The world is facing COVID-19 pandemic which is rapidly advancing. The economy is largely shut down. Fear has sent shock waves through the stock market with steep declines. We sold out of the stock market and went to cash in the first week of March. At some point, not now, there will be opportunities to buy securities and probably real estate at deep discount process. As of this writing there is much anxiety over the volatility in equities which reinforces the durability of commercial real estate. Real estate has its own concerns when tenants can’t afford to pay the rent. There is disruption with shut downs and layoffs, closures of schools, leisure and all but essential retail. It’s a crisis. Economists are lowering their forecasts. Recession is possible. People everywhere are stocking up in case supply lines are disrupted. Some forecasters predict later this year the market will come roaring back. Others see a gradual recovery which may start when warm weather arrives. A positive note is interest rate are at historic lows which is helpful is real estate acquisitions and refinance.