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In this Real Estate News Brief for the week ending August 1st, 2020… we have a sharp drop in the gross domestic product, a real estate market that defies gravity, and a new way to feel like you are taking a vacation with your laptop.

 

We begin with economic news from this past week, and a new record for the U.S. GDP, but not in a good way.  The government says the gross domestic product dropped a whopping 32.9% from April to June, on an annualized basis. That’s the worst drop in GDP ever, with the closest being in mid-1921.