U.S. Commercial Real Estate Outlook: January 2014 Hugh F. Kelly, PhD, CRE - Featured Economist
Market Spotlight: Déjà vu all over again?
In the Nov/Dec 2013 issue of the journal Foreign Affairs, former Fed Chairman Alan Greenspan published an essay, “Never Saw It Coming: Why the Financial Crisis Took Economists by Surprise.” Greenspan describes the financial crisis as “an existential crisis for economists” as state-of-the-art models at the Fed, at the International Monetary Fund, and at private institutions such JP Morgan Chase, all failed to predict the depth and duration of the most recent economic downturn. This is a continuation of Greenspan’s extended apologia about the asset bubble that led to the crisis and the blind spots in policy that helped exacerbate the damage.Read More
Pamela Hannigan, Featured Economist:
Slow and Steady, Real Estate Remains Solid with Good Fundamentals .......
Where is it going from here?
Nationally a mild housing rebound and sluggish employment gains continue to support moderate economic improvement. Despite continued improvements in the housing market, U.S. economic growth remains patchy with gaps in domestic and global demand. Last quarter, domestic GDP and manufacturing hit speed bumps, consumer sentiment has been volatile and mortgage applications for purchasing or refinancing have lost strength. Recession in the Eurozone means fewer exports and an aging population means a downward shift in overall spending.Read More