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National   /   January 20, 2021

Paul Bubny
By: Paul Bubny

Marcus & Millichap Sees $900B Stimulus Delivering Q1 Economic Lift

With $25 billion in rental assistance, the Paycheck Protection Program and support for airlines, movie theaters and live venues among its provisions, the much-delayed new COVID-19 relief package broadly supports commercial real estate, Marcus & Millichap says in a special report.

Beyond the direct aid to industry sectors, the $900-billion stimulus will boost economic growth this year, writes senior analyst Steve Hovland. He notes that the $2.2-trillion CARES Act provided an estimated 3% lift to the economy last year.

“The new round of stimulus, with about 40% of the funding of the CARES Act, will potentially deliver a 1.0-1.5% economic lift in the first quarter,” writes Hovland. “That said, more of the resources of this round of funding will likely be used for necessities because lower-income households have less savings and more debt than they had last year in March during the early stages of the pandemic.”

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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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