SAN DIEGO—The US GSP is doing just fine, but labor productivityis up only 1% and real wages are up just a touch. So says NormMiller, Ernest W. Hahn Chair of Real Estate Finance, University ofSan Diego. During the morning's economic forecast at Tuesday's 2019NMHC Apartment Strategies Outlook Conference here in San Diego,Miller said that as far as the economy goes, it really doesn'tmatter who is the president because the economy doesn't turn on adime.
“We will be doing just fine in 2019, but 2020 not so sure. Onthe job front, it is hard to find labor right now. Treasury bondyields have flattened.”
But does this suggest the “R” word is coming? According toMiller, rates are really good, but his biggest concern is tariffs.“Trade wars and tariffs hurting farmers, construction costs,consumers and tech companies like Apple and a slowing Chineseeconomy. If we do go into a recession, this will be one of thetriggers that will push us there.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
