Slow, But How Steady?January 21, 2016
| John Salustri
The first month of the year is always a good time for reflection and projections so, appropriately, IREM’s latest Quick Poll turns to the economy. Happily, the responses were positive, if only with an asterisk.
How will the economy perform is 2016? 80% of respondents voted for growth, but of that number, only 30% weighed in on the side of “Good growth.” A larger faction — and a majority of the total at 50% — see “Slow growth;” good but not great. The pessimists among us (you know who you are) amount to 20%, with responses split between “It will be stagnant” at 15% and 5% saying “It will decline.”
In another recent blog we weighed in on the subject, marshalling the forces of experts from a variety of sources, to come to the conclusion that while certain trends can be counted on, ultimately we’re all guessing. Among those trends is the longer-lasting strength of the multifamily market as compared to office, and that we shouldn’t have to worry just yet. We can leave that to 2017 — at the earliest. Certainly the Quick Poll bears that out. Then, as an industry, we just have to watch and wait.
And remember: Your voice matters. Watch for our Quick Polls in every issue of IREM’s weekly Real Estate Management News e-newsletter. Vote and be counted!
About the Author
John Salustri is one of the nation’s most respected writers in the field of Commercial Real Estate. A multiple award winner for excellence in journalism, John is the founding editor of GlobeSt.com, the nation’s premier news and information site for the commercial real estate industry. Today John is a freelance writer and editor, focusing on helping companies boost their industry presence through enhanced web and print content.