The airline industry has taken a dramatic drop due to the travel and safety restrictions from the Coronavirus. However, despite the drop of commercial air travel, the steady demand of air freight is giving hope for the industry as a whole.
Covid-19 is still having a lasting impact, gripping the US economy some 5 months after it reared its ugly head. This time it is targeting the US housing market. With 44 million Americans still unemployed, many unable to pay rent and utilities, and temporary eviction bans set to lift, the US faces an eviction catastrophe the likes of which we have never seen.
We will soon be celebrating the 244th anniversary of the founding of the United States of America. On July 4, 1776, the Declaration of Independence was signed and the birth of the new nation took place in Philadelphia. Citizens across the country have celebrated the holiday ever since with parades, backyard barbecues, family picnics, and usually finish the evening watching elaborate firework displays that would light up the skies.
With California reporting a new daily high for new COVID-19 cases, 4,515 new cases on Sunday, the continual concern for virus spread should still be at the top of everyone’s priority list. Over just the last two weeks The United States has seen a 15% case increase. Typical travel destinations in the southeast and on the west coast seem to be the most dramatically affected. The work we have all put in to “flatten the curve” may all be for naught if we, as a nation, continue to jump back to the norm too early. Hospitals are feeling the effects of the dramatic spike in cases already. The White House is making efforts to concentrate on stocking up supplies to combat a potential COVID-19 case rise this coming Fall as lower temperatures may increase the spread.
As we approach mid-June, a lot of counties within Pennsylvania have or are preparing to move into the green phase of re-opening. However, there are still a lot of areas in and outside of Pennsylvania that have delayed any re-opening, Philadelphia for example still remains in the yellow phase. Over the past twoweeks we started to see an uptick in the market as small businesses begin re-open with hopes of the economy getting back to a more optimal function. The question then becomes, have we seen the worst effects physically and economically that COVID-19 has caused?