Key Takeaways
• The initial prediction in March of how much the coronavirus was going to impact Maddin Hauser was not accurate and they have been busy with leases, transactions and developments.
• Most of the Detroit Members reported that they too were busy now and having a better-than-expected business recovery.
• Phil Seaver indicated that although his bank cannot accept the transactional money, his title work now includes cannabis deals, which seemed to be a good sign.
• The MEDC recently (without any warning) implemented their own “5-Year Strategic Plan” which feels unfair to Nick and others because it loops out reimbursement for things like school properties, most manufacturing, and warehousing.
• David Hart indicated that it has been difficult to get in front of a court because they are not having trials now, and no juries will be summoned until probably summer of 2021. Judges are working remotely and not willing to evict anyone yet.
• Things like RVs, boats, vehicles, trailers, appliances and electronics were all in high demand for the 3rd quarter.
• While growth in the 3rd quarter is around 20%, 4th quarter growth is probably going to be around only 6%.
• Unemployment has dropped significantly, especially in Michigan.