Reproduced from Urban Land Institute; Chart: Axios Visuals

This year's real-estate outlook is bleak, but commercial property rents are expected to improve over the next two years, according to the Urban Land Institute's annual survey of real estate economists and analysts.

The state of play: Brick-and-mortar retailers, which were already shrinking before the pandemic, are suffering across the board. Meanwhile, e-commerce is rapidly increasing its market share.

  • Apartments are necessities, and rent collections haven't dipped as much as expected — yet. There will likely be a slowdown in building new multi-family projects.
  • Office demand is expected to improve over time. Even if more people decide to work from home, social distancing could require companies to lease more space to accommodate workers.

The bottom line: The big question that will determine how quickly rental rates bounce back is whether the crisis will prompt people to swap a city lifestyle for a more spread-out suburban one.

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Isaias strengthens as it crawls toward the Carolinas

A wave crashes ashore as Tropical Storm Isaias passes through Jetty Park in Fort Pierce, Florida, on Sunday. Photo: Joe Raedle/Getty Images

Tropical Storm Isaias is expected to reach the Carolinas late Monday at "near hurricane strength," the National Hurricane Center (NHC) said.

The latest: Isaias was 65 miles northeast of Cape Canaveral with winds increasing to 70 mph, the NHC said in a 2 a.m. update. Storm surge warnings and hurricane watches were in effect for North and South Carolina and Rhode Island. Tropical storm watches were in effect for Florida, Long Island and Delaware.

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Illustration: Sarah Grillo/Axios

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Updated 2 hours ago - Health

World coronavirus updates: Global cases top 18 million

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

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By the numbers: More than 688,300 people have died from COVID-19 worldwide. Over 10.6 million have recovered.