Business

David Ebrahimzadeh Discusses The Impact Of The Covid Pandemic On The Real Estate Market

Published

5 years ago

April 20, 2021

The COVID-19 pandemic has had a huge effect on the United States economy as a whole and a major impact on the residential real estate market. The pandemic affected rental vacancy rates and prices and home sales in different ways. Major cities and suburbs were affected in vastly different ways.

David Ebrahimzadeh explains the effects that the global pandemic has had on the real estate market across the country, naming some of the problems that have come up and offering an outlook for future months.

Economic Disruption Leads to Distressed Landlords

Many people lost their jobs and were unable to pay their rent or mortgage, though temporary eviction and foreclosure protections did help. There were far fewer protections for landlords, and many landlords are on the verge of losing their properties.

David Ebrahimzadeh advises landlords to carry cash reserves to get through these difficult times. It may be too late for many landlords today, but those who are still holding stable properties should start saving today.

COVID’s Effects on Home Prices

The COVID-19 pandemic caused a noticeable drop in home sales across much of the country and a corresponding drop in prices. Economic uncertainty and stay-at-home orders stalled the home sales market, though as the pandemic eased thanks to the introduction of vaccines, the housing market has begun to recover.

Urban Rental Disruption

As the COVID lockdowns began, many residents of densely populated urban areas began to realize that their environment was putting them in danger of catching the coronavirus. People who had the economic means to do so and the flexibility to work from home began to buy homes in suburban areas 50 to 100 miles from the city they were fleeing.

Rental vacancy rates in the inner cities rose significantly while rental prices sunk to unprecedented levels. This caused real estate prices to soar in areas like Westchester, New York as Manhattan and Brooklyn’s residents departed. This also caused younger renters to be able to move into cities like New York where in the past they would have been priced out. It will be interesting to see whether the flight from the city will persist past the COVID-19 pandemic and whether these fleeing renters will come back after the danger has passed.

Suburban Effects

The primary effect on the suburban real estate market from COVID-19 was the sharp rise in home prices. Since there was a small supply of homes available, competition and prices spiked. The mobile and well-off people who were able to leave the cities could afford to pay higher prices.

As real estate sale prices jumped in the suburbs, rental prices escalated as well. A low supply of affordable rental units was strained as people moved away from the cities.

Overall Economic Movements

The real estate market often falls prey to general economic fluctuations. The major law that governs real estate markets is supply and demand. High demand and a low supply will lead to the highest spikes in prices. This situation happened during the spring and summer of 2020 in many areas of the country.

Unemployment rates soared due to the pandemic, and wages went down. Many people in the hospitality and retail industries lost their jobs entirely, while others were forced to take significant cutbacks in hours.

Inequality in the Housing Market

The COVID pandemic has caused the wealth gap between the haves and have-nots to expand even further. While homeowners with stable jobs saw significant increases in their wealth thanks to burgeoning equity in their homes, the working class largely fell victim to economic disruption.

Possible Outlook for the Real Estate Market

The National Association of Realtors predicts that the economy will rebound in 2021. Interest rates will remain stable while the annual unemployment rate will dip to 6.2 percent. Housing prices across the country may climb by as much as 8 percent in 2021.

It will be fascinating to see whether the short-term effects of the pandemic will continue. If people are continuing to be able to work remotely for a permanent time span, they may stay in the suburbs and rural areas.

Understanding the Housing Market

David Ebrahimzadeh recommends that property owners keep close tabs on the economy and on real estate prices in their area. While it is best to hang onto properties in the long term, it is a good idea to judge whether it is the right time to make an investment purchase.

As COVID fades, its long-lasting impact on the economy may continue. It will take decades before some industries fully recover. The housing market will continue to be affected by economic shifts, unemployment rates, and the mobility of American workers. Taking all of these economic movements into account, this may be a great time to invest in real estate.

