Jonathan D. Miller

Executive Bio

A marketing communication strategist who turned to real estate analysis, Jonathan D. Miller is a foremost interpreter of 21st citistate futures – cities and suburbs alike – seen through the lens of lifestyles and market realities.

For more than 20 years (1992-2013), Miller authored Emerging Trends in Real Estate, the leading commercial real estate industry outlook report, published annually by PricewaterhouseCoopers and the Urban Land Institute (ULI).  He has lectures frequently on trends in real estate, including the future of America's major 24-hour urban centers and sprawling suburbs. He also has been author of ULI’s annual forecasts on infrastructure and its What’s Next? series of forecasts. On a weekly basis, he writes the Trendczar blog for GlobeStreet.com, the real estate news website.

Outside his published forecasting work, Miller is a prominent communications/institutional investor-marketing strategist and partner in Miller Ryan LLC, helping corporate clients develop and execute branding and communications programs. He led the re-branding of GMAC Commercial Mortgage to Capmark Financial Group Inc. and he was part of the management team that helped build Equitable Real Estate Investment Management, Inc. (subsequently Lend Lease Real Estate Investments, Inc.) into the leading real estate advisor to pension funds and other real institutional investors. He joined the Equitable Life Assurance Society of the U.S. in 1981, moving to Equitable Real Estate in 1984 as head of Corporate/Marketing Communications. In the 1980's he managed relations for several of the country's most prominent real estate developments including New York's Trump Tower and the Equitable Center. 

Earlier in his career, Miller was a reporter for Gannett Newspapers. He is a member of the Citistates Group and a board member of NYC Outward Bound Schools and the Center for Employment Opportunities.

  • The Same Old Song

    The government shutdown is a sure fire way to reduce government spending, while temporarily cutting the pay checks for millions of Americans… Obama Care is designed to reduce the amount we pay for health care impacting a huge profit-center industry that has been milking businesses and individuals for years with the highest costs in the world. Time will tell if the new health care plan will work… One way or another the federal government will temper its spending when the political parties work out some deal—actually shrinking spending is not in the cards… States and local governments, meanwhile, curtail services and eliminate what have been good paying jobs with generous benefits... And those public pensions are the next in the cross hairs as we have been pointing out.

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  • A Dream or Finally Facing Reality

    It was easily missed in President Obama’s speech on the 50th Anniversary of Martin Luther King’s march on Washington DC. It was a short passage on the challenges facing the country and the impediments to realizing Dr. King’s dream—The President said: “We shouldn't fool ourselves. The task will not be easy. Since 1963 the economy's changed. “The twin forces of technology and global competition have subtracted those jobs that once provided a foothold into the middle class, reduced the bargaining power of American workers.”

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  • The MOOC Threat

    So-called massive open, online courses (MOOCs) sound like a great idea. But what does it mean for real estate?

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  • Shareholder Value and Real Estate

    Fast food workers around the country are rebelling at wages bordering close to the minimum wage and the fast food companies threaten to automate more of their systems and eliminate workers so their message to workers is take it or leave it.

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  • Shareholder Value and Real Estate

    Fast food workers around the country are rebelling at wages bordering close to the minimum wage and the fast food companies threaten to automate more of their systems and eliminate workers so their message to workers is take it or leave it.

    Read More
  • Shareholder Value and Real Estate

    Fast food workers around the country are rebelling at wages bordering close to the minimum wage and the fast food companies threaten to automate more of their systems and eliminate workers so their message to workers is take it or leave it.

    Read More
  • Motown’s Message

    The car companies brought their headquarters back into the city. The Tigers kept their stadium in downtown and the Lions moved back. You would see some PR about new tech start-ups and strip of restaurant and entertainment venues in the heart of the city. But the population continued to hollow out and vast swaths of empty areas literally were turned back to nature or in other words abandoned. City services stopped in many near empty neighborhoods and the police force is able to solve only a small fraction of reported crimes.

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  • Twinkie World

    There’s an estimated $70 billion in institutional capital wanting to find a home in real estate, but unable to get in the door. Meanwhile, hundreds of wannabe managers and partnerships try to raise more money when managers and operators with secured commitments have trouble finding sound investments… The top markets appear too pricey, everywhere else appears too risky, especially the further out in the suburbs you look.

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  • Topping Out?

    At lunch yesterday someone raised the lurking question—“Have values topped out?” Since we were sitting in the middle of Manhattan sushi den, I presumed he was talking about the New York office market. And of course, New York is a special case—a unique, global gateway where everybody wants in and foreign money all too readily grabs for a piece of the action.

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  • The Worm Starts to Turn

    ADDENDUM: Blog Addendum—How revealing is the news behind Tuesday’s CNN headline after Wall Street’s rebound from recent market declines—“Stocks higher on weaker GDP data—hopes rise that interest rates stay low.” Is this investing turned on its head? We used to buy shares in companies based on their prospects for increased earnings from sound business models. Here we get more news that reinforces views about relative weakness in the underlying economy and that sends markets into buy mode, because the government will keep printing more money and provide cheap financing, which helps trading spreads and CFO balance sheet manipulations. Unfortunately, real estate investors need increased GDP to spur office leasing and retail sales for higher shopping center returns. In that vein, the announcement from big law firm Weil Gotshal should not be welcome news to office brokers. Weil announced layoffs of associates and compensation reductions for some partners, probably a harbinger of more thinning to come among the professional ranks where firms cannot command the same level of fees from corporate clients they once did. That gives Bernanke and friends more prodding to be cautious and keep rates low. It’s just another buy signal, right? As noted below: the U.S economy is certainly no great shakes, but China deserves our special concern…

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