As we look back on 2020, we see a year that many of us are more than happy to leave behind. But as difficult as 2020 was, in many ways it could have been much worse. Faced with unprecedented global shutdowns in March and April, it seemed possible that the real estate industry, and the entire economy, might completely collapse. But as we began to adjust to a new reality through the summer and fall, real estate in particular turned out to be a bright spot. New work arrangements inspired people to move or find space for a home office or classroom, historically low interest rates prevailed and the stock market proved more resilient than expected to the threat of the pandemic.