Clear Thinking for Real Estate Leaders
I’m pleased to have returned again this year as the lead writer for Emerging Trends in Real Estate, released last week by PwC and the Urban Land Institute. Despite the challenges of cyclical headwinds and shifting industry dynamics, industry participants remain largely optimistic and “take the long view.” One of our key themes for 2023. …
Continue reading ““Emerging Trends in Real Estate 2023” Released“
San Francisco is different from other places. The city developed its lawless and wild reputation from its very founding when thousands of prospectors arrived at this former mission outpost during the Gold Rush of 1849 — along with prostitution, gambling, and crime. From that notorious beginning, San Francisco has long been celebrated for its diversity …
Continue reading “San Francisco is Really Weird. But Not Only the Way You Think“
Cities and Property Markets Will Never Be the Same. Looks like we’ll be working from home for a while longer. A lot longer. We’ve learned a lot in the last two years about working remotely and adapted our homes to be functional workplaces. Plus, our employers have upgraded their infrastructure to facilitate remote working, often …
Of the many changes in America’s labor markets since the pandemic began, perhaps the most surprising has been a decisive shift in the balance of power from employers to workers. Facing historic labor shortages and much choosier workers, employers are boosting wages, improving workplace conditions, and providing more flexible work arrangements to attract the personnel …
America’s labor markets have been transforming in myriad ways since the onset of the pandemic. Just about every important labor metric is out of whack: job quits, new hires, and job openings are all at record levels, while the number of jobless workers available to fill open positions is at historic lows. It all adds …
Continue reading “America’s “Labor Shortage” Is Not What It Seems”
I’m proud to have served as the lead writer for “Emerging Trends in Real Estate 2022” jointly released last week by the Urban Land Institute and PwC. Key themes in this year’s report: “Surprising Resilience, Booming Economy, Worrying Risks.” Following tradition, the report lays out ten top trends of relevance to the property sector including the impacts of working from home, growing …
Continue reading ““Emerging Trends in Real Estate 2022” Released”
Americans didn’t move far, but property market impact may be profound Newspapers last spring were filled with stories of empty downtowns as firms converted overnight to remote working, freeing office workers from the grind of their daily commutes. Not needing to report to the workplace, countless office workers, especially in tech and finance, moved to …
A Dynamic Property Sector Faces Painful Adjustments and a Bifurcated Recovery Despite wholly different market dynamics, the office property sector is confronting some challenging adjustments coming out of the pandemic that eerily mirror those buffeting the retail sector. American office workers are preparing to venture out from their home offices and return to their company …
Too often the amusing anecdote or the obvious comparison are more misleading than meaningful Ever since the widespread lockdowns last spring, there’s been pitched political debate over how much government should be doing to slow the spread of the novel coronavirus. Last month several media stories comparing the COVID-19 experience in California and Florida seemed …
When the U.S. economy first went into a tailspin in March as the country entered lockdown, initially there was hope for a “V”-shaped recovery – that the economy would come back as quickly as it had declined – once businesses could safely reopen and people could resume their everyday routines. Indeed, that was the premise …
Continue reading “A Most Unusual Recession – A Mostly Typical (If Protracted) Recovery”
