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About This Column Resource Center is about all types of Information resources that may be helpful for real estate market analysts and valuers-from print and online publications to data sources and websites The COVID-19 pandemic has caused widespread shutdowns of business, entertainment, sports, and social activities;triggered massive federal and state aid programs, increasing national debt and causing financial problems for governments;produced serious mental and physical health problems in non-COVID-19 patients arising from delays in diagnosis and treatment of serious medical conditions;caused sharp increases in unemployment;and created a wide variety of legal issues for income property investors and business owners For prognostication purposes, it is important to analyze how past catastrophic events changed society, the economy, and markets (for our purposes, primarily the real estate market)-and for how long 2 The pandemic-related economic slowdown has quite different causes than other recent major events, such as the 9/11 attacks, the dot-com bubble crash, and the Great Reces sion Below are some commonly suggested examples of black swan events:9 * Black Death in Europe, 1347-1351 * European Flu Pandemic, 1889-1890 * World War I, 1914-1918 * Spanish Flu Pandemic, 1918 * Stock Market Crash of 1929 and Great Depression * Black Monday Stock Market Crash of 1987 * Collapse of the Soviet Union, 1991 * Birth and Rapid Growth of World Wide Web and Internet * Savings and Loan Crisis, 1986-1995 * 9/11 Terrorist Attacks * Dot-Com Bubble Collapse, 2000-2002 * Great Recession and Financial Crisis, 2008-2011 Sudden, major catastrophes without significant impact on the economy or society generally are not labeled black swan events
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