I was recently laid off from my job due to impacts of the coronavirus pandemic. As a senior executive responsible for growth, eliminating my role was an obvious area to preserve cash in the face of an uncertain future and I would have made the exact same decision if I were the owner of the company.
My wife is an independent residential real estate agent and her income has effectively dried up as well. While there are signs that buyers and sellers who are less impacted by the global economic downturn may begin engaging in property transactions again, our overall financial outlook is uncertain at best.
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