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Commentary

Secondary and Tertiary Markets are Taking the US into Extra Innings

Select tertiary markets are driving the economic expansion and will likely continue to do so for the balance of this year and well into 2019.

By Jay Olshonsky | Updated on August 06, 2018

June marked the 9th year, or 108 months, of economic expansion in the U.S., the second longest in U.S. history. It has the potential of overcoming the longest period of growth in America (120 months from 1990 to 1999) if the current expansion makes it to July 2019.

Most of the recovery since the Great Recession wound down toward the end of 2009 and the early months of 2010 has occurred in primary markets and gateway cities, yet beginning a couple years ago investment and development capital was increasingly directed toward secondary markets – a trend that has become dominant in the current economy.

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