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“We might never see this again in our lifetimes,” said Ryan Severino, chief economist at JLL, in his keynote speech at the GlobeSt.com Net Lease conference in Los Angeles. Severino was not only referring to the pandemic—the definition of a black swan event—but also to the pace of growth out of the downturn. With GDP growing roughly 5.5% this year, he called the rate of growth both “super normal” and “ahead of potential.”

This year, the US will reach its highest growth rate since 2000, when GDP increased 4.1%. In fact, very rarely in the US history has growth exceeded 5%. In 1984, the economy grew at 7.2%, and in 1954, GDP increased 8%. Severino said that the 5.5% growth rate will put 2021 on the map as a historically notable year for growth.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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