The Round-Up Volume 5: It's Time to Build
"It's during times of market instability that we have the greatest opportunity to change our institutions and lay the groundwork for a more equitable society." - Calvin Cooper
April 22, 2020
Welcome to The Round-Up, a newsletter for renters, homeowners, and everyone in between.
It’s Social Distancing Day Number…Oh, who’re we kidding? We’ve lost track.
We may not know what day of the week it is, but one thing is for sure, you’ve probably seen the news about how coronavirus is playing out in the economy and the outlook is not pretty. But don’t get overwhelmed. Take a deep breath. This too, like all economic cycles, shall pass.
Although fewer renters made on-time rent payments last month, and mortgage lenders are instituting stricter lending guidelines, there is always a silver lining. We’re here to remind you to stick to what you can control by making smart financial decisions, stashing away as much as possible in your savings.
Let’s jump in.
Interesting Reads This Week
Pressure Makes Diamonds
Rhove Co-founder & CEO, Calvin Cooper tells Forbes how proptech will help renters navigate an upcoming recession. Calvin details how times of instability and hardship create the opportunity to make a lasting impact on the world.
On-time Rent Payments
Renters are feeling the economic effects of the pandemic. Through April 5, only 69% of American households had paid their rent for the month, down from 81% the previous month, according to the National Multifamily Housing Council.
Anticipating financial strain from the coronavirus, lenders are getting pickier about who qualifies for a mortgage. The good news? If you do qualify, you’re likely to get a favorably low rate and encounter fewer competing offers.
Virtual Tour: Library Park
Stuck inside? Don’t let it stop you from touring the incredible Library Park community, newly renovated and now available for lease. You can take a virtual tour from the comfort of your home through the video conferencing method of your choice!
There’s light at the end of the tunnel. Social distancing is starting to have legitimate effects in flattening the curve of the pandemic in Ohio. We are one step closer to being able to socialize in person again! We all deserve props for what we’ve collectively accomplished so far 🤘.
From helping neighbors to supporting healthcare workers, the pandemic has brought out the best in the community. Many are even taking the shelter-in-place order as an opportunity for self-improvement, self-reflection, and a time to get to that thing they’ve been putting off until ‘tomorrow’ (see the #AtHomeChallenge below).
As we get back to some semblance of normalcy, keep in mind that it could be a while until life gets completely back to the way we knew it — including financially. We wouldn’t be doing our part if we didn’t remind you to stay on top of your personal finances and keep filling that rainy day fund. Until next time!
Take the #AtHomeChallenge
If you haven’t yet, there’s still time to take the #AtHomeChallenge. Just set a goal to implement a positive daily habit and inspire your community to join you in doing so by sharing on your Instagram page or stories. You can even win a prize pack that includes free Hot Chicken Takeover, Jeni’s Splendid Ice Cream, Roosevelt Coffeehouse, a Pelotonia arrow magnet, and a custom t-shirt from Homage!
It’s Time to Build
Marc Andreessen, Co-founder & General Partner of the venture capital firm Andreessen Horrowitz published an inspiring article this week. In it, Marc contends that it is time to “reboot the American dream,” imploring the nation that now is the time to build. He argures that we have the technology and capabilities to build bigger and better cities, better cars, more productive manufacturing facilities, more efficient healthcare systems, to build the future we want to live in, but we simply have chosen the easier path — the status quo.
Quote of the Week
“It’s during times of market instability that we have the greatest opportunity to change our institutions and lay the groundwork for a more equitable society.” — Calvin Cooper