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Prologis CEO Expects Businesses to Operate with Higher Inventory Levels Post-Crisis

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Prologis, Inc. (NYSE: PLD) chairman and CEO Hamid Moghadam said he expects businesses to operate with a higher level of inventories following the coronavirus crisis. Speaking on an April 6 business update conference call, Moghadam noted that for approximately the past 20 years supply chains have been structured for efficiency. “People have been squeezing more and more inventory out of the system. The supply chains have been longer and longer, so they’re very vulnerable to disruption,” he said.

Ultimate Economic, Financial Impact of COVID-19 Unclear Until More Progress on Public Health Front

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In the latest edition of the REIT Report podcast, Nareit Senior Economist Calvin Schnure said the ultimate economic and financial impact of COVID-19 will be unclear until there is more progress on the public health front. Authorities, meanwhile, are acting quickly to support the economy, including the resurrection of the Federal Reserve’s crisis programs, Schnure noted.

HUD and FHFA to Halt Foreclosures and Evictions

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Last week, the Department of Housing and Urban Development (HUD) and the Federal Housing Finance Agency (FHFA) announced plans to halt foreclosures and evictions in the wake of the COVID-19 pandemic.    HUD announced that it will put a stop to all foreclosures and evictions for mortgages insured by the Federal Housing Administration (FHA) until the end of April 2020. The FHA backs an estimated 8.1 million mortgages.