Coronavirus Impact: Change Will Be Our Constant
To quote the Greek Philosopher Heraclitus, “Change is the only constant in life.” As we stare down the barrel of the coronavirus rifle, we must ask ourselves what will future changes be like. Which changes will be temporary? Which changes will be permanent? Impact of Coronavirus In my last two blogs, I’ve reviewed the impact of coronavirus on the restaurant industry as well as other commercial real estate sectors. Here, I contemplate the impact of the coronavirus on the economy, urbanization, healthcare and, perhaps most interesting, people and their habits. Impacts from major societal events do not show up for a while. For example, people had fewer children following the 2008 economic crisis because they felt financially insecure; however, we are just seeing this impact now in schools, as current graduating classes outsize current elementary school classes. That recession also profoundly affected the housing market; people became more inclined to
