism after 911 must have really done some good. But the fact that this outbreak couldn’t be contained even after identifying the bug after only the first few cases shows how nearly impossible it is to contain an airborne illness. Is it fair to say that more resources should probably be devoted toward public immunization rather than public alert?