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Date Archives: May 2020

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May
20

 

Housing Market Positioned to Bring Back the Economy | MyKCM

All eyes are on the American economy. As it goes, so does the world economy. With states beginning to reopen, the question becomes: which sectors of the economy will drive its recovery? There seems to be a growing consensus that the housing market is positioned to be that driving force, the tailwind that is necessary.

Some may question that assertion as they look back on the last recession in 2008 when housing was the anchor to the economy – holding it back from sailing forward. But even then, the overall economy did not begin to recover until the real estate market started to regain its strength. This time, the housing market was in great shape when the virus hit.

As Mark Fleming, Chief Economist of First Americanrecently explained:

"Many still bear scars from the Great Recession and may expect the housing market to follow a similar trajectory in response to the coronavirus outbreak. But, there are distinct differences that indicate the housing market may follow a much different path. While housing led the recession in 2008-2009, this time it may be poised to bring us out of it."

Fleming is not the only economist who believes this. Last week, Dr. Frank Nothaft, Chief Economist for CoreLogic, (@DrFrankNothaft) tweeted:

"For the first 6 decades after WWII, the housing sector led the rest of the economy out of each recession. Expect it to do so this time as well."

And, Robert Dietz, Chief Economist for the National Association of Home Builders, in an economic update last week explained:

"As the economy begins a recovery later in 2020, we expect housing to play a leading role. Housing enters this recession underbuilt, not overbuilt…Based on demographics and current vacancy rates, the U.S. may have a housing deficit of up to one million units."

Bottom Line

Every time a home is sold it has a tremendous financial impact on local economies. As the real estate market continues its recovery, it will act as a strong tailwind to the overall national economy.

May
1

By: Sara Sawyer 

 

The world has been changing at an alarming rate. We are all getting used to social distancing and learning how to live and work virtually. Seeing our friends, going out to eat and being around crowds of people has been temporarily put on hold. It's a big adjustment for everyone and it can definitely take a toll on your mental health. 

I have found the best way to fight against depression, anxiety and feelings of isolation is to go out and be in nature soaking up the sun!  Although some places like Fort Pulaski, Oatland Island Wildlife Center, and Tybee Island Beaches have been closed for public safety, there are still plenty of places in and around Savannah that you can enjoy the outdoors.

One of my favorite places to go, even before social distancing, is Skidaway Island State Park. Cost for entry is $5 per car to enter. However, the Georgia State Parks & Historic Sites Annual Pass is only $50, which grants you access to all Georgia State Parks throughout the year. Skidaway has 3 different trails, the Sandpiper Trail (1-mile loop), the Avian Loop Trail (1-mile loop) and the Big Ferry Trail (3-mile loop). There is also a connector trail that gets you from Avian Loop to the Big Ferry Trail. Skidaway Island State Park is dog friendly and you are allowed to ride bikes on The Big Ferry Trail but not the others. The landscape varies depending on which trail you take and there are plenty of places to stop and rest or take photos.

A little less known hiking trail on Skidaway Island is the Moon River at Downing Pier. This trail is a little more difficult to navigate since there are no trail markers, but it's a great, approx. 7-mile, adventure. To avoid getting lost, download the AllTrails app! This free account will allow you to look up your trail! Dogs are allowed on the trail and it is bike friendly, but be aware that wildlife is often seen along the trails. Along with birds and small reptiles, you may run into some deer or an alligator or two.

 

Isle of Hope, is home to the famous Wormsloe State Historic Site. Typically, entry is $10 per person but during this time of social distancing, the fee is $5 per car. Take time to drive down the 1.5-mile beautiful oak lined drive. At the end, hop out to explore the old Tabby ruins of Noble Jones home, the Jones family gravesite, and the colonial life area. Want more adventure? The Battery Trail is 2.9-miles and right off the colonial life section. If you really want to make a day out of it, park at the entrance and walk the entirety of Wormsloe! No bikes are allowed at Wormsloe, but it is dog friendly. 

 

 

Bonaventure Cemetery may not be a place that you think of when social distancing but with 100+ acres and the dead to keep you company it's the perfect place to stay away from others! With countless gravesites, mausoleums, headstones and statues you can admire all the architecture in the cemetery for hours on end. Download the Bonaventure Cemetery Tour App and experience a tour of some of the cemetery's most famous gravesites and learn about Bonaventure before it was a cemetery. Some of the "Must-See Sights" include Johnny Mercer (H-48), Gracie Watson (E-98), and the Lawton plot (H-168). If the dead are something you don't want to experience alone, you can take your canine companion along! On the corner of Johnny Mercer Blvd and Bryan Woods Rd sits the beautiful Whitemarsh Preserve. It's a great place to relax and explore with kids, dogs or by yourself! There is a combination of habitats on the preserve including saltmarsh, tidal and hardwood. Some of the paths are paved and some are not but there are plenty of markers to help you navigate through. There is also a 5-mile mountain bike trail throughout the preserve that is easy to navigate and well maintained. 

 

Just over the border in South Carolina is the Savannah Wildlife Refuge. If you would prefer to enjoy nature from the comfort of your car there is an option here for you. There is a 4-mile-long Laurel Hill wildlife drive which can take anywhere from 30-120 minutes depending on how often you stop. Typically, you will see several alligators, a variety of birds and fiddler crabs all along the shoreline. If you have more time and would prefer to walk or take your bicycle around the refuge, there are over 40 miles of hiking and biking trails. You are very likely to see alligators on the trails so please remember not to feed or harass them in any way!

 

Please remember to observe the 6 feet social distance guidelines when exploring outdoors around others. For any of the dog friendly places listed above, please keep your dog leashed at all times and pick up their waste. And lastly, please be respectful of all the wildlife, do not feed any animals. You are potentially trespassing in the animals home so please leave them be and do not harass them. Above all, stay safe during these uncertain times and take time to enjoy the beauty you are surrounded by here in Savannah!

 

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