“In May, what market? I don’t see no market”: Realtor.
These layoffs are gut-wrenching and gigantic. But six states reported “fewer layoffs” in some industries – as there are not that many people left to lay off?
But department stores will never recover; they were toast before the lockdowns.
“There has been a clear divide between winners and losers.”
But those paper gains were fun while they lasted.
Availability of Jumbo Mortgages Plunges.
“The mortgage market has more risk than previously acknowledged.”
Regular folks need not apply.
Gut-wrenching. The hope is that most people will be rehired as the health crisis becomes more manageable and lockdowns are loosened.
Expensive markets face a new reality: lenders get skittish about jumbo loans.