If, however, things continue to stay closed for very much longer and with the continued doom, gloom and fear that continues to be perpetuated by our media, I think people will react by finding a new normal and this will mean that once those people find their new normal by making big changes in their life, they may not go back to the way things were pre-pandemic even when things do eventually normalize. Pessimism may be more powerful than optimism in keeping the economy stifled and it is starting to seem like things are going to be uncertain for a long and indefinite period of time. And at some points businesses will have to shut their doors because people cannot keep funding a losing proposition. I experienced this in 2008 when many businesses just waited and waited for things to normalize and at some point they just had to throw in the towel.
I am agnostic on a personal level to how long we live like this but on a national level I think our country will suffer in many different ways if we continue to keep people living this way. I don't think the condo market will be exempted from this, either.