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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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About Paul Bubny

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. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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