Jonathan D. Miller

Executive Bio

Jonathan Miller is a partner and co-owner of Miller Ryan LLC, a strategic marketing communications consulting firm to the financial services and real estate industries. Miller has more than 25 years of communications and marketing experience in the real estate industry, counseling many leading executives. For the past 15 years he has also authored Emerging Trends in Real Estate, the Urban Land Institute’s (ULI) premier annual industry forecast and speaks extensively on suburban and urban issues. He is also author of ULI's Infrastructure 2008: A Global Perspectives, a major analysis on the looming changes facing the

U.S. on infrastructure and land use issues. He has led marketing/communications teams at Equitable Real Estate, Lend Lease, and GMAC Commercial Mortgage (Capmark Finance), overseeing re-branding programs for those firms as well as for COMPASS, Boston Financial and Amresco when they were acquired by Lend Lease. He has extensive crisis communications and corporate-change experience. Miller graduated with honors from Northwestern's Medill School of Journalism and earned a law degree cum laude from American University. Contact Jonathan Miller.

  • The graying poor

    The healthcare debate points to a growing schism in the U.S. between older people and younger Americans. The economics of Social Security and Medicare (both socialist programs by the way that few if any Americans want to give up) depend on younger working people supporting older retired seniors. The numbers...

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  • No spin can save you

    The inevitable tidal wave of commercial loan busts begins to form--over the next six months more borrower reserves run out and owners come to terms with the harsh reality of rising vacancies and lowering rents. Why should they put good money after bad trying to keep up with debt service when the property...

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  • Not a Good Feeling

    It´s a year since the Lehman Brothers collapse and we read in the New York Times over the weekend about investment banks securitizing bonds backing the proceeds from life insurance policies bought from elderly people looking to cash in benefits before they die. Since the CMBS and RMBS markets are dead,...

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  • "Tough Time" Musings

    I had meeting last week with the head of real estate for a household-name institutional investor which is a big player in the international markets. He likes Brazil. Another executive who works under his umbrella favors India. U.S. real estate will be an opportunity play eventually, they say, but its...

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  • Mixed Signals

    You´d think we´re back and everything was fine. Well at least according to the chief investment officer of one of North America´s leading banking institutions. We sat in his office overlooking an expansive trading floor doing an Emerging Trends interview late last week. "It´s one of the best...

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  • Buying low and selling high

    In retrospect, it's fascinating how sophisticated investors bought into the whole risk/return spectrum rationale for commercial real estate. Back in the 1980s, investors invested in real estate funds for income and some appreciation. If you wanted to take the risk for bigger returns, you did development...

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  • Hooray-the recession is over

    So the economic consensus is that the recession is over-we landed with a big thud after prolonged contraction and growth--albeit very anemic---has resumed. That´s good news, of course. The costly stimulus and financial industry bailouts indeed appear to be working to stanch what might have been even...

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  • What's the New Model? (revisited)

    The TrendCzar is currently on vacation and will return next week.  While he is away let's revisit a story from last summer about the commercial real estate investment model.  When the billions on the sidelines step back into the investing arena, what will the new model look like?

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  • How hard the fall? (revisited)

    The TrendCzar is currently on vacation and will return mid-month to begin writing Emerging Trends 2010. What's changed in the market since this time last year?

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  • Waiting to go poof

    The credit limbo gripping the real estate markets leaves some major developers in a Wylie Coyote mode. They´ve stepped off the cliff and freeze in suspended animation, realizing they have no chance of getting back. They know it´s just a matter of time before a sudden, quick descent starts leading...

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