Will Covid-19 cause the next financial crisis?

The Harris Foundation for Lifelong Learning commissioned research into the way that the deadly Covid-19 disease has changed the way millions of office workers do their jobs and live their lives and the impact on the property market in the Uk and Europe.

The article looked at the extent to which firms are looking to cut their real estate footprint, and investment institutions forecast that demand for office space might fall up to 35% exacerbated by rising insolvencies.

It found that the knock-on effects from a crisis in the property-related debt market could prove disastrous – unless the government takes action. It concluded that there has been insufficient discussion of the financial help that will be needed if a health crisis turns into a financial catastrophe for owners, investors, and lenders. Now is the time to start planning for that.

The article is here.