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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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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.

Go deeper

Updated Oct 7, 2020 - Health

World coronavirus updates

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

New Zealand now has active no coronavirus cases in the community after the final six people linked to the Auckland cluster recovered, the country's Health Ministry confirmed in an email Wednesday.

The big picture: The country's second outbreak won't officially be declared closed until there have been "no new cases for two incubation periods," the ministry said. Auckland will join the rest of NZ in enjoying no domestic restrictions from late Wednesday, Prime Minister Jacinda Ardern said, declaring that NZ had "beat the virus again."

Updated 10 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Most COVID-19 survivors can weather risk of reinfection, study says — "Twindemic" averted as flu reports plummet amid coronavirus crisis
  2. Vaccine: Pfizer begins study on 3rd vaccine dose as booster shot against new strains — Republicans are least likely to want the coronavirus vaccine
  3. U.S. news: California surpasses 50,000 deaths COVID-19 deaths, more than any other state — Jimmy and Rosalynn Carter return to church after receiving COVID-19 vaccines
  4. Local: Public transit ridership in Twin Cities dropped 53% amid pandemic — Data firm predicts "complete chaos" in next phases of Florida's vaccine rolloutAlaska Gov. Mike Dunleavy tests positive for the coronavirus

2 TikTok stars charged for L.A. "mega-parties"

Bryce Hall and Blake Gray in Los Angeles, California. Photo: fupp/Bauer-Griffin/GC Images

TikTok influencers Blake Gray and Bryce Hall face criminal charges for hosting "mega-parties" in the Hollywood Hills despite a city ban on large gatherings due to the coronavirus pandemic, authorities announced on Friday.

Why it matters: Los Angeles City Attorney Mike Feuer described the charges as a part of a "crackdown" on house parties that pose a risk to public health.

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