Business

Click for Counsel: YesLawyer Wants to Make Lawyers as Accessible as Wi-Fi

Published

5 days ago

April 1, 2026

Matthew Wiles

Photo Courtesy of: YesLawyer

Byline: Andi Stark

For many people facing a legal problem, the most difficult part is not understanding their rights but finding a lawyer willing to speak with them in the first place. Long wait times, unclear pricing, and administrative hurdles often delay even the most basic consultations. YesLawyer, an AI-enabled plaintiff firm operating across all 50 states, is testing whether technology can shorten that gap.

Founded in 2024 by 25-year-old entrepreneur Rob Epstein, the platform offers free intake, automated screening, and, in many cases, same-day conversations with licensed attorneys. The idea is simple: reduce the friction between a client’s first request for help and an actual legal discussion. In this interview, Epstein explains how the system works, where artificial intelligence fits into the process, and what problems the company is trying to address in the broader legal system

Q: When you say you want lawyers to be “as accessible as Wi-Fi,” what does that mean in practical terms?

A: It’s a way of describing speed and availability. Someone dealing with a workplace dispute, a serious injury, or an immigration issue should be able to move from an online form or phone call to a real conversation with counsel in hours, not weeks. YesLawyer is structured so that a client begins with a free case evaluation, goes through automated conflict checks and basic screening, and, in many instances, speaks with a lawyer the same day.

Q: How does the process work once someone contacts the platform?

A: We use a structured workflow. It starts with a short questionnaire and an initial conversation to capture basic facts. That information feeds into conflict checks and internal review. The system then proposes a match with a licensed attorney and provides a calendar link for a virtual consultation, often within 24 hours. After the meeting, the client receives a written legal plan outlining next steps, deadlines, and estimated fees.

Q: Where does artificial intelligence fit into that process, and where does it stop?

A: AI is used for organizing and routing information, not for giving legal advice. It helps with conflict checks at scale, case categorization, and structured summaries so attorneys can focus on the substance of the matter. Every consultation is conducted by a licensed lawyer, and all decisions about strategy or next steps are made by humans.

Q: What problem is this model trying to solve in the current legal system?

A: Delay and cost are still major barriers. Many civil plaintiffs face long waits just to get a first appointment, along with high retainers and hourly billing that make early legal advice risky. We try to respond with faster consultations, flat-fee options, and financing. The idea is to remove administrative friction so lawyers spend less time on logistics and more time speaking with clients.

Q: Some critics say platforms like this blur the line between a technology company and a law firm. How do you describe YesLawyer?

A: We describe ourselves as a national, AI-enabled plaintiff firm that connects clients with independent attorneys. That structure does raise regulatory questions, especially around responsibility and oversight. We focus on licensing verification, attorney-written case plans, and clear communication about fees and services.

Q: You’ve said the main bottleneck is “systems” rather than people. What do you mean by that?

A: The issue isn’t that lawyers don’t want to help more people. It’s that the systems around them make it hard to scale their time. Intake, scheduling, and document handling take hours. Automating those parts means attorneys can handle more matters without being overwhelmed by repetitive tasks.

Q: Does this model risk favoring only the most profitable cases?

A: That’s a real concern in legal technology. Automation often works best for repeatable, high-volume disputes. Our view is that lowering administrative cost can actually make it easier to take on smaller or more complex cases that might otherwise be turned away. Whether that holds over time depends on the data.

Measuring Impact Over Time

YesLawyer’s attempt to compress the timeline between inquiry and consultation reflects broader changes in how legal services are being delivered. As artificial intelligence becomes more common in administrative work, firms are experimenting with new ways to reduce wait times and clarify costs.

The company’s early growth suggests that many clients value faster access to an initial conversation, even before considering long-term representation. Whether this platform-based model becomes widely adopted or remains one of several emerging approaches will depend on regulatory developments, lawyer participation, and measurable outcomes for clients. For now, YesLawyer’s experiment highlights a central question in modern legal practice: how quickly can help realistically be made available to the people who need it.