The US economy has kicked off a new eight-year cycle after a mild COVID-induced recession, CBRE's Richard Barkham said in the company's recent podcast.
Barkham, global chief economist and head of Americas research for CBRE, said that while the recovery from COVID has been a "bit volatile," the US had an "ordinary" and "relatively mild" recession.
"You can see that in the number of workers that are not temporarily laid off statistics…we are at the start of a new cycle over the next seven or eight years," Barkham said. "And that, I think, will be dominated by some new trends emerging," including decarbonization, productivity growth, and the shift of millennials out of cities into suburban areas.
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.
