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Real Estate News: 1031 Exchange Deadline Extension, Post-Virus Rebound, Credit Crunch
In this Real Estate News Brief for the week ending April 10th, 2020… a new deadline for the 1031 exchange, a housing market rebound, and a pullback by lenders.
We start with economic news from the past week… but first, important news about the 1031 exchange. The IRS published a notice on Thursday, April 9th, announcing extended deadlines for 1031 exchanges because of the coronavirus. The new deadline is July 15th for anyone with a deadline between April 1st and July 15th. That applies to both the 45-day deadline and the 180-day deadline.