BusinessMirror May 10, 2020

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ROTARY CLUB OF MANILA JOURNALISM AWARDS

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BusinessMirror

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A broader look at today’s business n

Sunday, May 10, 2020 Vol. 15 No. 213

EJAP JOURNALISM AWARDS

BUSINESS NEWS SOURCE OF THE YEAR (2017, 2018)

DEPARTMENT OF SCIENCE AND TECHNOLOGY

2018 BANTOG MEDIA AWARDS

PHILIPPINE STATISTICS AUTHORITY

DATA CHAMPION

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A WOMAN wearing a mask to help protect herself from contracting the coronavirus walks through the scaled replicas of iconic buildings of New York City at the World Park in Beijing, May 7, 2020. AP/NG HAN GUAN

Real estate, real scare? Revisiting the property market in a time of fear and uncertainty By Roderick L. Abad | Contributor

A

KIN to global crises in the past, the current coronavirus disease 2019 (Covid-19) pandemic apparently has cast doubt on the Philippine economy’s prospects. And yet, for all the doom and gloom scenarios, one thing for sure, according to real-estate experts and players, is that this health emergency opens up opportunities for both the realestate investors and developers.

With this in mind, they agreed that now is the proper time for the market to acquire a piece of an estate as builders need to meet their expectations just when they deal with current situations in their field amid the spread of the virulent, deadly virus. “Highest and best use of property will become even more important for investors and developers. Flexibility is key. Covid-19 is indeed a crisis, but every crisis brings opportunities,” KMC Solutions Cofounder Amanda Carpo told the BusinessMirror. “While the pandemic has brought about many uncertainties and challenges across a broad spec-

trum of investors and customers, basic microeconomics principles still point out to clear advantages of investing in property.… I do believe that developers should be sincere in adapting to the different rigors and demands brought about by the new normal,” added Golden Bay Landholdings Inc. (GBLI) Chief Operating Officer (COO) Jardin Brian Wong.

Crisis-proof

NO matter what the economic environment is, real estate, unlike some industries, is resilient enough to give good returns. In fact, it’s the third-safest investment next to gold and certificates of deposit, per a study by global public opinion

and data company YouGov. “Property has long been the gold standard for investment because of a plethora of reasons,” Wong noted. Foremost of such reasons, he said, is that it’s a highly tangible investment that the buyers can see and feel. Second would be the legacy aspect—these assets can be handed out from generation to generation—arguably giving them a sense of security. Third is its value generation. “Over time, real estate tends to increase in value exponentially while in comparison, actual money contracts due to a plethora of reasons like supply and demand,

inflation and fiscal pressure,” Wong pointed out. He noted that property investments are considered to be stable unlike other potential revenue streams like stocks, bonds and other securities that have fluctuating tendencies and are more susceptible to market shocks. Sharing the same idea with him, Carpo views real estate as a good instrument for investors to diversify their investment portfolio. She said: “Equities are much more volatile and carry more risk in general, and real estate can help manage volatility and risk and make your investments more Continued on A2

Face masks make a political statement in era of coronavirus By Will Weissert & Jonathan Lemire

W

The Associated Press

ASHINGTON—The decision to wear a mask in public is becoming a political statement—a moment to pick sides in a brewing culture war over containing the coronavirus.

While not yet as loaded as a “Make America Great Again” hat, the mask is increasingly a visual shorthand for a debate pitting those willing to follow health officials’ guidance and cover their faces against those who feel it violates their freedom or buys into a threat they think is overblown. That resistance is fueled by some of the same people who object to other virus restrictions. The push back has been stoked by President Donald Trump—he didn’t wear a mask during a Tuesday appearance at a facility making them—and some other Republi-

cans, who have flouted rules and questioned the value of masks. It’s a development that has worried experts as Americans are increasingly returning to public spaces.

Muddled

“THERE’S such a strong culture of individualism that, even if it’s going to help protect them, people don’t want the government telling them what to do,” said Linsey Marr, a Virginia Tech engineering professor with experience in airborne transmission of viruses. Inconclusive science and shifting federal guidance have no doubt

PESO EXCHANGE RATES n US 50.5140

VICE President Mike Pence (center) visits Dennis Nelson, a patient who survived the coronavirus and was going to give blood, during a tour of the Mayo Clinic, April 28, 2020, in Rochester, Minnesota, as he toured the facilities supporting Covid-19 research and treatment. Pence chose not to wear a face mask while touring the Mayo Clinic in Minnesota. It’s an apparent violation of the world-renowned medical center’s policy requiring them. AP/JIM MONE

muddied the political debate. Health officials initially said wearing masks was unnecessary, especially amid a shortage of protective materials. But last month, the Centers for Disease Control and Prevention (CDC) began recommending wearing cloth masks in public to prevent transmitting the virus to others. Whether Americans are embracing the change may depend on their political party. While most other protective measures, like social distancing, get broad bipartisan support, Democrats are more likely than Republicans to say they’re wearing a mask when leaving home, 76 percent to 59 percent, according to a recent poll by The Associated Press-NORC Center for Public Affairs Research. The split is clear across several demographics that lean Democratic. People with college degrees are more likely than those without to wear masks when leaving home, 78 percent to 63 percent. African Americans are more likely than either white people, or Hispanic Continued on A2

n JAPAN 0.4753 n UK 62.5313 n HK 6.5172 n CHINA 7.1297 n SINGAPORE 35.7267 n AUSTRALIA 32.8038 n EU 54.7218 n SAUDI ARABIA 13.4525

Source: BSP (May 8, 2020)


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